What is the cheapest mobile loan in Kenya?

Mkopo True Cost compares Fuliza, M-Shwari, KCB M-Pesa, Hustler Fund, loan apps, SACCO and bank credit for the same amount and days, ranked by the real cost — often the Hustler Fund is cheapest for small, short borrowing.

How much does Fuliza really cost?

Fuliza charges a one-off access fee plus a daily maintenance fee by band; over a couple of weeks that small daily fee can work out to an effective rate well over 100% a year, which the tool shows as an annualised APR.

What is the true interest on M-Shwari or KCB M-Pesa?

They charge a one-off facility fee per 30-day cycle; Mkopo True Cost converts that fee into an effective annual rate so you can compare it fairly with other options.

Mkopo True Cost — what does quick credit really cost?

Amount you need (KES)

Days you’ll hold it

Product terms — all editable

Defaults are typical published rates — confirm current terms; lenders change them often. Edit any field to match what you are actually quoted.

Fuliza — M-Pesa overdraft; daily maintenance fee charged every day including day 1

One-off access fee (%)

Band upper limit (KES) Maintenance (KES/day)

M-Shwari — one-off facility fee per 30-day cycle (days > 30 add another cycle)

Facility fee (% per 30 days)

KCB M-Pesa — fee per 30-day cycle, negotiation fee included

Fee (% per 30 days)

Hustler Fund — government product, interest pro-rated daily

Interest (% per year)

Typical app — Tala/Branch-style digital loan, fee per 30-day cycle

Fee (% per 30 days)

SACCO loan — % per month on reducing balance; approximated flat for short holds

Interest (% per month)

Bank personal loan — usually not available for micro amounts; shown for contrast

Interest (% APR)

One-off processing (%)

How this works

Every product is priced for the same amount held for the same number of days, using the editable terms above:

Fuliza = one-off access fee + the daily maintenance fee for your amount’s band × days (charged every day, including day 1). M-Shwari, KCB M-Pesa and app loans charge their fee once per 30-day cycle — holding past 30 days adds another cycle. Hustler Fund and the bank loan accrue a yearly rate pro-rated daily (the bank adds a one-off processing fee). SACCO is a monthly rate pro-rated for the days held.

Effective annual rate = (fees ÷ amount) × (365 ÷ days) × 100. This is simple annualisation: we scale what the days actually cost you up to a full year, without compounding. It slightly understates the true compound cost, but it is the honest like-for-like way to compare a “small” 14-day fee with an annual interest rate.

Products are ranked by total fees for your amount and days. Anything working out above 100% a year is flagged.

Lenders change terms, waive fees in promos, and price by customer. Fuliza also expects repayment from your next M-Pesa inflows, and CRB listing risks differ by product — cost is not the only thing to compare.

Indicative only. Defaults are typical published rates and products change their terms — always confirm the current fee before borrowing, and edit the fields above to match what you are actually quoted. This is a comparison aid, not financial advice.

All calculations happen in your browser. Nothing is uploaded.