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Looking for mobile loan apps in Kenya? Look no further! In this blog post, we will provide a comprehensive list of all mobile loan apps in Kenya. This list includes both the big banks and the smaller players in the mobile loan app industry.
We will also provide information on each mobile loan app, such as the interest rates and repayment terms. So whether you are looking for a small or large mobile loan, we have you covered!
Before we get started though, let’s look at the types of loans available in Kenya.
1). Personal apps loans in Kenya (offered by Banks)
Personal loans are unsecured loans that are offered to individuals for a variety of reasons, such as debt consolidation, home improvements, or medical expenses. The interest rates on personal loans vary from bank to bank.
2). Business loans (offered by Banks)
What is a business loan? A business loan is a type of loan that is offered to small businesses for the purpose of expanding or starting a business. Just like personal loans, the interest rates and repayment terms on business loans vary from bank to bank.
3). Auto apps loans in Kenya (Offered by Banks, Microfinance, and Auto Dealers).
Auto loans are a type of secured loan that is used to purchase vehicles. The repayment for auto loans is spread from 3 to 7 years and their interests vary depending on if you are buying a new car, a second-hand car, the type of car, and the price.
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4). Mobile Apps Loans in Kenya (provided by mobile apps)
What is mobile lending?
Mobile lending refers to the act of offering mobile loans through mobile apps. mobile loans are relatively small, unsecured mobile loans that can be paid through mobile money platforms such as M-Pesa. (More on mobile loans later).
5). Student loans (provided by banks and the Higher Education Loans Board).
A student loan is a type of loan that is offered to students who are attending college or university. The interest rates and repayment terms on student loans vary from bank to bank and institution to institution.
And is often repaid after the student has secured a job.
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6). Payday Loans (Offered my microfinance and peers).
Payday loans are short-term, unsecured loans that are typically repaid on the borrower’s next payday. The interest rates and repayment terms for payday loans vary from lender to lender, but they are often very high.
7). Shylock loans (offered by business people).
Shylock loans are secured loans that are offered by business people to individuals who need money for a short period of time. The interest rates and repayment terms on shylock loans vary from lender to lender, but they are often very high.
You can secure a shylock loan if you have a smartphone, laptop, furniture, electronics, logbook, or title deeds.
8). Logbook loans (offered by microfinance)
Logbook loans are a type of secured loan that is offered to individuals who need money for a short period of time. The interest rates and repayment terms on logbook loans vary from lender to lender, but they are often very high.
You can secure a logbook loan if you have a car, van, or motorcycle and if you fail to pay, the lender will sell your collateral.
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Mobile loans in Kenya.
Though there is a loan for literally anything in Kenya, in this post we will only focus on loans disbursed to Mpesa.
These can be loans issued by banks but sent to M-Pesa or loans issued by loan apps.
Below are some of the top lenders in Kenya and the type of loans they offer.
Top 10 Mobile Loans Offered by Banks in Kenya.
Name Minimum Loan Amount in (KES) Maximum Loan Amount in (KES). Repayment Period Bank Loan USSD Code Mobile Loan App on Playstore
Kenya Commercial Bank (KCB Vooma Loan) 1,000 300,000 30 days *522# KCB app
Equity Bank (Eazzy Loan) 1,000 3,000,000 30 days *247# Eazzy app
CBA Loop 0 3,000,000 6 to 36 months *488# or *654# Loop app
Absa (Timiza Loan) 50 1,000,000 30 days *224# Timiza loan app.
Coop Bank (Mcoop Cash Loan) 1,000 500,000 1 day to 3 months *667# Mcoopcash app.
Sidian Bank (Q Loans) - 500,000 12 months *527# Sidian Vibe app
Faulu Microfinance Bank (Digi Loan) - - - *339# Faulu Digicash app
Family Bank (PesaPap Loan) - - 30 days *325# PesaPap, Family Bank app
Housing finance Company of Kenya Ltd (HF Whiz) 1,000 50,000 30 days *618# HF Whizz Loan app
Mobile Loans offered by Safaricom in Kenya.
