We all know that it is not that easy to qualify for a loan in Kenya most especially from banks. Considering the ever-rising rate of unemployment in the country, many people have opted for soft loans from Mobile loan apps. These apps have gained popularity due to their low-interest rates when compared to shylocks and banks.
If you are in hard financial times, we hope the list below is going to be of much assistance.
This app was founded back in 2015 and it is currently the most downloaded loan mobile app in Kenya. They offer loans up to Ksh 50,000.
Formerly known as Mkopo Rahisi, Tala has managed to establish itself as one of the most trusted loan mobile apps in Kenya. They pride themselves on providing loans in the shortest time possible; 5 minutes. They provide loans up to Ksh 50,000. It’s the second most download Loan app on google play.
This is the third most downloaded loan app in Kenya. Stanzi enables clients to apply for loans ranging from ksh500 to ksh100, 000. Their Loan approvals depend on a borrower’s credit score considering also the information provided in the sign-up questionnaire.
Stawika automatically evaluates mobile phone data as well as other factors to assign loans.The process takes less than 5 minutes and your loan is ready.
With more than 100,000 downloads from google play store, Haraka loan app offers Kenyan loans ranging between Ksh500 and Ksh 5,000. All you need is to signup using your Facebook account and apply for a loan. Haraka loan app is a division of the renown Getbucks loans provider.
Saida checks how you have been using your phone to make callSMSsms, data and how you use mobile money services such as M-Pesa to evaluate the amount of loan you qualify for. It takes around 10 minutes for your loan to be processed.
This is another low-interest loan app in Kenya which has more than 50,000 downloads at the moment. Loans are approved instantly.