Updated 29 October 2026
Updated October 2026. KCB vs I&M Bank: on the Central Bank of Kenya’s August 2026 bank-by-bank table, I&M Bank lent at an average of 13.62% a year and KCB at 14.78%, against a market average of 14.34%. That makes I&M Bank the cheaper borrower’s bank on average by 1.16 percentage points. Below we compare KCB vs I&M Bank on loan cost, worked repayments, mobile banking, paybill and SWIFT codes, and who each bank suits.
KCB vs I&M Bank: key figures side by side
| Metric | KCB | I&M Bank | Source |
|---|---|---|---|
| Average lending rate (Aug 2026) | 14.78% | 13.62% | CBK |
| Gap to market average (14.34%) | +0.44 pts | -0.72 pts | CBK |
| Rank by cost (of 36) | not stated | 8 | CBK table |
| Indicative rate range | 13.21% to 17.28% | quoted per customer | Published premiums over CBR |
| Mobile loans | KCB M-Pesa | via app/branch | Bank sites |
| M-Pesa paybill | 522522 | 542542 | Bank / Safaricom |
| SWIFT code | KCBLKENX | IMBLKENA | Bank sites |
| Deposit insurance | KDIC up to KSh 500,000 | KDIC up to KSh 500,000 | KDIC |
KCB Bank Kenya in brief
KCB Bank is Kenya’s largest bank by assets and has the widest branch and agent footprint of the big lenders. It offers salary-backed personal loans, mobile credit through KCB M-Pesa, vehicle asset finance, mortgages and business loans. Its paybill 522522 is the most widely used bank paybill in the country. KCB Group is also listed on the NSE, so its customers can follow its results and dividends publicly. Estimate a loan on our KCB loan calculator.
I&M Bank Kenya in brief
I&M Bank is a mid-sized lender focused on business owners, families and professionals. CBK’s August 2026 table put it 8th cheapest of 36 banks, 0.72 percentage points below the sector average. It offers personal, asset finance, mortgage and business loans. Its M-Pesa paybill is 542542. Estimate a loan on our I&M Bank loan calculator.
What the rate gap costs you: worked examples
Using each bank’s CBK average as the rate, on a reducing balance (illustration only; your quote depends on your credit profile, and fees come on top):
| Loan | KCB monthly | I&M Bank monthly | Total interest difference |
|---|---|---|---|
| KSh 200,000 over 24 months | KSh 9,676 | KSh 9,567 | KSh 2,633 more at KCB |
| KSh 500,000 over 36 months | KSh 17,279 | KSh 16,997 | KSh 10,158 more at KCB |
| KSh 1,000,000 over 60 months | KSh 23,675 | KSh 23,072 | KSh 36,173 more at KCB |
On a KSh 1 million, five-year loan, the average-rate gap adds up to about KSh 36,173 in extra interest. That is why it pays to get a written quotation from each bank and compare the total repayable, not just the monthly figure. Remember averages hide a wide spread: a salaried customer with a clean credit record may get well below their bank’s average, and a riskier borrower well above it.
KCB vs I&M Bank: which should you choose?
- Cheapest average loan: I&M Bank (13.62%). Start your quotes there.
- Quick mobile credit: KCB offers KCB M-Pesa. Mobile loans are usually priced differently from branch loans, so check the fee before borrowing.
- Depositing from M-Pesa: KCB paybill 522522, I&M Bank paybill 542542, with your account number as the account. See all bank paybill numbers.
- Safety: all are CBK-licensed and KDIC members, so deposits are insured up to KSh 500,000 per depositor per bank.
- Everyday fees: compare the latest tariff guide from each bank for ledger fees, ATM withdrawals and transfers; these change more often than loan pricing.
How to get the best loan quote
- Check your credit report with a licensed credit reference bureau and clear any arrears.
- Ask each bank for a written offer showing the rate, all fees and the total cost of credit.
- Enter each offer into the bank’s calculator and compare totals.
- Ask whether the loan is reducing balance or flat rate; flat rates can nearly double the true cost.
- Use the Total Cost of Credit site (costofcredit.co.ke) to cross-check published pricing.
Related: money market fund vs savings account and PesaLink vs RTGS vs EFT. Official sources: Central Bank of Kenya, KDIC, Total Cost of Credit.
Frequently asked questions
Which is cheaper for loans, KCB or I&M Bank?
On CBK’s August 2026 data, I&M Bank had the lower average lending rate at 13.62%, against 14.78% at KCB. Your own rate depends on your credit profile.
What are the M-Pesa paybill numbers for KCB and I&M Bank?
KCB: 522522; I&M Bank: 542542. Use your bank account number as the account number.
Are deposits at KCB and I&M Bank insured?
Yes. As KDIC member banks, deposits are covered up to KSh 500,000 per depositor per bank if the bank is liquidated.
How are bank loan rates set in Kenya?
Under CBK’s Risk-Based Credit Pricing Model, variable shilling loans are priced as a reference rate (the Central Bank Rate, 8.75% from 7 October 2026, or KESONIA) plus a customer premium called K, with fees on top.
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