Where to get Unsecured Personal loans in Kenya (And the terms)

Unsecured personal loans in Kenya can be a quick-fire solution to pressing money needs. They are thus, unsurprisingly, very popular among Kenyans from all economic sectors.

Speaking of which, Kenyans are generally spoilt for choice when it comes to borrowing.

From Banks to the gazillion apps offering soft loans and even SACCOs, you have tens of innovative loan products to choose from.

Of course, you have to be careful when selecting as some of the lenders are pretty expensive and can be quite ruthless if you delay repayments.

And that’s where we come in…

We have been looking around and comparing the various offers for unsecured personal loans in Kenya in an effort to see the most affordable.

Here is an analysis of the various small loans in Kenya offers and the terms.

I will also be showing you where to get instant unsecured loans in Kenya.

Let’s dive right in:

Standard Chartered Kenya personal loans

If you meet all the requirements, Standard chartered approves loans within 3 working days.

One can borrow up to Kes.7,000,000  though this may be adjusted downwards based on the credit history and the income of the borrower.

The bank offers 2 loan options:

1.      Personal Loan

This is only for account holders whose salaries come through the bank.

2.        Scheme Loan

This loan is available for employees of companies which have a check off arrangement with Standard Chartered Bank Kenya. To qualify for this loan, you’ll need to confirm whether your employer has such an agreement with the bank.

As usual, repayments are deducted directly from your pay.


  • Standard chartered bank Kenya allows a longer repayment period of up to 6 years.
  • The maximum you can borrow is KES 7 Million which is more than some banks. For example, Barclays Bank’s offers a maximum of Khs.6 Million.
  • You can apply online.
  • You can qualify for a scheme loan with a salary of as little as kes.15,000.
  • The loan is available even for non-standard chartered bank customers.


  • You must be earning at least Kes. 40,000 to qualify for a personal loan.


Bank clients need just to provide a copy of the payslip (certified) while non-clients will need the following;

  • Introduction letter from the employer printed on your company’s letterhead.
  • Six months bank statements (original) from your current banker.
  • Copy of your ID / passport.
  • Certified copy of your payslip.
  • One passport-sized photograph.

·        ALSO READ: CRB contacts and how to know if you are in CRB


Barclays Bank Personal Loan

Barclays lends up to Kes.6 Million and like Standard Chartered, you have a maximum of 6 years to repay.

They lend to the salaried, business people, and contract workers while their loans come with one of the most affordable loan life insurance


  • Barclay’s bank loan insurance is slightly cheaper
  • There’s a longer repayment term of up to 6 years.
  • The loan is available even for non-Barclays bank customers.


  • You can only access a maximum of Kes. 6 Million.



Barclays account holders require you to furnish them with a recent certified payslip, KRA Pin Certificate, and National ID card/passport

Those who bank with other banks should provide their last 2 months payslips (certified), certified bank statements (from the previous three months), one passport photo, and KRA – PIN.

Cooperative Bank Personal Loan

Just like its peers Barclays and Stan Chart, Cooperative bank expressly lends to employed individuals or those with a consistent income.

The minimum you can borrow is shs.50000 rising to a maximum of shs.4000000. At the same time, the longest allowable repayment duration is 72 months (6 years), which is more or less the standard amongst tier 1 banks.

The loan is, obviously flexible and will allow you to choose a lesser period, if you so wish.

In determining how much it will lend, the bank also looks at your credit score.

They usually give feedback within 48 hours of submitting your application.

Late payments can , however, be super costly with cooperative bank charging an extra late payment fee depending on the late amounts.


You have to submit your original national ID card (and a copy), Original KRA PIN Certificate plus a copy, and your salary payslips (or bank statements from your previous banker) for the last three months.

They lend salaried ‘outsiders’ but the bank usually opens an account for non-account holders during the application process.


  • Top-ups easily approved (if you’ve been paying well).
  • No set minimum net salary.
  • Instant appraisals. You can get the money within 3 days.
  • They don’t ask for guarantors (if you’re salaried)


  • The maximum of shs.4 million is lower than both Stan chart and Barclays bank.Unsecured Personal loans in Kenya

Equity Bank EquiLoan

Equity prefers salaried borrowers for its Equiloan product so most of the self-employed have to make do with their app-based equity bank Eazzy loan, one of the most popular loan apps in Kenya.

