Best Loan App in Kenya
2. Timiza App by Barclays
3. Branch International Inc
4. Saida Loans
5. Zidisha Loans
Time can get tough and especially now in January, you have those bills that need urgent attention.
Your children need school fees, they need new uniforms or, if that isn’t the case, then you have rent, electricity, phone bill and a ton of other stuff to pay for and this just won’t leave you enough for your own uses.
This is where a Quick mobile loan Like Branch loan will come in handy for you.
Small loans Kenya have started to happen at a very fast rate since a lot of these loans are taken as a last resort at the last minute by people who are so broke that they have no other option but to take the loan. Here are some of the providers of such loans:
Tala loans was the first mobile loan app to be launched in Kenya and they were initially called Mkopo Rahisi in 2014.
After a couple of years, the company changed up and switched their name from Mkopo Rahisi to Tala. For you to be able to get a loan from Tala Loans, you must access the talaapp via the Google Playstore. You also need to have a good MPESA history to access these services. You can get anything between KSH 500 and KSH 50,000 from Tala.
Timiza App by Barclays
Barclays Bank has been in the banking scene in Kenya for a while now and in the recent quarters, they have launched this new app called Timiza App, which is a mobile loan app available to anyone with a mobile device.
You can deposit money to the app via MPESA and this will help you to steadily increase your loan limit over time. It’s fast and efficient and works for anyone!
Branch International, Inc
Just as the name suggests, The Branch loan app is an international mobile loan firm with a working branch in Nairobi. It was launched in 2015 and this is one of the best loan apps in Kenya there is in the market as per now.
You are able to quickly get your loan within 24 hours or less depending on your credit scores and this has allowed branch loan to be one of the most sought-after loan providers in Kenya. To take a branch loan, you only need to have MPESA and match your Kenya ID card names to the names you input to their system.
Similar to Branch and Tala, Saida loans is also one of the best loan apps in Kenya. Saida allows its users to get a loan instantly so long as they do have active and existing MPESA or Airtel Money accounts.
They will go through your credits to see how good you are at managing your own finances before they do decide to give you anything yet, but when they have finally approved you for a loan, you’ll be glad they did. The approval window period is between 3 – 7 days and they are likely to give you a loan of between 600 KES and 25,000KES.
Zidisha Loans is yet another international firm that was started in 2008 and has been in the Kenyan market for a significant amount of time. Zidisha uses a peer-to-peer lending method which basically means that they source money for business or individuals from creditors who are in a position to loan money. The conditions that allow you to take a loan from Zidisha include:
- You must be employed or self-employed
- Must have a good conduct and reputation.
- Have a good credit score on record.
- Facebook account with legit and good social connect
- Be a citizen of a country that supports Zidisha