Mobile loan apps in Kenya, have become a popular way to access quick, hassle-free credit. With millions of users benefiting from the convenience and accessibility of these apps, here are the top five mobile loan apps with over 1 million downloads on the Google Play Store.
- Tala Loan App
With over 10 million downloads, Tala is one of the most trusted loan apps in Kenya. It has a 4.5-star rating from 467,000 reviews. Tala offers a personal line of credit with a borrowing limit of up to KSh 50,000, and users can apply in just five minutes with only an ID.
Tala interest rates go as low as 0.3% per day, no collateral required, a smooth approval process, and therefore remains a top choice for quick mobile loans.
- Zenka Loan App
The Zenka loan app is another widely used loan app with over 5 million downloads and a 4.3-star rating from 138,000 reviews. It is particularly attractive because it offers new customers their first loan interest-free.
Zenka loans range from KSh 500 to KSh 30,000, with quick disbursement upon approval. After the first loan, interest rates range from 9% to 39%, depending on the repayment period.
- Timiza Loan App
Timiza has gained popularity with over 1 million downloads and a 4.0-star rating from 6,760 reviews. Unlike other loan apps, Timiza loans are disbursed to a Timiza account before being transferred to M-PESA.
The Timiza loan app charges an interest rate of 1.083% along with a 5% facilitation fee for a 30-day loan period. To qualify, users must have been M-PESA subscribers for more than six months and have a good CRB rating.
Read: 5 Loan Apps in Kenya with Flexible Repayment Plans
- LendPlus Loan App
With 1 million+ downloads and a 4.1-star rating from 27,600 reviews, LendPlus offers flexible loan options ranging from KSh 500 to KSh 50,000. Users can repay their loans over a period of 61 to 365 days, making it ideal for those who need longer repayment terms.
- OKash Loan App
The OKash loan app has achieved over 10 million downloads and holds a 4.4-star rating from 253,000 reviews. OKash is known for its fast loan approval and paperless application process, making it a convenient option for those in urgent need of funds.
Users can borrow between KSh 2,500 and KSh 50,000, with interest rates ranging from 5% to 18%, depending on the OKash loan amount and repayment period. The quick disbursement feature makes OKash one of the top-rated mobile loan apps in Kenya.