All tools are free — no sign-up, no paywall. Know exactly what a loan costs before you sign. New: compare two loans side by side and see which one costs less over the full term. Check your affordability before applying — lenders use the 40% debt-to-income rule to approve or reject you. Understanding flat rate vs reducing balance interest can save you thousands. Read our guide in the Learn section. CRB listings can block your loan applications for up to 5 years. Learn how the CRB works and how to protect your credit record. All tools are free — no sign-up, no paywall. Know exactly what a loan costs before you sign. New: compare two loans side by side and see which one costs less over the full term. Check your affordability before applying — lenders use the 40% debt-to-income rule to approve or reject you. Understanding flat rate vs reducing balance interest can save you thousands. Read our guide in the Learn section. CRB listings can block your loan applications for up to 5 years. Learn how the CRB works and how to protect your credit record.

1 Terms

Financial Terms Glossary

Every loan term explained clearly, with real examples.

All A C D F G P R S T

S 1 term

SACCO

Savings and Credit Cooperative Organisation. A member-owned financial institution where members pool savings and access loans at relatively low interest rates.

SACCOs in Kenya typically offer reducing balance loans at 12–14% per year — much cheaper than banks (14–18%) and far cheaper than mobile lenders (90–180% per year).

Example: You join a teachers' SACCO, save KES 5,000 per month for a year, and qualify for a loan of up to three times your savings — KES 180,000 — at 12% per year reducing balance.