Instant loan apps in Kenya are giving banks a run for their money. This is because, for beginners, they are instant as opposed to bank loans, where one has to go through a tedious process and then wait before the credit is given.
The best loan apps in Kenya do not involve a lot of paperwork before issuing loans, something that most clients have found to simplify the entire process. While there are many pros of loan apps, borrowers should be keen on accessing such apps. So, which app gives loan faster in Kenya? We review the best 20 below:
Top 20 Instant Loan Apps In Kenya 2024
The best instant loan apps in Kenya is Berry loan app, Tara loan app, Mshwari by safaricom, KCB M-pesa, Timiza, iPesa, Zenka, Zidisha, Jazika, Uzunti, Kopa kash and MCo-op cash. If you have ever been starved of cash and are in dire need, these instant loan apps in Kenya eliminate this cumbersome process to give you access to sizeable loans on your handheld gadget.
1. Berry loan app
Described as a unique mobile money lending app, Berry offers low-cost instant mobile loans in Kenya with flexible repayment schedules. First, you have to download the app from Google Play Store and then register on Berry. Once the system officials have verified your identity, you can access their loans. And its our first pick for Instant loan apps in kenya
The first loan cannot exceed Ksh. 500 and then the amount gradually rises to Ksh. 50,000. The service fee on Berry loans is charged at 8-15% of the principal amount. The repayment is done through the app and is a self-explanatory process.
2. Tala loan app
Tala joins the list of top 20 loan apps in Kenya because of Kenyans’ massive downloads and wide usage. It is available on Google Play Store, and once you have downloaded the app, you can sign up and start accessing quick mobile loans in Kenya. However, you must provide your details for your account to be verified.
Tala provides personalised loans based on your digital credit history. Here you can track your credit using My Tala Status and repay the whole amount at once or in partial payments. You can repay your loan using Mpesa Xpress or through the Paybill number 851900. Its our second pick for Instant loan apps in kenya.
3. Mshwari by Safaricom
M-Shwari is one of the most widely used mobile loan services in Kenya. It is not just a lending platform but a paperless banking service that allows users to save and borrow. Its our third pick for instant loan apps in kenya.
Saving money through Mshwari earns you an interest rate of 3% for Ksh1-20,000, 5% Ksh.20,000-50,000 and 6% for greater than Ksh.50,000 annually. You access loans of a minimum of Ksh. 100, and the limit rises based on your credit history. You can only access M-Shwari loans if you have a Safaricom line.
4. KCB M-Pesa app
This is another mobile money lender affiliated with Safaricom, although the Kenya Commercial Bank owns it. KCB M-Pesa also enables you to save, thus enabling you to borrow. One can access KCB M-Pesa through the M-Pesa menu on the phone SIM toolkit or M-Pesa app, so you must have a Safaricom sim card as well. Its our fourth pick for instant loan apps in Kenya.
5. Timiza From Barclays
Banks have not been left behind regarding mobile loan apps in Kenya. For example, Timiza is an app by Absa Bank’s app allows users to do all kinds of banking from their phones. Its our fifth pick for instant loan apps in Kenya.
Services offered through Timiza include loans, fund transfers, insurance purchases and many more. Timiza app is available on Google Play Store, but those who can’t access it can dial *848# to register.
6. Branch loan app
Branch applicatiion is one of the most established loan apps in Kenya without registration fees in and outside of the country. Through Branch, one can access up to Ksh.70,000 from their smartphones at any time. And its our sixth pick for instant loan apps in Kenya.
You have to download the Branch app on Google Play Store and follow easy steps to register. After that, loans are approved in less than 24 hours, and there are no hidden fees. In addition, the lender does not charge late fees or rollover fees, so many people prefer the app.
7. Shika loan app
Shika is one of the credit apps that stand out by offering more than just loans. It is an SMS app with several cool features that facilitate text messaging. The app also provides the latest news on topics ranging from politics, sports, and entertainment.
Shika acts like a portal for several lenders to give credits to their clients. However, the credits are tailored more towards startups in agriculture, asset finance and invoice discounting.
8. iPesa loan app
iPesa loan app offers credits from as low as Ksh. 500 to Ksh. 50,000. The shortest tenor for credits is 91 days, while the longest is 180 days, so you will have enough time to repay your credit.
Their interest rate stands at 12% with no service fee. Once you download the app, register with your M-Pesa number and apply for the exact amount you need. If you repay your credits on time, your credit limit will be set at Ksh. 50,000.
9. Zenka loan app
If you have not used the Zenka app to get credit, you will love it. The first credit is interest and service fee-free. It means you only have to pay the amount you borrowed within the stipulated time, which is usually 61 days.
You can download the Zenka app from their website Zenka and install it on your phone. After filling the application form, you will receive the requested amount in less than five minutes.
