Borrowers focus on monthly payments instead of the total cost, leading to expensive loans.
Processing fees, insurance, excise duty, and late fees increase the real cost.
Taking more than needed increases repayment pressure and reduces approval chances.
4-point checklist.
Always check interest + fees + insurance + excise duty.
Some lenders deduct fees before sending money.
Know your monthly commitment before applying.
Only borrow from regulated lenders.
3-point list.
Avoid late payments and clear outstanding balances.
Lenders approve faster when income is consistent.
Wrong information causes automatic rejection.
Developer can reuse your existing comparison cards.
Total cost, fees, monthly repayment.
Total cost, fees, monthly repayment.
Total cost, fees, monthly repayment.
Short, clean answers.
Approval times vary by lender and the accuracy of the information you provide.
Some lenders deduct processing fees, insurance, and excise duty before sending the money.
Only borrow from lenders that are licensed and regulated by the CBK.
APR includes interest + fees + insurance + excise duty. It's the real cost of the loan.
If a lender deducts fees before sending money, your disbursement becomes lower than expected.
This creates a debt spiral and damages your CRB.
Shorter duration = lower total cost. Longer duration = cheaper monthly payments but expensive overall.
Different lenders have different fees, insurance, and disbursement rules.
Some lenders charge KSh 200–500 per late day. This is where people lose money.
Some lenders add insurance automatically. This increases your total cost.
Multiple applications lower your approval chances and can affect CRB.
Never apply blindly — calculate repayment first.
Overborrowing increases pressure and reduces approval chances.
This protects you from fraud, hidden fees, and illegal interest rates.
Frequent overdrafts, gambling transactions, or irregular income reduce approval chances.
Some lenders reduce interest if you pay early. Always ask.
Rollovers = paying a fee to extend your loan. This becomes extremely expensive.
Especially: