List of banking institutions to get personal loans in Kenya


You are stressed because your finances are holding you back from something you want to do? Here’s a thought, why not apply for a personal loan. In this article is a list of institutions to get personal loans in Kenya.

Every year, millions of Kenyans use personal loans to consolidate debt, pay for unexpected expenses, make home improvements and more.

Personal loans offer low-interest rates for consumers with good credit, and they are generally smaller loan amounts than other types of loans.

A personal loan is money borrowed from a bank, credit union or online lender that you pay back in fixed monthly payments, or instalments, typically over two to five years.

Lender rates can vary from institution to institution.

List of Institutions to get personal loans in Kenya

1. Stanbic Kenya

personal loans in Kenya

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

What it offers you?

  • Minimum loan amount of KSh50,000
  • Maximum loan amount of KSh4 million*
  • Maximum 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 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 KSh40,000 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 us.

Download Application Form Here

2. NIC Bank

personal loans in Kenya

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

You can borrow from Khs 100,000 to Ksh 4,000,000 and pay it monthly over a term from 6 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 top-up loan once you have successfully repaid the current credit for at least six months.

3. Barclays Bank

personal loans in Kenya

Whether you have a sudden expense, a planned one or need funds, a Barclayloan 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 then gets deducted off their salaries.

What it offers you

  • Hassle-free application processes and quick approval times
  • Affordable loan insurance with a Barclayloan
  • 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
What you get
  • Available to self-employed, employed or contract workers
  • Affordable credit life insurance
  • Borrow up to Ksh 6 million*
  • Flexible repayment of 12 – 72 months
  • Competitive interest rates and fees
  • No collateral or security needed to apply for the loan

*Terms and conditions apply

What you need for salaried customers
  • Latest payslip
  • Bank statements for six months

4. Cooperative Bank

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.

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

What it offers

  • Minimum loan amount of Ksh 50,000
  • Maximum loan amount of Ksh 4,000,000
  • 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
  • Applications assessed within 48 hours
What you need to apply
  • 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
  • Filled in loan application form
  • Copy of KRA PIN

5. HF Group

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

What it offers

  • 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
  • Filled in loan application form
  • Copy of KRA PIN
 What you need to apply
  • National ID or passport
  • KRA PIN certificate
  • The previous three months

6. KCB Bank

personal loans in Kenya

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

What it offers

  • Open to employed/self-employed individuals with a regular steady income.
  • Repayment period of up to 48 months.
  • No security deposit required.
  • From as low as Kshs 20,000 to as high as Kshs 4M
What you need to apply 
  • 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 pay slips (where appropriate)
  • Proof of income for self-employed individuals
Rates & Fees
  • 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. CBA Bank

personal loans in Kenya

CBA Bank offers both secured and unsecured loans to their clientele.

Unsecured loans

What it offers

  • You can borrow in Kenya Shillings or in 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.

What you need to apply

  • 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

What it offers

  • The minimum loan amount Ksh 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 simple
  • Loan Protection Insurance

Acceptable securities:

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

What you need to apply

  • 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.

Click here for Application Form

8. Equity Bank

personal loans in Kenya

Equiloan is a product for salaried customers meant to meet development needs and acquisition of assets

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