15 Best Loan Apps in Kenya for Instant Loans 2024 (No Collateral)

Best Loan Apps in Kenya for Instant Loans

In this article you will discover the Top 15 Best Loan Apps in Kenya you can use without Collateral in 2024 via Afrokonnect. In Kenya, there are a number of different fast lending applications that can provide people and companies with quick loans without requiring collateral or documentation.

Do you need money immediately and have been looking for the finest lending app in Kenya? If you’re looking for a helpful overview of the fast loan applications available in Kenya in 2024, you’ve found the ideal post.

Best Application for Instant Loans in Kenya

The proliferation of financial technology has made it possible to get loans from a variety of lending applications in a matter of minutes. The vast majority of Kenya’s loan applications need you to download the apps, fill out the relevant paperwork, and then you will be approved for an immediate loan.

Getting a loan using one of these apps is far simpler than it is through conventional banks, which involve a significant amount of time and work. As a result, if you follow the instructions in this tutorial, you will have the ability to get a loan from one of the most reputable lending applications in Kenya without having to pay a registration fee. Having stated that, let’s move on to the various mobile loan applications and services that are available in Kenya so that you can get started.

15 Best Loan Apps in Kenya in 2024

The following is a list, with no particular order given, of the top 15 best lending applications in Kenya.

1. Tala Loan

Has anybody ever told you about Tala Loan? At the moment, it is Kenya’s most popular lending app, and it is also one of the oldest. You can get the loan-borrowing app from the Google Play store on android or App Store for iOS.

Depending on your digital credit score, the loan app might provide you with as much as Ksh. 30,000 ($250), in as little as five minutes after you submitted your application.

Tala Loan, formerly known as Mkopo Rahisi and having just undergone a rebranding, offers loans to both people and companies at an interest rate ranging from 15% to 20%, depending on the amount borrowed. Download the app from the Playstore, and then create an account with the company.

2. Branch

The Branch Loan app is widely considered to be the finest of its kind not just in Nigeria, but also in many other nations throughout Africa, such as Tanzania and Kenya. M-Pesa serves as the conduit via which Kenyans may get speedy loans from the global lending platform.

Depending on your credit score, the app might lend you up to Ksh. 70,000 ($582) even if you have bad credit. Downloading the app from the Play Store, establishing an account and determining whether or not you are eligible for loans are all that are required of you.

Best Loan Apps in Kenya for Instant Loans in 2024

3. Mshwari

The Mshwari loan app from Safaricom comes in at number three on our list of the best lending applications available in Kenya. The lending app has been providing services for more than seven years, it works in conjunction with NCBA Bank to make loans available over the phone.

In order to be eligible for the services offered by Mshwari Mobile Loan, you need to have used M-Pesa for a minimum of one year. You can get a loan from Mshwari for any amount between Ksh. 5,000 and Ksh. 50,000, ($40 – $400) depending on how much money you need.

Mshwari offers short-term loans for a period of one month, and the interest rate ranges from 7.5% to 8% each month depending on the amount borrowed. On Mshwari, in addition to loans, you may purchase data and airtime, as well as carry out a variety of other M-Pesa-related transactions.

4. Timiza Loan

Another great app in Kenya for getting an immediate loan quickly at a cheap interest rate is Timiza. The ABSA group is the proprietor of the online lending app known as the Timiza Loan app (previously Barclays Bank).

As a consequence of developments in technology, the community financial institution now offers loans through mobile application to individuals who are not already users of the institution.

Are you struggling to make ends meet right now? The Timiza lending app makes it possible to get fast loans, with repayment due within 30 days. Download the app from the Playstore or App Store and register it on your mobile device to get access to up to Ksh 150,000 ($1,200), you can also simply dial *848# on your mobile device to get started.

Best Instant Loan Apps in Kenya 2024

5. Okash

Okash is another another foreign lending app available in Kenya, and like Branch, it does not need a registration fee. The lending app, which was developed using Opera software, offers its services to a number of different countries in Africa, including Kenya and Nigeria.

It has a strong reputation in Kenya for being able to provide quick loans. You can be eligible for a quick loan of up to one hundred thousand dollars using the Okash app, depending on how good your credit is.

If you want to borrow money through Okash, you can start by downloading the app from the Google Play store or App Store.

6. Zenka

When it comes to finding a loan app in Kenya with reasonable rates, Zenka is among the top choices. The online lending platform provides its first-time users with interest-free loans at no cost; for future loans, the site charges a loan fee that ranges from 11% to 17% of the amount borrowed.

You have the ability to get a fast loan ranging from Ksh. 500 to 20,000 ($5 – $150) if you use the Zenka app. The loan can be repaid in as little as 61 days, so there is some leeway in terms of the repayment schedule.

7. MCo-op Cash

We can’t compile our list of the best loan apps for those with bad credit score in Kenya without including MCo-op Cash, a cooperative bank that provides loans quickly to Kenyans. If you use Airtel or M-Pesa, you have the ability to borrow up to 200,000 shillings using MCo-op Cash. In addition to getting loans via the site, you can also use it to purchase things like airtime and data.

Best Loan Apps in Kenya for Instant Loans in 2024

8. HF Whizz Loan

HF Whizz Loan is another one of the lending platforms in Kenya that provides loans to people in addition to enterprises. This platform, like MCo-op Cash app, is available in Kenya.