- Mshwari
- Fuliza
- KCB- MPesa
- Mobile Loans Offered by Shylocks in Kenya.
- Payday loans disbursed to Mpesa in Kenya.
Mobile loans offered by loan apps in Playstore.
Loan app Minimum loan amount (KES). Maximum loan amount (KES). Loan Repayment period Loan USSD Code
Branch Loan app 250 70,000 from 62-180 days N/A
Zenka Loan app 500 20,000 up to 61 days *841#
Utunzi loan app 300 100,000 up to 365 days N/A
Tala Loan App 500 50,000 up to 61 days N/A
Okash Loan app 1,500 500,000 up to 30 days NA
Okoa Mia App 100 900 up to 5 days *682#
Bayes loan app 800 30,000 from 14 to 30 days *879#
Okolea loan app 500 250,000 up to 28 days *842#
Mfanisi 200 25,000 up to 30 days N/A
Pesa Pata - 20,000 up to 30 days *269#
There are a plethora of mobile loan apps in the Kenyan Playstore, but not all of them are worth your time.
In this section, we will only focus on the top mobile loan apps that offer the best interest rates and repayment terms.
Below is a list of the top mobile loan apps in Kenya.
1). Zenka Loan App
Zenka is a mobile loan app that offers unsecured mobile loans to individuals who need money for a short period of time.
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The interest rates and repayment terms on Zenka mobile loans are fair and approved loans are sent to Mpesa promptly.
You can secure a Zenka mobile loan if you have an Android smartphone and if you are 18 years and above.
To apply for a mobile loan from Zenka, follow the steps below:
- Install the Zenka loan app from Google Playstore.
- Register using your mobile number and complete your profile by providing details such as your National ID Number, education level, place of work, etcetera.
- Wait for approval and if approved, the mobile loan will be sent to your M-Pesa mobile money account promptly.
- Note: The minimum amount you can borrow from Zenka is Ksh 250 while the maximum amount you can borrow is Ksh 50,000.
How to Apply for Zenka Loan With USSD Code.
Even without a smartphone, you can still apply for Zenka mobile loans.
To apply, follow the steps below:
Dial *841#.
- Enter your 4-digit PIN.
- Select [Extend] and check information about the cost of the loan and term.
- Select one of the available terms.
- Wait for SMS notification.
2). Tala Loan App
Tala is another mobile loan app that offers unsecured mobile loans to individuals who need money for a short period of time.
You can get as much as KSh 30,000 in minutes and the best part? Your loan limit will keep increasing if you keep paying consistently and on time.
How to apply for a Tala Loan via apps loans in Kenya
Download and install the Tala mobile loan app from Playstore.
Once installed, open the mobile loan app and register using your mobile number.
Complete your profile by providing details such as your National ID Number, education level, place of work, etcetera.
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Wait for approval and if approved, the mobile loan will be sent to your M-Pesa mobile money account in a short time.
How to Apply for Tala Loan With USSD Code.
Tala doesn’t have a USSD code, however, you can use your Kabambe phone to communicate to Tala via their SMS code 21991.
3). Branch Mobile Loan App
The branch mobile loan app offers mobile loans of up to KSh 70,000.
The interest rates and repayment terms are fair and approved mobile loans are sent to Mpesa within seconds.
How to Apply for Branch Loan With Smartphone.
If you have an Android smartphone, follow the steps below:
Download and install the mobile loan app from Playstore.
Register using your mobile number, verify your mobile number and complete your profile by providing details such as your National ID Number.
Wait for approval and if approved, the mobile loan will be sent to Mpesa within seconds.
How to Apply for Branch Loan With USSD Code.
Branch International doesn’t have a USSD code, which means that it’s impossible to access mobile loans from Branch without a USSD code.
