60+ Online Loans in Kenya (Updated 2020)

These are the places you can access online loans in Kenya in 2020. The last resort for many of us has been borrowing from creditors.

Banks have been notorious for high-interest rates. Luckily, we have a variety of loan providers that can grant you instant Online loans in Kenya and help you save the situation.

List of online loans in Kenya via Mpesa

Here is a list of emergency loans in Kenya via Mpesa.

1. Shika loan App

Shika loan Application belongs to Alternative Circle, which is a credit company in Kenya. Credit companies are mushrooming at a very high rate in Kenya. However, only a few can meet the need of the borrowers.

As you are about to find out, Shika is one of these heavens sent instant loan creditors. Owing to the economic hardships and the responsibilities bestowed on Kenyans, instant loans have found popularity among people.

Shika online loan app details

• This App is available for Android mobile users in Kenya.
• The loan limit is between Ksh 500 and Ksh 20000
• Only Safaricom mobile subscribers can benefit from this service presently.
• Upon approval, the loan is sent to you via M-Pesa in 3 minutes.
• A 15% facilitation fee will be charged with the loan amount.
• The loan should be repaid in full in a period not exceeding one month (30 days)
• In case of late payment, a 10% rollover fee charged on the owed amount
• A rollover exceeding 60 days will attract a CRB listing

See more on how to borrow from Shika Loan App in Kenya

2. Tala

Tala was among the first online loan in Kenya, launched as Mkopo Rahisi in 2014, and later rebranded to Tala. This Loan App requires one to have a smartphone and a good Mpesa Track record to access their loans.

How does Tala Loan App work?

1. To determine your loan limit, The App depends on your loan repayment behaviour and on reading your Mpesa transaction activities. You shouldn’t delete your Mpesa messages.
2. Download & install the Tala App from the Google Play store
3. Link app to your Facebook account
4. Answer a few personal questions

The loan sent to your Mpesa account and the minimum loan limit is Ksh 500, with a maximum of Ksh 50,000 at an interest rate of 15%.

The loan is to be paid back in weekly instalments for three weeks through Mpesa PayBill number 851900. Loan defaulters are restricted from qualifying for future investments.

See more on how to borrow from Tala Loan App

3. Branch

Branch International Inc is a San Fransico based company with an office in Nairobi. It was launched in Kenya in 2015 and has been active ever since. So far, Branch is one of the best online loans in Kenya.

To qualify for a loan using this App, you need to be a registered Mpesa user and have a first active Facebook account with usernames matching those in your National ID card.

1. Download and install Branch app from Google Play store
2. link the App to your Facebook account
3. provide the required details like a Phone number
4. National ID number
5. Verify your Phone number by clicking on the link sent to your phone via SMS

The minimum Loan limit is Ksh 1000, and the maximum loan limit is currently unknown. The loan is disbursed via Mpesa, and the interest rate is dependent on the repayment of the weekly instalments.

See more on how to borrow from Branch Loan App

4. Online loans in Kenya – Saida loan app

Saida is also using a mobile app to grant loans, just like Tala and Branch. To be eligible for a Saida Loan, your Mpesa/Airtel Money accounts must be very active. The App reads and monitors your transaction and calls activities to determine if you can be able to repay their loan.

To access Saida, download the App from the Play store. Fill in your mobile number and wait for an invitation to obtain loans; the request could take up to 3 -7 days for approval. Saida offers a Minimum loan limit of Ksh 600 with a maximum of Ksh 25,000 at an interest rate of 10%.

This loan is disbursed through Mpesa and is repaid in the same way via Mpesa Paybill number 854400 for 30 Days. Defaulters are handed over to CRB to be blacklisted.

See more on how to borrow from Saida Loan App

5. Online loans in Kenya – OKOA loan app

Okoa Stima was founded by Kenya Power in partnership with Safaricom in 2015 and is currently active. It comes in handy when you don’t have enough funds to pay for electricity.

The minimum loan amount is Ksh 100 and a maximum of Ksh 2000 at an interest rate of 10%. The loan is disbursed and repaid through Mpesa and has a duration of 7 days.

