Best loans apps in Kenya

13 Best loans apps in Kenya 2024

Are you looking for an instant loan? Then mobile apps become the best way to receive money at the palms of your hands. Unlike bank loans and other traditional ways where you’ll be required to go through a long process to get the loans. Moreover, loan apps have little or no security and won’t ask you to seek guarantors for you to access the loans. Despite loan apps having many advantages, you should also be careful with dubious apps that may con you. So, what are the best loans in Kenya? Here are some of the best loans apps with good interest and will lend you money instantly.

1. Berry

This is one of the leading mobile loan apps in Kenya, offering instant loans plus flexible repayment. To access the loans, download the app on Google play then register. You will be able to access the loans after your identity has been verified. The first loan won’t exceed 500 shillings but if you’re an active user, the amount will rise gradually to sh.50,000. Berry loan app changes an interest of 9 to 16% from the principal amount.

2. Tala loan app

Taka offers instant mobile loans in Kenya. You will find the app on Google Play, download then sign up to access their loans. Make sure you provide your personal details for the verification process. Tala offers loans ranging from 1000 shillings up to sh.30000. When it comes to repayment, you will have two options. Either a 21 day repayment period or a 30 day repayment period. The service fee depends on the option you’ll have selected. A 21 day will offer less service fee than the 30 day repayment period. Their interest ranges from 11 to 15%.

3. KCB M-Pesa

This is another top platform in Kenya. It is a partnership between Safaricom and Kenya commercial bank. To access their loans, you must be an active Safaricom user. Undoubtedly, this loan app makes the best interest of the industry. Apart from accessing this platform via Safaricom M-pesa, you can also download it on Google play. You’ll be given a minimum loan of 50 shillings but can rise gradually up to tens of thousands. Their interest is 1.16% monthly plus a one-time negotiation fee of 2.5%.

4. M-Shwari by Safaricom

This app is widely used across the country. When saving money on this platform, you’ll earn an interest of 6.65% per year. You can access this app via Safaricom M-Pesa and secure a minimum loan of 100 shillings. This amount will rise depending on your credit history.

5. Branch loans

This loan platform is not only established in Kenya but also outside Kenya. Branch loan will give you a loan amounting to sh.70000 via your android smartphone. To get started, download this app on Google play then register. Your loan will be approved within one day. Impressively, there are no hidden fees, for instance, no rollover fees, and late fees. Therefore, many individuals prefer this loan app.

6. Timiza from Barclays

Banks are also part of the mobile banking industry. Timiza app was established by Barclays, to allow users to perform every form of banking via their phones. You can find their app on Google play, or register via USD code *844#. Users can borrow a minimum of sh.50 and a maximum of sh.150000. Their interest rate is quite low, 1.17% Plus a one-time facility fee of 5% to all loans.

7. Stawika loan app

This is another platform that will allow you to take a loan without any security. You can download the stawika app on Google play and register in a very easy way. This mobile lender offers a minimum of shs.200 up to sh.30000 of loan. After receiving the loans, you will be charged an interest of 1% daily. The loan should be paid within a month or a rollover fee of 10% will apply.

8. Zenka loan app

This is another great loan platform in Kenya. You will absolutely love this app. On borrowed credit, the first credit will be interest-free plus no service fee. Therefore, you’ll only pay the borrowed amount within the stipulated 61 days. Uses can download Zenka app from their site or Google play. Upon completion of the filling process, the requested loan will be initiated within 5 minutes. You can be given a loan of up to Ksh 20,000.

9. Ipesa

This is another great loan app that will lend you money from sh.500 Up to 90,000 shillings. Their shortest time to repay is 91 days as their longest is 180 days. You will be charged an interest of 12% without any service fee. You can find the ipesa app on the play store. Use your M-pesa when registering then apply for your loan. If you’ll be repaying the loan amount on time, they’ll set your credit limit to 50,000 shillings.

10. Zidisha loan app

You can download the zidisha app on Google Play, register, and start enjoying their services. The credit offered does not come from the organization itself. In this platform, lenders and borrowers are connected. Make sure you are active on Facebook, owning a national ID, possessing an active Safaricom line, be either employed or owning a business. Lastly, your credit history is also considered.

11. Okash

This is a platform that will not only provide business loans but also personal loans. You will enjoy up to sh.60000 of loan. Just download this app on Google Play, then install and register. The amount of loan you’ll be given will depend on your personal details. The organization has an interest of 14% which is slightly higher. However, the credit is given on time to solve your financial needs.

12. Jazika loan app

This is another fantastic loan app in Kenya. You’ll need an m-pesa line and download the app for application. Just fill in your details and wait for the verification process. Once you’ve been successfully verified, you’ll receive the loan then decide to pay once or in installments.

13. Utunzi

Utunzi app is like other loans app in the industry. You will receive your loan via m-pesa like many others. Their credits range from sh.300 to sh.1000,000. Their credit tenor ranges from 91 days to 36 months. There is an interest of 12% and a fee of 12%.

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