Special Offers Loans in Kenya

Some lenders are giving discounts, lower interest, or bonuses right now. If you’re planning to borrow, this might be the time. Don’t miss out.

Online application

Zenka offers customers the chance to get their first loan without any interest or fees, providing an opportunity to try out their service without any extra costs. After paying back the first loan, users can access loans with interest rates ranging from 9% to 39%, depending on the amount and loan term.

Advantages

Quick Loan Processing: Zenka makes it easy to get loans quickly, with applications processed within minutes and funds sent directly to M-Pesa almost immediately.
User-Friendly: The app or USSD allows for a simple, intuitive loan application process, so it’s easy for anyone to use.
Flexible Repayment: You can extend your loan repayment term by 7, 14, or 30 days, helping avoid late fees and making it easier to manage repayments.
No Hidden Fees: The first loan is offered with no interest or extra charges, so you get exactly what you borrow.
Increasing Loan Limits: If you repay your loan on time, Zenka gradually increases your credit limit, allowing you to borrow more in the future.

Disadvantages

High Interest Rates: Once you move past the first loan, the interest rates can be quite high, especially for short-term loans, which may make borrowing more expensive.
Loan Amount Limitations: The maximum loan available is KSh 30,000, which may not be enough for larger expenses or financial needs.
Late Payment Penalties: If you miss a repayment, penalties apply, and your credit limit may be reduced, which could hurt future borrowing.

Zenka offers a fast and easy way to borrow money, but you’ll need to be mindful of high interest rates and ensure you repay on time to avoid penalties.

Online application

Tala offers personal loans with limits up to 50,000 KSh, all available through their mobile app. The interest rates start at 0.3% per day, translating to roughly 109% annually, with terms and rates varying based on the loan amount and repayment period.

Advantages

Fast Loan Processing: Loan applications are processed quickly, and the funds are transferred to your M-Pesa account almost immediately, making it ideal for urgent needs.
Simple to Use: The loan application process is straightforward and can be done easily through the mobile app or USSD.
Flexible Repayment Options: You have the option to extend your repayment period by 7, 14, or 30 days, which is handy for those needing extra time.
No Hidden Fees: Your first loan comes with no interest or additional charges, so you can borrow without worrying about extra costs.
Growing Credit Limit: By repaying loans on time, you can increase your credit limit, allowing you to access larger amounts in the future.

Disadvantages

High Interest Rates: Once you get past your first loan, the interest rates can be quite high, especially for short-term loans, which could make borrowing more expensive.
Loan Amount Limits: The maximum loan you can take out is 50,000 KSh, which may not be enough for larger financial needs like buying a car or making a big investment.
Dependence on Timely Repayment: If you miss a repayment, you could face penalty interest charges and a reduced credit limit, which can make future borrowing harder.

Tala offers a fast and easy way to access loans, but the high interest rates and the importance of timely repayment are factors to consider before borrowing.

Online application

Branch offers personal loans ranging from 500 KSh to 300,000 KSh, with interest rates starting from 2% to 18% per month, depending on the loan amount and term. Repayment terms can range from 62 days to 12 months, and there are no hidden fees for processing or account setup.

Advantages

Quick Processing: Loan applications are processed within minutes, and funds are transferred to your M-Pesa account almost immediately.
User-Friendly: The application process is simple and can be easily done via the Branch mobile app or USSD, making it accessible for everyone.
Flexible Repayment: You can extend your repayment period by 7, 14, or 30 days, helping you avoid late fees and manage your payments better.
No Hidden Charges: Branch’s first loan comes without any hidden charges or interest, which makes it easier for new users to try out the service.
Rising Credit Limit: If you repay your loan on time, your credit limit gradually increases, giving you the ability to borrow larger sums in the future.

Disadvantages

High Interest Rates: Once you move past the first loan, the interest rates can be relatively high, especially if you choose shorter loan terms.
Loan Limit: The maximum loan amount of 300,000 KSh may not be sufficient for larger financial needs or investments.
Timely Repayment is Crucial: Delayed payments can result in penalty interest charges, and your credit limit might be reduced, making it harder to borrow in the future.

Branch provides a fast and convenient way to access loans, but you need to consider the high interest rates and make sure you can repay on time to avoid penalties.

