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LOOP by NCBA review

Updated September 28, 2026 · SumCue Editorial Team · Facts checked September 26, 2026

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Our verdict

LOOP by NCBA is a Kenyan digital lender and deposit taker built for customers already banking with it, not for new savers. The fixed account pays 6% to 7% with a KES 1,000 minimum deposit and a monthly fee of KES 0, which suits people parking spare cash for a short stretch.

Key facts

Best for
Existing LOOP customers who want a short fixed deposit or a small loan released inside the app.
Monthly fee
KES 0↗
Card type
Debit↗
Legal entity
LOOP DFS↗
Headquarters
Kenya↗
Founded
2013↗
Support channels
Email, Phone, Help-centre↗
Features
Virtual card
Official website
loop.co.ke

Loans

Loan amount
KES 2,000 to KES 100,000↗
Term
1 month↗
Arrangement fee
7% facility fee plus 20% excise duty, deducted upfront on disbursement↗
Credit check
Hard↗
Funding time
Instant, via the LOOP app↗
Rate type
Variable↗
Lender type
Direct lender↗
Free early repayment
Yes↗
Eligibility
LOOP customers who have made LOOP their primary account and transacted for at least 3 months (90 days), with a good credit history and no CRB listing↗
Origination fee (%)
7%↗
Loan types
Personal, Payday, Credit-line, BNPL, Business↗
Credit needed
Good↗
Use cases
Home-improvement↗
Pricing model
Fixed rate, No monthly fee

Savings

Headline rate
6% to 7%↗
Minimum deposit
KES 1,000↗
Access terms
Cash access within 48 hrs; break option liquidates before maturity at a lower rate↗
Account kind
Fixed↗

Facts checked September 26, 2026, 5 sources

Apps and profiles

Get the app
App Store

Pros and cons

Pros

  • No monthly fee on the account, and a fixed deposit opens from a KES 1,000 minimum deposit.
  • Loan funding is Instant, via the LOOP app, so the money lands without a transfer wait.
  • Early repayment is free, so clearing a balance early adds nothing to what is already deducted.
  • Support runs on email, phone and help centre, covering phone and email alongside a help centre.

Cons

  • Borrowing adds a facility fee of 7% plus excise duty, both taken upfront on disbursement, so the amount received is less than the amount borrowed.
  • Applicants face a hard credit check and a good credit history, with loans arranged over 1, which leaves little room to spread the cost.
  • Breaking a deposit before maturity liquidates the balance at a lower rate, and access to cash takes a short waiting period.
LOOP by NCBA

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Scored 9.0 / 10 by SumCue.

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Who it suits

  • Customers who have made LOOP their primary account and used it for a waiting period, with a good credit history and no credit bureau listing.
  • Savers with a spare balance who can leave it untouched until the term ends.
  • Households covering home improvement who want funds in the app the same day.

Who should look elsewhere

  • Plazo ES, whose virtual card suits readers who only want spending access and no term deposit.
  • Skrill, a prepaid wallet, fits readers who want funds loaded and spent across borders.
  • AccessMore, a prepaid everyday account, suits readers who want spend-first banking rather than a fixed deposit.

Rates and terms

Headline rates on the fixed account run 6% to 7%, with a KES 1,000 minimum deposit and a monthly fee of KES 0. The rate type is listed as variable, and loans are arranged over 1, so money is tied up briefly. Borrowing adds a fee of 7% plus excise duty taken upfront.

Who runs it

The lending and deposit business runs under LOOP DFS, based in Kenya and founded in 2013. It is a direct lender, so credit decisions and disbursement sit with the brand rather than a broker. Support runs on email, phone and help centre, covering phone and email alongside a help centre, and everything is arranged in the LOOP app.

How LOOP by NCBA compares

Where LOOP by NCBA is available

Available
Kenya

Countries from its affiliate programme (Source)

Frequently asked questions

Is there a monthly fee on the LOOP account?+

The fixed deposit runs with a monthly fee of KES 0, and the model is listed as carrying no monthly charge. Opening it needs a minimum deposit of KES 1,000, so holding the balance in place adds no ongoing cost to the deposit side.

What rate does the fixed account pay?+

The headline rate is 6% to 7% on an account kind listed as fixed, so the balance is committed for a set period rather than available on demand. The rate type is variable, which means the headline figure can move. Breaking early pays a lower rate.

How quickly is a loan paid out?+

Funding is Instant, via the LOOP app, so a request made in the app is released without a transfer wait. The facility covers KES 2,000 to KES 100,000, which suits a single bill rather than long borrowing, and the lending range covers personal, payday, credit line, buy now pay later and business needs.

What fees come with a loan?+

A facility fee of 7% is charged, plus excise duty, and both are deducted upfront when the money is released, so less reaches the account than the amount requested. Early repayment is free, so settling the balance ahead of schedule costs nothing beyond what has already been taken.

Who is eligible to borrow?+

Applicants must already hold LOOP as their primary account and have transacted on it for a waiting period, with a good credit history and no credit bureau listing. A hard credit check runs on the application and a good credit history is expected, so the bar sits with established customers.

How long must money stay in the account?+

The savings side is a fixed account and loans run over 1, so cash is committed for a short stretch in both cases. Breaking a deposit before maturity liquidates the balance at a lower rate, which means the account rewards patience more than quick access.

How do I get help?+

Support runs on email, phone and help centre, so phone and email are both covered alongside a help centre. Questions about the facility fee, the deposit terms or a loan application can go through any of those routes, and the app is where applications and disbursements are handled.

Sources

  • loop.co.ke checked September 26, 2026

    Backs: Funding time, Headquarters

    “Get your Quick Loan today. Easy application, instant approval, and money when you need it.”

  • loop.co.ke/about-us checked September 26, 2026

    Backs: Founded, Legal entity, Lender type, Loan types

    “Our 13 years of history enabling digital financial services and financial inclusion across Sub-Saharan Africa puts us ahead of the curve”

  • loop.co.ke/faqs checked September 26, 2026

    Backs: Account kind, Card type, Credit check, Credit needed, Eligibility, Features, Free early repayment, Headline rate, Arrangement fee, Origination fee (%), Rate type, Support channels

    “with a guaranteed rate of return on their invested amount of up to 7% over a maximum period of 12 months, with an option to re-invest upon maturity”

  • loop.co.ke/lifestyle/loop-invest checked September 26, 2026

    Backs: Access terms, Minimum deposit, Pricing model, Monthly fee

    “If you ever need to access your cash you can get it within 48 hrs”

  • loop.co.ke/lifestyle/loop-quick-loans checked September 26, 2026

    Backs: Loan amount, Term, Use cases

    “Borrow from KES 2,000 up to KES 100,000 to handle anything urgent.”

Compiled from 5 source pages, checked September 26, 2026. We did not open an account.

Not confirmed yet: Currency conversion fee, Free ATM withdrawals, Protection.

LOOP by NCBA

LOOP by NCBA

Existing LOOP customers who want a short fixed deposit or a small loan released inside the app.

9.0/10See alternatives