Afronomics comparison · Kenya
What a mobile loan really costs
Mobile loans are quick and need no paperwork. Their price is quoted per month or per day, which makes it hard to compare with a bank. Here is each provider’s own published charge, the shillings it costs to borrow KES 1,000 for a month, and that charge as a yearly rate.
Borrow KES 1,000 for 30 days
KES 90
M-Shwari loan, the lowest published charge here
About KES 12 at the bank lending average of 14.40% a year
Compared
The same KES 1,000, for a month
Charges as each provider publishes them. A yearly rate is the month’s charge × 365 ÷ 30, without compounding, so it can be set beside a bank’s rate.
| Loan | What the provider publishes | KES 1,000 for 30 days costs | As a yearly rate |
|---|---|---|---|
| M-Shwari loanNCBA Bank with Safaricom · read 5 Oct 2026 | “... charged at 9% Being Loan Fees of 7.5% and 1.5% Excise Duty. ... Enjoy a one month repayment period.” | KES 90 | 110% |
| Tala loanTala Kenya · read 5 Oct 2026 | “Low interest starting at 0.3% per day.” | from KES 90 | from 110% |
| Fuliza M-PESA overdraftSafaricom with NCBA and KCB · read 5 Oct 2026 | “A customer will be charged a one off 1% access fee and a daily maintenance fee ... A customer will also be charged 20% Excise Duty on the daily maintenance fee. ... 501-1000 KSh 5 KSh 1 KSh 6” | KES 190 | 231% |
| Benchmark: bank loan, industry averageCentral Bank of Kenya, 2026-09 | Weighted average lending rate across commercial banks | KES 12 | 14.40% |
Fuliza is usually repaid within days: on a KES 1,000 balance it costs KES 10 once, then KES 6 for each day it stays unpaid, so a week costs KES 52. A provider that says “starting at” or “from” charges some borrowers more; the figure shown is the lowest it publishes. Repaying early, late fees and rollovers change what you pay; read the provider’s own terms. A bank loan needs time, a credit check and often security; a mobile loan is quicker but costs more. This is information, not advice.
What does your mobile loan cost in a year?
Pick the loan you use to see its cost beside the cheapest published charge we track for the same amount and days.
Before you borrow
Three questions
- How many shillings will I repay in total, and on what date?
- What happens if I am a day late: is there a fee, and does the loan roll over?
- Could a SACCO, chama or bank lend the same amount for less, if I can wait a few days?
Offered a loan with a different price? Check it against the bank average.
Cite or reuse this data
Free to quote, chart and republish with the credit “Source: Afronomics, compiled from the providers’ published charges and the Central Bank of Kenya” and a link to this page.
Afronomics (2026). What a mobile loan really costs in Kenya, compiled from the providers’ published charges and the Central Bank of Kenya. Retrieved 4 November 2026, from https://www.afronomicsfeed.com/rates/kenya/mobile-loans
Borrowing through an app? Check it is licensed by the Central Bank of Kenya before you share your contacts.
Quick answers
Questions people ask
- How much does Fuliza cost?
- Fuliza charges a one-off 1% access fee plus a daily fee by balance. At the charges Safaricom publishes, that is KES 190 to borrow KES 1,000 for 30 days, about 231% a year.
- How much does an M-Shwari loan cost?
- M-Shwari charges 9% for a one-month loan (7.5% fee plus 1.5% excise duty): KES 90 to borrow KES 1,000 for 30 days, about 110% a year.
- How much does a Tala loan cost?
- Tala publishes interest starting at 0.3% a day: at least KES 90 to borrow KES 1,000 for 30 days, about 110% a year or more. The actual charge depends on the loan offered.
- Is a mobile loan cheaper than a bank loan?
- No. The lowest published charge here is M-Shwari loan: KES 90 to borrow KES 1,000 for 30 days, about 110% a year. The average bank lending rate is 14.40% a year (Central Bank of Kenya), about KES 12 on KES 1,000 for a month.
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