What is Total Cost of Credit in Kenya banks

Total Cost of Credit or TCC refers to the total amount payable for a loan, including all bank fees and charges, and estimated third party costs such as legal fees,and valuation and stamp duty in the case of loans secured by a physical asset.

Before signing a loan agreement, a customer should request the bank to provide them with a Total Cost of Credit breakdown as well as the Loan Repayment Schedule. This will not only empower the customer to make an informed decision, but also will enable the customer to compare the fees and charges within the market.



The Kenya Bankers Association (KBA) published the “Consumer Guide to Banking in Kenya” to define standards of good banking practice for both bank
customers and members of the KBA.An English and Kiswahili translation of this Guide can
be accessed via the KBA Web site:www.kba.co.ke..

Central Bank of Kenya Consumer Protection Guidelines

The Central Bank of Kenya is committed to protecting customers against risks of fraud, loss of privacy, unfair practices and lack of full disclosure. Download the Central Bank of Kenya Consumer Protection Guidelines to read about what the law says about your rights as a consumer.


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