Apps loan revolution has taken Kenya by storm.

According to a report by The International Association for Mobile Network Operators GSMA, four in 10 Kenyans acquired loans through their mobile phones in 2021, the highest figure across the world.

This craze can be attributed to the great relief the apps provide to majority of Kenyans who have always been underserved by traditional lending institutions with their tedious and often unsuccessful loan issuing processes.

The main advantages of apps for loans in Kenya include:

• Easily accessible from anywhere, anytime.
• Simple registration process.
• Fast approval and disbursement (in minutes).
• No security and guarantors required.

Securing a loan from any of the loaning apps is as easy as A.B.C.

All you need to do is to download the app, fill in the required details, apply for the loan and, voila! Money! In a few minutes, you will be smiling all the way to an Mpesa agent to make your withdrawal.

That being said, it is important to be careful since some apps are phony and out to con you while others charge exorbitant interest rates.

Top loaning apps in Kenya

To help you avoid falling prey to cons, below is a list of the top 20 genuine loaning apps in Kenya and what they offer.

1. Tala

Tala is arguably the most used mobile loan app in the country with over 10 million downloads from Google play.

It has the fastest limit growth in the industry pegged on timely repayment of their loans while late payment attracts a penalty of 8% on the outstanding amount.

Its loan terms include:

• Loans of between 1000 to 30,000 shillings.
• Loan tenure of up to 60 days.
• Interest rate of 9%-18% per month.
• Exercise duty of 20% on daily interest.

2. Zenka

One of the leading loaning apps in Kenya, Zenka prides itself in being the most flexible in the market. This is because it allows loan top-up and repayment date extension.

It has affordable interest rates calculated based on risk. This means that high risk borrowers (based on their credit score) are charged higher interest rates.

The app features:

• Loans amounts of up to ksh30,000.
• Repayment period of 61-180 days.
• Monthly interest rates of between 9%-30%.

3. AsapKash

AsapKash’s has lived up to its mantra; “reliable lending and worry-free use of money” by having favourable terms such as one of the lowest interest rates in the market.

Unlike most apps that lend to borrowers who are aged 18 and above, you have to be at least 20 years old to access a loan from this app.

Its loan terms include:

• Loan amounts of up to ksh15,000.
• Loan tenure of 91 days to 120 days.
• Monthly interest rate of 1.5%.

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4. Ipesa

Ipesa is one of the most popular loan apps in Kenya with over a million users across the country. It does not charge a service fee to process its loans and they can be repaid once or in instalments.

The app offers its users:

• Loan amounts of between ksh500 and ksh50,000.
• Repayment period of 91days-180days.
• Monthly interest rate of 3%-6%.

5. Branch

Branch is an international personal finance app with operations in Africa and India. It has over 40 million downloads making it one of the most popular loan apps in the world.

Besides instant loans, Branch offers other services such as bills payment, money transfer and saving at 15% annual interest.

It offers:

• Loans of up to ksh100,000.
• Monthly interest rate of 2% to 18%.
• Repayment period of 62 days to 365 days.

6. Truepesa

This is one of the newest apps in the market yet highly rated by users. It is barely a few months old but has over 100,000 downloads on Google play.

Like all other apps, Truepesa promises to save you from whatever emergency situation you might be in.

Product features include:

• Loan amounts of between ksh2000 and ksh80,000.
• Loan tenure of 91days-120days.
• Monthly interest rate of 4%-25%.
• Processing fee of 2%-8%.

7. Berry

Berry has curved its niche among the top 20 Kenya loan apps with its simple and swift service. This is extended further by flexible repayment schedules including a 7 days grace period after the due date.

Failing to repay the loan attracts a one-time 10% penalty charge. Its interest does not compound or accrue.

Its loan terms are:

• Loan amounts of ksh1,000 to ksh50,000.
• Loan tenure of 65 days to 120 days.
• Monthly interest rate of 9%-25%.

8. Kashbean

Another sure app is Kashbean. It has good customer relations and promises loans in 3 minutes.

The app advances personal loans, as well as business loans, to its users provided the individuals have a source of income and are able to pay.

Kashbean offers its users:

• Loan amounts of ksh3,00 to ksh50,000.
• Repayment period of 7 or 14 days.
• Interest rate of 3%.

9. Kashway

Kashway is also among the most popular loan apps with over a million users across the country.

It seeks to provide access to quick, easy and safe credit to financially underserved Kenyans. Its interest rate is determined by the amount of money you borrow and the time it will take to repay.

Repaying on time increases your credit limit.

It offers:

• Loan amounts of up to ksh500 to ksh60,00.
• Loan tenure of 91 days to 180 days.
• Monthly interest rate of 2.5%-6%.

