Here is a list of the best loan apps in Kenya:

1. Branch Loan App

The first loan app in Kenya to review is Branch Loan. It is a popular app that was introduced to Kenyans in 2015 by Branch International. The branch loan app is the second oldest online lending mobile platform in Kenya after Tala.

The Branch loan app is not only available in Kenya but can be found in Tanzania and Nigeria. The mobile lending app gives its users loans up to KES 70,000. To get started on Branch App, you download it from Google Play, use Facebook to signup, and log in, and automatically you will know if you qualify for a loan or not. If you are approved for a loan, you will receive it through M-Pesa.

2. Tala: Best Loan App in Kenya

It was initially known as Mkopo Rahisi and rebranded to Tala. Tala Loan app is among the best and oldest mobile loan applications in Kenya. Over the years it has existed in Kenya, Tala has grown to be the most trusted mobile loan provider and one of Kenya’s best instant loan apps.

They offer loans up to 30,000, and the loan is disbursed through M-Pesa. They pride themselves on giving loans in less than 5 minutes, and you will build your credit up to the maximum amount by repaying your loans in time.

Tala App has more than 5 Million downloads on the Google store and is considered one of Kenya’s most popular money lending app. To get a loan from Tala, all you have to do is download it to your Smartphone and create an account. If you are not listed on CRB, you will get your first loan to choose the payment terms.

3. Timiza

Timiza is an online Mobile money app by Absa group, formerly known as Barclays bank Kenya, one of the local banks in Kenya. As mentioned earlier, the lending app craze in Kenya has forced mainstream financial players to innovate. Unlike other apps from banks, the best thing about Timiza is that it is not limited to the bank’s customers alone but instead available to all Kenyans.

It’s worth noting that apart from offering loans, the Timiza app also serves as a bank account to manage their account.

4. MCo-op cash

This is a loan app that enables the co-operative bank of Kenya customers to access the bank services, including emergency loans. It gives customers account balances and transfers cash from their MCo-op cash account to Mpesa, Airtel.

It also allows bank customers to purchase airtime from the MCo-op cash account, among other services. With MCOOP Cash App, you can apply for up to a maximum of 200,000 shillings of 1.5 times your net salary.

5. KCB M-Pesa

I believe Safaricom set the ball rolling for mobile lenders, and KCB, in partnership with M-Pesa, came up with a solution. If you are a registered M-Pesa user, then you have access to KCB M-Pesa. Since it is already on your mobile phone, you do not have to go through the pains of download and install the application.

One only needs to click on the KCB Mpesa tab under loans and savings and then select Loan. That’s it. No registration or further details are required from you. Once the amount you have requested is within your loan limit, they will send the loan amount to your Mpesa. KCB M-Pesa, therefore, ranks the list of the best online M-Pesa loans in Kenya today.

6. Mshwari

I could not finish this list without mentioning a Safaricom product. All the other Apps work best with M-Pesa. So just like KCB, M-Pesa Safaricom, in partnership with NCBA Bank, have a solution for mobile loans dubbed Mshwari. It operates on the principle of saving for accessing a loan. They can increase your limit depending on how you keep on Mshwari and repay your past loans.

To qualify for a Mshwari loan, all you need is to be an M-PESA subscriber for six months, save on M-Shwari and actively use other Safaricom services such as voice, data, and M-PESA.

7. HF Whizz Loan

HF Whizz is more than a lending app, and it offers so much more where you can do most of your digital transactions on the app. These include: Paying for goods directly from your HF account, money transfer, Saving on the App, Buying airtime, and, most importantly, applying for a loan. Here is how to get an HF Whizz Loan.

8. Okash Loan App

The Opera software develops Okash to tap into the growing money lending business. The application started with a target of providing loans to at least 100,000 Kenyans for a start. Currently, the Okash loan app is one of the most popular lending app being used in Kenya.

9. Zenka

Zenka is one of the best, and the best thing is that you get your first loan free. When you apply for 2000, you pay back 2000. Zenka loans start at Ksh 500 and can go up to 20,000. After the first free loan, the Zenka loan will charge an 11% interest fee if you repay your loan on time.

Moreover, based on the reviews shared by most of its users, the Zenka mobile loan app has zero hidden costs to its customers. All the costs you might need to incur while accessing the loan are known to you during your application. As a result, your loan cost is made to be as affordable as possible.

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