Last updated on March 8th, 2023 at 01:41 am
Kenya, the East African economic powerhouse, has a thriving banking sector that plays a crucial role in the country’s economic development.
With a range of financial products and services on offer, Kenyan banks have made significant contributions towards improving the standard of living and enhancing the overall financial literacy of the country’s population.
One of the most important products offered by banks is loans, which are essential for individuals and businesses looking to invest, expand or meet unexpected financial obligations.
However, with so many banks operating in the Kenyan market, it can be challenging to determine which bank offers the best loan products.
In this article, we will provide a comprehensive list of the best banks for loans in Kenya, taking into account factors such as interest rates, repayment terms, and customer service.
List of Best Banks for Loans in Kenya
Bank Name | Loan Types Offered | Interest Rates | Repayment Terms | Customer Service | Credit Scores |
---|---|---|---|---|---|
Equity Bank | Personal Loans, Business Loans, Home Loans, Car Loans | 12%-25% | 1-5 years | Excellent | 600+ |
KCB Bank | Personal Loans, Business Loans, Home Loans, Car Loans | 13%-24% | 1-6 years | Good | 550+ |
Cooperative Bank | Personal Loans, Business Loans, Home Loans, Car Loans | 12%-22% | 1-6 years | Fair | 500+ |
Barclays Bank | Personal Loans, Business Loans, Home Loans, Car Loans | 14%-26% | 1-5 years | Good | 550+ |
Standard Chartered Bank | Personal Loans, Business Loans, Home Loans, Car Loans | 13%-25% | 1-7 years | Excellent | 650+ |
CBA Bank | Personal Loans, Business Loans, Home Loans, Car Loans | 11%-23% | 1-5 years | Good | 550+ |
NIC Bank | Personal Loans, Business Loans, Home Loans, Car Loans | 12%-24% | 1-5 years | Fair | 500+ |
Family Bank | Personal Loans, Business Loans, Home Loans, Car Loans | 14%-25% | 1-5 years | Good | 550+ |
DTB Bank | Personal Loans, Business Loans, Home Loans, Car Loans | 13%-26% | 1-5 years | Excellent | 650+ |
Gulf African Bank | Personal Loans, Business Loans, Home Loans, Car Loans | 13%-24% | 1-5 years | Fair | 500+ |
National Bank | Personal Loans, Business Loans, Home Loans, Car Loans | 12%-26% | 1-6 years | Good | 550+ |
Sidian Bank | Personal Loans, Business Loans, Home Loans, Car Loans | 11%-23% | 1-5 years | Fair | 500+ |
Bank of Africa | Personal Loans, Business Loans, Home Loans, Car Loans | 12%-24% | 1-6 years | Good | 550+ |
I&M Bank | Personal Loans, Business Loans, Home Loans, Car Loans | 13%-25% | 1-5 years | Excellent | 650+ |
HF Group | Personal Loans, Business Loans, Home Loans, Car Loans | 14%-26% | 1-7 years | Good | 550+ |