Simplify your finances by combining multiple debts into one manageable payment. Compare debt consolidation loans with lower interest rates.
See exactly how much you'll pay each month
Mogo Kenya
2.5% - 4% p.a.
KES 50,000 - 5,000,000
Letshego Kenya
5.25% - 24% p.a.
KES 250 - 500,000
Faulu Microfinance Bank
9.5% - 34% p.a.
KES 10,000 - 3,000,000
Kenya Commercial Bank
11% - 14% p.a.
KES 100,000 - 20,000,000
NCBA Bank
12% - 18% p.a.
KES 50,000 - 7,000,000
Debt consolidation combines multiple debts (credit cards, loans, overdrafts) into one loan with a single monthly payment, ideally at a lower interest rate. You take a personal loan, pay off existing debts, and then repay the consolidation loan over time.
Consolidation makes sense if: 1) You can get a lower interest rate, 2) You want to simplify multiple payments, 3) You need to reduce monthly payments. It's not ideal if it extends debt significantly or if you'll accumulate new debt.
Yes, you can use a bank personal loan to pay off multiple mobile app loans (Tala, Branch, M-Shwari). This often reduces your effective interest rate from 100%+ p.a. to 15-20% p.a. Ensure the new loan amount covers all existing debts.
Requirements include: Proof of existing debts to consolidate, income verification (payslips or bank statements), national ID, KRA PIN, and acceptable CRB status. Some lenders are stricter - shop around if you have credit issues.
Compare 17 loan options and find the best rates for your needs.
ABSA Bank Kenya
13% - 16% p.a.
KES 50,000 - 5,000,000
Equity Bank Kenya
13% - 16% p.a.
KES 50,000 - 5,000,000
Kenya Commercial Bank
13% - 15.5% p.a.
KES 300,000 - 15,000,000
Stanbic Bank Kenya
13% - 17% p.a.
KES 100,000 - 15,000,000