💰 Personal Loans in Kenya

Finding the right personal loan in Kenya doesn't have to be complicated. At PesaMarket, we've compared 13 personal loans from Kenya's leading banks and financial institutions to help you make an informed decision.

How to Get the Best Personal Loan in Kenya

Personal loans in Kenya offer quick access to funds for emergencies, debt consolidation, home improvements, or major purchases. Here's what you need to know:

• Interest Rates: Typically range from 13% to 18% per annum for bank loans, and up to 30%+ for digital lenders.
• Loan Amounts: From KES 10,000 to KES 5,000,000 depending on your income and credit history.
• Repayment Period: Usually 1 to 60 months (5 years).
• Processing Time: Banks take 3-7 days; digital lenders offer instant approval.
• Collateral: Most personal loans are unsecured, but some banks require guarantors.

Types of Personal Loans in Kenya

• Bank Personal Loans: Traditional loans from KCB, Equity, Co-op Bank with competitive rates.
• Check-off Loans: Deducted directly from salary - available to salaried employees.
• Digital App Loans: Branch, Tala, Zenka - instant approval via mobile app.
• Mobile Money Loans: M-Shwari, KCB M-Pesa - instant loans via M-Pesa.
• SACCO Loans: Lower rates for SACCO members with shareholding requirements.

Personal Loan Eligibility Requirements

Basic requirements for personal loans in Kenya:

• Age: 21-65 years (varies by lender)
• Minimum income: KES 20,000 - KES 50,000 per month
• Employment: At least 6 months with current employer (for salaried)
• Clean CRB report (no negative listings)
• Valid national ID and KRA PIN
• Bank statements for last 3-6 months

Frequently Asked Questions