Tough times have been the issue why people borrow. With Dave, obtaining financial support for your loan and budget won’t be a problem. You plan for upcoming expenses by using loan apps like Dave. Borrowing is also one peculiar thing you can do on these apps. These applications are all about financial management and support. 

Therefore, loan apps like Daves share almost the same features with Dave.

All You Need to Know About Loans Apps Like Dave

Loan apps like Dave only charge you a monthly subscription fee or a one time fee. Some do not charge at all. You do not have to worry about paying back a fixed and variable interest. Individuals can borrow up to a large minimum they need instantly.

Moreso, loan apps like Dave are majorly the best payday loan lenders.

Pros:

1. No fixed interest rates, management and support fee
2. Centers on financial management
3. No credit checks to determine your creditworthiness
4. You can borrow even if your credit score is not good.

4 Loan Apps Like Dave

Loan Apps Like Dave	Standard Fee	Best For	Pros	Cons
MoneyLion	None	Used mainly for building credit score	A. There are no fees for standard delivery. B. Has a two-day-early paycheck. C. Customers can get up to a $250 loan.	A. A “Turbo Fees” is applied for an instant loan. B. Has no effect on credit scores.
Varo	$0 – $5 per month	Served best for all bank features	A. There are no fees attached on loans of $20 or less B. Has a two-day-early paycheck	A. Has a high fee percentage. B. Has a low cash advance limit.
Empower	$8 per month	Best used for cash back rewards	A. There’s no interest or fees attached. B. Has a two-day-early paycheck. C. You can get up to $250 in loan or cash advance.	A. Comes with a paid subscription service. B. Your account criteria decides the loan amount.
EarnIn	None	Used best for managing bank account	A. No fees applied. B. Has a two-day-early paycheck. C. You can get up to a $500 loan.	A. The bank fees can apply or extend to “Lightning Speed” payments. B. The loan app is only available to U.S. citizens. Kenyans can’t use it.

Other Loan Apps Like Dave

We will jointly explore and discuss 6 other loan apps like Dave:

1. Branch International
2. Brigit
3. Sofi
4. Avant
5. Speedy Cash
6. ACE cash express

Branch International

They give users easy access to loans. Using the app, you can sign up for financial help, apply for loans and receive it within minutes. The app also helps you create a budget and access your earnings.

Brigit

This application is similar to Dave. It allows you to get up to $250 loans. You can budget and save on the app. With these you can get a clear view on your spending habits and keep track of the daily and monthly bills. Brigit gives a no-interest loan, flexible repayment and extension on advances.

Sofi

They offer many financial solutions to customers. The app gives you access to loan, trading of shares, stocks and cryptocurrencies. You are given a debit card which allows you to earn a reward when you spend on company’s brands.

Avant

You can use this loan app to borrow, see upcoming repayments and your payment history. Loan of up to $35,000 can be accessed. These loans can be processed within minutes.

Speedy Cash 

Speedy cash is one of the lending loan apps like Dave that provided access to different types of loans. The application allows you to manage your payday, credit or extra cash on your existing loans. You can borrow a minimum of $50 to $26,000 on the app.

ACE Cash Express

They give you a loan, manage it and refine it in fast and flexible steps. You can use the app to make repayments, schedule recurring expenses and plan on payments.

How you can get loans from these loan apps like Dave

Getting loans from these applications are simple and very flexible. The steps are:

1. Download the loans app
2. Install the app on your smartphone 
3. Register on the app and supply other required personal information 
4. Apply for the loan limit available for your through the “Apply” tab

Read up on how Dave Loan App reviews and how it works.

Who needs loan apps like Dave

1. Those with steady paycheck
2. Individuals who wish to get out of financial crises. These apps will help you to plan and budget
3. People who wants to assess their spending and borrowing habits
4. customers who need quick cash to settle emergency expenses.

You can also get a loan from the powerhouse National Bank of Kenya.

Conclusion

Loan apps like Dave make it easier for consumers to manage finances and get support when they need it. Some pay you cash advances based on money you earn, offer loans without interest, rewards for using the app, and so on. Finally, you can use these applications for planning, budgeting and many other things.

CRB is an acronym for Credit Reference Bureau. The Credit bureau maintains the credit profiles of people so that lenders can check them when considering a loan application.

