Installment payment is a popular and practical way for Kenyans to pay for goods and services, allowing customers to spread the cost over a period of time. With this method, customers can pay in smaller, more manageable amounts instead of settling the full amount at once.  

Typically, installment payments are made monthly, and the amount of each payment depends on the total cost of the purchase and the repayment period. For example, if a customer buys a product worth Ksh 100,000 with a 12-month repayment plan, they would make monthly payments of Ksh 8,333.  

One of the main benefits of installment payment is that it enables customers to afford bigger purchases, such as furniture, home appliances, or electronics, without the pressure of paying a large sum upfront. By spreading out the cost, customers can manage their finances better while still acquiring the items they need.  

Additionally, installment payment can help customers build their credit history. Making regular, on-time payments demonstrates financial responsibility and can improve a customer’s credit score over time. This is particularly beneficial for those who may want to access larger loans in the future.  

However, it’s essential to understand the terms and conditions of any installment payment plan before committing. Some plans may include additional fees or higher interest rates compared to other payment methods. Customers should carefully evaluate the total cost of the plan to ensure it’s the best option for them.  

In Kenya, installment payment is a flexible and convenient solution that makes it easier for individuals and families to afford necessary or high-value purchases. Whether it’s to spread out the cost of a big purchase or to build credit, this payment method has become a valuable tool for many consumers.