The best instant mobile loan apps in Kenya, 2023

This is an updated list of the best instant mobile loan apps in Kenya.  Almost everyone on the Safaricom network who had an active MPESA account had access to the service since it needed no prior installations of any kind.

It is now easy to apply for an emergency or unsecured instant loan in Kenya from the comfort of your mobile phone. All you have to do is to own a registered SIM card linked to your MPesa account. There are a number of best mobile loan apps in Kenya that offer instant loans with low-interest rates and flexible repayment plans.

These apps will not interfere with your privacy or rush to blacklist you on CRB unless you are too adamant to pay after several reminders. You can borrow as little as 100 shillings to a limit depending on your transaction history and creditworthiness. You can access some of these loan apps on any phone through USSD codes.

Here are the best mobile loan apps in Kenya that offer unsecured instant loans without registration fees:

Below is a ranked list of the best mobile lending apps based on ratings, reviews and downloads available on the Google Playstore.

The parameters used are:
– Ratings of 3.9+
– Reviews of 6K+
– Downloads of 100K+
So in order for a lender to qualify for the list, they should meet ALL the above-mentioned parameters.

1. Tala

This is the most popular loan service released on Mar 16, 2014 provided by Tala Mobile. It currently has a 4.7 star rating with 346K+ reviews and 5M+ downloads.

They offer loan amounts ranging from KES 500 to KES 30,000 with flexible interest rates depending on the repayment duration. The interest rate fee charged for 21 days is 11% while for 30 days is 15%.



2. Branch

Branch was released on Mar 19, 2015 by Branch International. It currently has a 4.7 star rating with 186K+ reviews and 5M+ downloads.

Their loan amounts range is from KES 250 to KES 70,000 at interest rates of between 13% to 29%. They also offer a repayment period of 21 days and 30 days.

Timiza Loan App
Timiza Loan App

3. Timiza

Timiza loan service is offered by Barclays and was released on Mar 15, 2018. It has a 4.2 star rating with 10K+ reviews with 1M+ downloads.

It offers loan amounts from as little as KES 50 to a maximum of KES 150,000. Their interest rates are capped at 6.08% and repayment duration is usually 30 days.


4. Zenka

Zenka is a fairly new service but has managed to make it at number 4. It is offered by Zenka Finance and was released on Nov 13, 2018.

It holds a 4.2 star rating with 10K+ reviews and 500K+ downloads. It offers loan amounts ranging from KES 500 to KES 20,000.

It has an interest rate fee of 29% repayable after 30 days.

5. Okash

Okash was released on Feb 1, 2018 by OneSpot Technology Ltd. Since then it has garnered a 4.1 star rating with 45K review and 1M+ downloads.The least amount one can borrow is KES 2,500 while the highest is KES 50,000. It’s interest rates are dependent on the repayment period whereby the interest rate is 14% for 14 days ) and 16.8% for 21 days.


6. Opesa

Opesa was officially released on Dec 6, 2018 by TK Ltd. It currently sits on a 4.1 star rating with 14K reviews and 1M+ downloads. They offer loan amounts of between KES 2,000 to KES 10,000 at 16.8% fee with a repayable period is 14 days.

7. Okolea

It is a loan service offered by Okolea International released on Mar 22, 2017. It has a 3.9 star rating with 6K+ reviews and 100K+ downloads. Its loan range is between KES 500 to KES 50,000 at flexible interest rates dependent on repayment duration. I.e Interest rate is 5% ( 2 days ) , 8% ( 7 days ) , 11% ( 14 days ) , 13% ( 21 days ) and 15% ( 30 days )


8. KCB M-Pesa Loan

KCB bank in conjunction with Safaricom offers very affordable instant loans to active MPesa users. The loan can be accessed through the MPesa menu or by dialing *334# and selecting Loans and Savings. Upon your first registration, your initial loan limit will be based on your Mpesa usage and transactions. The loan ranges between Ksh. 1,000 to 1M and comes with a one-time facility charge of 8.85% payable within 30 days. The loan does not incur any transaction charges when you send it from the KCB Mpesa account to your MPesa wallet. What’s more, you can keep on topping up your KCB M-Pesa loan so long as you are still within your loan limit.


9. M-Shwari Loan

Mshwari is owned by the CBA bank. Mshwari has a feature where you can open an account through your phone and lock your savings to earn interest from 7% p.a. Mshwari charges an interest rate of 7.5% p.m. on your loan and you can borrow from Ksh. 100 to a maximum depending on your repayment history and saving ability.


10. Timiza Loan App

An app from ABSA Bank that brings mobile banking services into your hands. Timiza attracts a total charge of 7.283% per month (1.083% interest plus 5% facilitation fee and 20% excise duty). Read Also:   Best Web Hosting Companies in Kenya for Small Businesses You can borrow from Ksh. 50 to Ksh. 100,000 depending on your CRB score and credit history. Your loan limit rises very fast as you borrow and repay the loan in time.