4). Izwe Loan App
Izwe is a credit-only institution that offers unsecured checkoff loans to all civil servants, TSC members in Kenya as well as selected parastatals and private institutions.
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How to Apply for Izwe Loan With Smartphone.
If you have an Android smartphone, follow the steps below:
Download and install the mobile loan app from Playstore.
Register using your mobile number, verify your mobile number and complete your profile by providing details such as the district you live in, ID Number, and any other information required.
Once done, wait for the approval and if approved, the mobile loan will be sent to Mpesa within seconds.
How to Apply for Izwe Loan With USSD Code.
If you don’t have an account, don’t worry, you can still apply for mobile loans from Izwe unsecured loans via the IZwe mobile loan USSD code.
To apply, follow the steps below:
Open your mobile phone’s dialer and dial the USSD code 48369#. and choose the service you wish to get.
You will then receive a confirmation message to proceed or cancel.
If you choose to proceed, an agent will call you with all the information about the needed requirements and how the loan will be disbursed.
5). Haraka Mobile App Loan
Haraka offers you instant nano-loans that pay directly into your mobile wallet within minutes.
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The mobile app is designed to cater to your small emergency needs without the need of filling out long application forms.
How to Apply for Haraka Mobile App Loan With Your Smartphone.
If you have an Android smartphone, follow the steps below:
Download and install the mobile loan app from Playstore.
Register using your mobile number, verify your mobile number and complete your profile.
Once done, wait for the approval and if approved, the mobile loan will be sent to Mpesa within minutes.
How To Apply For Haraka Mobile App Loan With USSD Code.
Haraka loan doesn’t have a USSD code. You can only apply for mobile loans from Haraka using your Android smartphone.
6). Chapchap Loan mobile app
Chapchap mobile loan app offers mobile loans from Ksh 500 to Ksh 50, 000 instantly via Mpesa
Repayment terms are friendly and the mobile loan facility is fast and convenient.
How To Apply For Chapchap Loan With Your Smartphone.
If you have an Android smartphone, follow the steps below:
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Download and install the mobile loan app from Playstore.
Register using your mobile number, verify your mobile number, and complete your profile.
Once done, wait for the approval and if approved, the mobile loan will be sent to Mpesa within minutes.
How To Apply For Chapchap mobile loan With USSD Code.
Chapchap mobile app doesn’t have a USSD code. You can only apply for mobile loans from Chapchap mobile app using your Android smartphone.
7). Timiza loan mobile app
Timiza mobile loan app is a mobile loan service offered by Barclays bank.
It’s not only fast and convenient but it also offers affordable mobile loans to customers.
How To Apply For Timiza Mobile Loan With Your Smartphone.
If you have an Android smartphone, follow the steps below:
Download and install the mobile loan app from Playstore.
Register using your mobile number, verify your mobile number and complete your profile.
Once done, wait for the approval and if approved, the mobile loan will be sent to Mpesa within minutes.
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How To Apply For Timiza Mobile Loan With USSD Code.
To apply for a mobile loan with Timiza mobile loan app, follow the steps below:
Open your mobile phone’s dialer and dial 848# Loan Amount Duration in Months #. For example, if you want to borrow Ksh 30, 000 for 12 months, you will dial 88899*__*12*.
You will then receive a confirmation message to proceed or cancel.
8). Okolea Loan App
Okolea mobile loan app offers mobile loans to all Kenyans at affordable interest rates.
The mobile loan app is designed to cater to your small emergency needs without the need of filling out long application forms.
How To Apply For Okolea Loan App With Your Smartphone.
If you have an Android smartphone, follow the steps below:
Download and install the mobile loan app from Playstore.
Register using your mobile number, verify your mobile number and complete your profile.
Once done, wait for the approval and if approved, the mobile loan will be sent to Mpesa within minutes.
How To Apply For Okolea Loan App With USSD Code.
To apply for a mobile loan with Okolea mobile app, follow the steps below:
Open your mobile phone’s dialer and dial *842# then follow the instructions.