This credit data is shared by banks, microfinance institutions, and other loan financial institutions, and paints a detailed picture of one’s credit history usually expressed as a score between 501 to 850.

 It goes to show how well or poorly you have managed your loan collection in the past.

In Kenya, Loan Apps Without CRB (Credit Reference Bureau) gives borrowers credit without them going through the credit history checks from CRB. These apps provide quick solutions to individuals facing financial challenges due to bad credit records.

You can access this loan through a mobile app and the criteria include your transaction history, employment status, national ID, and other data. These apps offer a pathway to credit without stringent CRB checks.

So the good news is that not every lender chooses to check your details on CRB before granting a loan.

In this article, we examine some loan apps that do not check CRB status during loan approval

10 Loan Apps Without CRB Check

10 loan apps in Kenya that do not check CRB status, include:

1. Okash

OneSpot Technology Investment Ltd. provides an app called Okash for loan applications. Borrowers must meet the eligibility criteria which are outlined in the Okash loan app.

OKash loans are available to anyone between 21-55 years of age, with a fixed income and a cellphone number. The interest rate on Okash loans ranges from 14% – 16% at 91 to 92 days of repayment. The loan limits range from Ksh. 2,500 to Ksh. 50,000. 

Due to their interest rates being deducted before disbursement, borrowers usually end up with less than they had originally applied for. 

2. Opesa

TK Limited provides the Opesa loan app. Opesa decides whether a loan needs to be approved based on a borrower’s phone data – e.g. handset details. They also consider MPESA/Mshwari finance transactions, and why they want the loan.

The interest rates on Opesa loans vary from 14% to 16%, with a repayment duration of  91 or 92 days. Opesa is another online loan app that deducts interest in advance

3. M-Fanisi

Maisha Microfinance Bank offers the M-Fanisi loan service. Applicants must be 18 years of age or older and have an active M-PESA account transaction record.

M-Fanisi loans range from Ksh. 200 to Ksh. 25,000 at a 10% interest rate repayable within 30 days. The M-Fanisi loan USSD code is *281# for Safaricom subscribers or *222# for Airtel subscribers.

4. Tala

Tala Mobile is the developer of the Tala loan app. They typically approve loans based on the phone data of customers, such as the financial transactions from M-PESA as well as the answers provided while applying.

The interest rate on Tala loans varies between 5% to 15% depending on the repayment period of 21 or 30 days. The loans range from Ksh. 500 to Ksh. 30,000. Tala loans can be accessed by downloading the Tala loan app from the Google Play store.

5. Mokash

Mocash offers a loan product called Mokash. They offer loans of between Ksh. 1,000 to Ksh. 30,000 for 8 days. The Mokash loan app can be downloaded from the Google Play store.

6. Branch

The branch loan app can provide you with loans ranging from KES 250 to KES 70,000 without a CRB check. 

You can apply 24/7 despite your needs. As you apply and repay, your loan limit goes up. Also, know that the interest rate can be as high as 17% to 30%.

7. Timiza

Timiza is one of the easiest and most convenient loan apps in Kenya without CRB. They are popular and many borrowers have successfully collected loans from them seamlessly.

8. Shika

If you need a genuine, easy, and convenient loan app, choose Shika. You can get up to Ksh. 70,000 with a 7.29 interest rate. This app stands out as one of the trusted apps in Kenya.

9. Mshwari loans

Mshwari started in 2014 and offers its leading services through M-Pesa, in partnership with the Commercial Bank of Africa (CBA). Customers can apply for loans of Ksh 100 to an unknown highest limit. It has a repayment duration of one month with an interest rate of 7.5%. 

Conclusively, Mshwari requires you to become a Safaricom subscriber and have a registered M-Pesa line to qualify. 

10. KCB M-Pesa 

This loan app has built a name in Kenya. It offers quick loans and gives a minimum of Ksh 500 and a maximum of Ksh 1,000,000 to its customers. 

KCB M-Pesa was born from the partnership between M-Pesa and Kenya Commercial Bank. However, for one to qualify, you need to be an active Safaricom M-Pesa customer.

Interesting Read: How to start a micro loan business.

Other mobile loan apps without CRB checks include:

• Tunzi Loan app (formerly Utunzi loan app)
• Fadhili Loan app
• Usawa Loan app
• Kano Loan App
• Upazi loan app
• Dolax loan app
• Craft loan app
• Utajiri loan app.

