One of our readers has asked a very important question. He wants to know the bank that gives highest salary advance loan with low interest rate.

“Hey,my monthly salary is Ksh 180,000.I want to join one of the banks in Kenya that gives salary advance with low interest. The advance must be more than Ksh100k”

Answer

Equity Bank

Loan amount: Up to Ksh 300,000

Interest:12% to 18% per year

KCB Bank

Loan amount: Up to Ksh 100,000

Interest:9% to 16% per annum

Cooperative Bank

Loan amount: Ksh 10,000 to Ksh 500,000

Interest:10% to 18% per annum

NCBA

Loan amount: Up to Ksh 250,000

Interest:10% to 16% per annum

Stanbic Bank

Loan amount: Minimum Ksh 1,000 and maximum Ksh 1 million

Interest:9%-15% per annum

ABSA Bank

Personal Loan: Up to Ksh 6,000,000

Interest:15%

While most banks will give you up to 50%, the banks listed here can give up to 100%. The average interest rate is 15% per annum.

If your salary is Ksh 120,000, you are likely to get a loan of Ksh 80,000 to Ksh 120,000.