You will then receive a confirmation message after applying for your loan. And if approved, your loan will be sent to your Mpesa wallet.
9). Mshwari Loan.
Mshwari mobile loan app is offered by Commercial Bank of Africa (CBA) and it’s one of the most popular mobile loans in Kenya.
The mobile loan app offers quick mobile loans to Kenyans without the need of filling out long application forms.
How To Apply For Mshwari Mobile Loan With Your Smartphone.
Download and install the Mpesa mobile loan app from Playstore.
Log in and navigate to “grow” on the bottom right corner of the app then choose Mshwari.
Next, choose the loan amount and request any loan amount.
How To Apply For Mshwari Mobile Loan With USSD Code.
- Dial *334# and choose loans and services (option 4).
- Next choose option 2 (Mshwari).
- Now choose loan @9% for 30 days (option 3).
- Request loan. Option 1.
- Enter the loan amount, for example, Ksh. 10,000 and send.
- Key in your PIN and send.
- Your loan will be disbursed immediately.
10). KCB Mpesa Loan
KCB Mpesa mobile loan app is offered by KCB bank and it’s just as popular as Mpesa loan.
How To Apply For KCB Mpesa Mobile Loan With Your Smartphone.
- Download and install the Mpesa mobile app from Playstore.
- Register using your mobile number, verify your mobile number and complete your profile.
- Once done, click the grow button at the bottom right of the app.
- Next, choose KCB Mpesa.
- Click the loan amount button to request a loan.
How To Apply For KCB Mpesa Mobile Loan With USSD Code.
- Dial *334# and choose loans and services (option 4).
- Next choose option 3 (KCB Mpesa).
- Now choose loan @9% for 30 days (option 3).
- Request loan. Option 1.
- Enter the loan amount, for example, Ksh. 10,000 and send.
- Key in your PIN and send.
- Your loan will be disbursed immediately.
Mobile Loan Apps – FAQ’s
What is a mobile loan?
A mobile loan is a short-term, unsecured loan that is disbursed and repaid using a mobile phone. Mobile loans are also known as mobile money loans or M-Pesa loans.
What are the requirements for mobile loan apps in Kenya?
The requirements for mobile loans in Kenya vary depending on the lender but generally, you will need to be at least 18 years old, have a valid ID and mobile phone number, and have an active M-Pesa account.
How do I repay my mobile loan?
You will repay your mobile loan using your mobile phone. You will typically receive a payment reminder via SMS before your repayment is due.
To make a repayment, you will need to go to your mobile money menu and select the ‘Lipa NA M-Pesa’ option.
From there, you will enter the mobile loan repayment number and the amount you wish to repay. Once you have confirmed the payment, your mobile loan will be repaid.
What is the interest rate on mobile loan apps in Kenya?
The interest rate on mobile loans in Kenya ranges from 12% to 36%. It is important to compare the interest rates offered by different lenders before you apply for a mobile loan.
Can I get a mobile loan if I am self-employed?
Some mobile lenders may offer mobile loans to self-employed individuals, but it is best to check with the specific lender to see if they offer this service.
What is the maximum mobile loan I can borrow?
The maximum mobile loan you can borrow will vary depending on the lender but it typically ranges from Ksh. 500 to Ksh. 50,000.
Can I renew my mobile loan non the app?
It depends on the mobile lender but some mobile lenders do offer loan renewals.
Can I get a mobile loan if I have bad credit?
Some mobile lenders may offer mobile loans to individuals with bad credit, but it is best to check with the specific lender to see if they offer this service.
Which is the best mobile loan app in Kenya?
There is no one-size-fits-all answer to this question as the best mobile loan app for you will depend on your individual needs and circumstances.
We recommend comparing the mobile loan options available from different lenders before you make a decision.
Which mobile loan apps are most popular in Kenya?
The most popular mobile loan apps in Kenya are M-Pesa, KCB Mpesa, and Equity mobile loan apps.
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