Types of Loans in Kenya
Compare loan options available to Kenyan borrowers
Mobile Loans
CBKLoans via M-Pesa, Tala, Branch, and other mobile platforms. Instant disbursement, no collateral needed. CRB check may apply.
✅ Pros
- • Instant via M-Pesa
- • No documents needed
- • Available 24/7
⚠️ Cons
- • Very high APR
- • Small amounts
- • CRB reporting
Personal Loans
CBKUnsecured loans from commercial banks. Competitive rates for salaried employees with good CRB scores.
✅ Pros
- • Lower rates
- • Larger amounts
- • Credit building
⚠️ Cons
- • Income proof required
- • CRB check
- • Slower approval
SACCO Loans
SASRAMember-owned cooperative loans. Typically 3x your savings balance. Very competitive rates through check-off system.
✅ Pros
- • Lowest rates
- • Check-off repayment
- • Member-owned
⚠️ Cons
- • Must be member
- • Savings required
- • Limited amounts
Logbook Loans
CBKLoans secured by your vehicle registration (logbook). Keep driving while repaying. Risk: vehicle repossession on default.
✅ Pros
- • Keep your vehicle
- • Larger amounts
- • Quick approval
⚠️ Cons
- • Vehicle at risk
- • Higher rates
- • Depreciation
FAQ
Which mobile loan app is cheapest in Kenya?
M-Shwari and KCB M-Pesa typically offer the lowest fees for mobile loans. Compare the total cost including all fees — not just the advertised rate. Check that the app is licensed by CBK.
How can I improve my CRB score?
Pay all loans on time, start with small mobile loans and repay promptly, avoid multiple loan applications, and check your free annual CRB report for errors.
Credizen
Editorial review not recorded.
Advertising or partner fees do not determine recommendation order.