What a loan app must tell you before you borrow, and when it can change the terms
Central Bank of Kenya Regulations, 2022 · sources read 4 Oct 2026
Before lending, a licensed loan app must give you its full terms in clear, simple language: the loan amount, all charges, the interest rate and whether it is on a reducing balance, due dates, the total cost of credit, the annual percentage rate and how to complain. It cannot raise charges or limits or change the main credit terms without at least 30 days' notice and your acceptance.
- Deadline
- At least 30 days' notice before the lender changes its terms and conditions.
- Deadline
- The lender has up to 30 days to resolve your complaint.
- Where
- The loan app's complaints channel; the Central Bank of Kenya licenses and supervises digital credit providers
Steps
- Ask the loan app for a copy of your loan terms. It must give you one on request.
- Ask for a full statement of your transactions. It must issue one on request.
- If something is wrong, complain through the app's complaints channel. It must resolve the complaint within 30 days.
- Keep the receipt or confirmation for every payment and loan transaction. The lender must issue one, electronically or by another acceptable means.
Watch out
- A loan app cannot change its pricing model or parameters without the Central Bank's prior written approval.
- The terms must state the loan amount.
- The terms must give the date everything falls due and how it is calculated.
- The lender must take reasonable steps to check you can repay before lending.
- An advert that gives an inaccurate or incomplete picture of the interest rate or charges counts as misleading.
- These rules cover digital credit providers, not banks, microfinance banks or Saccos.
Who this covers
- People who borrow from a digital credit provider (loan app).
Official sources (1)
- The Central Bank of Kenya (Digital Credit Providers) Regulations, 2022 (L.N. 46 of 2022) centralbank.go.ke · read 4 Oct 2026