15 Loans Without Security In Kenya Today

In Kenya, there are several loans without security options available for individuals who need quick access to funds. One such option is an unsecured loan, which does not require the borrower to put up any collateral to secure the loan.

In this article, we will discuss 15 loans without security in Kenya that are available today.

1. M-Shwari Loan

M-Shwari is a mobile-based banking service that is offered by Safaricom in partnership with the Commercial Bank of Africa (CBA). The service offers unsecured loans to registered users of M-Pesa, Safaricom’s mobile money transfer service.

To qualify for the loan, you must have been a registered user of M-Pesa for at least six months and have a good credit history.

The loan amount ranges from Ksh 100 to Ksh 50,000, with an interest rate of 7.5% per month.

2. Tala Loan

Tala is a mobile-based lending platform that offers unsecured loans to Kenyans. The loan amount ranges from Ksh 500 to Ksh 50,000, with a repayment period of 21 days to six months.

To qualify for the loan, you must be over 18 years old, have a valid national ID, and have a good credit history. The interest rates range from 7% to 15%.

3. Branch Loan

The branch is a mobile-based lending platform that offers loans without security to Kenyans. The loan amount ranges from Ksh 250 to Ksh 70,000, with a repayment period of four weeks to 12 months. To qualify for the loan, you must be over 18 years old, have a valid national ID, and have a good credit history. The interest rates range from 10% to 27%.

4. Zenka Loan

Zenka is a mobile-based lending platform that offers loans without security to Kenyans. The loan amount ranges from Ksh 500 to Ksh 30,000, with a repayment period of one day to 30 days. To qualify for the loan, you must be over 18 years old, have a valid national ID, and a good credit history. The interest rates range from 11% to 31%.

5. Stawika Loan

Stawika is a mobile-based lending platform that offers unsecured loans to Kenyans. The loan amount ranges from Ksh 500 to Ksh 30,000, with a repayment period of one day to 30 days. To qualify for the loan, you must be over 18 years old, have a valid national ID, and a good credit history. The interest rates range from 10% to 15%.

6. Okolea Loan

Okolea is a mobile-based lending platform that offers loans without security to Kenyans. The loan amount ranges from Ksh 500 to Ksh 10,000, with a repayment period of one day to 30 days. To qualify for the loan, you must be over 18 years old, have a valid national ID, and have a good credit history. The interest rates range from 5% to 10%.

7. Haraka Loan

Haraka is a mobile-based lending platform that offers unsecured loans to Kenyans. The loan amount ranges from Ksh 500 to Ksh 10,000, with a repayment period of seven days to 30 days. To qualify for the loan, you must be over 18 years old, have a valid national ID, and have a good credit history. The interest rates range from 23% to 29%.

8. Saida Loan

Saida is a mobile-based lending platform that offers loans without security to Kenyans. The loan amount ranges from Ksh 600 to Ksh 30,000, with a repayment period of one month to three months. To qualify for the loan, you must be over 18 years old, have a valid national ID, and have a good credit history. The interest rates range from 7.5% to 15%.

9. PesaZone Loan

PesaZone is a mobile-based lending platform that offers unsecured loans to Kenyans. The loan amount ranges from Ksh 500 to Ksh 50,000, with a repayment period of seven days to six months. To qualify for the loan, you must be over 18 years old, have a valid national ID, and have a good credit history. The interest rates range from 10% to 30%.

10. HF Whizz Loan

HF Whizz is a mobile-based lending platform that offers unsecured loans to Kenyans. The loan amount ranges from Ksh 1,000 to Ksh 50,000, with a repayment period of one month to six months.

To qualify for the loan, you must be over 18 years old, have a valid national ID, and have a good credit history. The interest rates range from 7.725% to 10%.

11. KCB M-Pesa Loan

KCB M-Pesa is a mobile-based banking service that is offered by KCB Bank in partnership with Safaricom. The service offers unsecured loans to registered users of M-Pesa. To qualify for the loan, you must have been a registered user of M-Pesa for at least six months and have a good credit history. The loan amount ranges from Ksh 50 to Ksh 1 million, with an interest rate of 6% per month.

12. Fuliza Loan

Fuliza is a service offered by Safaricom that allows M-Pesa users to complete transactions even when they do not have sufficient funds in their M-Pesa accounts.

The service offers a loan of up to Ksh 50,000, with a repayment period of up to 30 days. To qualify for the loan, you must be a registered user of M-Pesa and have a good credit history. The interest rate is 1.083% per day.

13. Timiza Loan

Timiza is a mobile-based banking service that is offered by Barclays Bank of Kenya. The service offers unsecured loans to registered users of Timiza. To qualify for the loan, you must have been a registered user of Timiza for at least six months and have a good credit history. The loan amount ranges from Ksh 50 to Ksh 150,000, with an interest rate of 6.17% per month.

14. PesaPap Loan

PesaPap is a mobile-based lending platform that offers unsecured loans to Kenyans. The loan amount ranges from Ksh 500 to Ksh 50,000, with a repayment period of one month to 12 months. To qualify for the loan, you must be over 18 years old, have a valid national ID, and have a good credit history. The interest rates range from 10% to 15%.

15. Zidisha Loan

Zidisha is a peer-to-peer lending platform that connects borrowers in Kenya with lenders from around the world. The loan amount ranges from Ksh 5,000 to Ksh 100,000, with a repayment period of one month to 12 months.

To qualify for the loan, you must have a good credit history and be able to demonstrate that you have a viable business plan. The interest rates range from 5% to 15%.

In conclusion, there are several loan options available in Kenya for individuals who need quick access to funds. Unsecured loans while these loans may come with higher interest rates compared to secured loans, they provide a quick solution for individuals who may not have the collateral to secure a loan.

However, it is important to carefully evaluate your financial situation before taking out any loan and ensure that you have the ability to repay the loan within the specified period to avoid incurring additional charges and negatively impacting your credit history.

Additionally, it is important to be aware of the terms and conditions of any loan you take out, including the interest rates, repayment period, and any additional charges that may be incurred. Some lenders may also have hidden fees, so it is important to read and understand the terms and conditions carefully before signing up for any loan.

Finally, it is important to maintain a good credit history by making timely repayments on your loans, as this will increase your chances of being approved for loans in the future and also ensure that you are able to access better loan terms and interest rates.