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Bid Bonds

Trade Konnect Value Proposition

The Core Value

In the high-stakes world of government and private tendering, timing is everything. Credit Bank’s Auto-Bid Bonds platform eliminates the bureaucratic delays of traditional banking, allowing contractors and agents to generate EGP-compliant guarantees in just 5 minutes. We’ve replaced hours of paperwork with minutes of productivity. Whether you’re a contractor or an agent, our platform gives you the credibility and speed needed to win more tenders

Auto-bid bonds processing faqs

  • What is an Auto Bid Bond?

    An auto bid bond is a digital bank issued guarantee that ensures contractors can submit bids quickly and reliably, aligning with Kenya’s EGP requirements.

  • How does the platform work?

    The platform allows users to obtain bid bonds instantly providing a secure QR code for verification and real-time validation.

  • What is an Auto Bid Bond?

    An auto bid bond is a digital bank issued guarantee that ensures contractors can submit bids quickly and reliably, aligning with Kenya’s EGP requirements.

  • How does the platform work?

    The platform allows users to obtain bid bonds instantly providing a secure QR code for verification and real-time validation.

  • Who can use the platform?

    The platform is designed for Credit Bank customers (contractors) including Bid bond agents applying on behalf of their clients, offering a convenient way to manage bid bonds efficiently.

  • What is the average time for processing a bid bond?

    5 minutes

  • What is the cost per Bid Bond?

    0.375% one off minimum Kes 2,000 plus excise duty

  • What is the mode of payment?

    Mpesa

  • What is the maximum limit amount per Bid Bond?

    Kes 20M

  • What are the benefits of using the Auto Bid Bonds?

    Users can get bid bonds quickly ensuring they meet tender requirements and enhancing their credibility in the bidding process.

  • How to log in/access the platform?

    Visit CBL website

Experience a New Digital World.

Konnect Mobile banking application offers new exciting features.

More Options

Empowering you to grow takes a special place at the heart of our operations. elev8HER is designed just for you and offers more than just financial solutions. We seek to be the friend you can bank on for your growth. Join elev8HER today and get exclusive access to:

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  • ~elev8HER Café – features business moguls to learn engage and prosper

 

Insurance Options

HER Car Insurance

 

With elev8HER, we have curated our motor vehicle insurance options just for you. We have the following options:

  • ~HER Private Motor Vehicle Cover – this covers all vehicles used for personal, social and pleasure purposes.
  • ~HER Commercial Vehicles – this cover is for all vehicles used in the line of doing business.

This insurance cover indemnifies you in respect of accidental damage including collision, fire, theft of the vehicle and third party liabilities.

 

HER Business Insurance

 

This is a comprehensive insurance that covers your property against any accidental and unforeseen loss or damage. It offers a wide range of unique benefits depending on your needs. The following policies are available under this class among others:

  • ~Fire and Allied Perils (Burning flame, explosion, impact, flood, malicious Damage)
  • ~Burglary policy including holdup
  • ~Cash in transit/Goods in transit
  • ~Home Insurance (Domestic Package) – Sections A,B,C,D, E & F
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  • ~CAR
  • ~WIBA

 

HER Health Cover

 

This cover is suitable for you and your employees. You can now have peace of mind together with your employees with our medical cover. Credit Afya Health product is designed for both individuals and SMEs and offers the following:

  • ~Inpatient and outpatient cover
  • ~Various memberships for free – Mums Club, Senior Club, Maisha Fit among others
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HER Travel Insurance

 

Travelling the world? This cover is for you if you are travelling for leisure or business and offers you the following:

  • ~Emergency Medical and related expenses
  • ~Loss of Baggage
  • ~Travel inconveniences
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The cost of this cover is normally dependent on number of days of travel, country of destination, country of destination, your age and type of visit.

eHub

eHub is a platform designed to enable your small and medium sized enterprise (SMEs) scale and become competitive across industries. eHub provides a platform for you to network, learn and do business. Non-financial service package include access to e-hub for free/discounted rates:

  • ~Access to eHub Accelerator programs
  • ~Access to eHub Circles
  • ~Access to eHub Mentors
  • ~Access to eHub Masterclass
  • ~Access to eHub One on one coaching sessions
  • ~Women Café – monthly talks on pertinent issues affecting women in business and women in general

Learn more here.

 

Financing Options

HER Business Loan

If you have run a small and growing enterprise for at least three years, this term loan is designed to meet your financing needs.

What You Get
  • ~Access loan value of up to KES 10 million
  • ~Preferential interest rate
  • ~Last two months interest rebate upon full redemption of loan and consistent repayment with no incidence of arrears.
  • ~Access to other elev8HER products such as insurance packages with discounted premiums, and non-financial service package including access to eHub for free

 

HER Start-Off Loan

 

If you have run a micro and small enterprise between one and three years, this term loan is designed to meet your financing needs.

 

What You Get

 

  • ~Access loan value of up to KES 3 million
  • ~Preferential interest rate
  • ~An unsecured option is available
  • ~Last two months interest rebate upon full redemption of loan and consistent repayment with no incidence of arrears.
  • ~Access to other elev8HER products such as insurance packages with discounted premiums, and non-financial service package including access to eHub for free

 

HER Trade Loan

 

Sometimes cashflows are tight. This solution is meant to ease your cash operations in the short term. Access this financing with your LPO/LSO contracts. Open an elev8HER account for business transactions to build your business banking record.

 

What You Get

 

  • ~Get up to 70% cash value on your LSO/LPO contracts
  • ~If you have an invoice yet to be paid, our Invoice Discounting offers up to 70% cash value
  • ~Access training and coaching through eHub and other non-financial services .
  • ~Access to other elev8HER products such as insurance packages with discounted premiums, and non-financial service package including access to eHub for free as above

 

Her Digital Loan (Women Pre-Approved Cash Loan)

 

Need quick cash? CB Konnect, our mobile banking app, gives you access to quick loans based on your transaction history with no security required.

 

What You Get

 

  • ~No collateral required
  • ~Access to other elev8HER products such as insurance packages with discounted premiums, and non-financial service package including access to eHub for free as above
Account Options

HER Personal Account features:

  • ~No Monthly Charges 
  • ~Minimum operating balance Kshs. 2000
  • ~Charges via Digital Channels apply

HER Business Account features:

  • ~Get unlimited access for a flat monthly fee of KES 500

  • ~No charges for Cheque Book

  • ~Access to a Visa Debit Card*

  • ~No minimum or operating balance
  • ~Charges via Digital Channels apply