Online application

KCB Bank offers special loan options with enticing perks like up to 10% discounts at various partner stores across Kenya. You can also enjoy interest-free installment plans for 6 or 12 months when shopping at selected retailers, making it easier to manage your payments over time. Partners include well-known brands like Hotpoint, ORCA Deco, and Emirates Holidays.

Advantages

Enjoy discounts of up to 10% when you shop with your KCB card at participating stores.
Flexible interest-free installment plans for 6 or 12 months.
A wide range of partners available across Kenya.
Simple application process through the mobile app or in-person at a branch.
Ideal for those looking to make purchases from electronics to travel services.

Disadvantages

The list of participating partners is somewhat limited, so your options may be restricted.
You need to have an active KCB credit card to take full advantage of these offers.

If you frequently shop at KCB partner stores and appreciate the ease of interest-free payments, this offer is definitely worth considering.

Online application

Equity Bank’s Eazzy Loan allows you to access loans of up to KSh 3 million without needing a guarantor or piles of paperwork. You can apply and receive funds instantly through their mobile app, USSD code *247#, or Equitel, with repayment options of up to 24 months.

Advantages

Get your loan quickly without stepping into a branch.
No need for guarantors or complicated paperwork.
Convenient access through digital channels like the mobile app and USSD.
Flexible repayment terms of up to 24 months.
Works well for both personal and business expenses.

Disadvantages

You must have had an active account with Equity Bank for at least six months to qualify.
The maximum loan amount of KSh 3 million may not be enough for larger investments.
There could be extra fees or higher interest rates, making the total repayment amount a bit higher.

If you’re looking for a fast and straightforward loan with easy repayment options, Equity’s Eazzy Loan could be a solid choice.

Online application

MOGO Kenya offers logbook loans that allow you to borrow between KSh 100,000 and KSh 2.5 million, with repayment terms up to 60 months. The process is quick and simple, with free vehicle valuation, GPS installation, and logbook registration, all while you keep your car to use as usual during the loan period.

Advantages

Get a loan without having to sell your car.
Flexible repayment terms of up to 60 months.
Fast loan approval and processing.
No hidden fees or surprise charges.
Continue using your car while paying off the loan.

Disadvantages

You’ll need to provide proof of income and car ownership.
Failing to meet the loan terms could lead to vehicle repossession.
The maximum loan amount may not be sufficient for larger financial needs.

MOGO Kenya provides a solid option for those in need of quick cash with flexible terms, especially for those who prefer to keep their car while getting a loan.

Online application

Co-operative Bank offers personal loans ranging from KSh 50,000 to KSh 9 million, with repayment terms stretching up to 10 years. The application process is quick, and you can expect a decision within 48 hours, but you’ll need to have your salary transferred to the bank for approval.

Advantages

Flexible repayment terms of up to 120 months.
No collateral needed to secure the loan.
Fast approval, with loan processing taking just 48 hours.
Loans are available in both KSh and USD currencies.
There’s no minimum salary requirement to apply.

Disadvantages

You must transfer your salary to Co-operative Bank to qualify.
The maximum loan amount of KSh 9 million might not be enough for large financial needs.
Interest rates and additional fees are not clearly disclosed, which could be a concern.

Co-operative Bank provides a solid loan option for those looking for fast approval and flexible terms, especially if you don’t want to tie up assets as collateral.

Online application

Stima Sacco offers various loan products, such as Normal Loan, Super Loan, Mwangaza, and Premium Loan, with loan amounts up to four times the member’s deposits and repayment terms as long as 96 months. To apply, you need to be a Sacco member for at least three months and meet the required deposit thresholds.

Advantages

Flexible repayment terms of up to 96 months.
No collateral required for the loans.
Quick loan processing once you meet the membership requirements.
A variety of loan options to suit different needs.
No hidden fees, so what you see is what you get.

Disadvantages

You must be a member for at least 3 months before applying.
The maximum loan amount might not be sufficient for larger projects.
High deposit requirements may be a challenge for some members.

Stima Sacco’s loan offerings are well-suited for those looking for long-term financial solutions with flexible terms, but the membership and deposit requirements can be a barrier for some.

Online application

Fuliza M-PESA lets users access an overdraft facility, allowing them to complete transactions even when their M-PESA balance is insufficient. Once activated through USSD *234# or the MySafaricom app, the service provides a limit based on how active you are on the network and your transaction history.