See how to Okoa Stima

6. Zidisha Loans

Zidisha and international firm, which was found in 2008 and has been active ever since. It is a peer to peer lending platform, which means that it is a platform for lending money to individual or business organizations via an online platform that matches creditors directly to borrowers.

Zidisha is a non-profit organization that connects borrowers from Kenya and across Africa, with creditors from North America and Europe. To qualify for a loan with Zidisha, you need to;

• Be employed or have an active business.
• Have ethical conduct and reputation
• Have a good credit score record
• One should also have an excellent online presence to be able to respond to Zidisha queries and products on their website.
• You also need to hold a Facebook account with good social connections.
• Reside in a country where Zidisha currently operates.
• Be able and committed to posting frequent updates and reviews regarding the use of the loan and progress of the business on the Zidisha website.

7. Timiza App by Barclays

One of the recently launched Loan Apps in Kenya is a beautiful loan product from Barclays, Kenya. The best thing about Timiza is that it is open to anybody with a mobile phone. This is good since you don’t need a Barclays account to use the Timiza App.

It is also suitable for saving, and you increase your chances of getting a loan by depositing money into the App through M-Pesa.

If you are not using a Smartphone, you can still access the loan services from Timiza by dialling *848# on your mobile phone.

8. Stawika Loan App

Stawika loan App is a revolutionary platform that offers mobile loans in Kenya. This article will tell you more about the App and how you can secure a loan with Stawika App.

Stawika loan App is one of the mobile lending apps, which is versatile compared to other apps. This application gives you various options that other free loan apps won’t offer you.

This App from Stawika Capital Limited has been giving small loans and credit support to Kenyans for a while now. Stawika Loans are sent within minutes to the borrower.

One thing you can’t help but admire about Stawika Loan App is that their registration process is straightforward and free, unlike some apps that will require you to pay some money.

The last I checked, Stawika had a customer base of more than 170,000 people, which means that people are quite pleased by the lending app.

What’s more, Stawika Loan App has played a significant role in the development of SMEs by dispatching specific credits such as Capital lending and invoice factoring.

How to Borrow from Stawika Loan App

10. PesaZone Loan App

NO Paperwork, NO Questions Asked! You can borrow from KES 250 to KES 15,000/= from the App and receive the cash via M-Pesa from anywhere in Kenya without any guarantors, security, or office visits!

To start with, PesaZone is the most simplified peer to peer lending application in Kenya. Peer to peer lending is a form of borrowing where one person with money lends money to someone else who needs money.

But there has to be a referee who oversees the transactions and makes sure that the debtor pays back the money to the lender.

So I have 500 Ksh, and you need 500 Ksh, let’s meet at PesaZone so I can lend you the money, and in case you refuse to pay back, PesaZone already has your details, so they can list you on CRB or follow up and penalize you. I hope you got what I was trying to explain there.

How to borrow from PesaZone Loan App

Which is the Best Instant Loan App in Kenya?

The following loan apps in Kenya have been barred from blacklisting individuals on CRB. Some have even left the Kenyan market

1. Izwa Loans
2. Hela Pesa
3. Stawika
4. Fair Branch
5. M-KOPAY
6. Fair Money
7. Phedha Loans
8. Aspira
9. Carbon
10. Instant Cash
11. Okolea loan app
12. Okoa Pesa pap
13. Kenya Quick Loans Market
14. Top Loan Lenders
15. Pezesha
16. Lendi mkopo
17. Kua
18. PesaFlash
19. Peso Loans
20. MB-Kash
21. Okoa Cash Loans
22. Duta
23. Lendy LOANS
24. LionCash
25. Kopa Jirani
26. Mshiko Chap
27. mKopa
28. Kava Personal Loans
29. MKash Bee
30. HiCash Quick and Easy Loans to MPESA
31. Senti Loan app
32. Eazzy Loans
33. Zash Loan
34. Tajiri
35. Kashway
36. Palm Loans Kenya
37. Kuwazo
38. Fululiza Senti
39. UbaPesa
40. Fintech Loans
41. Branch Loan app
42. i-Save Mobile
43. Okash loan app
44. Imarika Credit
45. Opesa Loan App
46. Fuliza Branch
47. Investor
48. Zenka Loan App
49. FlashPesa
50. Loanika
51. Saida loan app
52. tumaPesa
53. Kash Pesa Loans
54. Afrika loans
55. Kenya Quick Loan Shop
56. Umba loan app Formerly known as Mkopo Kaka
57. iPesa loan app
58. Loans Chap Chap
59. OkoaMia
60. Hikash
61. Tala Loan App
62. PesaPata

