The top 5 instant mobile loan apps in Kenya are listed below, but this list is updated quite often. We are all aware of how difficult it can be to be approved for a loan in Kenya, particularly one from a bank. Since the innovative introduction of M Shwari in November 2012, a collaboration between Safaricom and the Commercial Bank of Africa (CBA), mobile credit lending has undergone a revolutionary transformation.

Since the service required no prior installations, it was available to almost everyone on the Safaricom network with an active MPESA account.

In 2022, a plethora of suppliers have taken over the industry, all vying for the ever-expanding consumer base seeking short-term, rapid mobile loans. Even though there are many of these suppliers, there are still those that give subpar service, such as parts that charge excessive interest rates, have short payback terms, charge registration fees, or have poorly developed apps.

The top mobile loan apps are listed below in order of popularity, according to downloads, ratings, and reviews from the Google Playstore.

The following criteria are applied: –

• Ratings of 3.8+
• Reviews of more than 6,000
• Over 100,000 downloads

Therefore, a lender must fulfill EVERY requirement listed above in order to be eligible for the list.

1. Tala

This is Kenya’s most well-known loan service, which was launched on March 16, 2014. With more than 5 million downloads and 346K reviews, it presently has a 4.7 star rating. Depending on the length of the payback period, they provide loans with amounts ranging from KES 500 to KES 30,000 and variable interest rates. For 21 days, the interest rate fee is 11%, and for 30 days, it is 15%.
You can get the app at https://shorturl.at/lqsvI.

2. Branch

Branch International launched Branch on March 19, 2015. With more than 5 million downloads and 186K reviews, it presently has a 4.7 star rating. They offer loans with interest rates ranging from 13% to 29% for sums between KES 250 and KES 70,000. Additionally, they provide repayment terms of 21 and 30 days.
You can get the app at https://shorturl.at/bOUY1.

3. Timiza

Absa Group Limited (formerly Barclays Africa Group Limited until 2018) provides the Timiza lending service, which went live on March 15, 2018. It has received over 10,000 reviews, 4,000 downloads, and a 4.2-star rating. It provides loans up to KES 150,000, with starting amounts as little as KES 50. They have a 6.08% interest rate maximum and a 30-day payback period as standard.
The app is available for download at https://play.google.com/store/apps/details?id=ke.co.absa.digitalwallet&hl=en&gl=US.

4. Zenka

Despite being relatively new, Zenka has managed to secure the fourth spot. It was released on November 13, 2018, and is provided by Zenka Finance. With over 500K downloads and over 10,000 reviews, it has a 4.2 star rating. The loan amounts that are available range from KES 500 to KES 20,000. There is a 29% interest rate fee that must be paid back after 30 days.
You may get the app at https://shorturl.at/cnpCM.

5. Kashway

On January 9, 2020, Wakanda Credit Limited released Kashway. It has since received 3.8 stars, 25K reviews, and more than 5 million downloads. KES 500 is the lowest sum that can be borrowed, and KES 50,000 is the maximum. The interest rates are 25-36% of the loan amount with a loan tenure of 14 days and a penalty of 2% daily.
Download the app at https://shorturl.at/bpCIR.