Advantages

Instant access to funds when your balance is low.
No need for collateral or a guarantor.
Can be used for various transactions, including transfers, bill payments, and purchases.
Flexible repayment terms; repayment happens automatically when you top up your M-PESA balance.
Easy to activate and use via USSD or the mobile app.

Disadvantages

The overdraft limit is determined by your activity and transaction history.
Funds cannot be withdrawn as cash.
There’s no clear information about the maximum limit or interest rates.

Fuliza M-PESA offers a quick and convenient way to manage short-term cash shortages, but it’s important to be mindful of the limits and terms of the service.

Online application

Carbon offers digital loans ranging from KSh 500 to KSh 50,000, with repayment terms of up to 64 weeks. The application is entirely online and requires just a national ID, a mobile wallet number, and a quick selfie verification for approval.

Advantages

Instant loan approval and disbursement to your Carbon account.
No collateral or guarantor required.
Flexible repayment terms of up to 64 weeks.
Clear and transparent terms, with no hidden fees or early repayment penalties.
Opportunity to earn cashback for timely loan repayment.

Disadvantages

The maximum loan amount of KSh 50,000 may not be enough for larger financial needs.
Interest rates could be relatively high, especially for short-term loans.
Requires a smartphone and continuous internet access to apply and manage your loan.

Carbon offers a quick and convenient way to access short-term loans, but the interest rates and loan limits may not be ideal for larger financing needs.

Online application

Absa Bank Kenya offers unsecured personal loans ranging from KSh 50,000 to KSh 6 million, with repayment terms of up to 96 months. You can apply for a loan online by submitting just your ID, recent bank statements, and proof of income.

Advantages

Flexible repayment terms of up to 96 months.
No collateral or guarantors needed.
Quick processing of loan applications.
Ability to apply without stepping into a bank branch.
Clear and transparent terms with no hidden fees or penalties for early repayment.

Disadvantages

Requires recent bank statements and proof of income.
Interest rates can be high for shorter loan periods.
You need a stable income and a good credit history to qualify.

Absa Bank Kenya offers an easy and flexible way to access personal loans, but the interest rates may be a concern for those looking for short-term borrowing.

Online application

Ngao Credit offers logbook loans ranging from KSh 100,000 to KSh 4,000,000, with flexible repayment terms of up to 24 months. The approval process is quick, taking just about 6 hours when all the required documents—like your ID, logbook copy, KRA PIN, bank statements, and proof of income—are submitted.

Advantages

Fast approval and fund disbursement to your account.
No collateral or guarantors required.
Flexible repayment terms, with options extending up to 24 months.
Clear terms with no hidden fees or penalties for early repayment.
Cashback offered for timely repayment of the loan.

Disadvantages

You must own a vehicle to qualify.
Interest rates can be relatively high, especially for short-term loans.
You’ll need to provide bank statements and proof of income.

Ngao Credit offers a quick and convenient way to secure short-term loans, but their interest rates and terms might not be ideal for those needing larger amounts.

Online application

Mwalimu National SACCO offers a variety of loan options to its members, including development loans, emergency loans, school fees loans, and mortgage loans. The entire loan application process is streamlined through their online platform, making it easy for members to access the funds they need.

Advantages

A wide range of loan options to meet different financial needs of members.
Flexible repayment terms designed to suit the borrower’s financial capacity.
Clear and transparent lending terms, with no hidden fees.
Mortgage loans are offered at competitive interest rates.
Easy and convenient online loan application process.

Disadvantages

There are membership and minimum contribution requirements, which may be a barrier for some potential borrowers.
Certain loan types may require additional documents or collateral.
The loan approval process can take some time, depending on the type of loan.

Mwalimu National SACCO provides a solid range of loan products with flexible terms, making them a good choice for members looking for financial support.

Online application

Stanbic Bank Kenya provides unsecured personal loans ranging from KSh 100,000 to KSh 7,000,000, with repayment terms extending up to 96 months. The application process is entirely online, requiring just your ID, the last three bank statements, and a payslip for quick approval.

Advantages

Fast approval and funds disbursement directly to your account.
No collateral or guarantors required.
Flexible repayment terms, with up to 96 months to pay.
Transparent terms, with no hidden fees or penalties for early repayment.
Access to competitive mortgage loan rates.

Disadvantages

You’ll need to submit bank statements and proof of income.
Interest rates could be high for shorter-term loans.
Requires a stable income and good credit history to qualify.

