Updated 28 October 2026
The two biggest boda boda loans providers in Kenya, Watu and MOGO, both let you ride away with a motorbike for a down payment and then pay daily, weekly or monthly. MOGO asks for a deposit from 20% of the bike’s value (starting at KSh19,000 for second-hand bikes and KSh30,000 for new ones), with terms of 52 to 78 weeks. Watu sets a minimum down payment per model and offers plans of up to 24 months. Both need your ID, KRA PIN, an established M-Pesa line and a guarantor. Here is how the two compare and how to work out the real cost before you sign.
Updated October 2026, from the official Watu Kenya mobility page and FAQ (watu.com) and MOGO’s boda boda page (mogo.co.ke).
Boda Boda Loans: Watu vs MOGO at a Glance
| Feature | Watu | MOGO |
|---|---|---|
| Down payment | Minimum set per model (not published as one figure) | From 20%; from KSh19,000 second-hand, KSh30,000 new |
| Repayment | Daily, weekly or monthly, up to 24 months | 52 to 78 weeks |
| Age | 18-19-year-olds need a guardian | 20 to 65 years |
| Guarantor | One, aged 20+, with original ID | One |
| Referees | Two, aged 18+ | Not listed |
| M-Pesa | Line registered and active for 6 months | 6 months’ M-Pesa statement |
| Brands | Bajaj, Honda, TVS, Piaggio, Haojin and electric brands incl. Spiro, Ampersand, Roam | Bajaj Boxer, TVS, Honda, Captain, Haojin, Haojue |
| Speed | Boda in about 2 hours | Pre-approval in 2 hours |
Watu Boda Boda Loan Requirements
- Original national ID for you and your guarantor.
- KRA PIN certificate.
- One guarantor aged 20 or above and two referees aged over 18.
- A Safaricom line registered for M-Pesa and in use for the last six months.
- The minimum down payment for the bike you choose.
You apply at a Watu branch or one of its authorised dealers, which Watu says number over 400. Payments are made through the Watu app. Watu also finances tuk-tuks and electric bikes. NTSA has been issuing e-logbooks instead of paper logbooks since 10 June 2026, which affects how ownership is transferred when you finish paying.
MOGO Boda Boda Loan Requirements
- National ID and KRA PIN.
- Six months’ M-Pesa statement.
- Age 20 to 65 and one guarantor.
- Down payment from 20% of the bike’s value.
MOGO lets you pick a term of 52 to 78 weeks and sign at a MOGO branch or partner dealer; see MOGO branches and contacts.
How to Work Out the Real Cost of a Boda Loan
- Write down the bike’s cash price at the same dealer.
- Add the deposit plus every instalment over the full term (daily amount x number of days, or weekly x weeks).
- Subtract the cash price. The difference is what the loan costs you.
- Ask whether insurance, tracking and logbook transfer are included or extra.
Our Lipa Mdogo Mdogo true-cost guide walks through the same sum for phones. Then check the bike can earn it back with the boda boda profit calculator.
Petrol or Electric?
Watu finances electric bodas from brands including Spiro, Ampersand and Roam, and says electric bikes cost less to run. Before choosing one, ask the dealer about battery swap or charging points on your routes, the battery’s warranty and whether the battery is owned or leased, because that changes the daily cost.
Before You Sign
- Check the lender is licensed: see how to check if M-KOPA, Watu or any instalment lender is CBK-licensed.
- Read the repossession terms: how many missed days before the bike is taken back, and what happens to what you’ve paid.
- Budget for insurance and licences: a riding licence, insurance and any NTSA or county requirements are on top of the instalments; for passenger-carrying vehicles see PSV licence requirements.
- Keep every M-Pesa receipt until the logbook is in your name.
Are Boda Boda Loans Worth It?
Boda boda loans make sense when the bike earns more each day than the instalment, fuel, maintenance and insurance combined, with something left for you. Riders who lose a few days to illness or repairs can fall behind fast, so keep a small buffer before you take one. Compare the two boda boda loans on total cost, not just the deposit, and ask what happens if the bike is stolen or written off.
Official Sources
- Watu Kenya: boda boda and tuk-tuk financing
- Watu FAQ: requirements for boda boda financing
- MOGO: boda boda loans
Frequently Asked Questions
How much deposit do I need for a boda boda loan?
MOGO starts at 20%, from KSh19,000 for a second-hand bike and KSh30,000 for a new one. Watu sets a minimum down payment for each model.
Can I get a boda boda loan without a guarantor?
Not at Watu or MOGO. Both require one guarantor.
How long does it take to get a boda on loan?
Watu advertises a boda in about two hours, and MOGO pre-approval in two hours, once your documents are complete.
Do Watu and MOGO finance electric bodas?
Watu finances electric bikes from brands including Spiro, Ampersand and Roam. MOGO’s boda page lists petrol models.
Checked on 28 October 2026 on watu.com (Kenya mobility page and FAQ) and mogo.co.ke/boda-boda.
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