5 Loan Apps with Low Interest Rates in Kenya

Getting a loan is sometimes necessary, but finding a loan with low interest rates can help you save money over time. If you’re looking for affordable loans, here are five loan apps in Kenya that offer low interest rates to help you borrow smartly.

1. Branch Loan App

Branch is one of the most popular loan apps in Kenya, offering low-interest rates that vary depending on your repayment history. It’s an excellent option if you need a personal loan without being burdened by high interest.

• Loan range: Up to KES 70,000.
• Interest rates: Starting as low as 13% per month.
• Repayment period: Between 4 to 12 weeks.

Apply for a Branch loan here and enjoy affordable rates for fast loans.

2. Tala Loan App

Tala provides personal loans with competitive interest rates, especially for repeat borrowers who have a good repayment history. The app assesses your creditworthiness and offers you loans with tailored interest rates.

• Loan range: From KES 500 to KES 30,000.
• Interest rates: As low as 4% per month for frequent users.
• Repayment period: Up to 30 days, with flexible repayment options.

Download Tala for quick access to loans with affordable interest.

3. Timiza by Absa Bank

Timiza offers low-interest loans to M-Pesa users. With flexible repayment periods and manageable interest rates, Timiza is a great choice for those who need loans without high costs.

• Loan amount: Up to KES 100,000.
• Interest rates: Starting at 6% per month.
• Repayment period: Flexible, depending on the loan amount.

Get started with Timiza and take advantage of low-interest loans for personal and business use.

4. iPesa Loan App

iPesa offers small loans at reasonable interest rates, making it perfect for those who need quick cash without the high fees associated with some loan apps.

• Loan range: Up to KES 50,000.
• Interest rates: As low as 12% per month.
• Repayment period: Typically 91 to 180 days.

Apply for iPesa and borrow with low interest rates that won’t strain your budget.

5. Zenka Loan App

Zenka is known for low introductory interest rates, especially for first-time borrowers. If you’re new to Zenka, you can take advantage of zero-interest on your first loan, which is a huge benefit.

• Loan range: Up to KES 30,000.
• Interest rates: 0% interest on your first loan, then up to 11% on subsequent loans.
• Repayment period: Flexible repayment schedules.

Download Zenka for zero-interest first loans and affordable rates after that.

Pro Tip:

To keep interest costs low, always aim to repay your loan as quickly as possible. Many apps offer lower interest rates for shorter repayment periods, which can save you a lot in the long run.

Conclusion

These five loan apps offer low-interest loans in Kenya, helping you manage your finances without overspending on interest. Whether you need cash for personal use or business, these apps offer affordable borrowing options. Which loan app will you try today?