Stanbic Bank Kenya offers flexible and quick financial solutions, but you should carefully consider the interest rates, especially for short-term loans.

Online application

MyCredit Limited offers a variety of loan options, including business loans, civil servant loans, education loans (Kuza Elimu), Islamic financing, and insurance services. The application process is entirely online, making it easy and accessible for clients to apply via mobile devices or their website.

Advantages

A wide range of loan options to meet different financial needs.
Flexible repayment terms that suit the borrower’s financial situation.
Transparent lending terms with no hidden fees.
Competitive mortgage loan rates available.
Convenient online application process that can be done anytime.

Disadvantages

Membership and minimum contribution requirements might be a barrier for some.
Certain loans may require additional documents or collateral.
Loan approval time can vary depending on the type of loan.

MyCredit Limited offers a solid range of loan products with flexible terms, making them a good option for anyone in need of financial support.

Frequently Asked Questions

1. What exactly is a special offer loan?

It’s a loan that comes with temporary perks — things like reduced interest rates, zero processing fees, or extra flexible repayment options. These deals are often tied to a specific time frame or target group.

2. How do I know if I can apply?

Each lender sets their own rules. Some offers are open to new applicants, while others are meant for existing customers or people with a strong repayment record.

3. Where can I find these offers?

Most lenders list their promotions on their websites or apps. You can also check comparison platforms or ask directly when contacting a bank or loan provider.

4. Is there a catch with these deals?

Sometimes. A lower interest rate might only apply for the first few months, or there may be conditions that aren’t obvious upfront. It’s worth reading the full terms before making a decision.

5. Will it show on my credit report?

Yes — a loan is still a loan, even if it’s on offer. If you pay it back responsibly, it can help your credit score; if not, it can hurt it just the same.

6. Should I take a loan just because there’s a discount?

Only if you truly need it. A good deal doesn’t make sense if you weren’t planning to borrow — always think about whether it fits your budget and your situation.

Lender	Loan Amounts (KES)	Loan Terms	Interest Rate (% p.a.)	Typical Special Offer / Promotion
Zenka	500 – 30,000	Up to 61 days	0% for first loan	The most famous offer in Kenya: “Your first loan is completely free if repaid on time.”
Tala	500 – 50,000	21 – 30 days	Varies	Loyalty Program: Interest rates decrease and credit limits grow with consistent, on-time repayments.
Branch	500 – 100,000	Up to 12 months	Varies	Loyalty Program: Offers better terms and higher loan amounts to repeat customers with good history.
KCB Bank	Varies	Varies	Often discounted	Runs frequent seasonal campaigns, e.g., “Back to School” loans with reduced interest rates.
Equity Bank	Varies	Varies	Often discounted	Known for holiday promotions (e.g., Christmas loans) and special financing for farmers during planting season.
MOGO	25,000 – 2,500,000	Up to 60 months	From 2.5% per month	Partnerships with vehicle dealerships for special offers like 0% deposit on boda bodas or cars.
Co-operative Bank	Varies	Varies	Often discounted	Regularly has special offers on asset finance and personal loans, advertised via their channels.
Stima SACCO	Based on deposits	Varies	~14%	Offers “Dividend Advance” loans before dividends are paid out, and other member-only promotions.
Fuliza M-PESA	Overdraft service	Continuous	Daily fee	The “special offer” is the unmatched convenience of an always-on overdraft to complete transactions.
Carbon	500 – 50,000	Up to 64 weeks	Varies	Known for offering cashback on interest payments for loans that are repaid on time.
Absa Bank Kenya	Varies	Varies	Often discounted	Seasonal campaigns on personal loans and mortgages, often with waived processing fees.
Ngao Credit	Up to 5,000,000	Up to 24 months	Competitive	Often runs promotions on logbook loans, such as cashback offers or fast processing promises.
Mwalimu National SACCO	Based on deposits	Varies	~14-15%	Special loan packages and promotions are often announced during their Annual General Meetings (AGM).
Stanbic Bank	Varies	Varies	Often discounted	Regularly partners with vehicle sellers (e.g., Isuzu, Toyota) for special vehicle financing deals.
MyCredit Limited	Up to 3,000,000	Up to 48 months	Competitive	Runs targeted campaigns for specific loan products, like school financing or business capital.