Banks where Kenyans can get cheap credit

Central Bank of Kenya Governor Patrick Njoroge at a past event. FILE PHOTO | DIANA NGILA | NATION MEDIA GROUP

What you need to know:

  • Housing Finance and Family Bank had the lowest loan rates in the last quarter of 2015 while Middle East Bank and Guaranty Trust Bank were the most expensive.
  • In the personal loans category of between one and five years, K-Rep Bank at 25.7 per cent offered the most expensive credit as at mid-December 2015. Consolidated Bank comes second, charging 25.4 per cent interest as December 15.
  • The lender with the third cheapest personal loans is Middle East Commercial Bank at 24.2 per cent. UBA Bank takes the number four slot at 24.1 per cent on personal loans.

The Central Bank of Kenya has published average bank lending rates on its website showing the most expensive and least expensive lenders.

Welcome!

You're all set to enjoy unlimited Prime content.