5 of the Best Loan Apps in Kenya for Instant Loans


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There are so many loan apps in Kenya that now offer a myriad of service options. They mainly offer the promise of fast loan solutions with no collateral. Their convenience has lured many into a vicious cycle of debt. Some of them have been known to issue threats and blackist borrowers. So don’t fall for their sweet offerings and encouraging words.

However, should you find yourself in a sticky situation where you need to urgently borrow money or you want to build yourself, here is a list of your top 5 best loan apps in Kenya. This list was complied based on reliablity of the company and their business practices.

1. Safaricom and CBA’s M-Shwari

M-Shwari is a mobile based bank account that offers both savings and loans. Over the years, it has become of the best and most convenient loan apps on the market. You can borrow as little as Ksh 100 at an attractive rate of 7.5% and payback within 30 days. The loan disbursement is done through M-Pesa and is processed within a few minutes.

To qualify for M-Shwari loans, you will have to be an active user of Safaricom and M-Pesa services for at least six months, and save religiously in your M-Shwari account.

Late repayment do not disturb your relationship with Safaricom. The loan is simply renewed if not repaid after 31 days and will be reported after 120 days, if not paid, to the Credit Reference Bureau (CRB) as required by law.

Why it’s great?

M-Shwari is super convenient and great for taking out loans during emergencies. It also comes with a savings option that earns you interest and has a deposit insurance.

Learn more: How to Get Out Of Debt Successfully

2. M-Pesa’s Fuliza

M-Pesa’s Fuliza is an overdraft service that allows you to complete M-Pesa transactions when you don’t have sufficient funds. This service allows you to transact up to Ksh 70,000 at a one-off interest rate of 1.083%. You will also be charged a daily administrative fee on the outstanding balance at a predetermined specified rate depending on your balance.

To qualify, you simply have to have an active Safaricom line and be subscribed to Fuiliza M-Pesa service to opt into the service.

Late repayment typically results in your access to Fuliza M-Pesa feature being revoked for unpaid balances after 30 days. Your services, however, will be fully restored once payment is made in full.

Why it’s great? 

Easy access to short-term credit when you most need it.

3. Tala

Tala is another quite popular loan app that allows you to take out instant loans at a flat fee rate. They offer two options, a 21-day loan and a 30-day loan. For the 21-day loan, they charge a service fee of 5%-14%. While as for the 30-day loan, a service fee of 7-19% is applied. On this app you can borrow for loans from Ksh 1,000 to 5,000. This loan limited can be extended as you payback the loan to Ksh 30,000.

Why it’s great?

Tala offers is easy to access and rewards you with lower fees if you payback on time.

Learn more: 5 Effective Ways to Get Out of Debt Quickly

4. Branch

Branch is a bonafide loan app that takes into consideration the borrowers individual repayment history, similar to what banks do, in determining the interest rate to offer. They offer loans of Ksh 250 – 70,000, for a duration of 4-48 weeks. Their interest rates may vary from person to person and the loan option chosen but typically range from 13-29% with an equivalenet of 2-16% and an APR of 22%-199%. Late repayment of loans, will result you in being reported to the Credit Reference Bureau (CRB) and subsequently blacklisted.

To qualify, you simple download their app from google play store and fill in a short application.

Why it’s great?

Branch doesn’t apply late fees for their instant loans, or rollover fees. They offer higher loan limits and you don’t need any collateral to get a loan or savings with them.

See also: How To Build A Good Credit Score

5. Zenka

Zenka is another great flexible loan app. They promise to offer loans in just 5 minutes of applying. Zenka offers loans of Ksh 500 up to 30, 000 – loan limits are extended by making loan repayments on time. They offer extended loan payment periods of 61 days with a one-time processing fee of 9-29% on the principal amount. The effective annual APR is 70.7 – 224.89%.

For late replayments, Zenka applies a late repayment penalty if the loan isn’t paid by the due date. They will also report you to the Credit Reference Bureau (CRB) as required by law.

To qualify, you simply have to download their app and register.

Why it’s great?

Zenka offers extended loan periods, unlike other loan apps.


Before engaging in the services of the above loan platforms, it is in your best interest to read the terms and conditions, and privacy policy very carefully. If you agree, only then should you proceed to use their services. Note that most loan apps will require you to share your personal information and have access to the data on your phone. Ensure that your privacy is protected and that they will use your information for good. Above all else, protect yourself from unscrupulous lenders.

Also, ensure that you have solid financial plan that establishes a viable debt solution for your financial problems. Don’t just fall for anything.

Happy Building!

Image credits: Top by cottonbro from Pexels


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Irene Makanga
Irene has an MBA in Finance and is an avid businesswoman, passionate about financial literacy.


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