Top 10 Best Mobile Loan Apps in Kenya

Several mobile loan apps in Kenya offer convenient and instant mobile loans to individuals and small businesses across the country. This article highlights some of the best mobile loan apps in Kenya based on loan limits, interest rates, time to issue, and the repayment period.

List of Best Mobile Loan Apps in Kenya 2024

This section explores the landscape of mobile loan lenders in the country. It highlights their features, eligibility criteria, interest rates, repayment terms, and other relevant information. Whether you’re in need of emergency funds or looking for short-term financial assistance, this section will provide valuable insights to help you navigate the world of mobile loan apps in Kenya.

#1 Tala Loan App (One of the Best Mobile Loan Apps in Kenya)

Tala is a mobile-based lending platform by Inventure Mobile Limited that provides instant digital loans to customers in Kenya. The company uses advanced technology to assess the creditworthiness of an individual and offers loans of up to Ksh 30,000. Its repayment period ranges from two weeks to six months.

#2 Branch Loan App

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.

#3 Okash App

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.

#4 KCB M-PESA (One of my Favorite Mobile Loan Apps in Kenya)

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.

#5 Timiza Loan App

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.

#6 Shika Loan App

Shika 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.

#7 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.

#8 Fuliza Loan

This app 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.

#9 Haraka Loan App

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.

#10 Zenka Loan App (One of the Leading Mobile Loan Apps in Kenya)

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.

#11 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.

How to Appy for Mobile Loans in Kenya 2024

You can download the loan lender’s mobile apps to apply for digital loans from Google Play Store or Apple App Store. You can also access the loans via the following mobile USSD.

Tala Loan USSD: Only via the App.
Branch Loan USSD: Only via the official mobile app.
Okash Loan USSD: *955#
Timiza Loan USSD: *848#
Fuliza Loan USSD: *234#
Haraka Loan USSD: *841#
Zenka Loan USSD: *483*101#
Hustler Fund USSD: *254#
Shika Loan USSD: *281#
Stawika Loan USSD: *872#
Mshwari USSD: *334#
MCo-opCash: *667#
Pesa Pap: *325#
KCB Mpesa KCB Bank *844#

Licensed Mobile Loans Lenders in Kenya 2024

As of January 2023, only 22 digital lenders were licensed by the Central Bank of Kenya to issue digital loans in Kenya. These lenders who run mobile loan apps include the following.

Inventure Mobile Limited – Tala
Letshego Kenya Ltd
Natal Tech Company Limited
Pezesha Africa Limited
Ngao Credit Limited
Tenakata Enterprises Limited
Umoja Fanisi Limited
Zanifu Limited
Jumo Kenya Limited
MFS Technologies Limited
M-Kopa Loan Kenya Limited
Mycredit Limited
Ceres Tech Limited
Getcash Capital Limited
Flash Credit Africa
Jijenge Credit Limited
Kweli Smart Solutions Limited
Mwanzo Credit Limited
MyWagepay Limited
Rewot Ciro Limited
Sevi Innovation Limited
Sokohela Limited

Conclusion: Best Mobile Loan Apps in Kenya

These loan apps in Kenya offer an alternative to traditional banking and provide quick and convenient access to credit for individuals and small businesses in need.

It’s worth noting that these apps have different loan amounts, repayment terms, and interest rates, so it’s important to compare and choose one that meets your specific financial needs and requirements.

Additionally, thoroughly researching and understanding the terms and conditions, fees, and interest rates associated with each app before applying for a loan is always a good idea.