Top 10 Mobile Loan Apps in Kenya

Mobile loan apps have revolutionized access to credit in Kenya, providing a convenient and affordable way for individuals to access small loans without the need for collateral or lengthy paperwork.

These loan apps are accessible through smartphones and offer quick, easy, and convenient application processes.

Some loans are approved and disbursed within minutes, making them popular among low-income earners, small business owners, and individuals with limited access to formal credit facilities. In this article, we will highlight some of the best mobile apps in Kenya.

List of the Best Mobile Apps in Kenya

Below are some of the best mobile loan apps in Kenya.

1. Tala Loan App (One of the Best Mobile Loan Apps in Kenya)

Tala is a mobile-based lending app that offers unsecured loans to Kenyans. The app provides financial services to borrowers often excluded from traditional banking systems, enabling them to access loans quickly and easily.

The Tala loan app was initially known as Mkopo Rahisi and was rebranded to Tala. This loan app offers up to 50,000, which is disbursed through M-Pesa.

Interest Rates

Tala’s interest rates vary depending on the borrower’s creditworthiness and loan amount. Interest rates range from 7% to 15%, with a standard processing fee of 5% on the loan amount. The app calculates interest rates and processing fees based on the borrower’s risk profile.

Repayment Period

Tala offers loan repayment periods between 21 and 30 days, depending on the loan amount. The loan repayment period starts when the loan is disbursed to the borrower’s account. However, Tala also offers flexible repayment options, where borrowers can extend their repayment periods for an additional fee.

2. Zenka Loan App(One of the Best Loan App )

Zenka, a mobile loan app in Kenya, offers quick and convenient access to short-term loans. The app is available for download on Android and iOS devices, and it is widely used by Kenyans who need instant access to credit.

Interest Rates

The interest rates charged by Zenka are relatively high, as is the case with most short-term lenders. The app charges a one-time interest fee of 9% and 30% on the principal amount borrowed, depending on the repayment period chosen.

Repayment Period

Zenka offers flexible repayment periods ranging from 14 to 61 days, allowing borrowers to choose a period that best suits their financial situation. The repayment period selected will determine the interest fee charged on the loan. The app also offers early repayment, allowing borrowers to repay their loans before the due date and save on interest fees.

3. Timiza Loan App

Timiza is a mobile loan app in Kenya that allows users to access instant loans to meet their financial needs. The app is operated by Barclays Bank of Kenya and was launched in 2018.

Interest Rates

The interest rates charged by Timiza depend on the loan amount and the repayment period. Generally, the interest rates range from 6% to 18% annually. The interest rates are lower for loans with shorter repayment periods and higher for loans with more extended repayment periods.

Repayment Period

The loan repayment period on the Timiza app ranges from 1 month to 12 months. The loan amount and the borrower’s creditworthiness determine the repayment period. Borrowers can repay the loan in monthly installments or a lump sum at the end of the repayment period.

4. Zidisha Loan App

Zidisha is a peer-to-peer micro-lending platform in Kenya and several other African countries. The platform connects borrowers directly with lenders, eliminating the need for intermediaries such as banks. Also, it aims to make affordable credit available to entrepreneurs who would otherwise be unable to access it.

Interest Rates

Zidisha offers a flat interest rate of 5% annually. This rate is significantly lower than those charged by traditional banks and microfinance institutions, making Zidisha a popular choice among small business owners in Kenya.

Repayment period

Zidisha loans are repaid weekly for four to fifty-two weeks, depending on the loan amount and terms. Borrowers can make payments through mobile money services such as M-Pesa, Airtel Money, and T-Kash. In addition, late prices are subject to a penalty fee of 5% of the overdue amount.

5. Stawika Loan App

Stawika is a loan app in Kenya that provides quick loans to users via their mobile phones. The app is available for download on Android and iOS devices and is designed to offer loans to Kenyans who need financial assistance for various purposes.

Interest Rates

The Stawika loan app offers monthly loans at a fixed interest rate of 15%. If you borrow Ksh 10,000, you must repay Ksh 11,500 at the end of the loan term, usually 30 days.

NB: The interest rate is fixed and does not change regardless of the loan amount.

Repayment Period

The period for the Stawika loan app is 14 to 30 days. This means that borrowers are required to repay the loan within this period, failure to which they will be charged a late payment fee of 10% of the outstanding loan amount. The loan repayment is made through the mobile money platform, M-Pesa.

6. MShwari Loan

M-Shwari is a mobile banking platform in Kenya provided by Safaricom, the country’s leading mobile network operator, in partnership with the Commercial Bank of Africa (CBA). It offers various financial services, including savings and loans, accessible through the M-PESA mobile money service.

Moreover, their loans are short-term unsecured loans accessible to M-PESA customers who have been using the service for at least six months and have a good credit history.

