List of genuine loan apps in Kenya 2023
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if you are looking of for list of genuine loan apps in Kenya 2023, Then, check out this list of the best loan apps in Kenya. I have used all of these loan apps, and some of them were just for testing, so I know how they work. So, today I will look at Kenya’s real apps for lending money.

According to a report by the Communications Authority of Kenya, there were more than 59 million active mobile subscriptions in Kenya in 2021. It’s been four years since this report.

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List of genuine loan apps in Kenya 2023

Kenya has 51.39 million people, and more mobile phones than any other device are owned by Kenyans (Computer, TV, radio, etc.).

Because mobile loan apps are easier to use than traditional lenders like banks and MFIs, more Kenyans are likely to sign up for these services.


How do mobile loans work?

A loan that you can get on your cell phone. For instance, you have taken out a mobile loan if you use your phone to borrow money from a lender to help you out of a financial jam.

Most mobile loans in Kenya come from loan apps, but recently, some lenders started offering loans through USSD, which is part of the mobile loan providers.

So, in Kenya, which mobile loan apps are real? Let’s find out.

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Types of Loans Apps in Kenya 2022

Here’s a list of the best loan apps in Kenya for 2022, broken down by type:

1. Mobile Loans offered by Safaricom

They offer these loans right on Safaricom, so you don’t need another app to get them. Among them are:

  • Fuliza
  • Mshwari
  • KCB M-Pesa

2. Loan apps downloaded on Google Play

Here are Google Play’s traditional mobile loan apps. I will only list loan apps in Kenya that are real. Even though they give out loans, some of them do questionable things. If you don’t pay, they will break into your privacy and call your list of contacts.

Here are some new loan apps in Kenya that will be available after 2022:

We had a list of the 20 best Kenyan loan apps. But since then, we’ve changed the article to only list the best loan apps in Kenya. Most companies that gave loans through mobile apps had shut down and taken their apps off of Google.

Back then, if you needed cash quickly, your only options were to go to a bank (which takes a long time) or ask family and friends for help.

These days, you can do almost anything on your smartphone, including getting a quick loan. There are many best instant loan apps in Kenya that let you get a loan to your M-Pesa in less than 5 minutes.

List of genuine loan apps in Kenya 2023

1. Branch Loan App

Branch Loan is the first loan app in Kenya that we will look at. Branch International gave it to Kenyans in 2015, and it has been very popular ever since. The Branch Loan app is the second oldest online mobile lending platform in Kenya, after Tala.

The Branch loan app is available in Kenya and can also be found in Tanzania and Nigeria. Users of the mobile lending app can borrow up to KES 70,000. You can get started with Branch App by downloading it from Google Play, signing up with Facebook, and logging in. The app will then tell you right away if you are eligible for a loan or not. If they agree to give you a loan, they will send it to you through M-Pesa.

Download Branch loan App Now

2. Tala Loan: Best Loan App in Kenya

I used to call it Mkopo Rahisi, but now I call it Tala. Tala Loan App is one of the best and oldest loan apps for mobile phones in Kenya. Tala has been around for a long time in Kenya, and over that time it has become the most trusted mobile loan provider and one of the best instant loan apps in Kenya.

They give out loans of up to $30,000 through an app called M-Pesa. They are proud of the fact that they can give out loans in less than 5 minutes, and if you pay back your loans on time, you can build your credit score as high as possible.

Tala App is one of the most popular money lending apps in Kenya. It has been downloaded more than 5 million times from the Google Play store. To get a loan from Tala, you must download it to your phone and make an account. If they don’t put you on CRB, you’ll be able to choose the terms of your first loan.

Download Tala loan App Now

3. Timiza Loan

Timiza is a mobile money app made by Absa group, which used to be called Barclays Bank Kenya. It is used by one of Kenya’s local banks. As was already said, the popularity of lending apps in Kenya has forced traditional financial companies to try new things. The best thing about Timiza is that, unlike other apps from banks, it is not just for the bank’s customers. Instead, all Kenyans can use it.

In addition to giving loans, the Timiza app also lets people manage their bank accounts.