Online loans in Kenya – Increasing Loan Limit

We have been receiving numerous emails from our readers, talking about Mobile Loan Apps in Kenya, and how or what can be done to increase the loan limit. One subscriber called Jane wrote to me asking me how she can advance her Mshwari loan limit from Ksh 200 to a higher amount.

Well, after doing my research and contacting the loan providers, I was able to learn a few tactics which are true and confirmed by the loanees. Mobile loans are usually given with no security at all. Some rely on your CRB Status.

As you know, most of the loan providers are afraid of losing their money, and that is why they ask for some form of security, such as a payslip or logbook, before advancing a loan.

However, with the loan App’s NO security is required at all. All they need is some valid information from you to confirm that you are indeed human and not a ghost. So how do they know what to give you?

Loan apps in Kenya depend on the information you give them like full name and National ID number and data collected from your sim cards, such as Mpesa transactions and your call history to determine the amount of loan you qualify for.

This information helps them to determine your creditworthiness. So if you are used to topping up your Airtime with Ksh 20 twice a week, it’s high time you change your habit by increasing your top-up amount and frequency.

A mobile loan App is usually an automated program that can handle a large number of requests at a given time.

The App is programmed to look at given figures before advancing a loan to a clientele. So in-case you do not qualify for free credit, do not take it personally. It’s just the system.

Here is how you Increase your loan limit

Here, I have listed options and steps you can take to qualify for a higher loan limit.

1. Download and keep your Loan app in advance

As human beings, you never know when you run out of cash. And as mentioned above, the Loan app reads information from your phone from time to time.

2. Use mobile payments frequently

Many mobile carriers offer a wide range of mobile payment services, e.g., Mpesa, Lipa Na Mpesa, etc

Ensure you regularly use these services, whether buying airtime credit or paying for goods or services. Doing this enables you to leave behind transaction trails in the system database that proves that you use that particular service.

Do not delete mobile payment SMS messages.

Whenever you receive or send money via any mobile payment service (Mpesa, Airtel Money, Orange Money, etc.), do NOT remove the messages.

This goes for when you purchase airtime or pay for goods and services via these platforms.
Most of the loan apps scan your SMS messages for proof that you indeed transact via this channel and hence sees your ability in repaying the loan.

Activate your social media status

In this digital age, it would be almost criminal to lack any online footprint of your existence. Being on social networks, e.g., Facebook and Twitter, pose a significant advantage because most loan apps require one to link the App to Facebook to make one eligible for a loan via the App.

Invest in a reliable smartphone device

It is excellent to keep up with the ever-changing trends of technology. However, do not misinterpret us. We are not telling you to buy the most expensive and latest phone or tablet to stay technologically relevant.

Try and invest in a low budget smartphone, preferably an android phone, to be on the safe side because most loan apps require a compatible smartphone as a pre-requisite to enable you to access a loan via their App.

Earlier loan repayments

Like we said earlier, automated systems mostly run free loan provider services. The more excellent the trail you leave in their database, the sweeter they will ‘treat’ you.

Request for a loan occasionally.

Requesting a loan and making early repayments increases your digital footprint in their system, thereby improving your creditworthiness, thus provides you access to a much more considerable loan amount in the future.

Save frequently

Although this may not apply to loan apps, it refers to loans offered directly by carrier operators, e.g., Mshwari. As they usually say, “The more you save, the more your chances of increasing your loan amount.”