The loan amount offered to customers ranges from Ksh 100 to Ksh 50,000.

Interest rates

M-Shwari loans attract an interest rate of 7.5% per month, translating to an annual percentage rate (APR) of 90%. The interest rate is fixed and is calculated on a reducing balance basis, which means that the interest charged decreases as the loan balance decreases.

Additionally, M-Shwari loans attract a facilitation fee of 7.5% of the loan amount, which is deducted upfront before the loan disbursement.
Repayment period: Mshwari can be repaid for a period ranging from one to six months.

7. Zash Loan App

Zash Loan App is a mobile lending platform in Kenya that provides quick and easy access to short-term loans to individuals and small businesses. The app uses an algorithm to analyze the creditworthiness of applicants and determines the loan amount and interest rate.

Interest rates

Zash Loan App offers loans ranging from KES 500 to KES 50,000 with 10% and 30% interest rates. The interest rate charged depends on the loan amount, repayment period, and the applicant’s credit score.

Repayment period

Log into the Zash Loan App and select the repayment op to repay your location. The loan repayment period varies from 7 days to 30 days. You can repay the loan using the mobile money account used to receive the loan, and the repayment is automatically deducted on the due date. Late repayment of the loan attracts additional charges.

8. Instarcash Loan App

Instarcash is an app that provides instant loans to individuals who need quick cash. You can download the app on both Android and iOS platforms.

Interest rates

The interest rates for Instarcash loans vary depending on the loan amount and the repayment period. Generally, the interest rates for Instarcash loans range from 5% to 25% per month. The interest rates for Instarcash loans are competitive and relatively low compared to other loan apps in Nigeria.

9. Haraka Loan App

Haraka Loans is a mobile lending app that operates in Kenya, providing instant loans to its users.

Interest rates

The interest rates charged by Haraka Loans vary depending on the loan amount and repayment period. The interest rates range from 23% to 32%, with an average monthly interest rate of 23%. The app also charges a one-time loan processing fee of 10% of the loan amount.

Repayment period

Haraka Loan repaying varies from 7 to 90 days, depending on the loan amount and the borrower’s creditworthiness.

10. Okash Loan App

Okash is a mobile loan app that provides instant microloans to individuals in Kenya. Opera Group, a Norwegian software company specializing in web browsing technologies, owns the app. However,  Okash was launched in Kenya in 2018 but is currently inactive in Kenya.

NB: The Okash Loan app is being used mainly in Nigeria. Therefore, don’t be lured by any other app pretending to be them.

How to Appy for Mobile Loans in Kenya

To access loans, you can download the loan lender’s mobile apps from the Google play store or Apple App store. Also, you can access the loans via the following USSD codes.

•Tala Loan USSD: Only via the App.
•Timiza Loan USSD: *848#
•Zenka Loan USSD: *483*101#
•Branch Loan USSD: Only via the official mobile app.
•Haraka Loan USSD: *841#
•Okash Loan USSD: *955#
•Stawika Loan USSD: *872#
•Mshwari USSD: *334#
•Zash Loan USSD: *Via app only.
•Instarcash Loan USSD: only via mobile app.

Licensed Mobile Loans Lenders in Kenya

As of January 2023, these 22 digital lenders were licensed by the Central Bank of Kenya to issue digital loans in Kenya. The lenders who run mobile loan apps include the following;

•Mwanzo Credit Limited
•MyWagepay Limited
•Rewot Ciro Limited
•Sevi Innovation Limited
•Sokohela Limited
•Flash Credit Africa
•Jijenge Credit Limited
•Kweli Smart Solutions Limited
•Ngao Credit Limited
•Tenakata Enterprises Limited
•Umoja Fanisi Limited
•Inventure Mobile Limited – Tala
•Letshego Kenya Ltd
•Natal Tech Company Limited
•Pezesha Africa Limited
•Zanifu Limited
•Jumo Kenya Limited
•MFS Technologies Limited
•M-Kopa Loan Kenya Limited
•Mycredit Limited
•Ceres Tech Limited
•Getcash Capital Limited


Overall, the top 10 mobile loan apps in Kenya have revolutionized the lending industry in the country. These apps have made it easier and faster for people to access loans without the need for collateral or traditional banking procedures.
The convenience and accessibility of mobile loans have made them a popular choice for Kenyans, especially those who are unbanked or underbanked.

However, while mobile loans may seem like a quick fix for financial needs, exercising caution and borrowing when in the condition is essential. Borrowers should be aware of the interest rates and repayment terms of the loans they take and only borrow what they can afford to pay back.

With this in mind, mobile loan apps in Kenya can be a great financial tool for those needing short-term loans, and their popularity will continue to grow in the coming days.