10 Places to Access Personal Loans in Kenya

Simon Mwangi

Are you seeking personal loans in Kenya? Here is a list of credit-granting institutions in Kenya. If you’re worried about your finances preventing you from doing something you want to do? Here’s an idea: why don’t you apply for a loan?

Thousands of Kenyans utilize personal loans every year to consolidate debt, pay for unforeseen bills, upgrade their homes, and more.

Personal loans in Kenya have low interest rates and lower loan amounts than other forms of loans, making them attractive to customers with good credit.

A personal loan is money obtained from a bank, credit union, or internet lender that you repay in monthly installments or set monthly payments. Typically, the time span is between two and five years.

Lender rates differ from one institution to the next. So, here is a list of Kenyan institutions where you may get personal loans.

Personal Loans Providers in Kenya

Here is a list of places to get personal loans in Kenya:

1. Stanbic Bank Kenya

Stanbic Bank offers personal unsecured loans, which allow you to acquire assets, accomplish educational goals, and are custom-made to suit your lifestyle at very competitive rates.


  • Minimum loan amount of KES 50,000
  • Maximum loan amount of KES 4M*
  • Full loan term of 60 months
  • You can top-up your loan after six months of repaying your loan.
  • Competitive interest rates and facility fees
  • Credit life insurance on all loans
  • Approval time is within 48 hours after we get all your supporting documents.
  • *Maximum loan amount is subject to terms and conditions.

Loan Eligibility

  • You must have been in employment for the past two years
  • Be a salaried employee earning a minimum net salary of KES 40,000 a month
  • Your latest Payslip
  • Copy of ID or passport
  • PIN Certificate
  • Letter from your employer confirming terms of employment
  • Six months’ bank statements from another bank if you don’t bank with them.

2. NIC Personal loans in Kenya

NIC Bank personal loans are available to those with a regular income to finance private consumption and development needs.

You can borrow from KES 100,000 to KES 4M and pay it monthly over six months to 6 years*, making it easier to budget.

Loan Eligibility

  • Original and a copy of ID/passport (non-NIC Bank applicants)
  • Last six months’ bank statement (non-NIC Bank applicants)
  • Proof of income
  • One passport size photograph
  • Original and photocopy of KRA Pin certificate
  • Original and copy of a utility bill
  • Introduction letter from employer on company letterhead (salaried applicants)
  • In the course of repaying your loan, you may require more funds.

NIC Bank can advance you additional funds through a top-up loan once you have successfully repaid the current credit for at least six months.

3. Barclays Bank

Whether you have a sudden expense, a planned one, or need funds, a Barclay loan can be the edge that makes the impossible possible. You can either choose to have a secured loan or a Non-guaranteed loan.

Unsecured Loan Non check off  You don’t have to provide any collateral as security. Your salary determines the amount you qualify for. For personal use, this is the one.

Unsecured loan Check-off – With this Loan, Barclays signs a contract with a company to lend money to its employees, which gets deducted from their salaries.


  • Hassle-free application processes and quick approval times
  • Affordable loan insurance with a Barclay loan
  • No sudden increases due to fixed interest rates
  • Flexible repayment options based on your other financial obligations
  • Advanced support for you to manage your loan more easily


  • Available to self-employed, employed, or contract workers
  • Affordable credit life insurance
  • Borrow up to KES 6M*
  • Flexible repayment of 12 – 72 months
  • Competitive interest rates and fees
  • No collateral or security is needed to apply for the loan
  • *Terms and conditions apply

Requirements for salaried customers

  • Latest Payslip
  • Bank statements for six months

4. Co-operative Bank Personal loans

Whether you want to make a significant purchase, finance a wedding, or pay school fees, a Co-op Bank Personal Loan is a convenient and straightforward borrowing solution to help you reach your goals.

To qualify for this loan, one needs to be employed or have a regular income.


