Everything you need to know about personal loans in Kenya. Compare rates, eligibility, and apply online. Updated October 2025 with latest information.
Personal loans are unsecured loans provided by banks and financial institutions to individuals for personal use. Unlike secured loans, they don't require collateral like property or vehicles. In Kenya, personal loans are popular for debt consolidation, home improvements, medical expenses, education fees, and emergency funding.
KES 50K - 10M
From KES 50,000 to KES 10 million
6-72 Months
Flexible terms from 6 months to 6 years
Kenya Commercial Bank
â Editor's ChoiceKCB offers competitive rates with flexible repayment terms. Excellent for salaried employees with good credit history. No early repayment penalties and loan insurance included.
View Details âEquity Bank
đ Best for SMEsEquity Bank provides fast processing with extensive branch network across Kenya. No collateral required for loans up to KES 500K. Existing customers get 0.5% discount.
View Details âCo-operative Bank
đ Best RatesCo-operative Bank offers competitive rates with strong customer service. Cooperative members get 0.5% interest discount. No collateral up to KES 1M.
View Details âABSA Bank Kenya
ABSA offers the highest loan amounts up to KES 10 million with longer repayment terms up to 6 years. Premier customers get preferential rates.
View Details âCompare rates, terms, and eligibility from multiple banks. Use our comparison tool to find the best fit for your needs.
Ensure you meet the bank's requirements. Check your credit score and gather required documents.
Most banks offer online applications. Visit a branch or apply through the bank's website/app.
Submit required documents for verification. This may include CRB check for some banks.
Once approved, funds are disbursed to your account or M-Pesa within 24-48 hours.
| Bank | Interest Rate | Max Amount | Max Term | Processing Fee | Min Income |
|---|---|---|---|---|---|
| KCB Personal Loan | 13.5-16.5% | KES 5M | 60 months | 2.5% | KES 25K |
| Equity Personal Loan | 13-16% | KES 5M | 60 months | 2% | KES 20K |
| Co-op Personal Loan | 13.5-15.5% | KES 5M | 60 months | 2% | KES 25K |
| ABSA Personal Loan | 14-16.5% | KES 10M | 72 months | 2.5% | KES 30K |
| Stanbic Personal Loan | 14-17% | KES 3M | 60 months | 2% | KES 25K |
You'll need: National ID/Passport, KRA PIN certificate, 3-6 months payslips, 6 months bank statements, and sometimes employment letter or business registration documents.
Most banks approve personal loans within 24-48 hours for existing customers. New customers may take 2-3 business days including document verification.
It's difficult but possible. Some banks offer loans to borrowers with fair credit. However, you'll likely pay higher interest rates and may need collateral.
Unsecured loans don't require collateral and have higher interest rates. Secured loans require assets like property as collateral but offer lower rates.
Most banks allow early repayment. Some charge a small penalty (1% of outstanding balance), while others like KCB and Equity have no penalties.
Renovations, furniture, appliances
Hospital bills, surgeries, treatments
School fees, university tuition, courses
Combine multiple loans into one
Buy cars, motorcycles, or repairs
Working capital, equipment, inventory
Weddings, holidays, celebrations
Compare rates from 13+ banks and find the best personal loan for your needs.