This article is detailed all you need to know about how to access and a complete list of loans apps in Kenya. Are you looking for a loan in Kenya? Well, read through this list of the best loan apps in Kenya. We live in exciting times where you can get everything from the palms of your hands, including obtaining credit. This article will review the popular money-lending apps available today.

In a report by the Communications Authority of Kenya, Kenya’s number of active mobile subscriptions was 46.6 million. This report was four years ago.

With a total population of 51.39 million, more Kenyans own mobile phones than any other gadget (Computer, TV, radio, etc.).

More Kenyans are likely to subscribe to mobile loan apps because of the ease of access to these services compared to traditional lenders, like banks and MFIs.

Types of Loans Apps in Kenya 2022

Here is a list of the best loan apps in Kenya 2022 under different categories:

1. Mobile Loans offered by Safaricom

They offer these loans directly on Safaricom, and you don’t need another app to access them. They include:

  • Fuliza
  • Mshwari
  • KCB M-Pesa

2. Mobile Loans offered by Banks

Banks have taken up the mobile lending space and have developed products that offer loans to the public or their customers. These are the safest loans and have low interest since these providers are regulated.

The mobile loans offered by banks in Kenya include:

  • Timiza – By ABSA Bank
  • NCBA Loop–You have to save and use the app for some time to qualify for a loan.
  • HF Whizz–You will have to use it for some time and undergo the KYC process to qualify.
  • Eazzy App by Equity
  • KCB Vooma Loan–If you are a customer of KCB Bank, you are eligible.
  • PesaPap Wallet Loan by Family bank
  • MCo-Op Cash by Co-op Bank

3. Loan apps downloaded on Google Play

Here are the traditional mobile loan apps found on Google Play. I will only list genuine loan apps in Kenya. Although, some have questionable practices even though they give out loans. They will invade your privacy and call your contact list if you default.

Here are some of the new loan apps in Kenya in 2022 and beyond:

We had a list of the top 20 loan apps in Kenya. However, we have since revised the article and only have the top loan apps in Kenya. Most mobile loan app lenders had closed and removed their apps from Google.

Back then, when you needed a quick cash loan, there were limited options, from going to banks (which is not fast) to turning to family and friends for help.

Lucky are we that you can do almost anything on your smartphone these days, including accessing a fast loan. There are many best instant loan apps in Kenya where it will take you less than 5 minutes to get a loan to your M-Pesa.

Best Loan Apps in Kenya in 2022

Here is a list of the best loan apps in Kenya:

1. 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 the second oldest online lending mobile platform in Kenya.

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.

2. Tala Loan: Best Loan App in Kenya

I initially knew it as Mkopo Rahisi and rebranded to Tala. The Tala Loan app is among the best and oldest mobile loan applications in Kenya. Over the years it has existed in Kenya, Tala has grown to be the most trusted mobile loan provider and one of Kenya’s best instant loan apps.

They offer loans up to 30,000 and disburse the loan through M-Pesa. They pride themselves on giving loans in less than 5 minutes, and you will build your credit up to the maximum amount by repaying your loans in time.

Tala App has over 5 Million downloads on the Google store and is one of Kenya’s most popular money-lending apps. To get a loan from Tala, all you have to do is download it to your smartphone and create an account. If they do not list you on CRB, you will get your first loan to choose the payment terms.

3. Timiza Loan

Timiza is an online Mobile money app by Absa group, formerly known as Barclays Bank Kenya, one of the local banks in Kenya. As mentioned earlier, the lending app craze in Kenya has forced mainstream financial players to innovate. Unlike other apps from banks, the best thing about Timiza is that they do not limit it to the bank’s customers alone but are instead available to all Kenyans.

Apart from offering loans, the Timiza app also serves as a bank account to manage their account.

How to access a mobile loan from Timiza App:

  • Download and Install the Timiza app from the Google Play store
  • Fill in your registered M-Pesa number.
  • Activate your application by using the pin shared with you
  • You can then apply for a loan from Timiza

Timiza loans have a repayment period of 30 days, and one can borrow up to KES 150,000.

4. 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 account 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.

5. 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 have access to KCB M-Pesa. Since it is already on your mobile phone, you do not have to go through the pain 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.

6. 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, all you need is to 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.

7. 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.

8. 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. Currently, the Okash loan app is one of Kenya’s most popular lending apps.

9. Zenka Loan

Zenka is one of the best, and the best thing is that you get your first loan free. When you apply for 2000, you pay back 2000. Zenka loans start at Ksh 500 and can go up to 20,000. After the first free loan, the Zenka loan will charge an 11% interest fee if you repay your loan on time.

Based on the reviews shared by most of its users, the Zenka mobile loan app has zero hidden costs to its customers.

All the costs you might need to incur while accessing the loan are known to you during your application. As a result, they make your loan cost as affordable as possible.

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.

Summary of Mobile Loan Apps in Kenya

NameMinimum Amount (KES)Maximum Amount (KES)Repayment Period
Fuliza170,00030 Days
Mshwari10050,00030 Days
KCB M-Pesa10001,000,00030 Days
Timiza501,000,00030 Days
LOOP50,0003,000,0006 to 36 Months
HF Whizz Loan1,00050,00030 Days
Eazzy Loan1,0003,000,000From 1 to 36 Months
KCB Vooma Loan1,001300,00030 Days
Mco-op Cash Loan1,000500,0001 to 3 Months
PesaPap Wallet Loan1,00050,00030 Days
Branch loan1,00070,00030 Days
Tala loan1,00030,00030 Days
Okash Loan50050,00015 and 21 Days
Zenka loan50030,00061 Days

Mobile loan apps Frequently Asked Questions.