Benefits of Loans Without CRB Check

Loans without CRB checks offer numerous benefits, especially for borrowers with less-than-perfect credit histories. Here are the major advantages:

• Accessibility 
• Inclusivity
• Empowerment 
• Opportunity for improvement 
• Emergency funding 
• Simplicity 
• Speed and convenience 

How to Choose the Right Loan App Without a CRB Check

Choosing the right loan app without a CRB check involves a lot and they include:

• Understanding your needs and how the loan app without CRB checks aligns with your needs
• Look out for the security and privacy of the loan app
• Check their interest rates on all loans, especially their personal and emergency loan
• Read user reviews and experiences online 
• Check out for their other additional fees
• Check their market reputation and trust
• Rate their accessibility and ease of use without worry
• Look for an app with multiple channels of customer support

Some extra fees for loan apps without CRB check

1. Registration fees
2. Appraisal fees or processing fees.

Conclusion 

Normally, a borrower will be screened by a Credit Reference Bureau (CRB), as they interact with various lenders before a lending decision is made.

This is a criterion for loan disbursement. Despite this, some lenders do not use this information. They only access the information provided by the borrower and the data accumulated on the phone. 

Frequently Asked Questions

Are there any loan apps for blacklisted people?

Recently in Kenya, there are loan apps for blacklisted people but they ask for registration fees before giving you any loan. If you are comfortable with paying a registration fee to a loan app before collecting the loan, then check out these loan apps in Kenya.

However, you need also to know that you can pay this registration fee and still not collect the loan. Also, most of them give a loan that is less than the registration fee you paid or just slightly higher than it.

We are not recommending this application but you can try them out. So it is best you build your credit and apply for a loan. 

Some of these loan apps are:

• Opesa loan app
• Ubapesa loan app
• Lion Cash loan app
• Kuwazo loan app
• CashNow loan app
• Pesa Pats loan app
• Aspira loan app
• Pezesha loan app

How can I clear my CRB without paying?

There’s no other way to clear your name from CRB without paying. Once the loan agency has reported you, create a strategy and start paying off your loans immediately to avoid further bad reputation

How do I remove my name from the CRB blacklist?

To remove your name from the CRB blacklist, check your credit bureau report and see all your loan defaults and get up to date immediately with your debts. If the debts are much, negotiate with the financial institutions involved and seek to restructure your debt or pay little by little. 

After payment, request for your clearance certificate/letter.

How Much is the CRB clearance fee?

Kshs. 2200 is the CRB clearance fee or processing fee for a Clearance Certificate. 

It is not fine to clear your name on CRB but the amount charged for processing the clearance certificate is.

Can loan apps put you on CRB?

Loan apps can’t directly put your name on the CRB list but they can forward your name to the CRBs operating in Kenya under regulation and the CRB will now directly blacklist your name after going through the due process.

These loan apps usually give defaulters a grace period of 30 days’ notice before forwarding their name.

We will review the best loan apps in Kenya in 2024. The rise of Fintech companies in Kenya has changed the face of lending among industry operators. More people would opt for loans from the comfort of their homes as opposed to the traditional methods of other lending institutions. 

Kenyans are becoming more addicted to instant loans that require no collateral. There are over 20 loan apps in Kenya for credible instant loans, however, here is a list of our top 5

What are loan apps?

Loan apps are mobile application software built by financial lenders for their customers for easy access to funds. Loan applications come in handy. Customers install it on their mobile phones for quick loan applications. Different loan platforms have a unique loan app peculiar to them alone.

Top 5 loan apps in Kenya 2024

Google Play Store hosts many applications that offer loans. However, we have good apps that offer immediate loans. We will bring five (5) of the best apps and discuss them.

Below is a summarized list of the best 5 loan apps in Kenya 2021. They are:

1. KCB M-Pesa
2. Tala loan
3. Branch loan app
4. Mshwari loan app
5. Saida loan app

1. KCB M-Pesa 

This loan app has built a name in Kenya. It offers quick loans and gives a minimum of Ksh 500 and a maximum of Ksh 1,000,000 to its customers. KCB M-Pesa was born from the partnership between M-Pesa and Kenya Commercial Bank. However, for one to qualify, you need to be an active Safaricom M-Pesa customer for at least 6 months.