11. Mco-opCash Loan

A product of the Cooperative Bank of Kenya that offers flexible 1 to 3 months instant loans to salaried employees. It also offers business loans of up to 6 months to business owners in Kenya. For salary advance loans, your salary should be passing through Cooperative Bank to qualify for the loan. McoopCash’s one-off interest rate of 8% for one, 10% for two months, 12% for 3 months, and an insurance fee of 0.034% p.m. These are deducted immediately from the loan before it is disbursed into your MCoop Cash mobile account.

12. Branch Loan App

You can access up to Ksh. 70,000 on this international mobile loan app. You will not incur late charges or rollover fees with the Branch mobile loan app. Interest rates for this platform are 14.57% for Ksh. 500, which gets lower with higher loan amounts.

13. Tala Loan App

Tala has a flexible payment period of 21 days to 61 days. Tala interest rates range from 7% to 19% for a 30-day loan and 5% to 14% for a 21-day loan. You can easily qualify for an instant loan by answering basic questions about your financial status. Once the loan is approved, it is sent directly to your MPesa account.

14. Zenka Loan App

Zenka is one of the best mobile loan apps in Kenya that allows you to apply for a 61-day instant loan at a one-time processing fee of 9 to 30%. Zenka has a zero-interest offer to first-time users of the app. Your loan limit can vary from Ksh. 500 to Ksh. 30,000. The Zenka Flexi option allows those with good credit and payment histories an option to repay their loans for up to 12 months. Read Also:   Okash Loan App, Loan Application, Repayment, Interest Rates

15. Eazzy Loan

This is an Equity bank product that enables customers to get access to Equity bank mobile loans at interest rates between 2% and 10%. You can borrow from 100 shillings to 200, 000 shillings for a period of 30 days. Eazzy Plus gives you access to a maximum of Ksh. 3,000,000 payable up to 12 months.

16. Berry Loan App

Berry loan app charges interest rates between 8% to 15%. You can borrow from Ksh 500 to 50,000 depending on your transaction history and payment records. It has zero processing fee and you can pay the loan in 91 days or 180 days.

17. Stawika Loan App

Stawika loan app services. Offers quick emergency loans, to those who qualify, a few minutes after installing the app. Stawika charges an interest rate between 7% to 21% and has no processing fee. You can borrow from as little as Ksh. 500 up to Ksh. 70,000 on the app.

18. Okash Loan

App Starters can borrow between Ksh 1,500 to Ksh 50,000 with a chance to grow their loan capability up to a maximum limit of Ksh. 500,000 as their credit score grows. Okash has a maximum loan interest of 24% p.a. The interest rate depends on the loan duration. A two weeks repayment plan carries an interest of 14% while a duration of 21 days charges a 16.8% interest rate.

19. HF Whizz

A product of the Housing Finance Corporation Bank available for both Android and iOS users.

See Also List of KCB Bank Branches in Kenya and Their Contacts You can borrow from sh 1,000 to 50,000 at a rate of 7.725% payable in 30 days.


KCB M-Pesa Loan
KCB M-Pesa Loan

20. KCB Mobile Loan

This is different from KCB MPesa loans in that it is available to KCB customers. To qualify for KCB MPesa loan, you should have a KCB account and be registered for mobile banking.

Your KCB account should be active for at least 6 months and with at least 4 deposits within this period.

21. UbaPesa Loan App

UbaPesa Loan App
UbaPesa Loan App

Ubapesa is a peer-to-peer mobile loan app that connects lenders and borrowers. This means you either lend and earn interest or borrow.

With this app, you also get to know your Credit Score Rating which is displayed on the screen. The facilitation fee starts from 8% and 14% which increases depending on the payment period (usually between a day to 30 days). You can borrow from Ksh 500 up to Ksh 70,000.

The money is credited to your Mpesa instantly with the facilitation fee already deducted.

22. Hela Pesa

Hela Pesa
Hela Pesa

Hela Pesa gives you access to emergency personal loans from Ksh. 500 up to Ksh. 200,000. The loan is repayable within 3 to 24 months.

The amount borrowed attracts an interest rate ranging from 2% to 15% depending on the risk profile of the customer.

Hela Pesa also offers salary advance loans to salaried individuals. Your loan limit on Hela Pesa depends on your credit history and ability to repay the loan.

23. Zidisha Loan App

Zidisha Loan App
Zidisha Loan App

Zidisha is an international peer-to-peer online microlending community that directly connects lenders and entrepreneurs in need of financial support.

You can access Zidisha loans on their Android app or through their website. The app is open to anyone with a national ID and a source of income to repay the loan as scheduled.

Zidisha charges a service fee of 5% and a credit risk between 5% and 30% which covers the lenders in case of defaults. You can grow your credit history on Zidisha and borrow up to 10,000 US Dollars.

24. Utunzi Loan App

Utunzi Loan App
Utunzi Loan App

Gives instant loans between Ksh. 500 up to Ksh. 1 million. The minimum repayment period is 91 days and the maximum loan term is 5 months.

Utunzi charges an interest rate of 12% and an account management fee of Ksh. 400 payable annually. The loan is repayable within 30 days and attracts a total charge of 7.13%.

Other top mobile loan apps that are reliable for instant loans include NCBA Loop, Letshego, Hustler Fund, and PesaPap from Family Bank.



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