Co-operative Bank of Kenya has been ranked as large lender offering the cheapest loans in the market.
The ranking is based on tabulations of banks’ charges on the website developed by the Kenya Bankers Association (KBA) and the Central Bank of Kenya (CBK) to boost transparency and competition in the lending market.
In the rankings, Absa Bank offers the most expensive loans.
A borrower taking Sh1 million personal secured loan for one year from Absa will incur a total credit cost of Sh143,007. If the same person takes Sh1 million loan from Co-op Bank, he will incur Sh101, 849.
