HomeFINANCE10 Better Places to Access Personal Loans in Kenya

10 Better Places to Access Personal Loans in Kenya

Are you peeking for a personal loan in Kenya? Well, here is the checklist of institutions to get credits in Kenya. If you are worried because your finances are keeping you back from something you want to do? Here’s a review, why not apply for a loan.

Every year, millions of Kenyans use confidential loans to consolidate debt, pay for unforeseen expenses, make home improvements, and more.
Personal loans in Kenya present low-interest rates for consumers with fine credit, and they are typically smaller loans amount than other types of loans.
A personal loan is cash borrowed from a bank, credit union, or online lender that you pay back in fixed monthly costs or installments. The time is usually around two to five years.
Lender rates can differ from institution to institution. So here is a list of organizations to access personal loans in Kenya
Personal loans in Kenya providers
Here is a list of sites to get personal loans in Kenya:

Stanbic Kenya

Stanbic Bank presents personal unsecured loans, which let you to acquire assets, accomplish academic goals, and are custom-made to fit your lifestyle at very competitive rates.

What it offers you?

Minimum loan cut of KSh50,000
Highest loan amount of KSh4 million
Full loan period of sixty months
You can top-up your loans after six months of compensating your loan.
Competitive interest rates and installation fees
Credit life insurance on all loans
Authorization time is within 48 hours after we obtain all your supporting documents.
Maximum loan amount is subject to periods and conditions.

Loan Eligibility

You must have been in job for the past two years
Be a salaried worker earning a minimum net salary of KSh40,000 a month
Your most delinquent PayslipPayslip
Copy of ID or passport
PIN Certificate
Note from your employer confirming the duration of employment
Six months’ bank information from another bank if you don’t bank with us.
NIC Personal loans in Kenya
NIC Bank private loans are available to those with a regular income to finance personal consumption and development needs.
You can borrow from Khs 100,000- Ksh 4,000,000 and pay it monthly over a period from 6 months to 6 years making it easier to budget.

Loan Eligibility

Original and a copy of ID or passport (non-NIC Bank )
Last six months bank invoice (non-NIC Bank)
Proof of your income
One passport size photograph
Original & photocopy of KRA Pin certificate
Original & copy of a utility bill
Introduction letter from employer on firm letterhead(salaried applicants)
In the course of compensating your loan, you may need more funds.
NIC Bank can progress you additional funds through a top-up loan once you have successfully refunded the current credit for at least 6 months.

Barclays Bank

Whether you have a hasty expense, a planned one, or need funds, a Barclayloan can be the rim that makes the impossible possible. You can either decide to have a secured loans or a Non-guaranteed loan.
Unsecured Loan Non check off – Individuals don’t have to deliver any collateral as security. Your salary defines the amount one qualify for. For personal use, this is the one.
Unsecured loan Checkoff With this Loan, Barclays marks a contract with a company to lend money to its workers, which gets deducted from their salaries.

What it offers you

Hassle-free application procedures and quick approval times
Reasonable loan insurance with a Barclayloan
No sudden expansions due to fixed interest rates
Flexible repayment prospects based on your other financial obligations
Advanced support for you to handle your loan more easily

What you get

Available to self-employed, employed, or agreement workers
Cheap credit life insurance
Borrow up to Ksh 6 million
Adaptable repayment of 12 to 72 months
Competitive interest rates & fees
No collateral or protection is needed to apply for the loan

Terms & conditions apply
What you need for salaried customers
Latest PayslipPayslip
Bank information for six months

Co-operative Bank Personal loans

Whether you want to make a substantial purchase, finance a wedding, or pay school fees, a Co-op Bank Personal Loan is a timely and straightforward borrowing answer to help you reach your goals.
For one to permit for this loan, one needs to be hired or have a regular income.