That being said, they have customized business loans for their current account holders so you can take that route if you’re in business though you’ve to contend with some tough conditions.

Equiloan requirements

As I mentioned, this is specifically for salaried customers. Besides, your employer must have an active check-off MOU with the bank.

You have to bring a copy of your recent payslip, your ID copy and KRA PIN, plus a copy of your employment letter


  • Fewer requirements.
  • You may get cheaper terms depending on the type of MOU your employer has signed.
  • You can negotiate for a bigger amount (if your credit score allows).
  • The bank listens and can even adjust your repayments at no cost if you request them before default.


  • The bank is generally very strict on vetting nowadays and seems to favor shorter repayment terms.

KCB Bank personal loans

These loans also don’t need a security deposit and are approved for both salaried and self-employed individual.

You must, however, be an account holder with KCB for at least 3 months to qualify for any KCB Bank personal loans.


  • Employed/self-employed individuals are eligible provided you have a regular/steady source of income.
  • You can negotiate the amounts from as low as Kshs. 20,000 all the way to a high of Kshs. 4M
  • Flexible loan repayments- this can be beneficial if you’re in business especially since sometimes income may be unpredictable.


  • KCB loan processing duration is somewhat wanting- they sometimes take too long to approve loans.


You need a letter of Introduction, your employment contract together with your employment card and the latest 3 month’s payslip (if you’re employed).

Business people, on the other hand, need to show proof of income.

Don’t forget that you must hold an account with KCB.

·         ALSO READ: 5 Tips to Help You Pay Off your Loan


Stanbic Bank Loans Without Security

Stanbic bank also has several interesting unsecured loans for individuals.

The bank is quite friendly and you can always request them to customize your repayment plan to fit your businesses or personal income flow.

The maximum loan amount you can get depends on your account’s cashflows so you can secure a bigger loan if you have a ‘fat’ account though for most account holders it’s capped at shs.4M.

The minimum loan amount is sh.50000.


  • Up to 60 months repayment term.
  • You can request a top-up loan after making just six repayments towards your current loan.
  • Approval is usually within 48 hours (provided you complete the documentation during the application process).


  • They rarely give loans to those earning less than shs.40000 net salary per month. Besides, you must have been employed for at least 2 years continuously.

What you need to apply for Stanbic Bank unsecured personal loan

  • Your latest payslip.
  • Copy of your national ID/passport.
  • Your KRA PIN Certificate.
  • A copy of your employment letter.
  • A six months’ bank statement from your banker (if you don’t hold an account at Stanbic).

CBA Bank Unsecured personal loans in Kenya

CBA is the single largest privately owned banking institution in Kenya and has designed excellent personal loan products which don’t need security.

The biggest news is that you can even borrow in leading international currencies including EURO, USD, and GBP (in case your salary is paid in these currencies).


  • Short, quick, and simple application process.
  • You will not be penalized for clearing your loans early.
  • Loan available in other currencies.


  • For salaried Kenyans only. Business people and self-employed individuals are restricted to CBA bank secured loans.

What you need to apply for CBA personal loans in Kenya

  • Last 3 month payslips.
  • Copy of your bank statement (6 months and should be certified).
  • A letter from your employer

Other Unsecured Personal loans in Kenya

Are you aware that there are Kenyans who can access as much as shs.100000 from mobile loan apps such as KCB Mpesa?

Yes, you have heard me right.

You must however been borrowing from the app for some time to be able to build your credit history.

It’s a very convenient way of accessing funding since you don’t have to go through the cumbersome application process like is the case with regular personal loans Kenya.

The major issue with mobile loan apps is that they can be addictive if you lack financial discipline.

Final Word

As you can see, there are tons of unsecured personal loans in Kenya.

What you need is to weigh each carefully and settling for the best choice according to your needs.

It’s clear that some banks set tougher conditions and take longer to disburse loans so you need to factor in this as you compare.

We don’t have a favorite recommendation so it’s upon you to do your homework and see the banker that best meets your expectations.

Good luck!

·         Other articles hand-picked for you: How To Check CRB Status On Phone



Share with a friend

Leave a Comment