Home INFOMATIVE Mogo vs Watu Boda Boda loans. Which one is the best?

Mogo vs Watu Boda Boda loans. Which one is the best?


Mogo and Watu are two leading boda boda loan providers in Kenya. Sometimes it’s confusing which among the two is ideal to take a loan from. Some of the things to consider are repayment terms, interest rate and the amount awarded to loan applicants.


To get a loan from Mogo, you have to provide original and copy of your ID,6 months Mpesa statement, KRA Pin, one guarantor and you must be aged at least 20 years and at most 65 years.

Application is done online on Mogo Loan page.

They require down payment of 20% of the cost of the boda boda.If it costs Ksh 100,000,you will pay first Ksh 20,000 before being awarded the loan.

Repayment of the loan is as little as Ksh 323 per day.


The minimum age is 20 years and maximum 65 years. At Watu you need two referees and Mpesa statement of 6 months. Original and copy of your National ID and a KRA Pin.

Comparison of the two

Mogo loan requires only 1 guarantor while Watu Credit requires 2 guarantors. Meaning that it’s easier to get a loan from Mogo than Watu.Another difference is that Mogo has indicated the minimum daily payment which is Ksh 323 but Watu has not specified the amount. Another difference is the percentage of the down payment. Mogo’s percentage is 20 but Watu has not specified.

From the information provided above, it’s clear that Mogo is more transparent, hence the ideal to take a loan from.

Getting a loan isn’t a big issue, the problem is when they demand to be paid. I have heard many cases of Watu harassing their clients who fail to pay.

One of the people who took a loan from Watu narrated to us:

“I took a boda boda on loan from Watu.The cost was Ksh 150,000. I paid a deposit of Ksh 35,000 and I was told to pay the remaining amount within 24 months.By the end of the 24 months,I had paid Ksh 285,000,almost double the price of the boda boda.i wish I had saved to buy in cash”.

Based on stories from those who have taken loans, Watu Credit is not as good as Mogo.At Watu, their interest is higher than Mogo. The interest can go as high as 80% of the total cost of the boda boda.

At Mogo, the interest range between 18% to 25%.

The minimum down payment for Watu is also higher. You can pay up to Ksh 40,000.

Verdict:Mogo is better than Watu

Post Views: 1

Source link