Updated 29 October 2026
Updated October 2026. NCBA vs Co-op Bank: on the Central Bank of Kenya’s August 2026 bank-by-bank table, NCBA lent at an average of 14.0% a year and Co-op Bank at 15.01%, against a market average of 14.34%. That makes NCBA the cheaper borrower’s bank on average by 1.01 percentage points. Below we compare NCBA vs Co-op Bank on loan cost, worked repayments, mobile banking, paybill and SWIFT codes, and who each bank suits.
NCBA vs Co-op Bank: key figures side by side
| Metric | NCBA | Co-op Bank | Source |
|---|---|---|---|
| Average lending rate (Aug 2026) | 14.0% | 15.01% | CBK |
| Gap to market average (14.34%) | -0.34 pts | +0.67 pts | CBK |
| Rank by cost (of 36) | not stated | not stated | CBK table |
| Indicative rate range | 14.0% to 22.5% | quoted per customer | Published premiums over CBR |
| Mobile loans | M-Shwari and Fuliza (with Safaricom) | MCo-op Cash | Bank sites |
| M-Pesa paybill | 880100 | 400200 | Bank / Safaricom |
| SWIFT code | ask the bank | KCOOKENA | Bank sites |
| Deposit insurance | KDIC up to KSh 500,000 | KDIC up to KSh 500,000 | KDIC |
NCBA Bank Kenya in brief
NCBA, formed from the merger of NIC and CBA, is a major lender known for asset finance, especially vehicles. It is also the bank behind Safaricom’s M-Shwari and Fuliza credit. Besides those, it offers personal loans, mortgages and business loans. Its paybill 880100 still appears on Safaricom’s list under the old CBA name. Estimate a loan on our NCBA loan calculator.
Co-operative Bank of Kenya in brief
Co-operative Bank has deep roots in Kenya’s co-operative movement and banks many Saccos and their members. Its loans include personal unsecured loans, MCo-op Cash mobile loans, asset finance, mortgages and loans aimed at Sacco and co-operative members. Its average lending rate in August 2026 was above the market average. Its M-Pesa paybill is 400200. Estimate a loan on our Co-op 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 | NCBA monthly | Co-op Bank monthly | Total interest difference |
|---|---|---|---|
| KSh 200,000 over 24 months | KSh 9,603 | KSh 9,698 | KSh 2,297 more at Co-op Bank |
| KSh 500,000 over 36 months | KSh 17,089 | KSh 17,335 | KSh 8,867 more at Co-op Bank |
| KSh 1,000,000 over 60 months | KSh 23,268 | KSh 23,795 | KSh 31,616 more at Co-op Bank |
On a KSh 1 million, five-year loan, the average-rate gap adds up to about KSh 31,616 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.
NCBA vs Co-op Bank: which should you choose?
- Cheapest average loan: NCBA (14.0%). Start your quotes there.
- Quick mobile credit: NCBA offers M-Shwari and Fuliza (with Safaricom); Co-op Bank offers MCo-op Cash. Mobile loans are usually priced differently from branch loans, so check the fee before borrowing.
- Depositing from M-Pesa: NCBA paybill 880100, Co-op Bank paybill 400200, 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, NCBA or Co-op Bank?
On CBK’s August 2026 data, NCBA had the lower average lending rate at 14.0%, against 15.01% at Co-op Bank. Your own rate depends on your credit profile.
What are the M-Pesa paybill numbers for NCBA and Co-op Bank?
NCBA: 880100; Co-op Bank: 400200. Use your bank account number as the account number.
Are deposits at NCBA and Co-op 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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