11 Best Providers of Boda Boda Loans in Kenya in 2024

When Boda Boda loan lenders started cropping up in Kenya, many youths found a way to own motorcycles. Many microfinance institutions offer affordable Boda Boda loans. If you can make a small deposit, these lenders can give you a new motorcycle in two hours. 

This guide reveals the best providers of Boda Boda loans in Kenya. Explore this list thoroughly to know who your lender should be. 

Who are the Best Providers of Boda Boda Loans in Kenya?

1. Watu Africa (Watu Credit Limited)

The top Boda Boda credit provider in Kenya is Watu Africa, commonly known as Watu Credit. Most people love this company because it also provides Tuk-Tuk loans to passionate entrepreneurs. 

Loan Features

  • Instant loan application and processing – only two hours
  • A reliable repayment period of one to two years. 

Loan Application Requirements

  • Watu Credit requires your ID and your loan guarantor’s ID.
  • One loan Guarantor: aged 20 to 65 years old.
  • A minimum deposit of Ksh. 20,000. 
  • Two referees who are over eighteen years old. 
  • A registered M-PESA SIM that has been active for the past six months.  

Watu Credit Ltd is easy to contact via its two phone numbers: 0709739000 and 0790000999.

Find Out: Youth Funds Mobile Loans In Kenya 

2. Mogo Kenya

Another asset financing company offering Boda Boda loans in Kenya is Mogo Kenya. A branch of Eleving Group, a global FinTech company, Mogo has the most reliable motorcycle loans. 

Loan Features

  • Have a down payment of Ksh. 25,000.
  • Loan application and approval in 2 hours.
  • Own a motorcycle within 52 to 112 weeks. 
  • Repay Ksh.364 daily. 

Application requirements 

  • A Kenyan National ID.
  • KRA PIN certificate.
  • Acceptable age: 23 to 65 years.
  • Bring one guarantor.
  • M-PESA statements for the past six months. 

Visit Mogo lenders at Prestige Plaza in Ngong Road, Nairobi. You can also WhatsApp or ring them on 0768469112.

Also Read: 11 Types Of Loans In Kenya And How To Qualify

3. KCB Bank 

The KCB bank appears on our list of the best providers of Boda Boda loans in Kenya because its credit facility comes with comprehensive insurance coverage. You can walk into the KCB’s Kencom headquarters branch in Nairobi. 

Loan Features

  • A comprehensive insurance cover of Ksh. 9,600 per year.
  • Pay your KCB Boda Boda loan in twelve months.
  • Get a discounted Boda Boda from a selection of quality dealer shops.
  • Generate a down payment of 30%.
  • An annual rate of 13% and a negotiable rate of 3%. 

 Loan Application Requirements

  • A proforma invoice from Boda Boda dealers.
  • A genuine driving license.
  • Three months’ business income statements.
  • Individuals should have banked with KCB for six months or with a group for three months.
  • The logbook as collateral.

4. Pioneer Credit Ltd

Pioneer Credit Limited is a microfinance organization based in Nairobi. It offers a loan product called My Boda Boda Loan. Once you qualify for this loan, you can pay it daily, weekly, or monthly. 

Loan Features

  • Provide a down payment of 20%. Pioneer will finance the remaining 80%. 
  • Repay your Boda Boda loan within twelve to fifteen months. 

Loan Application Requirements

  • Your national ID.
  • A valid driving license.
  • Your KRA PIN certificate.
  • 3 months M-PESA statements.
  • 3 loan guarantors and their national ID copies.
  • A 20% down payment. 

Reach Pioneer Credit Limited on these numbers: 0701 777 000, 0721 605 139, or 0751 259 359. 

5. Bimas Kenya Limited

Bimas Kenya Limited is a small financial organization in Embu town. Bimas has many branches across the country too, and it provides car, Boda Boda, and Tuk-Tuk loans. 

Loan Features

  • No need for guarantors. You secure your bike loan.
  • Free insurance coverage and tracking until you repay the loan.
  • Same-day loan application, approval, and bike delivery.
  • A flexible repayment term.

