Are you looking for the most affordable loan apps in Kenya with low interest rates and fast approval? Here’s a list of the top 10 loan apps that offer quick, reliable, and flexible financial solutions for your short-term needs.
Table of Contents:
1. Zenka – 1% Daily Interest
Zenka is one of the most trusted mobile loan apps in Kenya. With a daily interest rate starting at just 1%, it provides instant loans ranging from KSh 500 to KSh 30,000. First-time borrowers often enjoy zero-interest promotions. The application process is quick, with money disbursed to your M-Pesa within minutes.
2. Branch – 1.2% Daily Interest
Branch is a global fintech leader that offers loans with interest rates as low as 1.2% per day. It uses artificial intelligence to assess creditworthiness and offers personalized loan limits that grow with responsible repayment behavior.
3. Tala – 1.3% Daily Interest
Tala has served millions of Kenyans with reliable mobile loans. Its daily interest rates begin at 1.3% and the loan limit can grow to over KSh 50,000 with consistent repayment. The app also provides financial education tips to improve user financial literacy.
4. iPesa – 1.5% Daily Interest
iPesa offers personal loans directly to your M-Pesa. With interest rates from 1.5% daily, it is known for its ease of access, short application process, and flexible repayment periods ranging from 14 to 30 days.
5. Okash – 1.8% Daily Interest
Okash provides quick loans with interest rates starting at 1.8% daily. It features a clean user interface and quick verification steps. Borrowers can access loans between KSh 2,500 and KSh 50,000 instantly.
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6. Kashway – 1.9% Daily Interest
Kashway provides loans through an Android app, with daily interest rates of 1.9%. It is popular for quick approvals and high customer satisfaction ratings, especially for repeat users.
7. Okolea – 2.0% Daily Interest
Okolea has been a reliable option for digital loans in Kenya. It offers quick loan approvals with a 2.0% daily interest rate. The app tracks your payment history to increase your limit and reduce interest over time.
8. Haraka – 2.1% Daily Interest
Haraka means “fast” in Swahili, and true to its name, it disburses loans instantly. With a daily interest of 2.1%, users can borrow up to KSh 5,000 with minimal requirements.
9. Asapkash – 2.2% Daily Interest
Asapkash offers a 24/7 loan application process through its online platform. It’s ideal for emergency borrowing with fast approval and reasonable interest rates starting at 2.2% daily.
10. LendPlus – 2.2% Daily Interest
LendPlus provides instant loans of between KSh 500 and KSh 40,000 with a daily interest rate of 2.2%. Its app is available on Android, and the process is completely digital, making it one of the most convenient options for Kenyans.
Mobile loan apps in Kenya have revolutionized access to credit. While interest rates vary, it’s crucial to choose a platform that aligns with your repayment ability. Always read terms and conditions carefully before borrowing, and ensure timely repayment to avoid additional charges or penalties.
