Mobile loan apps in Kenya
Image courtesy: Quartz

List of Mobile Loan Apps in Kenya and their Interest Rates

There has been an explosion of mobile loan apps in Kenya claiming to offer quick cash to anyone above 18 years and in need of cash. All you have to do is to download the loan app on your smartphone and follow through the prompts to get registered with a loan app.

That’s it. You now have access to loans as low as Ksh. 100 to a limit depending on your transaction history.

But this mobile money lending technology comes with its downsides. Many people have complained of some mobile loan apps texting all your contacts requesting them to repay your loan in case of even a slight default.

Not to mention frequent reminders and unwarranted calls from the loan collectors. Within no time you find yourself blacklisted with CRB.

See also: USSD Codes for Mobile Loans Apps in Kenya

These apps can infringe on your personal privacy by sharing your contacts with third parties who will grab every opportunity to spam your phone with promotional messages.

Read on to know which mobile loan apps in Kenya give quick and instant loans, some without CRB check or registration fee.

That said, here is a list of popular mobile loan apps and the interest rates they charge;

KCB Mpesa Loan Product

Upon your first registration, your initial loan limit will be based on your Mpesa usage and transactions. You need to be an active MPesa subscriber for the last 6 months to qualify for a loan.

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The loan ranges between KSh. 50 to 1M payable at an interest rate of 7.5% per month. You can also activate the KCB Mpesa menu in your Safaricom Mpesa Loans and Savings menu.

Mshwari Loan Product

Mshwari is like a bank account that you can open and manage from your phone. You can lock your savings and earn interests up to 6.65% p.a.

Mshwari charges an interest rate of 7.5% p.m. on your loan and you can access a minimum loan amount of Ksh. 100 to a maximum depending on your ability to pay on time, and saving ability.

Apply for M-Shwari loan, save money, repay loan and interest rates

Timiza Loan App

An app from Barclays that brings mobile banking services in your hands. Timiza attracts an interest rate of 6.08% p.m.

You can borrow from Ksh50 to Ksh100,000 depending on your CRB credit score.

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.

Tala Loan App

Has a flexible payment period of 21 days to 30 days. Tala interest rates range from 7% to 19% for a 30 day loan, and 5% to 14% for 21 day loan. You have to apply for the loan by answering a few questions, after which Tala will decide whether to give you a loan or not, depending on various factors.

Zenka Loan App

With Zenka, customers can apply for a 61 day loan payment terms with a one-time processing fee of 9 to 30%. The processing fee translates to a range of ksh. 45 to ksh 870 for a one-time charge.

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The loan amount can vary from ksh. 500 to ksh 30,000. With the ZenkaFlexi option, you can even pay for your loan upto 12 months.

Download Zenka loan app, register, apply and repay loan


You can borrow for Ksh 600 to Ksh 25,000 at interest rates between 7.5% to 10%. The loan limit depends on your transaction history among other factors.


Zidisha is a peer to peer online microlending community that directly connects lenders and entrepreneurs needing loans. You must be employed or running a business to qualify for zidisha loans.

Zidisha charges interest rates ranging from 5% to 20%.

Haraka Mobile Loan App

Loans attract an interest rate of 23.45% with payment periods from 7 to 30 days. You have access to loans ranging from ksh 500 to ksh 5,000, but the limit will grow depending on the transaction history.

Opesa Loan App

You can borrow from a minimum of ksh 2,000 to a maximum of ksh 30,000. Opesa charges an interest rate of 16.8%. The loan repayment period is 14 days.

This app is annoying since the contact person indicated will be called upon loan default, with CRB listing if the loan is not repaid in 20 days. In addition, a late repayment fee of 2.4% per day is effected on the loan.

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UbaPesa Borrowing and Lending App

Ubapesa is a peer to peer mobile loan app that connects lenders and borrowers. The money is credited to your Mpesa instantly with facilitation fee already deducted.

With this app you also get to know your Credit Score Rating. The interest rates vary from 8% to 10% with flexible payment between a day to 30 days. Loan amounts range from Ksh 500 to Ksh 70,000.

Berry Loan App

Charges interst rates between 8% to 15%. You can borrow from ksh 500 to ksh 15,000 the loan limit depends on your transaction history and payment records.

Eazzy Loan

This is an Equity bank feature to enable 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.

iPesa Loan App

You can borrow as low as ksh 500 to ksh 50,000 at an interest rate of 15%. Loan is approved immediately and disbursed into your Mpesa account in little time.

HF Whizz

A product of the Housing Finance Corporation. You can borrow from sh 1,000 to 50,000 at a rate of 7.725% payable in 30 days.

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