Top 10 banks in Kenya offering best Mortgage rates

Top 10 banks in Kenya offering best Mortgage rates

To begin with, a mortgage is a legal contract by which a bank or other lender lends money at interest in swapping for taking the title of the debtor’s property, with the prior agreed condition that the transfer of title becomes void upon the repayment of the debt.

A mortgage loan, on the other hand, is utilised by purchasers of real property to raise funds to buy real estate.

Mortgages come in advantageous for people who want to be, but they don’t have sufficient funds as at that time.

Everyone is a potential homeowner and below are some of the top banks that offer the most flexible loans for mortgages.

11 top banks that offer flexible mortgage loans in Kenya

1. Standard Chartered Bank Kenya

Annual Interest Rate: 12.2%

2. Citibank Kenya

Annual Interest Rate: 12.5%

3. Commercial Bank of Africa

Annual Interest Rate: 12.9

4. Kenya Commercial Bank

Annual Interest Rate: 13.3%

5. NIC Bank Kenya

Annual Interest Rate: 13.4%

6. Chase Bank

Annual Interest Rate: 13.9%

7. CFC Stanbic Bank Kenya

Annual Interest Rate: 14.1%

8. Barclays Bank Kenya

Annual Interest Rate: 14.4%

9. Diamond Trust Bank

Annual Interest Rate: 14.6%

10. Co-operative Bank

Annual Interest Rate: 14.9%

11. Consolidated Bank

Annual Interest Rate: 15.1%

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