On average, the annual interest rate for the Kenyan top 10 most expensive bank loans is within a range of 13.8% – 14.5% for the various categories of loans offered. This is approximately 7.0% points higher than South Africa’s average annual rate which stands at 7.5% and 11.2% higher than USA’s 3.3%. However, Kenya’s average … Read more
Safaricom, Kenya’s leading telecommunications provider, has introduced Faraja Loan, a new interest-free loan product designed to offer financial relief to M-Pesa users. This initiative aims to provide quick, accessible, and affordable credit without the burden of high-interest rates. In this guide, we’ll explore how the Faraja Loan works, eligibility requirements, application steps, repayment methods, and its benefits compared … Read more
Obtaining a loan without Security can be challenging in Kenya. Many lenders require collateral to secure their loans, which makes it difficult for borrowers who do not have any assets to pledge. However, there are still several options available for obtaining a loan without security in Kenya. In this article, we will explore some of … Read more