Features of the KCB M-Pesa App

1. KCB M-Pesa has more than 1 million downloads on the Play Store.
2. It has 36,182 reviews on Play Store 
3. 4.2 /5 ratings on Google Play Store 
4. It has 9.1MB Memory capacity 
5. The application is easy to operate 
6. A well-designed view spelling out all functions of its products 
7. It has a unique and catchy colour 

2. Tala loans

Tala loan was the first mobile application launched as Mkopo Rahisi, but currently known as Tala. It is a trusted loan app that has gained trust over the years. Customers get a minimum of Ksh 500 and a maximum of Ksh 50,000 with an interest rate of 15%. In addition,  to be qualified,  the Tala app needs you to have a smartphone with a good M-Pesa history.

Features of Tala loan app

1. Quick communication to the server for easy operation and dispense of funds
2. Ability to secure data and other personal information 
3. More than 5 million downloads on Google Play store
4. A star rating of 4.5
5. Has 405,478 reviews on the Google Play Store
6. Requires Android version of 4.03+
7. A nice colour combination that is dim and doesn’t affect the eye.

3. Branch loan 

Branch Loan is a financial institution in San Francisco with a branch office in Nairobi,  Kenya. It started in 2017. Customers access loans from Ksh 1000 to an unknown maximum amount. More so, for one to qualify,  you need to have a Facebook account with the same name as the one on your national ID card. You also need to be a registered M-Pesa user. Interest rates vary and depend on the amount and repayment duration. 

Features of Branch loan app

1. The branch loan app has 321,038 reviews on the Google Play Store
2. The app is easy to operate and navigate through
3. Has more than 10 million downloads on Play Store
4. 4.3 star ratings, which is good.
5. An intuitive design for improved borrowing experience 
6. Showcases loan offer available to its customers 
7. Amazing view and different repayment options you can choose from.

4. Mshwari loans

Mshwari started in 2014 and offers its leading services through M-Pesa, in partnership with the Commercial Bank of Africa (CBA). Customers can apply for loans of Ksh 100 to an unknown highest limit. It has a repayment duration of one month with an interest rate of 7.5%. Conclusively, Mshwari requires you to become a Safaricom subscriber and have a registered M-Pesa line to qualify. 

Features of Mshwari loan app

1. Easy to use and navigate through.
2. Fast in loading 
3. Reads phone data and keeps all data or information safe.
4. Displays available loan limit 

5. Saida loan 

To qualify for the Saida loan, customers need an active M-Pesa/Airtel money account. Once you install the app on your phone and you apply for a loan, the app reads and tracks all your call activities. They also track all your transactions to know if you can pay back the loan.

Features of the Saida app

1. 3.6 star ratings and 10,184 reviews on Play Store 
2. 500k downloads on Google Play Store 
3. 5.9MB memory capacity 
4. Easy to use and loan applications don’t take too long to get to the server.
5. Offer other products, which are also easy to access.

How do I apply for a loan on any of the best 5 loan apps in Kenya 2024

The procedure for applying for a loan on any of the applications is basically the same in Kenya. Follow the steps below:

1. Download the mobile application from their official website and Google Play Store. They host no app in Kenya on IOS for now except Zenka.
2. After installing the application, launch it. Then register or create an account.  Supply all necessary information. Also, note that registration procedure differs from one application to another. 
3. Based on the information supplied and the app reading your phone transactions, it determines your loan limit.
4. Proceed to apply for the loan on the app. Choose or input your loan amount. Note: often, some loan application determines your loan amount and you can not access more than the displayed amount.

Important information you need to note before using a loan app for loan application 

There are details you need to note before loan application.  They are:

1. The terms and conditions of the loan.
2. The minimum and maximum amount of loan you qualify for
3. The loan requirements and qualifications 
4. Loan term or period 
5. Repayment mode and duration
6. Interest rates. 
7. Additional fees and other secret fees

How do I repay a loan on any of the best 5 loan apps in Kenya 2024

Loan repayment on any of the listed loan applications discussed in this article vary from lender to lender. But there are generic ways of loan repayments in Kenya. They are:

1. Launching your M-Pesa account 
2. Choosing paybill option
3. Entering your paybill number 
4. Choosing your phone number as your account number 
5. Entering the loan amount 
6. Inputting your M-Pesa pin
7. Cross checking all details to make sure they are correct 
8. Pressing Ok 
9. Getting a confirmation or successful loan repayment message. 

