KCB Loan Interest Rates

This article will give you an overview on the interest rates charged by KCB bank for unsecured personal loans. KCB is a leading bank in Kenya and offers some of the best competitive interest rates that you can find compared to so many other banks in the country.

It is important to note that the central bank of Kenya regulates the lending rates and therefore bank are only able to work and lend within a specific margin.

Currently the KCB interest rates on personal loan is 17.84% pa. This is an increase from 14.7% from the previous year(2023)

Apart from the interest rates it is important to note that there are other charges that you will also incur when applying for a loan with KCB bank.

Here is a breakdown of additional fee that you will be charged. The list is subject to change depending on the time you are reading this

Total Cost Breakdown (Loan Fees):

‍‍Interest Minimum: 17.84% pa

Interest Maximum: 17.84% pa

Processing fee: 2.5%

Insurance Fee: 0.54%

Other Fees: 20% Excise Duty

Processing Fees and Excise duty are only applied to year one. For loans longer than one year, your annual cost from year two onwards will be 17.84% pa.

Requirements

Currently you can get an easy loan of up to Kes 8 Million with no security, and a repayment period of up to 96 months. Simply provide proof of a steady income, be an active KCB account holder for a minimum of 3 months, and you’re all set for a quick loan.