Home » Personal Finance » Loans » Top Best Mobile Loan Apps in Kenya 2024

Top Best Mobile Loan Apps in Kenya 2024

In Kenya, the landscape of financial transactions has undergone a significant transformation, with an increasing number of people turning to instant digital loans, especially in times of emergencies. Spearheading this revolution is Safaricom’s M-pesa, a trailblazing mobile money transfer and loan app that has not only inspired financial institutions but has also led to strategic partnerships. In this comprehensive guide, we unveil the most popular and genuine mobile loan apps in Kenya, ensuring you have the information you need to make informed financial decisions.

What is a Mobile Loan?

Mobile loans represent a convenient way of borrowing money directly through your mobile phone. In simple terms, a mobile loan is obtained when individuals use their phones to access financial assistance from a lender to address specific financial needs.

In Kenya, the prevalent source of mobile loans is through dedicated loan apps. However, there is a recent trend where some lenders provide loans through USSD, integrating this service as part of their mobile loan offerings. This demonstrates a growing diversity in the avenues available for individuals to secure quick financial solutions using their mobile devices.

Instant Credit Evolution: Redefining Banking Systems

As mobile loan apps gain popularity, traditional banks are restructuring their loan systems to stay relevant and competitive. In the current market, obtaining a loan from a Kenyan bank is no longer burdened by collateral or paperwork, thanks to the streamlined processes of mobile apps.

Features of the Best Mobile Loan Apps in Kenya

While the interest rates, repayment options, and eligibility criteria may vary slightly among different mobile loan apps in Kenya, there are key features to consider when selecting the most suitable one for your financial needs

Interest Rates: Many apps present competitive interest rates, typically ranging from as low as 1-1.5% per month.
Repayment Terms: A majority of these apps offer adaptable repayment options, allowing borrowers to choose short or long-term periods, providing the flexibility to repay at their own pace.
Eligibility Criteria: Each app has its set of eligibility criteria, commonly including a favorable credit score rating (CRB), a valid mobile number, a National ID, and an M-PESA account, among other requirements.

Pros and Cons of Leading Mobile Loan Apps in Kenya

Before settling on a particular mobile loan app, it’s crucial to weigh the advantages and disadvantages associated with each one.


Swift & Effortless Access: Most apps facilitate quick and hassle-free access to loans without the need for extensive paperwork or prolonged waiting times, typically requiring a valid Kenyan ID, an M-PESA account, and a steady source of income.
Flexible Repayment Terms: Borrowers benefit from flexible repayment terms, spanning short to long-term periods, enabling them to repay according to their financial comfort.
Convenience for Emergency Loans: Mobile loan apps are particularly convenient for obtaining small emergency loans, ensuring a prompt disbursement of funds without the inconvenience of paperwork or queues.

High-interest Rates: Mobile loan interest rates often surpass those offered by traditional banks or alternative lending institutions.
Ambiguous Terms & Conditions: Some apps feature vague or complex terms and conditions, making it challenging for users to fully comprehend the terms before committing to a loan.
Restricted Loan Amounts: Many apps impose limits on loan amounts, potentially falling short of covering significant expenses.
Hidden Charges: Certain apps may impose hidden charges, such as loan processing or service fees, contributing to the overall cost of the loan.
Low Default Rates: Approval for a loan may be more challenging if your credit score falls below the required threshold, as default rates are typically low.
Eligibility Requirements: Meeting the eligibility criteria for each app may take time, potentially delaying the loan approval process.
Subpar Customer Service: Some apps may lack effective customer service, hindering users from easily obtaining assistance when needed.

Choosing the Ideal App for Your Requirements
Selecting the right mobile loan app tailored to your specific needs can be a daunting task. Consider factors such as privacy concerns, invasion of personal data, and the overall transparency of terms and conditions before making a decision.


Tala stands out as one of the most popular loan apps in Kenya, offering a seamless experience without the hassle of Credit Reference Bureau (CRB) checks. With massive downloads and stellar user ratings, Tala empowers you to apply once and borrow against a credit limit of up to KSH 50,000. The straightforward process involves downloading the Tala app from the Google Play Store, registering, and accessing loans. Repayment is flexible, allowing you to settle the loan through Mpesa Xpress or Paybill number 851900.


