Are you in a financial crisis where you need cash to meet some of your needs? This article presents you with 15 Best Mobile Loan Apps in Kenya With Low Interest Rates where you can borrow money fast.
Most loan apps in Kenya simplify the lending process by not involving paperwork. Moreover, most do not use credit scores when issuing loans because most borrowers prefer loan apps in Kenya without CRB checks.
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Best Mobile Loan Apps in Kenya With Low Interest Rates
Mobile Loan apps in Kenya thrive due to extensive internet and telecommunications network coverage. More lending apps are joining the Kenyan market network because more and more people need personal and business loans.
Digital mobile loaning apps are more popular than banks because they instantly provide loans once you register.
1. Zidisha
One of the top new lending mobile loan apps in Kenya is called Zidisha. It is a nonprofit lending platform, and individual lenders, not the company itself, provide your credit.
The app exclusively links borrowers and lenders. To be eligible for Zidisha credit, you must be employed or operating a business, have a current Facebook account, a national ID, a registered Safaricom sim card, and a solid credit history.
2. Tala
Inventure Mobile Limited’s Tala is a mobile-based lending business that offers customers in Kenya quick digital loans. The organization offers loans of up to Ksh 30,000 and employs cutting-edge technology to evaluate a person’s creditworthiness. Two weeks to six months are allowed for payback.
3. Eazzy
Like other loan apps in Kenya, Equity bank’s Eazzy app gives instant loans within 24 hours of successful application. The loans are disbursed to your Equity bank account, Mpesa line, or Equitel sim card.
Dial *247# to get the loan directly to your sim card instead of using the app. You are eligible for up to KSh3 million in credit, and the system determines your loan limit. It also offers a flexible repayment period of up to 12 months.
4. Branch
Branch (by Branch International) is another popular mobile loan app in Kenya that provides fast loans to Kenyans. It also uses advanced technology to assess creditworthiness and offers loans of up to KES 30,000 with repayment terms ranging from one week to six months.
5. Apesa
Apesa is among the mobile loan apps in Kenya with quality customer service. It is a reliable and safe channel to access loans instantly on a smartphone. Registered users of the Apesa app can borrow up to Ksh.50,000 in three simple steps. The app deposits the loan to your account the same day you apply.
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6. Okash
Okash is a mobile-based loan app that provides quick loans to individuals and small businesses in Kenya. It offers loans of up to KES 50,000 with repayment terms ranging from one week to six months.
7. KashPlus
If you seek a reliable loan app in Kenya, KashPlus is your best bet. You can download this mobile loan application from the Google Play Store and install it on your Android phone. Register to access personal loans instantly on your phone. The app offers loans from Ksh.2,000 to Ksh.50,000 for 90 to 365 days and at an interest rate of 1.3% per month (16% per year).
8. KCB M-PESA
KCB M-PESA is a mobile banking service offered by Kenya Commercial Bank in partnership with Safaricom. It allows customers to access quick loans of up to KES 1 million with repayment terms ranging from one week to twelve months. KCB M-PESA loans have low-interest rates and are preferred by many Kenyans.
9. Hustler Fund
Hustler Fund is a financial service provider (by the Kenyan Government) that provides loans and savings services to individuals and small businesses in Kenya.
With Hustler Fund, borrowers can receive loans ranging from Ksh 500 to Ksh 300,000 and repay the loan within up to 36 months. The loan application process is quick and easy
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10. Timiza
Timiza is a mobile loan app offered by Barclays Bank Kenya. It provides quick loans to individuals and small businesses in Kenya. Its repayment period also ranges from one week to twelve months.
11. M-Shwari
M-Shwari is a mobile banking service offered by the Commercial Bank of Africa (NCBA) in partnership with Safaricom’s M-PESA mobile money platform in Kenya.
It offers savings and loan services to its customers through their mobile phones. The loan service allows customers to borrow from Ksh 100 to Ksh 70,000, with repayment terms of up to 30 days.
12. Zenka
Zenka is a mobile loan app that provides quick and convenient loans to Kenyan citizens. The app uses a proprietary credit scoring algorithm to assess creditworthiness and make real-time loan decisions. With Zenka, borrowers can apply for up to Ksh 50,000 and repay the loan within 30 days.
13. Shika
Shika mobile Loan is a mobile-based loan app that provides fast loans to individuals and small businesses in Kenya. It offers mobile loans of up to Ksh 30,000 with repayment terms of up to six months.
14. Haraka
Haraka is a mobile loan app that provides quick, flexible, affordable loans to Kenyan citizens. It uses a proprietary credit scoring algorithm to assess creditworthiness and make real-time loan decisions.
15. Fuliza
This mobile loan is also a collaboration between M-PESA and the Commercial Bank of Africa (NCBA) and allows M-PESA users to borrow airtime or money to pay for goods and services.