From this part, I will answer some of the common questions asked regarding the best mobile loan apps in Kenya today.

1. What is a mobile loan?

Short answer: A loan you get on your mobile phone. For example, you have taken a mobile loan when you use your phone to borrow from a lender to sort out your financial situation.

The most common mobile loans in Kenya are from loan apps, but recently, some lenders offered loans through USSD, which is part of the mobile loan providers.

2. How can I get a mobile loan in Kenya?

To get a loan from your phone, you need a smartphone and internet access most of the time. Most mobile loan lenders prefer you have a Safaricom line with M-Pesa enabled. Then it would be best if you had a good credit score to qualify. As I have mentioned, others offer loans through USSD, so in this case, you don’t need to have a smartphone or internet access.

3. Which is the best mobile loan app in Kenya?

It depends on different users having unique experiences. To answer this question, I will have to differentiate the lenders that lend through mobile. These are regulated, lenders and unregulated lenders. When I say held, I mean those lenders that the CBK regulates, most of which are banks.

One of the best mobile loans app in Kenya on the list of regulated loan apps is Timiza because you don’t have to be a customer of Absa bank to get a loan from this app. Their interest rates are reasonable too.

In this list, I can add Fuliza by Safaricom, Mshwari, and KCB Mpesa, which are readily available if you have a Safaricom line with M-Pesa enabled.

Unregulated lenders are the ones who introduced mobile loan apps to Kenya, and in this list, I can single out the best based on my experience. These are the Tala loan app and Branch Loan App.

The rest are good for user experience and interest rates charged on their loans.

4. Where can I get a mobile loan in Kenya?

I think I have answered your question from previous question above. The most comfortable place to get a quick loan in Kenya is right there on your phone. You can start with Fuliza, a service that allows you to complete your M-PESA transactions if you have insufficient funds in your M-PESA account.

Then check Mshwari, and if you need more, go to KCB Mpesa. But note, you must have saved a certain amount to qualify for a loan from KCB Mpesa.

You can try the unregulated mobile lenders, but you better start with Branch or Tala. (Don’t rely on these apps too much).

Now that I have answered the most popular questions, let us go through the list of mobile loans in Kenya, as promised at the beginning of this article.

5. Which are the genuine loan apps in Kenya?

All the apps listed on this page are genuine. I have used some, and I know of others who have used them, so I am not in doubt.

The best way to find out is to download and try them. Some will not give you money upfront, be careful.

The only fee you should pay is a percentage at the end of the loan period; some will tell you upfront how much they will deduct, others will charge whatever they feel like, and you won’t know until it’s too late.

But this does not mean that you should not go for a loan that deducts fees in advance.

6. Do I have to pay for a loan App?

No, loan apps are free to download, and they require no fees to get them.

However, some will deduct a percentage at the end of the loan period, and others charge an upfront fee that reduces your cash before you receive it. But this doesn’t mean that you should not go for a loan app that charges fees in advance because there are advantages.

7. Which app can give me a 50000 loan?

Many loan apps start with a small amount, and as you grow, your loan limit. Only KCB-Mpesa and Timiza can offer loans of 50K and even more. But this is over a duration of time. The only downside is that you have to repay the loans within a month.

NCBA loop can give you over 3 Million, and you can pay within a good year.

8. Which app can give me a loan when I am in CRB?

All the loan apps that are not supported by a Bank or regulated by the Central bank of Kenya can give you loans without checking CRB. This case might change soon as the digital lenders association works to get these lenders regulated and access credit records.

The apps that can give you a loan when you are in CRB include; Tala, Branch, Zenka, Okash, etc. Also, some of the new loan apps in Kenya 2022 cannot access CRB records.

9. Which is the best instant loan app in Kenya?

Most bank-backed mobile loans will not give you instant loans in Kenya immediately after downloading their app. They require you to deposit and use the app for at least three months before qualifying for the first loan.

On the other end, traditional loan apps like Tala, Branch, Zenka, etc., can give you instant loans in Kenya immediately after you sign up.

Mobile Loan Apps in Kenya Conclusion

Loan apps in Kenya have seen a surge in popularity in recent years. While there are some concerns about the high-interest rates charged by some lenders, these apps can be a helpful way to access credit for Kenyans who may not qualify for traditional bank loans.

In addition, mobile loan apps in Kenya have helped increase financial inclusion by providing access to credit for small businesses and individuals who would otherwise have found it difficult to get loans.

As loans apps in Kenya continue to grow in popularity, it will be important to monitor the industry closely to ensure that borrowers are treated fairly, and that loan terms are transparent.

Timiza Loan App: How To Register and Apply For Loan In Kenya

I hope you learned one or two things regarding mobile loan apps in Kenya, and you can make informed financial decisions. From the article, now you know which app gives you a loan immediately in Kenya and the app that offers instant loans.

If you have questions about the mobile loans apps in Kenya, do feel free to let us know.

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