Top 6 Mobile Loan Apps in Kenya

Mobile loan apps in Kenya offer a convenient and fast alternative to credit facilities. You just get a loan instantly from anywhere at the click of a button.

The following are the top 6 mobile loan apps in Kenya;

Tala

Tala is one of the top mobile loan apps in Kenya. The app is popular and offers loans that range from Kshs 500-30,000. They have flexible interest rates and repayment periods.
Their interest rate is 11% for 21 days and 15% for 30 days. You simply download the app, key in information and your loan amount is calculated.

Branch Loan App

Branch International offers flexible and instant loans via its mobile loan app. It’s one of the most popular mobile loan apps in Kenya. Their loan amounts range from Kshs 250-70,000. Their interest rates vary from 13-29%. Their repayment period is 21 days and 30 days.

Timiza

Timiza Loan app is a brainchild of Barclays (now ABSA) and is one of the most used mobile loan apps in Kenya.Timiza offers loan amounts from as little Kshs 50-150,000. The repayment period is 30 days. Additionally, their interest rate is 6.08%.

Okash

Okash, owned by OneSpot Technology Limited is among the best mobile loan apps in Kenya. They offer loan amounts that range from Kshs 2,500-50,000. The interest rate is 14% for 14 days and 16.8% for 21 days.

Zenka

Zenka Finance is one of the latest entrants in the mobile loan market. It has gained popularity instantly and offers loan amounts from Kshs 500-20,000. Their interest rate fee is 29% and paid in 30 days.

Mshwari by Safaricom

Mshwari is one of the most convenient and efficient mobile loan services in Kenya. Apart from offering loans, it offers its users a paperless banking service that gives you a platform to save and borrow cash. Saving on the Mshwari platform earns you about 6.65% interest per annum. The loan limit depends on how much you save starts from as low as Kshs 100.

If you qualify for the Loan, it attracts a 7.5% facilitation fee. For example, if you borrow Kshs 1,000 you will pay back Kshs 1,075.Other top loan apps include; KCB M-Pesa, iPesa, HF Whizz, Saida, Stawika, Zidisha, CBA Loop, Senti, and many more.

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