Conclusion 

In a bid to ensure professionalism among digital lenders, the Central Bank of Kenya is moving to propose new laws to regulate activities of digital lenders. These loan apps have their advantages and disadvantages. However, some of them have gained enough goodwill in Kenya and you can always rely on them whenever you need funds. 

What is more exciting is getting a loan within 24hours or just a few minutes after application without delay, considering the turn of recent events and other policies affected the economy. Loan apps in Kenya have really come in handy.

You can access quick and instant loans through loan apps without security. While there are many disadvantages to loan apps, we advise borrowers not to get defrauded by dubious apps. Aside from this, loan apps are really helpful. It is used to access quick loans in the comfort of your homes.

Kenya has over 25 loan apps. We will run a quick review and examine some of the best loan apps that disburse directly to your M-Pesa account.

Lists of Loan Apps in Kenya

Getting a quick loan through loan apps is now workable and accessible. The lists of the loan apps are:

Tala loan app

It is among the best loan apps and available in Google play store. Once you download it, you can start your application by signing up.

Also, by answering a few personal questions, you get your account verified. In addition, they send your cash directly to your M-Pesa account. Ksh 500 to ksh 50,000 is the minimum and maximum loan limit.

The Interest rate is 15%. Weekly repayment option on the app for three weeks through the paybill number 851900. Loan defaulters are not eligible to access future loans.

Remarkable features of Tala loan app are:

1. Simple design with easy application.
2. No unneeded advert popping up during usage.
3. There is an individual security pin to ensure proper protection.
4. it reads and tracks your credit history with the app’s status.
5. Easy repayment and options to choose repayment terms

CBA loop loan app

We can’t forget the remarkable CBA loop loan app. Use the CBA loop loan app for 3 months to explore other features of the app before you can qualify for a loan.

Download the app from their website at. Use your phone number and a valid ID to create an account. They will send a pin to you to activate your account after the loan application. No minimum amount to access, you can take up to a loan of ksh 3 million on the app.

Features of the app are:

1. Size of the app is 11.46mb in which customers using limited memory phones can still download and use.
2. It is easy to use and navigate
3. A schedule on the app gives you a future repayment date and amount with a clear insight on the principal and the interest charges.
4. A repayment period of 6-36months
5. It offers other products on the app like sending money, making payments, investment and savings.

Branch loan app

To use this beautiful app, you need to be a registered M-Pesa user. You need an official Facebook account with a profile and username matching those on your National ID card. In addition, download the loan app on Google play store. Sign up, link the app to your Facebook account, provide details, and verify your phone number and account.

Finally, the minimum limit of loan on branch app is ksh 250 and maximum is ksh 70,000. Interest rate depends on repayment of weekly installments on time. It increases the credit score and decreases the interest rates.

Features of the app are:

1. It is easy to navigate and run through
2. The app design is simple and eye-catching.
3. For proper identification, you link the app to your Facebook account before usage.

Timiza loan app

Timiza is one of the best loan apps in Kenya. They opened it for everyone with a mobile phone. Deposit money into Timiza app from your M-Pesa mobile money.

It is then you qualify your chances of getting a loan. 1.083% is the interest, and 5% is the facilitation fee. You need to also be an M-Pesa user for 6 months. It is within a term of 30 days.

Features of the app are:

1. Creating an account is straightforward.
2. The app is smooth to be used to access other products. 
3. There is an easy loan application on the app.

Okash loan app

The loan app gives both individual business loans. Just download the app on google play store, install and create an account.

A maximum limit of Ksh. 60,000  loans. The interest rate is slightly higher at 14%. Customers have 15 days to clear loans.

Features of the app are:

1. It is easy to download
2. Scrolling through the app is easy.
3. Through the personal details you provided on the app, it determines your credit limit.

iPesa loan app

It is a loan app that offers loans between a minimum of ksh 500 to ksh 50,000. The repayment period is between 91 days and 180 days.

Interest rate is between 0 to 6%. It has a variable service fee of 5% to 10%. Before you can use the app, you need to be at least 18years.

