Personal loans have become a popular way for Kenyans to access quick financing for various needs, from emergencies to business ventures. As the demand for loans grows, numerous providers have entered the market, each offering unique benefits and terms. Here are the top 10 personal loan providers in Kenya for 2025:
1. M-Pesa (Fuliza and M-Shwari)
M-Pesa remains a favorite among Kenyans, thanks to its convenience and accessibility. Fuliza allows users to access overdrafts for small amounts, while M-Shwari offers loans to M-Pesa users based on their savings and transaction history.
- Loan Limits: Up to Ksh 50,000
- Interest Rates: 7.5% per month
- Application Process: Through the M-Pesa app or USSD code
2. KCB M-Pesa
A partnership between Safaricom and KCB Bank, KCB M-Pesa provides loans to customers directly through the M-Pesa platform.
- Loan Limits: Up to Ksh 1,000,000
- Interest Rates: 8.64% per month
- Repayment Period: 30 days
3. Tala
Tala is one of Kenya’s leading mobile loan apps, offering fast loans with flexible repayment options. It uses smartphone data to assess creditworthiness.
- Loan Limits: Ksh 500 to Ksh 50,000
- Interest Rates: 15% per month
- Repayment Period: 21 to 30 days
4. Branch
Branch is another trusted mobile app for personal loans, providing quick disbursements without requiring collateral.
- Loan Limits: Ksh 250 to Ksh 70,000
- Interest Rates: 13% to 29% (varies with loan size and repayment history)
- Repayment Period: Up to 62 days
5. Equity Bank
Equity Bank offers personalized loans through their Eazzy Banking app and traditional banking channels, catering to both salaried and self-employed individuals.
- Loan Limits: Up to Ksh 3,000,000
- Interest Rates: 13% per annum
- Repayment Period: Flexible, up to 24 months
6. Co-op Bank Personal Loans
Co-operative Bank is a reliable choice for those seeking larger loans, especially salaried individuals and SMEs.
- Loan Limits: Based on income
- Interest Rates: From 13% per annum
- Repayment Period: Up to 48 months
7. Zenka
Zenka provides fast mobile loans and is known for offering first-time users a zero-interest loan as an introductory benefit.
- Loan Limits: Ksh 500 to Ksh 30,000
- Interest Rates: 11% to 29% per month
- Repayment Period: 30 days
8. HF Whizz
Housing Finance’s HF Whizz app offers affordable personal loans to users, focusing on ease of access and quick disbursement.
- Loan Limits: Ksh 1,000 to Ksh 50,000
- Interest Rates: 7.5% per month
- Repayment Period: 30 days
9. Timiza by Absa Bank
Timiza provides quick personal loans directly through its mobile app, enabling users to manage their finances conveniently.
- Loan Limits: Up to Ksh 150,000
- Interest Rates: 13% per month
- Repayment Period: 30 days
10. M-Coop Cash
Co-operative Bank’s M-Coop Cash service offers digital loans to its customers via mobile phones.
- Loan Limits: Based on account history
- Interest Rates: 1.17% per month
- Repayment Period: Up to 12 months
Conclusion
These personal loan providers offer diverse options to suit different financial needs. Whether you’re looking for a small emergency loan or a larger amount to fund a project, the above institutions provide competitive terms.
Before applying for any loan, ensure you understand the terms and conditions, including the interest rates and repayment schedules, to make an informed decision. Always borrow responsibly to avoid financial strain.
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