Loan Application Requirements

  • A down payment or commitment fee of 14,000.
  • Ability to pay Ksh.380 daily or a week in advance.
  • Get up to Ksh. 200,000 instantly.
  • A repayment term of 18 months.

To contact Bimas Kenya Ltd, call this number: 0701 111 700. 

6. Progressive Credit

Another of the 11 best providers of Boda Boda loans in Kenya is Progressive Credit. Motorbike riders can pay their loan in installments daily or weekly. 

Loan Features

  • Get a mobile loan via the Nawiri App.
  • Receive a life insurance cover.
  • A flexible loan repayment period of two years. 

Loan Application Requirements

  • National ID Card.
  • KRA PIN certificate copy.
  • One loan guarantor.

Progressive Credit’s main offices are in Flamingo Towers, second and seventh floors, Mara Road, Nairobi. Visit them in person or call these numbers: 0702 698 577 or 0789 796 477. 

7. Capital Sacco Ltd

A Meru-based microfinance institution, Capital Sacco is one of the top Boda Boda loan providers in Kenya. It has branches in some Mount Kenya region towns and Nairobi. 

Loan Features

Visit Capital Sacco’s offices to know the key features of its Boda Boda Loan

Loan Application Requirements

  • Bring copies of your national ID card or passport.
  • A loan officer will capture your passport photo.

Get in touch with Capital Sacco Ltd on these phone numbers: 0708 843 287 or 0708 843 288. Alternatively, send an email to info@capitalsacco.co.ke. 

8. Ndege Chai Sacco

Ndege Chai is a licensed Cooperative Sacco Society institution that has been run since 1978. Based in the Ndege Chai Building in Kericho town, Ndege Chai Sacco boasts seven other branches. It provides many loans, including a Boda Boda loan. 

Loan Features

  • An annual interest rate of 14 %( on a reducing balance).
  • Four loan guarantors.
  • A repayment period of 18 months.
  • The logbook will act as the loan security.
  • Contribute a down payment of Ksh.15,000.
  • Type of loan: asset finance. 

Loan Application Requirements

  • Bring a copy of your National ID.
  • Provide national ID copies of four guarantors.

You can contact Ndege Sacco via phone call at +254 052-2030-121, 052-8031-759, or 052-2030-592. 

9. Mwananchi Credit Ltd

 A top provider of Boda Boda loans in Kenya is Mwananchi Credit Ltd. It has existed since 2010. Mwananchi Credit Ltd has slightly strict loan features and conditions. 

 Loan Features

  • An annual interest rate of 3.5%.
  • Pay a processing fee of 4%.
  • Meet a loan application fee of Ksh. 500. 
  • Pay a CRB fee of Ksh.300.
  • The repayment term is 18 months.
  • A vehicle tracking fee of Ksh. 10,000.
  • A comprehensive insurance from Shimin Insurance Agency of Ksh.7,600.
  • Repay loans by M-PESA daily or weekly. 

 Loan Application Requirements

  • National ID copy.
  • A color passport photo.
  • Three loan guarantors (one must be your relative) plus their ID copies.
  • A down payment of Ksh.15,000.

 10. JoyInc Solutions Limited

Another of the best providers of Boda Boda loans in Kenya is JoyInc Solutions Limited. Its head offices are in Dune Plaza, Kangundo Road. 

Loan Features

  • Instant loan processing.
  • A repayment term of 24 months.
  • Loan insurance is available.
  • You get a protective gear.
  • No down payment is required. 

Loan Application Requirements

  • National ID copy.
  • A valid Kenya driving license.
  • Two passport photos.
  • A Good Conduct certificate.
  • An ID copy and two passport photos of your next of kin.
  • Two loan guarantors and their ID and KRA Pin certificates
  • A non-refundable application fee of Ksh.500.

To get in touch with JoyInc Solutions Limited, call this number: 0700 060 441. 

11. Bike Lending Services

If you want an affordable Boda Boda loan, talk to Bike Lending Services. The company is in Promiso Plaza, City Stadium, Jogoo Road, Nairobi.

If you can’t visit them in person, call their mobile number on 0770 772 077. Their landline phone number is 020 440 3090.

Alternatively, you can email BLS at info@bl.co.ke. That way, you will understand its Boda Boda loan features and application requirements.