Personal loans are one of the most common forms of credit in Kenya, used for emergencies, education, household expenses, business support, and short-term cash needs. With options ranging from traditional banks to mobile lending apps, borrowers today have more choices than ever — but also more complexity.
This guide provides an educational overview of personal loans in Kenya, explains how different options work, and highlights key factors to consider before borrowing. Our aim is to help you understand loan costs, eligibility requirements, and repayment obligations so you can make informed financial decisions.
Important: Epesaloans is an informational platform. We do not issue loans, process applications, or provide personalised financial advice.
A personal loan is a form of credit that allows an individual to borrow money and repay it over a fixed period with interest. In Kenya, personal loans may be offered as unsecured credit (without collateral) or secured loans backed by assets, guarantors, or salary income.
Unlike business or asset-financing loans, personal loans are generally flexible and may be used for a wide range of purposes, provided the borrower meets the lender’s requirements.
Different lenders offer personal loans tailored to specific borrower profiles. Understanding these categories can help you identify which option may suit your situation.
The total cost of a personal loan depends on more than just the advertised interest rate. Borrowers should consider processing fees, late payment penalties, rollover charges, and the repayment period.
Bank personal loans in Kenya often charge annual interest rates that vary by borrower profile, while mobile loans may use shorter repayment cycles with higher effective costs.
Always review the lender’s full terms and conditions and ensure you understand the total amount repayable before accepting a loan offer.
Our comparison tools are designed to help users review loan features, eligibility requirements, and repayment terms side by side.
Use Loan Comparison ToolInterest rates vary depending on the lender and borrower profile. Banks typically offer lower annual rates, while mobile lenders may charge higher effective costs due to shorter terms.
Yes. Some lenders offer loans to self-employed individuals using bank statements, guarantors, or alternative income verification.
Certain lenders and mobile apps provide loans without strict CRB checks, but these options often come with higher costs and shorter repayment periods.
Mobile loan apps may disburse funds instantly, while bank loans can take between one and several business days depending on documentation and approval processes.
This page is provided for general informational purposes only. Epesaloans does not provide loans or financial products. Borrowers should independently verify lender terms and consult licensed financial institutions before making borrowing decisions.