  • Minimum loan amount of KES 50,000
  • Maximum loan amount of KES 4M
  • A maximum term of 72 months
  • Purposes to be covered include education, medical, furniture, consumer durables, motor vehicles, plot purchase, holidays, and shares.
  • Applications to be appraised using credit scoring
  • Claims assessed within 48 hours


  • Original National Identity Card and a copy
  • Original PIN Certificate and a copy
  • No specific minimum net salary is required
  • Salary payslips for the last three months
  • I filled in the loan application form
  • Copy of KRA PIN

5. HF Group

To qualify for a personal loan at HF Group, one needs to be salaried.


  • Original National Identity Card and a copy
  • Original PIN Certificate and a copy
  • No specific minimum net salary is required
  • Salary payslips for the last three months
  • I filled in the loan application form
  • Copy of KRA PIN


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

6. KCB Bank

KCB Bank offers unsecured loans and grants them to individuals to meet their own needs without the requirement for a security deposit.


  • Open to employed/self-employed individuals with a regular steady income.
  • The repayment period is of up to 48 months.
  • No security deposit is required.
  • From as low as KES 20,000 to as high as KES 4M


  • Must have had an account with KCB for at least three months
  • Original and 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 maximum of 48 months (4 years)

Interest rate and other fees, e.g., negotiation fees and an insurance premium, to be advised by the personal banker at your branch

7. NCBA Bank Personal loans in Kenya

CBA Bank (now NCBA as of October 2019) offers secure and unsecured personal loans to their clientele.

Unsecured loans


  • You can borrow in Kenyan Shillings or major foreign currencies such as USD, EURO, and GBP (if your income/salary is in a foreign currency).
  • The application process is short and straightforward.
  • There is no penalty for early repayment.
  • Loan Protection Insurance – to cover your repayments in case of accidental death or accidental permanent disability.


  • Your payslips for the latest three months.
  • Certified copies of bank statements for the latest six months.
  • A letter of reference from your current employer

Secured Loans


  • The minimum loan amount is KES 50,000
  • The maximum loan amount depends on the value of security and ability to pay.
  • Interest is charged on a reducing balance basis.
  • You can use your Kenya Shillings or foreign currency deposits such as USD, EURO, and GBP and borrow up to 90% of the deposit amounts.
  • Flexible borrowing options
  • The application process is short and straightforward.
  • Loan Protection Insurance

Acceptable securities:

  • Deposits were held at NCBA.
  • Government securities.
  • Fully paid stocks and shares are quoted on the Nairobi Stock Exchange.
  • Property titles with the first legal charge on the bank.


  • Your payslips for the latest three months.
  • Certified copies of bank statements for the latest six months.
  • A Personal Financial Statement (if not salaried)
  • A letter of reference from your current employer.

8. Equity Bank Personal loans

Equiloan is a product for salaried customers meant to meet development needs and acquire assets. To many, Equity bank is an excellent source for personal loans in Kenya.


  • Few requirements are required from the customer, i.e., Payslip, identification documents, and employment letter.
  • The employer must have an MOU with Equity BankLimited, thus preferential terms.
  • A long-term facility enabling the clients to pay without straining financially
  • Deducted from source on check-off hence secure loan recovery method
  • Granted to customers whose employers have an MOU, on the check-off arrangement, with Equity Bank
  • The maximum amount is dependent on a customer’s ability to pay.
  • Maximum repayment period of up to 72 months

9. Loan Apps in Kenya

In this day and age, most Kenyans own a smartphone. These phones are the cause many Kenyans are turning to their phones to access personal loans in Kenya.

You can read more on loan apps to find out which application is better for you. Several loan apps include Tala loan, Zenka Loan and Branch Loan, and many others.

10. SACCOs

SACCOs are deposit-taking in nature and are an ideal way to channel your savings. The SACCO aggregates the savings and lends them out or invests in authorized instruments such as shares, treasury bills and bonds, and in some cases, property as permitted by the bylaws.

This is a good source of personal loans in Kenya, where you can borrow up to six times your savings.

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As a freelance writer with a background in banking and accounting, Simon has the financial know-how to produce quality content on various topics. His experience gives him a strong foundation in understanding complex financial concepts and communicating them in an easy-to-understand way.
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