📱 Best Mobile Money Loans for KES 1,000,000

Compare 3 mobile money loans that offer KES 1,000,000. Interest rates from 7.5% to 7.5% p.a.

Eligible Products

7.5%

Lowest Rate

KES 1,000,000

Loan Amount

24-48h

Avg. Approval Time

Calculate Your Monthly Payments

See exactly how much you'll pay for a KES 1,000,000 loan

Mobile Money Loans Offering KES 1,000,000

Best Rate

M-Shwari Loan

Safaricom M-Pesa (powered by NCBA)

Interest Rate:

7.5% - 7.5%p.a.

Loan Range:

KES 100 - 1,000,000

Repayment:

1 - 1 months

KCB M-Pesa Loan

Kenya Commercial Bank

Interest Rate:

% - %p.a.

Loan Range:

KES 50 - 1,000,000

Repayment:

1 - 1 months

M-Shwari Loan

Safaricom M-Pesa

Interest Rate:

% - %p.a.

Loan Range:

KES 100 - 1,000,000

Repayment:

1 - 1 months

Monthly Payment Estimates for KES 1,000,000

Interest Rate	6 Months	12 Months	24 Months	36 Months
12% p.a.	KES 172,548	KES 88,849	KES 47,073	KES 33,214
15% p.a.	KES 174,034	KES 90,258	KES 48,487	KES 34,665
18% p.a.	KES 175,525	KES 91,680	KES 49,924	KES 36,152
21% p.a.	KES 177,023	KES 93,114	KES 51,386	KES 37,675
24% p.a.	KES 178,526	KES 94,560	KES 52,871	KES 39,233

* Estimates based on reducing balance method. Actual EMI may vary based on fees and exact terms.

Requirements for KES 1,000,000 Mobile Money Loans

Basic Requirements

✓Kenyan citizen or resident (ID/Passport)
✓Age 18-65 years (varies by lender)
✓Valid KRA PIN certificate
✓Active mobile money account (M-Pesa)

Income Requirements

→Minimum income: ~KES 250,000/month
→Employed: Payslips or employment letter
→Self-employed: 6+ months bank/M-Pesa statements
→Collateral may be required

FAQs: KES 1,000,000 Mobile Money Loans

Where can I get a KES 1,000,000 loan in Kenya?

You can get a KES 1,000,000 loan from 3+ lenders including Safaricom M-Pesa (powered by NCBA), Kenya Commercial Bank, Safaricom M-Pesa. Interest rates start from 12.5% p.a. Compare all options on PesaMarket to find the best rate for your needs.

What is the monthly payment for a KES 1,000,000 loan?

For a KES 1,000,000 loan at 12.5% p.a. over 12 months, you'd pay approximately KES 89,083 per month. Use our EMI calculator for exact figures based on your chosen loan term and interest rate.

What are the requirements for a KES 1,000,000 loan?

Requirements typically include: Kenyan ID/passport, age 18-65, minimum monthly income of KES 300,000 (varies by lender), valid KRA PIN, and good CRB status. Larger amounts may require collateral.

How fast can I get KES 1,000,000?

Digital lenders like Branch and Tala can approve and disburse within 5 minutes for amounts up to KES 50,000. Bank loans for KES 1,000,000 typically take 24-48 hours. M-Pesa loans (Fuliza, KCB M-Pesa) are instant but have lower limits.

Can I get a KES 1,000,000 loan without CRB check?

Most formal lenders check CRB, but some digital lenders like Fuliza and Tala may approve first-time borrowers or those with minor CRB issues. For KES 1,000,000, we recommend improving your CRB status first for better rates and higher approval chances.

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