Top 11 Best Mobile Loan App in Kenya for Android, iOS devices

This context will take you through the best mobile loan app in Kenyans. Customers who feel constrained financially can take the help of these loan apps and repay anytime at their convenience.

1. iPesa Loan

iPesa loan app is the number one reliable and secured application that grants its applicants a personal loan. The application makes getting a loan as simple as ABC, offering you to create a credit account, encrypt the data, and protect the privacy of the holder in the most official way.

The longest tenor is 180 days and the shortest tenor is 91 days.

The interest rate of iPesa Loan app is charged at a rate of fifteen percent.

The mobile loan app limit of the iPesa loan app ranges from a minimum value of Ksh2000 to a maximum value of Ksh10,000.

2. Timiza loan app

With the all-new Timiza loan app, you can do banking without having to spend hours even at your nearest bank branch. Tap a few tabs and open an account at the Timiza loan app and enjoy unlimited money transfer

The interest rate of the Timiza loan app is charged at 1.083 percent with a five percent facilitation fee.

The mobile loan app limit of the Timiza loan app ranges from Ksh50 to a maximum value of Ksh100,000. However, you can stretch your limit by enhancing your activity on the app. All you have to do is be an M-Pesa subscriber and use other Safaricom services to apply for a loan.

3. Zenka loan app

The fastest loan-paying service- the Zenka loan app, is the best news for Kenyans. Zenka offers flexibility to Kenyans, giving them the opportunity to gain access to their finance’s unique qualities with just a tap.

The maximum annual percentage rate charged by the Zenka loan app is 75%. The users are required to a processing fee that is 30% of the principal amount. The processing fee ranges from Ksh45 to a maximum of Ksh870.

The loan limit of the Zenka loan app ranges from Ksh500 to Ksh30000.

To access the online M-Pesa loan from Zenka App:

  • Download the Zenka app from the google play store or the Zenka Website
  • Register your account and fill in the application form with the amounts you need to borrow.
  • Once you have submitted your application, they will review it, and once approved; they will send the money to your M-Pesa.
  • You can withdraw the money from an M-Pesa agent near you.
  • Repay your loan on time to increase your loan limit.

4. Opesa loan app

With the Opesa loan app, Kenyans can reliably apply for loan amounts anywhere and anytime. The Opesa loan app is a product of Tenspot Kenya.

The Opesa loan app charges a service fee that ranges from Ksh100 to Ksh600 for a period of 91 days. This stands for a service fee of 8.9% that the applicant has to pay at the end of 91 days.

The loan limit of the Opesa loan app ranges from a minimum value of Ksh2000 to a maximum value of Ksh30000.

The maximum APR (Annual percentage rate) charged by the Opesa loan app is 36%.

5. Utunzi loan app

Utunzi loan app is the best and the most convenient loan app that is loved by most Kenyans. The best part is its flexible repayment schedules. The loan gets transferred to the M-Pesa account of the user after one has progressively borrowed the loan.

The interest rate charged by the Utunzi loan app is variable. If the borrowed amount is paid on time, the users are rewarded with better rates henceforth.

The loan limit of the Utunzi loan app ranges from a minimum value of Ksh500 to a maximum value of Ksh100000.

Here is the list of the best five loan-paying apps in Kenya. Use them to stabilize your financial situation and enjoy the offers.

6. MCo-op cash

This loan app enables the cooperative bank of Kenya customers to access bank services, including emergency loans. It gives customers account balances and transfers cash from their MCo-op Cash to Mpesa, Airtel.

It also allows bank customers to purchase airtime from the MCo-op cash account, among other services. With MCOOP Cash App, you can apply for up to 200,000 shillings of 1.5 times your net salary.

7. KCB M-Pesa

I believe Safaricom set the ball rolling for mobile lenders, and KCB, in partnership with M-Pesa, came up with a solution. If you are a registered M-Pesa user, you can access KCB M-Pesa. Since it is already on your mobile phone, you do not have to go through the pains of downloading and installing the application.

One only needs to click on the KCB Mpesa tab under loans and savings and select a loan. That’s it. They require no registration or further details from you.

Once the amount you have requested is within your loan limit, they will send the loan amount to your Mpesa. KCB M-Pesa, therefore, ranks on the list of the best online M-Pesa loans in Kenya today.

8. Mshwari

I could not finish this list without mentioning a Safaricom product. All the other apps work best with M-Pesa. So, just like KCB, M-Pesa Safaricom, in partnership with NCBA Bank, has a solution for mobile loans dubbed Mshwari.

It operates on the principle of saving for accessing a loan. Depending on how you keep on Mshwari and repay your past loans, they can increase your limit.

To qualify for a Mshwari loan, you must be an M-PESA subscriber for six months, save on M-Shwari and actively use other Safaricom services such as voice, data, and M-PESA.

9. HF Whizz Loan

HF Whizz is more than a lending app, and it offers so much more where you can do most of your digital transactions on the app.

These include: paying for goods directly from your HF account, money transfer, saving on the app, buying airtime, and applying for a loan. Here is how to get an HF Whizz Loan.

10. Okash Loan

Opera Software develops Okash to tap into the growing money lending business. The application started with a target of providing loans to at least 100,000 Kenyans for a start.

The Okash loan app is one of Kenya’s most popular lending apps.

 11. Branch Loan App

The first loan app in Kenya to review is Branch Loan. It is a popular app introduced to Kenyans in 2015 by Branch International. After Tala, the branch loan app is Kenya’s second oldest online mobile lending platform.

The Branch loan app is available in Kenya and can also be found in Tanzania and Nigeria. The mobile lending app gives its users loans up to KES 70,000. To get started on Branch App, you download it from Google Play, use Facebook to sign up, and log in, and automatically you will know if you qualify for a loan or not. If they approve you for a loan, you will receive it through M-Pesa.

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