List Of Genuine Loan Apps In Kenya
In this article Keweb.co tries to answer the question by publishing the full list of Genuine Loan Apps in Kenya
Below are the full List of Genuine Loan Apps In Kenya
1. Mobile Loans offered by Safaricom
They offer these loans directly on Safaricom, and you don’t need another app to access them. They include:
- Fuliza
- Mshwari
- KCB M-Pesa
2. Mobile Loans offered by Banks
Banks have used mobile lending and developed products offering loans to the public or their customers. These are the safest loans and have low interest since these providers are regulated.
The mobile loans offered by banks in Kenya include:
- Timiza – By ABSA Bank
- NCBA Loop–You must save and use the app for some time to qualify for a loan.
- HF Whizz–You will have to use it for some time and undergo the KYC process to qualify.
- Eazzy App by Equity
- KCB Vooma Loan–If you are a customer of KCB Bank, you are eligible.
- PesaPap Wallet Loan by Family bank
- MCo-Op Cash by Co-op Bank
3. Loan apps downloaded on Google Play
Here are the traditional mobile loan apps found on Google Play. I will only list genuine loan apps in Kenya. Although, some have questionable practices even though they give out loans. They will invade your privacy and call your contact list if you default.
We had a list of the top 20 loan apps in Kenya. However, we have since revised the article and only have the top loan apps in Kenya. Most mobile loan app lenders had closed and removed their apps from Google.
Back then, when you needed a quick cash loan, there were limited options, from going to banks (which is not fast) to turning to family and friends for help.
Luckily, you can do almost anything on your smartphone these days, including accessing a fast loan. There are many best instant loan apps in Kenya where it will take you less than 5 minutes to get a loan to your M-Pesa.
Top 15 Loan Apps in Kenya
1. Branch Loan App
The first loan app in Kenya to review is Branch Loan. It is a popular app introduced to Kenyans in 2015 by Branch International. After Tala, the branch loan app is Kenya’s second oldest online mobile lending platform.
The Branch loan app is available in Kenya and can also be found in Tanzania and Nigeria. The mobile lending app gives its users loans up to KES 70,000.
To get started on Branch App, you download it from Google Play, use Facebook to sign up, and log in, and automatically you will know if you qualify for a loan. If they approve you for a loan, you will receive it through M-Pesa.
2. Tala Loan: Best Loan App in Kenya
I initially knew it as Mkopo Rahisi and rebranded to Tala. Tala Loan App is among Kenya’s best and oldest mobile loan applications. Over the years it has existed in Kenya, Tala has grown to be the most trusted mobile loan provider and one of Kenya’s best instant loan apps.
They offer loans up to 30,000 and disburse the loan through M-Pesa. They pride themselves on giving loans in less than 5 minutes, and you will build your credit up to the maximum amount by repaying your loans in time.
Tala App has over 5 Million downloads on the Google store and is one of Kenya’s most popular money-lending apps. To get a loan from Tala, you must download it to your smartphone and create an account. If they do not list you on CRB, you will get your first loan to choose the payment terms.
3. Timiza Loan
Timiza is an online Mobile money app by Absa group, formerly known as Barclays Bank Kenya, one of the local banks in Kenya. As mentioned earlier, the lending app craze in Kenya has forced mainstream financial players to innovate.
Unlike other apps from banks, the best thing about Timiza is that they do not limit it to the bank’s customers alone but are instead available to all Kenyans.
Apart from offering loans, the Timiza app also serves as a bank account to manage their account.
Timiza loans have a repayment period of 30 days, and one can borrow up to KES 150,000.
4. MCo-op cash
This loan app enables the cooperative bank of Kenya customers to access bank services, including emergency loans. It gives customers account balances and transfers cash from their MCo-op Cash to Mpesa, Airtel.
It also allows bank customers to purchase airtime from the MCo-op cash account, among other services. With MCOOP Cash App, you can apply for up to 200,000 shillings, 1.5 times your net salary.
5. KCB M-Pesa
I believe Safaricom set the ball rolling for mobile lenders, and KCB, in partnership with M-Pesa, came up with a solution.
If you are a registered M-Pesa user, you can access KCB M-Pesa. Since it is already on your mobile phone, you do not have to go through the pain of downloading and installing the application.
One only needs to click on the KCB Mpesa tab under loans and savings and select a loan. That’s it. They require no registration or further details from you.
Once the amount you have requested is within your loan limit, they will send the loan amount to your Mpesa. KCB M-Pesa, therefore, ranks on the list of the best online M-Pesa loans in Kenya today.
6. Mshwari
I could not finish this list without mentioning a Safaricom product. All the other apps work best with M-Pesa. So, just like KCB, M-Pesa Safaricom, in partnership with NCBA Bank, has a solution for mobile loans dubbed Mshwari.
It operates on the principle of saving for accessing a loan. Depending on how you keep on Mshwari and repay your past loans, they can increase your limit.
To qualify for a Mshwari loan, you must be an M-PESA subscriber for six months, save on M-Shwari and actively use other Safaricom services such as voice, data, and M-PESA.
7. Fuliza overdraft facility by Safaricom:
Like Mshwari, the Fuliza overdraft facility is a partnership between Safaricom and NCBA Bank. It helps you access loans outside your loan limit if you have insufficient funds in your M-PESA account.
