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Branch Loans: High Limits, But Watch the APR
Branch offers loan limits up to KES 70,000 and alternative credit scoring. But, APRs can hit a steep 108%. Is it right for you?
The Quick Version
Branch Personal Loans shine with high limits up to KES 70,000 and flexible terms from 62 days to 12 months. The APR can be a low 24% but watch out—it can skyrocket to 108%. Alternative credit scoring means you can qualify without a traditional credit history, making it a solid option for those overlooked by conventional banks.
Branch Personal Loan
Branch offers flexibility but demands caution with high APRs.
Branch Personal Loan
What You Get
Branch provides loans up to KES 70,000 with terms ranging from 62 days to 12 months. The APR starts at 24% but can climb to a daunting 108%. Unlike many lenders, Branch uses alternative credit scoring, enabling those with limited credit history to access funds. No traditional paperwork means everything is done via their app.
What's Actually Good
The standout feature is the loan limit—higher than competitors like Tala. The app-based process is hassle-free, skipping the tedious paperwork traditional banks require. Plus, with alternative credit scoring, you have a shot even if your credit history isn’t stellar.
- ✅ High loan limits
- ✅ Flexible repayment terms
- ✅ Alternative credit scoring
The Catch
The APR range is the big downside here. While you might snag a 24% rate, it's more likely you'll end up closer to the upper limit of 108%. This can make repayments hefty if not managed carefully. Also, the app-centric approach may not suit everyone, especially those who prefer face-to-face interactions.
- ❌ High potential APR up to 108%
- ❌ App-only service might not suit everyone
Who Should Apply
Branch is best for those who need a larger loan quickly and don’t have a strong credit history. Ideal if you’re comfortable managing loans via an app and can handle potentially high interest rates. Not the best choice if you prefer traditional banking methods or have access to lower-APR options.
The Bottom Line
If you need up to KES 70,000 and don’t have a traditional credit history, Branch could be a lifeline—just keep an eye on those interest rates. For those curious about other loan types, check out our guide on Finding the Best Student Loans for Your Needs This Spring.