10. Zidisha loan app
Zidisha is one of the best new loan apps in Kenya 2022 and is available in Google Play Store. Download it, register and start using the services. Zidisha functions as a non-profit peer to peer lending platform. It means that your credit will be coming from an independent lender and not the organisation itself. Its our 10th pick for instant loan apps in Kenya.
The app is a portal where lenders and borrowers meet and transact their business. To qualify for a credit, you have to be employed or running a business, be active on Facebook, have a working Safaricom sim card, provide a national ID and have a good credit history.
11. Okash loan app
Okash credit app provides both personal and business loans of up to Ksh. 60,000. You need to download the app from Google Play Store, install it and register. Using the personal details you provided, Okash determines your credit limit and the period you have to repay. The interest rate is slightly higher at 14%.
12. Jazika loan app
Like other loan apps in Kenya, Jazika gives instant loans anytime, anywhere. You are eligible for a credit as long as you have an M-Pesa line and the app in your advice.
Fill out the standard application form and wait for the officials to verify your details before disbursing the money. Credits are repaid as a once-off sum or in instalments through the paybill number 687035. You will also receive notification alerts.
13. Uzunti app
Uzunti credit app is just one of the many such products in the market. It provides you with a variety if you do not want any other apps. The mobile money credit platform works through M-Pesa, just like many other similar lenders.
The app lends both personal and business credits from Ksh.300 to Ksh.1,000,000, and the shortest credit tenor is 91 days, while the longest is 36 months. There is a 12% fee and interest of 12% in addition to a Ksh.400 annual account management fee.
14. Kopacash app
Kopocash is one of the best mobile loan apps in Kenya and applies a service based on the product you choose. The credit amount can range from as low as Ksh.1,000 to Ksh.50,000, and the repayment tenor has a minimum of 91 days and a maximum of 120 days.
The loan amount from the loan app can be disbursed directly into your M-Pesa or even bank account.
15. HF Whizz app
HF Whizz credit app works for both Android and IOS phones. HF Whiff belongs to the Housing Finance Group, making it among the most trusted lenders and the best loan apps downloaded from the Google Play store. The mortgage company backs the app with its financial might, giving clients assurance of transparency.
Once the app has saved your details, you do not have to input the Paybill number, thus eliminating the risk of entering the wrong number. Many credit companies in Kenya are considering going the same route; hence you should see more apps in the future.
16. Saida loan app
Saida credit app offers services to M-Pesa and Airtel clients, unlike many other money lenders in Kenya. Saida uses a variety of criteria to check if you are eligible for a credit.
The standard measure used to determine eligibility is your M-Pesa transaction messages. Your limit is then established, and then the money is disbursed to your phone.
17. Haraka loan app
Haraka lending app is just like the above-listed apps. If you need emergency loans in Kenya, then Haraka is the place to go. They offer instant nano-credits directly into your mobile wallet within minutes of your application.
There are benefits for paying your credits in good time as you will get rewarded. To be a client, you must have a Facebook profile and then decide on your payment terms before your credit can be approved.
18. MCo-op Cash
The MCo-op Cash is Co-operative Bank’s official mobile application where users can access bank services and emergency loans based on their profile. The bank allows a client to apply for loans as high as Ksh.200,000 or 2.5 times your net salary.
19. Apesa loan app
Apesa is one of the most-sophisticated mobile loan apps in Kenya. The application provides users with a reliable and safe channel to access loans instantly on one’s phone. Anyone on the platform can borrow up to Ksh.50,000 in three simple steps. The loan arrives in your account on the same day you apply for the application.
20. Kashplus loan app
If you seek a reliable loan app in Kenya, Kashplus is your best bet. You can access the mobile loan application from the Google Play Store and access personal loans via several clicks. All you have to do is install, register, and get money instantly on your phone.
The app provides loan amounts of between Ksh.2,000 and Ksh.50,000 with terms ranging from 91 to 365 days. The interest rate is 1.3% per month or 16% per year.
Which App Can Give You Loan Instantly?
- Tala App.
- Zidisha App.
- Branch Loan App.
- Timiza by Absa Bank Kenya.
- Saida credit app.
- KCB M-Pesa.
- Zenka Loan App.
- Haraka loan app.
Which App Gives Loan Without documents?
Robocash offers you a cash loan without documents. All you need is Address proof and PAN Card. You do not need this physical document or scanned copy. You can upload the photo of these documents on the Robocash app and website.
Where Can I Borrow Money Urgently In Kenya?
- Timiza loan app.
- NCBA Loop.
- MCo-op Cash app.
- HF Whizz app.
- Eazzy Banking app.
- Pesapap loan app.
- NIC NOW app.
- Vooma loan.
How Can I Apply For Haraka Loan?
To get a loan from Haraka, you download the app from Google Play Store. Upon downloading the app, you are required to open an account using your Facebook account. For you to qualify for the loan, you have to be between 18 years and 60 years old. Younger or older applicants will be dismissed.