You can get started with the HF Whizz Loan process by downloading the app on your device. In addition, the app enables you to carry out a variety of additional transactions in addition to the provision of quick loans. Among these transactions include saving money, purchasing airtime, paying bills, and other similar activities. Check Out This Guide If You Want to Open a Successful Hair Salon in Kenya.

9. Zidisha

Zidisha is a name that you may be familiar with if you live in Kenya. There is no cost to register on the app, making it one of the most competitive lending applications in Kenya. The year 2002 saw the beginning of the establishment of the worldwide financing platform.

Borrowing money from Zidisha is possible very immediately if you have a decent credit score and a national ID. To establish an account and submit an application for a quick loan with Zidisha, all you need to do is download the app from the Play Store or App Store it you use an iOS device.

Best Instant Loan Apps in Kenya 2024

Best Loan Apps in Kenya for Instant Loans

10. Berry

Berry is not only one of the greatest loan applications in Kenya, but it is also one of the top apps in the world. The good news for Kenyans here is that Berry provides quick loans without requiring collateral or documentation.

Depending on your credit score, the mobile lending platform may lend you up to Ksh 50,000 ($400), at an interest rate of 8 to 15% and a customizable payback schedule. If you find yourself in need of a loan in a hurry, Berry is able to provide you with a quick loan. You may get started by downloading the Berry lending app from the Playstore.

11. Ipesa

Like M-Pesa, Ipesa is a great way to get a low-interest loan in Kenya. If you are looking for rapid loan apps in Kenya, Ipesa may be able to lend you anywhere from Ksh 500 to Ksh 50,000 ($5 – $400), based on the information in your credit report.

Also, you may return your Ipesa loan whenever it’s convenient for you, with an interest rate that ranges from 12% to 0% for 91 to 180 days. Download the Ipesa app from the Google Play store, then register your phone number in order to qualify for a quick loan.

12. Shika

The Shika loan app, unlike many other loan applications in Kenya was developed specifically to support new and small enterprises in a variety of industries, including agriculture, finance, accounting, and a great many more.

If you are just getting your business off the ground and need some funding, you can apply for instant loans through the lending platform. Downloading the app from the Google Play store and setting up an account there are the first steps in getting started.

13. KCB M-Pesa

When it comes to rapid lending applications in Kenya, KCB M-Pesa is among the most downloaded and well regarded in Kenya. KCB M-Pesa is another one of the lending applications offered by Safaricom, much as Mshwari.

M-Pesa users who subscribe to the lending platform are eligible to receive loans. On KCB M-Pesa, depending on your credit score, you may be eligible for an immediate loan of up to 100,000 shillings at an interest rate as low as 3.6%.

To apply for this loan, all you need is your mobile device, an M-Pesa number that has been registered in your name, and the loan application. You can acquire your loan by visiting the Playstore to download the app and registering for it or you can dial *844# on your telephone keypad.

14. Jazika

Another lending app in Kenya, Jazika, provides rapid loans at low interest rates. Jazika operates in the country of Kenya. It distributes loans through M-Pesa, much like many other lending applications in Kenya, including those we’ve described here.

Depending on the details of your credit history, the Jazika app might lend you up to 100,000 dollars. After downloading the app, all that is required of you is to fill out the form and the funds for your loan will be sent immediately.

Best Instant Loan Apps in Kenya 2024

15. Kash Plus

I was wondering whether you were familiar with the company Kash Plus. It is a trustworthy software and one of the most effective rapid loan applications in Kenya. Low interest rates of 1.3% per month and 16% per year are offered by the lending platform, which makes loans available to both people and corporations.

Loans for both the short term and the long term are offered by Kash Plus. You have the option of borrowing up to Ksh 50,000 and paying it back anywhere from 91 to 365 days later. Visit the Google Play store to download the Kash Plus app and get started if you are in an emergency situation need money for personal usage.



What is the best loan app in Kenya?

In Kenya, there are a number of different top-rated loan applications that provide a low interest rate and a flexible payback schedule. It is up to each individual user to choose which option is the best, but the list that was provided will make it easier to choose.

Which app gives Loans the quickest?

As long as you satisfy their standards, several of the lending apps on our list, including Branch, Tala Loan, Jazika, Okash, and Ipesa, may supply you with quick loans.

How can I get a 50,000 instant loan in Kenya?

The majority of applications that provide immediate loans do not initially provide very large loans in order to minimize financial risk. When you raise your credit score, you give yourself a better chance of being approved for loans. Nevertheless, your credit score will determine the maximum amount that may be extended to you as a loan.

How can I get quick mobile loan in Kenya?

You may receive an immediate loan in Kenya if you download and install any of the apps that were listed above on your mobile device. Create an account, then submit an application for a loan. If you are able to fulfill all of the conditions, your account will be credited immediately.

Best Loan Apps In Kenya

In Kenya, borrowers may choose from a variety of loan applications, each of which has its own set of terms and conditions. Out of the plethora of applications that provide immediate loans, we went over each one carefully to choose the very best.

Conclusion on Best Loan Apps in Kenya for Instant Loans 2024

Before agreeing to the terms of the loan, it is strongly recommended that you take your time going through one of the previously listed applications. To further protect your credit score, do not take out a loan for an amount that is more than what you are able to pay back. What more mobile applications in Kenya for rapid loans do you think we should add to our list? Let us know via the comment section.



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