For instance, they offer an overdraft facility if you are sending money and your balance is not enough. All you have to do is accept, and the remaining balance will be sent to your M-Pesa account.
8. HF Whizz Loan
HF Whizz is more than a lending app; it offers so much more where you can do most of your digital transactions.
These include: paying for goods directly from your HF account, money transfer, saving on the app, buying airtime, and applying for a loan. Here is how to get an HF Whizz Loan.
9. Okash Loan
Opera Software develops Okash to tap into the growing money lending business. The application started with a target of providing loans to at least 100,000 Kenyans for a start. The Okash loan app is one of Kenya’s most popular lending apps.
10. Zenka Loan
Zenka is one of the best, and the best thing is that you get your first loan free. When you apply for 2000, you pay back 2000. Zenka loans start at Ksh 500 and can go up to 20,000.
After the first free loan, the Zenka loan will charge an 11% interest fee if you repay your loan on time.
Based on the reviews shared by most of its users, the Zenka mobile loan app has zero hidden costs to its customers.
All the costs you might need to incur while accessing the loan are known to you during your application. As a result, they make your loan cost as affordable as possible.
It also has a unique feature that allows customers to top up their loans if they need more money.
However, the eligibility criteria are quite strict, and applicants must have a good credit score and impeccable repayment history.
In addition, Zenka offers a loyalty program for referrals with rewards such as discounts on loan fees and interest rates.
11. Eazzy loan by Equity Bank
This mobile loan app is offered by Equity bank and provides borrowers quick access to loans of up to Ksh 3,000,000.
Applying for an Eazzy loan couldn’t be easier; all you have to do is open an equity bank account, download the app and fill in the online application form.
Once approved, the loan is disbursed to your bank account in minutes. The app also provides budgeting tools and repayment reminders to help you stay on top of your finances.
12. NCBA Loop
NCBA Loop app is a mobile banking solution from NCBA Bank. It allows users to access financial services with their phones, such as sending money, paying bills, and applying for loans.
Applying for a loan on the NCBA Loop app is easy; you must input your details and wait for approval. The loan limit depends on your available saving balance, credit score, and transaction history. NCBA Loop also provides customers with helpful financial advice and budgeting tools to help them manage their finances better.
13. iPesa Loan App
iPesa is an online loan app that provides short-term loans of up to Ksh 50,000 with a repayment period of up to 128 days.
The app has a minimum APR of 36% and offers flexible repayment options, including M-PESA or bank transfers. The application process is quick and straightforward; you must fill out an online form, provide basic information and wait for the approval.
13. Flashpesa
Flashpesa is a popular Kenyan mobile loan app that allows customers to get short-term loans with low-interest rates and flexible repayment options.
It enables users to apply for loans of up to Ksh 20,000 instantly with just a few taps on their phone. Additionally, Flashpesa offers discounts on various items when customers use their services
15. LendPlus
Finally, LendPlus is another popular loan app in Kenya, offering customers quick access to loans of up to Ksh 15,000 with a repayment period of up to 30 days.
The application process is simple; all you have to do is fill out an online form, provide the necessary documents and wait for approval. The interest rates are relatively low, and the application process is quick.
Summary of Mobile Loan Apps in Kenya
| Name | Minimum Amount (KES) | Maximum Amount (KES) | Repayment Period |
| Fuliza | 1 | 70,000 | 30 Days |
| Mshwari | 100 | 50,000 | 30 Days |
| KCB M-Pesa | 1000 | 1,000,000 | 30 Days |
| Timiza | 50 | 1,000,000 | 30 Days |
| LOOP | 50,000 | 3,000,000 | 6 to 36 Months |
| HF Whizz Loan | 1,000 | 50,000 | 30 Days |
| Eazzy Loan | 1,000 | 3,000,000 | From 1 to 36 Months |
| KCB Vooma Loan | 1,001 | 300,000 | 30 Days |
| Mco-op Cash Loan | 1,000 | 500,000 | 1 to 3 Months |
| PesaPap Wallet Loan | 1,000 | 50,000 | 30 Days |
| Branch loan | 1,000 | 70,000 | 30 Days |
| Tala loan | 1,000 | 30,000 | 30 Days |
| Okash Loan | 500 | 50,000 | 15 and 21 Days |
| Zenka loan | 500 | 30,000 | 61 Days |
Frequently Asked Questions about Loan Apps in Kenya
Which app gives loans immediately in Kenya?
All genuine loan apps in Kenya gives loans immediately depending on your eligibility and credit score. For instance, Branch app, M-Shwari and KCB M-Pesa are some of the most popular loan apps that offer instant loans.
Where can I borrow money urgently in Kenya?
There are several loan apps in Kenya that offer quick loans. For example, Tala, Branch, and M-Shwari provide fast access to funds when you need them the most. Additionally, these apps do not require lengthy paperwork or collateral for approval.
Which are the most reliable loan apps in Kenya?
From my personal experience, the most reliable loan apps in Kenya are KCB M-Pesa, Branch, Tala, and M-Shwari. All of these apps offer secure and efficient loan services with quick approval and flexible repayment options. Furthermore, they have competitive interest rates and no hidden fees or charges.