Tech News, Reviews and More,

List of Top 10 Mobile Loan apps in Kenya 2020


Get real time updates directly on you device, subscribe now.


Mobile loans app has become common over the years and has made it possible for one to get loans easily through your mobile phone. According to recent studies, about 6.5 million Kenyans are digital borrowers. This is due to the fact that acquiring mobile loans is easy and convenient than formal loans, you, therefore, need to know top mobile loan apps in Kenya with instant approval.

Almost everyone who uses the Safaricom network and has an active MPESA account can be able to access mobile loans.

Mobile loans have some advantages compared to formal bank loans. Some of the advantages include:

  • They have lower interest rates
  • No security is needed
  • They have flexible repayment terms
  • Instant approval of loans and money deposited in your MPESA account

The disadvantage of mobile loans is that they have a loan limit, addictive and you can be blacklisted on the Credit Reference Bureau when you fail to pay within the required period.

Below is a list of top mobile lending apps in Kenya where you can get instant loans.

  1. Tala

This is the most popular mobile loans service provided by Tala Mobile. The app allows you to borrow loans ranging from ksh 1,000 – 5,000 during your first sign up then your limit can grow up to 30,000 as you pay back your loans. Tala offers a 30-day loan with a service fee beginning at 7% up to 19% and a 21-day loan with a service fee from 5% to 14%.

Download Tala.

  1. Branch

Branch offers loans from ksh 250 to ksh 70,000 with loan terms ranging from 4 – 48 weeks. They offer interest rates ranging from 13% – 29% with an equivalent monthly interest of 2% – 16%. Interest rates are determined by a number of factors, including your repayment history and the cost of lending for Branch. Loans are approved in less than 24 hours and the lender does not charge late or rollover fees making it most preferred by people.

Download Branch.

  1. Okash

Okash started its operations in Kenya in 2018 with a goal of empowering Kenyans with an easy and flexible way to acquire loans from their mobile devices. The maximum amount that can be borrowed is ksh 500,000. Okash has different loan repayment periods of up to 365 days and interest rate up to 36% per annum. The application process of the loan takes a few minutes.

Download Okash.

  1. Timiza

Timiza was launched by the Barclays Bank of Kenya. It’s one of the best loan apps in Kenya and is open to everyone with a mobile phone. It offers loan amount from as little at ksh 50 to a maximum of ksh 150,000. The interest rate charged is 6.17% and the duration of the loan payment is usually 30 days.

Download Timiza.

  1. Zenka

Zenka is the most flexible mobile loan platform on the market and one of the top loan apps in Kenya. It offers a simple registration process and application process through their mobile app after which you receive loan straight on your MPESA account. You can borrow from ksh 500 to ksh 30,000 with an interest rate fees starting at 5% for each loan and a 61- day repayment period.

Zenka app.

  1. Stawika

Stawika mobile app based in Kenya offers instant mobile loans. Stawika automatically evaluates your mobile phone data and your credit history to assign loans. It takes less than 5 minutes to apply for a loan. Stawika provides loans between ksh 500 to ksh 50,000 which is deposited in your MPESA account after approval.

Stawika app.

  1. Haraka

Haraka was released in 2014 offered by Getbucks Pty (LTD), it’s among the top-rated loan apps in Kenya.

Their loan amount ranges from ksh 500 to ksh 5,000 at an interest rate of 23% payable after 30 days. One can also exceed the loan limit after repaying your first loan and following their guidelines.

Haraka app.

  1. Saida

Saida mobile app offers services to both MPESA and Airtel Money clients. To be eligible for a Saida loan, your MPESA/Airtel account must be active. The app reads and monitors your transaction and call activities to establish your loan limit and eligibility to repay.

To access Saida loans download the app from play store and sign up.

Saida app.

  1. Mshwari

Mshwari is a mobile banking service offered by Mpesa. The minimum amount that can be borrowed is ksh 100 and your limit rises based on your credit history. Mshwari gives you opportunity to save as little as ksh 1 and earn interest on your saving balance. Mshwari offers a loan facilitation fees of 7.5%.

  1. KCB Mpesa

The loan platform was started in 2015 in partnership between Kenya Commercial Bank with Mpesa through Safaricom. The minimum loan limit is ksh 100 and a maximum of 1,000,000 with a one month loan charged at 7.5% interest. The loan has a special feature that enables you to borrow multiple times as long as you are within your limit. KCB MPESA loan can be accessed through the MPESA menu on your phone.


READ ALSO: Profitable Online Jobs in Kenya that Pays well.


Comments are closed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More