Bank of Africa
Compare all 7 products from Bank of Africa in Kenya. Rates from 0%. Borrow up to Ksh 50,000,000.
Fixed Deposits
1| Product | Rate | |
|---|---|---|
Bank of Africa Fixed Deposit Account | 6.75% - 9.25% | Apply |
Bank of Africa Pros & Cons
+Pros
- ✓Pan-African network ideal for cross-border needs
- ✓Free debit card with every loan
- ✓No early repayment penalty
- ✓Reasonable minimum income of KES 25,000
- ✓Travel insurance included
- ✓Higher KES 600K ceiling
-Cons
- ✗Limited branch network in Kenya (under 20 branches)
- ✗Lower brand recognition than Tier 1 banks
- ✗Smaller digital product suite
- ✗Slower approval than fintechs
- ✗KES 3,500 annual fee higher than Classic cards
- ✗Requires KES 50K minimum income
Eligibility Requirements
- ●National ID or passport
- ●KRA PIN
- ●3 months payslips
- ●6 months bank statements
- ●Copy of ID/Passport
- ●KRA PIN Certificate
- ●12 months bank statements
- ●Business registration
- ●Financials (2 years audited)
- ●KRA PIN and tax compliance
Frequently Asked Questions
What interest rates does Bank of Africa offer?
Bank of Africa offers interest rates ranging from 0% to 16% across their 7 products. The exact rate depends on the product type, loan amount, and your credit profile.
What loan amounts are available from Bank of Africa?
Bank of Africa offers loan amounts from Ksh 50,000 up to Ksh 50,000,000 depending on the product and your eligibility.
How fast does Bank of Africa disburse loans?
The fastest disbursement time from Bank of Africa is 48-72 hours. Actual processing time varies by product type and application completeness.
Does Bank of Africa require CRB clearance?
Yes, Bank of Africa requires CRB clearance for some or all of their products. A clean credit history improves your chances of approval and may qualify you for better rates.
How many products does Bank of Africa offer on PesaMarket?
Bank of Africa currently has 7 products listed on PesaMarket across 7 categories: Asset Finance, Business Loans, Credit Cards, Current Accounts, Fixed Deposits, Personal Loans, Savings Accounts.
Products Available
Compare Bank of Africa With
Best For
- ✓Customers with West/Central Africa links
- ✓Cross-border remittance users
- ✓Expatriates working in Kenya
- ✓Mid-size salaried employees
- ✓Pan-African business travelers
- ✓West/Central African diaspora
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