How to get a loan through the Timiza App:

Get the Timiza app from the Google Play store and put it on your phone.
Fill in your M-Pesa number that you have set up.
Use the PIN that was given to you to turn on your app.
Then you can ask Timiza for a loan.
You have 30 days to pay back a Timiza loan, and you can borrow up to KES 150,000.

Download Timiza loan App Now

4. MCo-op cash

Customers of the cooperative bank of Kenya can use this app to get emergency loans and other bank services. It tells customers how much money they have in their accounts and moves money from their MCo-op Cash to Mpesa or Airtel.

It also lets bank customers use the MCo-op cash account to buy airtime and do other things. You can apply for up to 200,000 shillings, which is 1.5 times your net salary, through the MCOOP Cash App.

Download MCo op Cash loan App Now

5. KCB M-Pesa

I think Safaricom started the trend of mobile lenders, and KCB and M-Pesa worked together to come up with a solution. If you are a registered M-Pesa user, you can access KCB M-Pesa. Since it’s already on your phone, you don’t have to download and install it.

One only needs to click on the KCB Mpesa tab under Loans and Savings and choose a loan. All done. You don’t have to sign up or give them any other information.

Once the amount you want to borrow is less than your loan limit, the money will be sent to your Mpesa. So, KCB M-Pesa is one of the best M-Pesa loans you can get online in Kenya right now.

Download KCB M Pesa loan App Now

6. Mshwari

I couldn’t finish this list without talking about something made by Safaricom. M-Pesa works best with all the other apps. So, just like KCB, M-Pesa Safaricom has a solution for mobile loans called Mshwari in partnership with NCBA Bank. It works on the idea that you have to save money before you can get a loan. They can raise your limit based on how long you stay on Mshwari and how well you pay back your loans.

To get a Mshwari loan, you have to have been an M-PESA user for at least six months, save money with M-Shwari, and use other Safaricom services like voice, data, and M-PESA.

Download Mshwari loan App Now

7. HF Whizz Loan

The HF Whizz app is more than just a way to borrow money. You can do most of your digital business on the app. You can pay for things directly from your HF account, send or receive money, save money on the app, buy airtime, or apply for a loan. Here are the steps for getting an HF Whizz Loan.

Download HF Whizz loan App Now

8. Okash Loan

Opera makes Okash to get into the growing business of lending money. At first, the goal of the application was to give loans to at least 100,000 Kenyans. One of Kenya’s most popular loan apps is the Okash app.

Download Okash loan App Now

9. Zenka Loan

Zenka is one of the best, and getting your first loan is free, which is the best part. When you borrow $2,000, you pay back the same amount. Zenka loans can go up to Ksh 20,000 and start at Ksh 500. If you pay back your loan on time after the first one, Zenka will charge you 11% interest.

From what most of the people who have used the Zenka mobile loan app have said, there are no hidden fees.

During the application process, you are told about all the costs you might have to pay to get the loan. So, they try to keep the cost of your loan as low as possible.

Download Zenka loan App Now

To get an online M-Pesa loan from Zenka App, do the following:

The Zenka app can be downloaded from the Google Play store or the Zenka website.
Sign up for an account and put the amount you want to borrow on the application form.
After you send in your application, they will look it over, and if you get the money, it will go to your M-Pesa.
You can get the money at a nearby M-Pesa agent.
Pay back your loan on time to raise the amount you can borrow.

List of genuine loan apps in Kenya 2023 Conclusion

In Kenya, the number of people using loan apps has grown a lot in the past few years. Even though some lenders charge high interest rates, these apps can be a good way for Kenyans who might not qualify for traditional bank loans to get credit.

Also, mobile loan apps have helped increase financial inclusion by giving small businesses and people who would have had trouble getting loans otherwise access to credit.

As the number of people using loan apps continues to grow, it will be important to keep a close eye on the industry to make sure that borrowers are treated fairly and that loan terms are clear.

I hope you learned one or two things about mobile loan apps in Kenya and can now make smart decisions about your money. From the article, you now know which app in Kenya gives you a loan right away and which app gives you loans right away.

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