Personal Loans in Kenya: Rate, Term, and Cost Trade-offs

Standard Chartered has the lowest listed starting rate in this comparison at 12.0%, with a stated range up to 15.0% and terms up to nine months. That gives it the strongest headline pricing, but the page supplied for review is only a notice that redirects users to another website, so key details such as fees, eligibility, monthly payments, and approval time remain unverified here. I would start with this lender if you have stable income and can qualify near the lower end, then compare the written total repayment against I&M Bank. Best for a salaried borrower who wants the lowest advertised bank rate and is willing to confirm the fine print before applying.

I&M Bank’s 13.0%-16.0% range is only one percentage point above Standard Chartered at the starting end, and the range is narrower than several alternatives here. The supplied page mainly promotes the I&M On The Go app and does not publish loan fees, eligibility rules, or a repayment example, so the rate alone cannot establish the cheapest total cost. Still, an existing I&M customer may find the application route more convenient through the bank’s digital platform. Best for an I&M account holder with regular income who wants a short-term bank loan and can verify the final quote inside the official application.

DTB lists 14.0%-17.0% and specifically advertises an unsecured school-fees loan of up to KES 1,000,000 per student, with monthly repayment tenures. That purpose-specific information is more useful than a generic personal-loan headline if education costs are the reason for borrowing. The rate starts one point above I&M’s maximum starting rate, and the supplied page does not disclose an origination fee, late charge, or exact term schedule. Best for a parent financing current-year school fees who needs a larger stated limit and can manage the monthly repayment.

Equity Bank’s listed 14.0%-17.0% range matches DTB’s pricing, but the supplied page content is mainly navigation for Equity’s Kenya and regional sites rather than a loan quote. That means there is no verified fee schedule, approval time, maximum amount, or repayment example to weigh against DTB’s school-fees detail. I would not choose between the two on rate alone; ask both for the same principal, term, total repayment, and all mandatory charges. Best for an existing Equity customer who values a familiar banking relationship and can obtain a written offer before accepting.

National Bank lists 14.0%-18.0%, giving it the widest rate range among the bank offers reviewed so far and a ceiling two points above DTB and Equity. The official page identifies the product as an unsecured personal loan, but the supplied extract does not reveal fees, income criteria, loan size, or payment examples. That missing information matters: an 18% quote plus an origination fee could cost more than a 17% competitor with no upfront charge. Best for a borrower already banking with National Bank who can confirm the exact unsecured-loan cost in writing.

Family Bank sits at 15.0%-18.0%, tying NCBA’s starting rate while reaching the same 18% ceiling as National Bank. The supplied page is dominated by privacy and cookie notices, so there is no usable evidence here on fees, approval speed, loan limits, or eligibility. That makes this a quote-first product rather than a rate-first recommendation. Ask for a full repayment schedule before comparing it with NCBA, because the two have identical listed pricing but may differ in non-interest charges. Best for a Family Bank customer who can use an existing relationship to request a detailed personal-loan quote.

NCBA lists 15.0%-18.0%, matching Family Bank at the starting end and staying below Faulu’s minimum rate. The supplied page content focuses on asset finance and does not provide a personal-loan fee schedule, eligibility rules, or approval time, so the product needs direct verification before it can be ranked on total cost. For a borrower comparing conventional banks, NCBA belongs in the same quote round as Family Bank and National Bank. Best for an existing NCBA customer with predictable income who wants a bank-issued personal-loan quote rather than an app-based emergency product.

Zenka advertises borrowing up to KES 200,000 through its app and states terms up to nine months, but the supplied page does not publish a rate range. That missing number is the central weakness: a zero shown in the comparison data is not evidence of a zero-cost loan. Check the total repayment, service fee, late charge, and consequences of missed payment before accepting. Best for a borrower needing a relatively small amount up to KES 200,000 who values app access and can confirm the complete cost before disbursement.

Faulu advertises an emergency loan of up to KES 500,000 within 24 hours, while its listed rate range is 20.0%-26.0%. The speed and stated limit are useful when a bill cannot wait, but the minimum rate is five points above NCBA’s starting rate and the maximum is eight points above. A 24-hour promise also does not tell you the approval conditions or final total repayment. Best for an employed borrower facing a genuine urgent expense who has checked the full cost and can repay within the short stated term.

Branch has the broadest and most expensive listed range here: 24.0%-108.0%, with terms up to nine months. The official site describes an app-led model with paperwork reduced, but convenience cannot compensate for a possible 108% rate. This is the one I would place last for planned borrowing; compare a bank quote first, even if the application takes longer. Best only for a borrower who has exhausted lower-cost sources, understands the total repayment in writing, and needs a small short-term amount rather than long-term debt.