Top 10 instant mpesa loan apps – compare the best mobile loan apps
We carried out intense hours of testing to bring you the top 10 instant mpesa loan apps you can currently download and use on your mobile phone. These apps are easily downloaded from the Google Play Store or by downloading the apk to your phone. Our official tests include downloading the app, applying for a loan, and making full repayments of the loan for each app.
After going through this whole process, we decided that the Tala Kenya loan app is the best all-rounded instant loan apps to mpesa in the Kenyan market currently. Not only is it easy to use but it doesn’t require any deposit to qualify for a loan. In addition to that, the money you qualify for is dispersed in record time. We at saidia counted an instant loan approved within two minutes. This has really put the Tala mpesa loan app on top of competitors such as saida , branch, timiza and ubapesa.
Best Overall mpesa instant loan app:
Let’s have a look at the best overall instant loan apps in Kenya.
Tala Kenya Loan App:
Tala Kenya has a very straightforward installation and registration process. The user interface makes it easy to use and application for a loan is very easy. No need for additional documents or photos.
Runners Up mpesa instant loan app:
Branch mpesa loan app comes in a close second. Very easy to use and loan approval is fast.
Branch Review
Best Saving and Loan App
Timiza is a multi-purpose app. It offers both instant loans and mobile savings account. Very easy to use and loan approval is fast.
Timiza Review
Most downloaded instant mpesa loan apps in Kenya
Table showing Loan Apps in Kenya:
| Loan App | Installs | Function | Interest Rate | Min – Max |
|---|---|---|---|---|
| Tala Kenya | 1M+ | Loan | 11%-15% | 500 ksh -50,000 Ksh |
| Branch | 1M+ | Loan | 10%-27% | 250 ksh – 70,000 Ksh |
| Saida | 500K+ | Loan | 7.5%-10% | 600 ksh – 100,000 Ksh |
| Timiza | 100K+ | Loan and Saving | 1.17% + 5% | 500 ksh – 50,000 Ksh |
| Okash | 100K+ | Loan | 14% | 1,500 ksh – 500,000 Ksh |
| Haraka | 100K+ | Loan | 23.45% | 500 ksh – 5,000 Ksh |
| Okolea | 100K+ | Loan | 0.6%PD | 100 ksh -100,000 Ksh |
| Stawika | 50K+ | Loan | – | – |
| UbaPesa | 50K+ | Market Place | 9%-13% | – |
| Usawa | 50K+ | Loan | – | – |
Top Ten instant mpesa Loan Apps in Kenya
Below, find the list of the best mobile loan apps in Kenya that offer you instant mpesa loans directly to your phone. These apps do not require any security when applying for a loan. Also, the loan application forms you fill for this loans are digital, so no need for paper work or visiting a physical office.
Tala Kenya
Tala is a mobile loan app that is developed and run by tala mobile, formerly inventure. This mobile loan app has over one million downloads on the app store and a 4.7 average rating by users as of July 2018. This is the highest rating-to-download ratio on google play store when it comes to mobile loan apps. It also comes at a very small and manageable download size of 8.4 MBS allowing for fast download without consuming a lot of data. This is also advantageous because it will not use up a lot of space on your mobile phone.
1M+ Downloads
Rating on google playstore: Average 4.7 / 5
Branch
Branch is an app that makes it easy for you to access credit anytime, anywhere. It is developed by a company with the same name as the brand, branch international that has branches in San Francisco and Kenya. This mobile loan app has over one million downloads on the google play app store and a 4.6 average rating by users 63K plus users.
Branch has been one of the most downloaded loan apps in Kenya for a long time. It competes very closely with the Tala loan app that is currently ranked number one in Kenya.
1M+ Downloads
Rating on google playstore:: Average 4.6 / 5
Saida
Saida is a loan app that is available in Kenya which helps you access fast and convenient m-pesa loans. These loans can be used to grow your business , pay your bills or deal with unforeseen emergencies. The company behind the development of this loan app is known as Greenshoe Capital INC, on the google play store, where you can download the Saida app, it has more than 500, 000 downloads. Also amongst the over half a million users who downloaded saida, 5, 000 of this users rated it an average 3.7/5.0.
500K downloads
Rating on google playstore:: Average 3.7 / 5
Timiza
Timiza is a mobile loan app that enables you convenient self-service channels to easily open an account, borrow and transact on the go. Borrowing is one of the major functions that Timiza is focusing on. The company behind Timiza loan app is Barclays, which was recently purchased by Absa group limited. Please note however the app is available to you whether or not you are a Barclays customer. This borrowed money can be used to grow your business , pay your bills or deal with unforeseen emergencies.
100K downloads
Rating on google playstore: Average 3.9 / 5
Okash
The company behind Okash loan app is Opay a Fintech subsidiary of Opera group. This borrowed money can be used to grow your business, pay your bills, or deal with unforeseen emergencies
100K downloads
Rating on google playstore:: Average 4.0 / 5
Haraka
Haraka is the quickest and most convenient way to get a loan while you’re on the go! Haraka can offer you access to credit; anytime and anywhere on the comfort of your mobile phone.
NO BANK ACCOUNTS OR CREDIT HISTORY REQUIRED!
100K downloads
Rating on google playstore:: Average 4.1 / 5
okolea
Okolea is an app that provides instant loans to all Kenyans through their phones and allows them to increase their loan limits every time they repay their loans on time.
100K downloads
Rating on google playstore: Average 3.7 / 5
Stawika
Get Stawika mobile app and get instant loan to your phone via M-Pesa.
100K downloads
Rating on google playstore: Average 3.3 / 5
Ubapesa
UbaPesa is the one stop app that brings together lenders and borrowers in one app. In the Money Market page you will find Borrowers on the left hand side and Lenders on the right hand side. Lenders are those out to make a profit on their money and Borrowers are those seeking to get a loan.
50K downloads
Rating on google playstore: Average 4.1 / 5
Usawa
Usawa gives you access to fast and convenient loans to your M-Pesa. Use our loans to grow your business, pay your bills or deal with emergencies.
50K downloads
Rating on google playstore: Average 3.8 / 5
Conclusion:
The mobile loans lending space has really grown in Kenya over the past few years. This goes to show that there is an appetite for emergency loans in the market. In fact, you can check out even more loan apps that have been released recently in Kenya.
Tala loan app, branch loan app and Timiza app formerly by Barclays (but now run by ABSA) are among the most popular apps in Kenya. This is because of their ease of use and how quickly they send out the mpesa loan once you have qualified.
There are always some advantages and disadvantages of borrowing money from this apps though. So be careful when you do so. You can also check out our 11 must know tips before you borrow a mobile loan to be informed on what you need to know.
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