Features of iPesa loan app are:

1. Loan application is easy.
2. The loan app privacy permission is superb. They encrypt personal data supplied on the loan app.
3. To ensure proper documentation, it uses the data on your phone to verify your identity.

Zenka Loan app

Zenka loan app is accessible and reliable. You can download it on google play store. The first loan in this app is interest free.

Zenka finance promises a loan between a minimum of ksh 500 to a maximum of ksh 30,000. It is payable within 61 days. However, the 61 day repayment terms have a processing fee of 9% to 30%. Processing fee is from ksh 45 to ksh 870.

Features of the loan app:

1. The app is transparent with the fees it charges.
2. It is colorful and easy to operate.
3. It is easy to use.

Mshwari loan app

Mshwari is one of the best loan apps with minimum requirements. They render it through M-Pesa. By increasing your saving amount in your account and repaying your first amount borrowed, you can then be qualified to take a higher loan.

In addition, you must be a Safaricom subscriber before you can use the app. Minimum amount is Ksh 100, and we do not know the maximum. It has an interest rate of 7.5%. Repayment terms are 30 days.

Features of the app include:

1. It is easy to operate, use, and navigate.
2. The functionality of the app is good, as it gathers information from your M-Pesa history. 
3. No unnecessary adverts popping up while using the app.

KCB M-Pesa

In this app, it is easy to borrow without saving. Be active on Safaricom for 6 months. They disburse loans through KCB M-Pesa app Menu on your phone.

Moreso, Ksh 50 and Ksh 1,000,000 are the minimum and maximum. Interest rate is at 1.16% every month. Negotiation fee of 2.5%. 

Berry loan app

It is a unique and flexible mobile money lending app which offers low-cost loans in Kenya. First, download the app from Google Play. Install and register on the loan app.

You need to get verified to access loans. The minimum loan is Ksh. 500 and with time, it rises to Ksh. 50,000. The service fee is 9%-16% of the principal amount. 

Features of the app are:

1. Easy to download, set up and log in.
2. The app has flexible repayment schedules, which are easily accessible. 
3. The repayment procedure is painless.

How to get a loan through a loan app

The above loan apps listed have requirements which allow you to apply for loans.

To access an instant loan in Kenya, meet the following requirements:

1. You must be above 18years to access any loan through an app.
2. To access mobile lending, possess a registered line on your mobile phone.
3. No low credit profile (or blacklisted on CRB). 

Conclusion 

Mobile loan apps are really making headway. You can access an instant loan within a few minutes. Need a loan to clear your debts, go through the lists and make a choice.

You can stay in your comfort zone and apply for an instant loan using your mobile phone. Be smart enough to check out our website for your loan comparisons. Comprehend the information and explore your choice.

There are so many flexible loan repayment apps in Kenya, one wouldn’t know where to start especially if they are a newbie in the industry. The idea of going through all these flexible repayment apps is to educate you further. I have brought together 5 best flexible loan repayment apps in Kenya that you should use if you want to enjoy a stress-free repayment experience.

Understanding flexible loan repayment application 

Financing is key to any business, and it is an area of importance. They have developed many apps to allow users to choose the comfortable time to repay their loan. People have been enjoying this feature while taking loans from different apps in Kenya. 

Kenya is a competitive country. Businesses compete fiercely to gain dominance especially in industries like mobile money, online commerce and banking. In the wake of this intense competition, banks and loan companies have had to ensure that they stay ahead of their competitors since customers are becoming more fickle now. This was among the thoughts that led to the creation of these flexible loan repayment options. The platform has seen a lot of success since it came into existence. This has saved many by helping them choose when to make repayment and how to repay.

What are flexible loans

Flexible loans are loans that give you the power to choose your own repayment due date. This feature helps you select dates between 10 and 40 days to repay. They designed this flexibility to make it easier for you to repay early, increase your credit score and unlock more repayment features.

Read- Kenya School of Credit Management

5 Flexible loan repayment application 

We have many flexible loan repayment apps in Kenya but we will list 6 out of them. They include:

1. Tala loan app
2. Branch loan app
3. Zenka loan app
4. Timiza loan app
5. M-shwari loan app

Benefits of applying for flexible loans in Kenya 

1. Allows you pay at your own pace
2. Helps you grow your a lot
3. Helps you improve your loan duration with good credit scores
4. Helps you avoid late payment

Conclusion 

When many people get a loan from a financial institution, their repayments are limited to once or twice a month. But there are apps in Kenya that make it easier to pay your loan, even if you’re paid weekly. You can even choose to pay it biweekly. 

