How Relationship Banking Can Improve Your Borrowing Options
Relationship banking in Kenya is expanding as banks move away from rigid, transactional lending and focus more on long-term engagement. The approach is quickly gaining traction among individuals, small businesses, and rural entrepreneurs who often struggle to meet traditional loan requirements. It strengthens trust through continuous interaction, personal support, and a deeper understanding of how […]
How to Plan Repayments When You Have Multiple Mobile Loans
Managing mobile loans from apps in Kenya has become part of everyday financial life, especially with easy access to instant credit through M-Pesa. These loans offer quick cash but often come with monthly interest rates of 15–30%. Handling several at once without a clear plan can lead to late payments, aggressive follow-ups, CRB listings, and […]
How to Negotiate Better Loan Terms with a Weak Credit Profile
A weak credit profile in Kenya, often defined as a CRB score below 400, limits access to affordable credit and pushes lenders to classify borrowers as high-risk. This usually leads to higher interest rates, restricted loan limits, or a shift toward secured facilities only. Yet many Kenyans still need loans for business, school fees, medical […]
How to Manage Debt Collection Calls in Kenya
Debt collection calls can be stressful, especially when you’re unsure of what to say or how to respond. In Kenya, these calls are regulated by strong consumer protection laws that prevent harassment and ensure debt recovery is handled ethically. Knowing your rights and following the right steps makes it easier to manage debt collection calls, […]
How to Use Mobile Loan Apps Without Hurting Your Credit Score
Mobile loan apps have become an essential part of everyday financial life in Kenya. Platforms such as M-Shwari, Tala, Branch, Fuliza, and Zenka have revolutionized access to quick cash, disbursing billions of shillings each year through M-Pesa. These loan apps use alternative data, such as airtime usage, M-Pesa transaction patterns, and savings history, to evaluate […]
How to Dispute Wrong Information on Your CRB Report
Credit Reference Bureaus (CRBs) in Kenya (TransUnion, Metropol, and Creditinfo) collect and maintain detailed records of your credit history, including loan applications, repayment patterns, and any defaults. This information forms your CRB report in Kenya, which lenders, employers, and financial institutions use to determine your reliability when it comes to borrowing and repayment. Errors such […]
Recovering Financially After Defaulting on a Loan
Defaulting on a loan in Kenya can feel overwhelming, but recovery is entirely possible with the right approach. When a borrower fails to make repayments for more than 90 days, lenders classify the account as non-performing and report it to Credit Reference Bureaus (CRBs) such as Metropol, TransUnion, or Creditinfo. Once listed, your access to […]
What Happens to a Bank Loan When the Borrower Dies
The death of a borrower does not erase a bank loan, it only shifts the responsibility for repayment to the deceased’s estate. Under Kenyan law, all outstanding debts must be settled before the estate can be distributed to heirs or beneficiaries. This rule ensures that banks and other creditors recover their dues and that the […]
Are Unsecured Personal Loans More Affordable than Salary Advance Loans?
The number of Kenyans taking out unsecured personal loans and salary advance loans has grown from 7.5 million in 2019 to 11.4 million in 2023, highlighting the growing reliance on short- and medium-term credit. Salary advance loans have led this surge, with one bank reporting that its customers borrowed KSh 51.7 billion in the nine […]
Common Credit Mistakes to Avoid in Kenya
Access to credit through mobile apps like M-Shwari, Tala, and Branch, alongside traditional banks, has transformed financial inclusion in Kenya. Despite this, nearly a million Kenyans were listed as defaulters by Credit Reference Bureaus (CRBs) in 2024. Poor credit decisions can trap individuals in debt cycles, inflate interest rates, and hinder future borrowing. Avoiding common […]