Operating under the umbrella of Safaricom’s M-pesa app, Mshwari provides a diverse range of financial services, including savings and credit. Exclusively available to registered Safaricom users, M-Shwari loans range from Ksh. 1,000 to Ksh. 1 million, contingent on your credit history. With a reasonable annual interest rate of 9%, a one-time fee of 7.5%, and a 1.5% excise duty fee, Mshwari caters to various financial needs.


Distinct from M-Shwari, Safaricom’s Fuliza focuses solely on credit services. Repayment of a Fuliza loan, disbursed within 30 days, involves the addition of interest and fees, deducted directly from your M-pesa account.

KCB Mobile App

Kenya Commercial Bank (KCB) introduces a mobile banking platform through its KCB mobile app. Offering a secure and user-friendly interface, the app enables you to access your KCB account, send money, withdraw cash, and conveniently apply for loans. Not to be confused with KCB M-pesa, the KCB mobile app operates independently.

Timiza by Absa Bank

Timiza from Absa Bank (formerly Barclays Bank Kenya Limited) emerges as a key player in mobile loan apps. Accessible to both account holders and non-account holders, Timiza facilitates instant loans, money transfers, and insurance purchases through a user-friendly mobile platform. Non-app users can dial *848# to register and apply for Absa Bank’s mobile loans.


Branch credit platform distinguishes itself by offering loans in Kenya without CRB checks. With free registration within and outside the country, Branch allows access to personal loans ranging from Ksh. 500 to Ksh. 300,000. Fast approval within 24 hours, transparent terms with no hidden fees, and a repayment tenure ranging from 62 days to a year make Branch a reliable choice.


The iPesa loan app extends loans from Ksh. 500 to Ksh. 50,000 without service fees. With an annual interest rate of 36% to 72%, iPesa rewards timely repayments by gradually increasing your loan limit. A straightforward process involving app download, registration, and loan request makes iPesa an accessible option.


Zenka is a preferred choice among Kenyan borrowers seeking quick loans deposited directly into their M-Pesa accounts. The first loan is interest-free, and there are no service fees. Downloading the app from the Zenka website, Google Play store, or App Store, along with a simple application process, ensures you receive the loan within minutes.

KCB Vooma

The KCB Vooma platform, a newcomer among loan apps in Kenya, offers a dual function. Besides providing loans, the app facilitates payments for goods and services, along with secure money transfers between Vooma mobile wallets. Loans can be accessed by dialing *844# or downloading the KCB Vooma app.


Okash stands out by catering to both personal and business loan requirements, offering a maximum of Ksh. 60,000. The app’s algorithm determines your loan limit and payment period based on the details provided during registration. With an annual interest rate of 14%, Okash positions itself as a reliable lending solution.

Eazzy App by Equity Bank

Equity Bank’s Eazzy app joins the league of mobile loan apps offering instant loans within 24 hours. The app caters to diverse needs, disbursing loans directly to your Equity bank account, Mpesa line, or Equitel sim card. With a generous credit limit of up to KSh3 million and a flexible repayment period of up to 12 months, the Eazzy app sets a new standard in lending convenience.

PesaPap by Family Bank

PesaPap by Family Bank targets salaried individuals, providing salary loans to account holders with regular income from their employers. The app extends beyond salary loans, offering instant mobile loans to a broader audience.

Wezesha by Absa Bank

Wezesha by Absa Bank introduces a novel approach to mobile loan apps in Kenya, focusing on unsecured business loans. With loan amounts reaching up to Ksh. 10 million, Wezesha ensures a quick turnaround of 24 to 48 hours for loan processing. The extended repayment tenure of up to 6 years adds to the appeal of this program.

HF Whizz

HF Whizz by Housing Finance Group of Kenya (HFGK) emerges as one of the most trusted lenders. The app, available on both Google Play Store and App Store for Android and iOS phones, prioritizes the safety of registration details, providing a secure environment for loan transactions.

