I&M Bank Car Loan

I&M Bank Kenya provides car loans covering up to 80% of the vehicle cost with competitive rates between 14-18% per annum.

Last checked on May 29, 2026. We may earn a commission when you click through.

I&M Bank offers flexible car loans, making vehicle ownership accessible for many Kenyans.

✓ Finances up to 80% of vehicle cost ✓ Competitive interest rates between 14-18% ✓ Relatively quick approval time

Auto I&M Bank Reviewed

I&M Bank Car Loan

Updated 11 days ago

APR

Amount

Term

14.0–18.0%

$500,000–$10,000,000

12–48 mo

Requirements

Kenyan resident

Aged 18+

Proof of income

Decision

3-5 business days

Our Verdict

I&M Bank offers flexible car loans, making vehicle ownership accessible for many Kenyans.

Best For

This loan is best for individuals looking to finance a vehicle with manageable interest rates and a reasonable approval timeframe.

Watch Out

Be prepared to pay a 20% deposit, as this is a requirement for loan approval.

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About this loan

I&M Bank Kenya provides car loans financing up to 80% of the vehicle cost with an interest rate of 14-18% per annum.

What Customers Say

Borrowers appreciate the competitive rates but note the high deposit requirement as a downside.

Expert Analysis

The 14-18% APR rate offered by I&M Bank is competitive for car loans in Kenya. This means if you borrow KES 1,000,000, your annual interest could range from KES 140,000 to KES 180,000, impacting your monthly payments significantly. The bank finances up to 80% of the vehicle cost, making it easier to purchase a car without breaking the bank.

Approval generally takes 3-5 business days, which is fairly standard in the industry. However, customers should be aware that this loan requires a 20% deposit, which can be a barrier for some potential borrowers. Unlike some competitors, I&M Bank has a application process, but those with lower credit scores might face challenges in getting approved.

While I&M Bank provides solid customer support, their app usability could be improved for a smoother experience. Those looking for a quick turnaround or lower deposit requirements might want to explore alternatives like KCB Bank, which offers similar products but with different terms. Always consider how the interest rate translates to your financial situation before committing to a loan.

Rates shown are representative. Your actual rate may differ based on your circumstances. We may earn a commission for referrals.