Top 7 Loan Apps in Kenya for Quick Cash in 2024

 

Need cash fast? These 7 apps have got you covered!
In Kenya, over 5 million people rely on loan apps to meet short-term financial needs. Whether it's for an emergency or a quick business boost, here are the top loan apps that make borrowing fast, easy, and accessible.

1. Branch

Branch is one of the most trusted loan apps in Kenya. It offers instant loans, no collateral needed, and the application process is entirely online.

• Loan Range: Ksh 250 to Ksh 70,000
• Interest Rates: Starts at 13%
• Repayment Period: 4 to 52 weeks

Pro Tip: Repay your loans on time to increase your loan limit quickly.

Get started with Branch here.

2. Timiza by Absa

Timiza is a product by Absa Bank Kenya, offering convenient mobile loans. It stands out because it also includes bill payment and insurance options on the platform.

• Loan Range: Ksh 50 to Ksh 100,000
• Interest Rates: 6%
• Repayment Period: 30 days

Pro Tip: Use Timiza to pay bills or buy insurance to keep your credit score in good standing.

Sign up for Timiza here.

3. Tala

Tala is among the most popular loan apps in Kenya. It’s known for quick disbursements and flexible loan limits based on your repayment history.

• Loan Range: Ksh 500 to Ksh 30,000
• Interest Rates: 15%
• Repayment Period: 21 to 30 days

Pro Tip: Borrow only what you need to maintain a good credit score with Tala.

Start borrowing with Tala today.

4. iPesa

iPesa allows you to apply for a loan in minutes, with flexible terms. It's easy to use and provides access to quick cash when you need it the most.

• Loan Range: Ksh 500 to Ksh 50,000
• Interest Rates: 12%
• Repayment Period: 14 to 30 days

Pro Tip: iPesa offers lower interest rates the more you borrow and repay on time.

Get iPesa now.

5. Zenka

Zenka provides interest-free loans on your first borrowing, making it a great option if you're trying loan apps for the first time.

• Loan Range: Ksh 500 to Ksh 20,000
• Interest Rates: First loan interest-free
• Repayment Period: 30 days

Pro Tip: Take advantage of the interest-free loan to manage short-term expenses.

Apply for your first interest-free loan here.

6. Ndovu

Ndovu offers personal and business loans with flexible terms. It’s a fantastic platform for growing small businesses with quick access to funds.

• Loan Range: Ksh 1,000 to Ksh 200,000
• Interest Rates: Varies by loan type
• Repayment Period: Flexible

Pro Tip: Keep your business afloat by using Ndovu loans to handle emergency business costs.

Check out Ndovu and use code 47E12AAD.

7. XM Trading

Though not a traditional loan app, XM Trading offers leverage and investment loans to traders, providing extra cash for trading Forex.

• Loan Range: Based on leverage
• Interest Rates: Zero on leverage
• Repayment Period: As per trade duration

Pro Tip: XM offers bonuses on your deposits, which can act as free leverage.

Sign up with XM Trading here.

Conclusion

Loan apps in Kenya have transformed the way we access credit, making it faster and more convenient than ever before. Whether you're looking to fund a business, cover an emergency expense, or simply manage your bills, there's an app for you. But always remember, borrow what you can repay to avoid debt traps.

Which loan app do you plan on using first, and why? Share in the comments!