Hustler Fund: Empowering Citizens through Financial Inclusion

Launched on November 30, 2022, Hustler Fund is a groundbreaking initiative in Kenya, providing access to a funding pool of Ksh. 50 billion annually for at least five years. Offering individual loans of up to Ksh. 50,000, the Hustler Fund app ensures financial inclusion for citizens

. Accessing loans is simplified through the Google Play Store or by dialing *254# on the Safaricom network.


NCBA Loop app caters to the urgent financial needs of Kenyans, providing instant, low-cost loans on a self-service basis. Tailored for NCBA Mobile Banking customers, the app allows you to apply for a personal loan of up to Ksh. 300,000 anytime, anywhere.

MCo-opCash by Cooperative Bank

Co-operative Bank’s MCo-opCash app ensures that those with accounts in the bank can access loans as high as Ksh. 200,000 or 2.5 times their net salary. Even non-Co-op Bank account holders can access MCo-opCash loans using their ID cards and registered phone numbers. Dial *667# on your phone to register and borrow MCo-opCash loans.

SC Juza by Standard Chartered Bank

SC Juza by Standard Chartered Bank Kenya offers short-term 30-day loans through its mobile lending platform. Boasting more affordable interest rates compared to rival platforms, SC Juza provides instant 30-day loans of up to Ksh. 100,000. For more information, dial *722#.

M-Fanisi by Maisha Microfinance Bank

M-Fanisi, offered by Maisha Microfinance Bank, extends its loan platform to Airtel Money and M-Pesa registered customers. With repayment options within 7 days, 14 days, and 30 days, M-Fanisi ensures flexibility in borrowing. One-off facility fees range from 4% to 10%, excluding excise duty.

Loan Apps in Kenya without CRB Checks

For those averse to credit checks, several loan apps in Kenya extend their services without consulting the Credit Reference Bureau (CRB). These include:

  • M-pesa
  • Tala
  • Branch
  • HF Whizz
  • PesaPap

Choosing the Right Loan App: FAQs Answered

Which App Can Loan Me Money Instantly?

Safaricom’s M-Pesa stands out as the most popular mobile loaning app in Kenya, offering three types of instant loans: Fuliza, Mshwari, and KCB M-Pesa loans.

Which App Gives More Loans?

Most mobile loan apps provide clients with small initial amounts, gradually increasing their loan limits. Apps associated with prominent banks like KCB M-Pesa, MCo-op Cash, Equity’s Eazzy app, and Absa’s Timiza app offer clients loans of up to Ksh. 50,000.

Which Is the Easiest App to Get a Loan?

The ease of getting a loan on a mobile lending app depends on meeting the specific requirements and terms and conditions of each app.

How Can I Get an Immediate Loan?

Instant loans in Kenya are accessible through mobile lending apps that eliminate paperwork and expedite client verification. Simply install the app, register, and apply for a loan.

Is Instant Loan App Safe?

Legitimate loan apps from official platforms like the App Store and Google Play Store prioritize the confidentiality of your registration and loan details, ensuring a safe user experience.

Where to Report Loan Apps in Kenya?

Complaints about mobile loan apps and reports of fake apps can be directed to the Digital Lenders Association of Kenya (DLAK).

Which Loan Apps Are Banned in Kenya?

While nearly 500 loan apps were initially banned in Kenya, some have since been licensed by the Central Bank of Kenya (CBK) and re-entered the Google Play Store. The current status and names of blacklisted apps remain unclear.


In Kenya, the surge in mobile loan apps is a testament to the extensive internet and telecommunications network coverage. As more lending apps join the market, the landscape of personal and business loans continues to evolve. This guide equips you with the information needed to navigate the diverse offerings, empowering you to make informed decisions in your financial journey.

Disclaimer: This article is intended for general informational purposes only and does not address individual circumstances. It is not a substitute for professional advice or help and should not be relied on to make decisions of any kind. Any action you take upon the information presented in this article is strictly at your own risk and responsibility.

Trade on the Go. Anywhere, Anytime

One of the world's largest forex brokers is ready for you. Enjoy competitive fees and dedicated customer support while trading securely. You'll also have access to their tools that make it easier than ever to view your trade history, copy trades, manage investments from other traders, view price charts, and make conversions with zero fees. Make an account for free and join millions of traders and investors on the global forex market.

Notify of

Inline Feedbacks
View all comments