Unexpected issues which do not have emergency savings cover could derail your carefully laid spending plans. If you aren’t able to cater for the expense, you will have to resort to loans. Loans come with an interest rate and an agreed repayment date. There are many apps that can loan you money in Kenya. 

Let us take a closer look at these apps and help you stretch your funds farther.

5 Apps that Loan You Money 

Millions of Kenyans live on loans and may need an option when their cash flow is tight. These apps help you solve your short-term liquidity issues. To be able to have money options, let us discuss 5 apps that loan you money. They are:

KCB M-Pesa app that can loan you money

This loan app has built a name in Kenya. It offers quick loans and gives a minimum of Ksh 500 and a maximum of Ksh 1,000,000 to its customers. KCB M-Pesa was born from the partnership between M-Pesa and Kenya commercial bank. However, for one to qualify, you need to be an active Safaricom M-Pesa customer for at least 6 months.

Features of KCB M-Pesa App

1. KCB M-Pesa has more than 1million downloads on play store.
2. It has 36,182 reviews on play store 
3. 4.2 /5 ratings on Google play store 
4. Has 9.1MB Memory capacity 
5. The application is easy to operate 
6. A well-designed view clearly spelling out all functions of its products 
7. Has a unique and catchy colour 

Tala loans

Tala loan was the first mobile application launched as Mkopo Rahisi, but currently known as Tala. It is a trusted loan app that has gained trust over the years. Customers get a minimum of Ksh 500 and a maximum of Ksh 50,000 with an interest rate of 15%. In addition,  to be qualified,  the Tala app needs you to have a smartphone with a good M-Pesa history.

Features of Tala loan app

1. Quick communication to the server for easy operation and dispense of funds
2. Ability to secure data and other personal information 
3. More than 5million downloads on Google play store
4. A star rating of 4.5
5. Has 405,478 review on Google play store
6. Requires android version of 4.03+
7. Nice colour combination that is dim and doesn’t affect the eye.

Branch loan 

Branch loan is a financial institution in San Francisco with a branch office in Nairobi, Kenya. It started in 2017. Customers access loans from Ksh 1000 to an unknown maximum amount. More so, for one to qualify, you need to have a Facebook account with the same name as the one on your national ID card. You also need to be a registered M-Pesa user. Interest rates vary and depend on the amount and repayment duration. 

Features of branch loan app

1. Branch loan app has 321,038 reviews on Google play store
2. The app is easy to operate and navigate through
3. Has more than 10million downloads on play store
4. 4.3 star ratings, which is good.
5. An intuitive design for improved borrowing experience 
6. Showcases loan offer available to its customers 
7. Amazing view and different repayment options you can choose from.

Mshwari loans

Mshwari started in 2014 and offers its leading services through M-Pesa , in partnership with Commercial Bank of Africa (CBA). Customers can apply for loans of Ksh 100 to an unknown highest limit. It has a repayment duration of one month with an interest rate of 7.5%. Conclusively, Mshwari requires you become a Safaricom subscriber and have a registered M-Pesa line to qualify. 

Features of Mshwari loan app

1. Easy to use and navigate through.
2. Fast in loading 
3. Reads phone data and keeps all data or information collected safe.
4. Displays available loan limit 

Saida app that can loan loan you money

To qualify for Saida loan, customers need an active M-Pesa/Airtel money account. Once you install the app on your phone and you apply for a loan, the app reads and tracks all your call activities. They also track all your transactions to know if you can pay back the loan.

Features of Saida app

1. 3.6 star ratings and 10,184 reviews on play store 
2. 500k downloads on Google play store 
3. 5.9MB memory capacity 
4. Easy to use and loan applications don’t take too long to get to the server.
5. Offer other products, which are also easy to access.

Conclusion 

Apps that loan you money in Kenya are a league of their own. They have proven to be a lifesaver to citizens of Kenya. It allows them to cover urgent expenses. What is greater about some of these apps that loan your money is that you do not have to worry about too much interest rate. Some fees are waived off and duration extended. Hope you found the content interesting?