What it offers

Minimum loan amount of Ksh 50,000
Highest loan amount of Ksh 4,000,000
A full term of 72 months
Aims to be covered include education, motor vehicles, plot purchase, holidays, medical, furniture, consumer durables and shares.
Applications to be appraised employing credit scoring
Claims levied within 48 hours

What you need to apply

Initial National Identity Card & a copy
Original PIN Certificate a& a copy
No exact minimum net salary is needed.
Earnings payslips for the last three months
I served in the loan application form
A copy of KRA PIN

HF Group

For one to authorize for a personal loan at HF Group, one requires to be salaried.

What it offers

Original National Identity Card a&a copy
Original PIN Certificate and 1 copy
No exact minimum net salary is needed
Salary payslips for the last 3 months
I filled in the loan application form
Copy of KRA PIN

What you need to apply

National ID or passport
KRA PIN certificate
The previous three months
You might also get private loans from the HF Whizz app.

KCB Bank

KCB Bank presents unsecured loans and grants them to people to meet their own needs without a security deposit.

What it offers

Available to employed/self-employed people with a regular steady income.
The repayment duration is of up to 48 months.
No security deposit is needed.
From lower than Kshs 20,000 to as lofty as Kshs 4M

What you need to apply

Must have an account with KCB bank for at least 3 months
Original & copy of National ID or passport
Employment card (where applicable)
Latest original payslips (where appropriate)
Proof of income for self-employed individuals
Rates & Fees
The repayment period is a max of 48 months (4 years)
Interest rate & other fees, e.g., negotiation fees and an insurance premium, to be informed by the personal banker at your branch

NCBA Bank Personal loans in Kenya

CBA Bank (now NCBA as of mid-October 2019) offers protected and unsecured personal loans to their clientele.
Unsecured loans

What it offers

You can borrow in Kenya Shillings and major foreign currencies such as USD, EURO, & GBP (if your income or salary is in a foreign currency).
The application procedure is short and straightforward.
There is no punishment for early repayment.
Loan Protection Insurance – to protect your repayments in case of accidental death or accidental enduring disability.

What you need to apply

Your payslips for the latest 3 months.
Certified copy of banks statements for the latest 6 months.
A letter of authority from your current employer
Secured Loans

What it offers

The lowest loan amount is Ksh 50,000
The highest loan amount depends on the value of protection and ability to pay.
Interest is charged on a reducing credit basis.
You can use your Kenya Shillings & foreign currency deposits such as USD, EURO, & GBP and borrow up to 90% of the deposit amounts.
Adaptable borrowing options
The application procedure is short and straightforward.
Loan Protection Insurance
Acceptable securities:
Deposits were maintained at NCBA.
Government protection.
Completely paid stocks and shares mentioned in the Nairobi Stock Exchange.
Property titles with the foremost legal charge on the bank.

What you need to apply

Your payslips for the latest3 months.
Certified copy of bank’s statements for the latest 6 months.
A Individual Financial Statement (if not salaried)
A letter of authority from your current employer.

Equity Bank Personal loans

Equity loan is a product for salaried customers suggested to meet development requirements and the acquisition of assets. To many, Equity bank is an ideal source for personal loans in Kenya.

What it offers

Few provisions are required from the client, i.e., Payslip, identification documents & employment letter
The employer must have an MOU with Equity Bank Limited, therefore preferential terms.
A long term structure enabling the clients to pay without pulling financially
Deducted from source on check-off hence secured loan recovery method


Endowed to customers whose employers hold an MOU, on the check-off arrangement, with Equity Bank
The highest amount is dependent on a customer’s capacity to pay.
Highest repayment period of up to 72 months

Loan Apps in Kenya

In this day & age, most Kenyans possess a smartphone. These phones are the reason many Kenyans are shifting to their phones to access personal loans in Kenya.


SACCOs are deposit taking in nature and are a perfect way to channel your savings. The SACCO aggregates the savings and loans them out or invests in approved instruments such as percentages, treasury bills & bonds, and in some cases, property as permitted by the bylaws.
This is a fine source of personal loans in Kenya, where you can borrow up to 6 times your savings.




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