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10. Fuliza

While Fuliza is not an app per se, we cannot discuss apps loans in Kenya without mentioning it. Fuliza is an overdraft service by Safaricom that has gained massive popularity among Kenyans.

It allows M-Pesa users to transact via M-Pesa even when they have insufficient funds.

To be eligible for the draft, you have to be an active M-Pesa user for over six months.

Fuliza features include:

• A limit of up to ksh70,000.
• Repayment period of 1 month.
• Access fee of 1%.
• 20% exercise duty on access fee.
• Daily maintenance charge dependent on the amount borrowed.

11. Mshwari

This is another very popular product by Safaricom in partnership with Commercial Bank of Africa (CBA). It offers credit facilities as well as saving services to Kenyans and has over 5 million active users.

To qualify for a loan on Mshwari, you must have used M-Pesa for at least 6 months in addition to Safaricom’s voice and data services.

The platform offers:

• Loan amounts of between ksh100 to ksh50,000.
• Loan tenure of one month.
• An interest of 7.5%.
• An exercise duty of 1.5%, deducted upfront.

12. Opesa

Downloaded by over a million users across the country, Opesa cannot miss a spot in the list of popular loan apps in Kenya.

It allows Kenyans to access instant money with favourable interest rates and flexible repayment options.

It promises customers:

• Loan amount of between ksh1500 and ksh50,000.
• Monthly interest rate of 3%.
• A one-time service fee ranging from ksh100 to ksh600.
• Loan tenure of 91 days to 365 days.

13. Direct cash

Released in February 2021, Direct Cash has done well having gained more than a million users in its short existence period.

It is fast and simple and makes the process of getting a personal loan uncomplicated.

Its users get to enjoy:

• Loans amounts of ksh1,500 to ksh50,000.
• Repayment period of 91-365 days.
• Monthly interest rate of 1-9%.

14. Apesa

If you have struggled elsewhere, Apesa might be the app for you.

It is a well-liked app that offers quick money with less information required. The app is available on Google play but only lends money to persons who are at least 20 years old.

It offers its users:

• Loans of up to ksh15,000.
• Loan tenure of 91 days-120 days.
• Low monthly interest rate of 1.5%.

15. Leja

Like any other loaning app, Leja promises instant loans but sets itself apart by allowing you to borrow multiple loans provided it is within your loan limit.

You are free to pay before the minimum repayment period and the earlier you pay, the lower the interest charged on the loan.

The loan details include:

• Amounts ranging from ksh500 to ksh500,000.
• Repayment period of 61 days to 365 days.
• An interest rate of 1-15% per month.

16. Zash

With such a simple and fast process, it is easy to understand why Zash has over a million users in the country.

Besides, it is one of the most lenient apps since it allows you to request for a loan extension if you don’t have enough money to pay at the lapse of the loan tenure.

Zash offers its customers:

• Loan amounts of ksh500 to ksh50,000.
• Repayment period of 91 days to 365 days.
• A monthly interest rate of 2.08 %.

17. Creditmoja

This is one of the newest apps having been in the market for a little over a year. You have to be between 20-50 years old to qualify for a Creditmoja loan.

The app does not charge a processing fee for its loans and rewards users who repay their loan on time with higher credit limits and reduced interest rate.

Creditmoja offers its users:

• Loan amounts of ksh2,500 to ksh25,000.
• Loan tenure of 91 days to 365 days.
• Monthly interest rate of 1% to 4.2%.

18. Flashpesa

Flashpesa is a unique loan app since it focuses strictly on those in employment and at least 22 years old.

Like other genuine loan apps in Kenya, it is secure and reliable and getting loans is fast and easy.

The app offers:

• Loan amounts of ksh2000 to ksh50000.
• Loan tenure of 91 days to 365 days.
• Monthly interest rate of between 1-3%

19. Meta Loan

Meta is a relatively new app having been released a year and a half ago but has already established itself with close to a million users.

It lends money to anyone including entrepreneurs, employees and students and does not require you to provide guarantors.

It promises its users:

• Loan amounts of ksh1000 to ksh80,000.
• Loan tenure of 91 days – 365 days.
• Monthly interest rate of 4%.

20. UbaPesa

This is a one of its kind app that involves peer to peer lending where members are able to lend and get paid back with interest or borrow and pay back with interest.

You can pay the loan once or in instalments and avoid late payment as it attracts a 10% penalty on outstanding amount.

UbaPesa offers its clients:

• Loan amounts ranging from ksh500 to ksh70,000.
• Interest rate of 10%, 15% for repayment duration of 10 or 20 days. respectively.
• Facilitation fee of 10%.

With the above loan apps in Kenya, you are now spoilt for choice the next time your needs override available finances. Pick one that best suits your needs, download and apply.