Have you ever wondered about where to get instant loans in Kenya? Join me in this article as we discuss where to get these loans in detail.
There comes a time in our lives when we need an instant bailout. These ten instant loans in Kenya will give you an idea of where to go to seek financial help in times of need.
Top 10 instant Loans in Kenya
Here is a list of places you can get instant loans in Kenya.
1. FinCredit Ltd
FinCredit Limited was formerly known as AAR credit, and it is part of the AAR group of companies. This microfinance firm operates both in Kenya and Uganda.
In Kenya, it is known as one of the best among the ten places to get instant loans in Kenya in 2020.
To provide seamless credit to its customers, FInCredit limited has an app on Google play store services known as JustCash mobile application
Just dial *424# to download this app. Moreover, their credit services run 24/7; hence you can access instant loans from anywhere anytime.
2. mKey loan
mKey loan is an application provided by Finserve Africa, a subsidiary of Equity group Kenya. This application ensures that you can access your borrowed amount straight to your M-PESA number.
The minimum amount that one can borrow is KES 500, while the maximum amount is depended on the creditworthiness of the customer, among other factors.
Tala loans is another customer-centric application offering instant loans to customers in Kenya.
This loan application is famously known all over the country as it has been around for a while now.
Moreover, its worth noting that the only primary requirement to fulfill to be able to secure a loan from Tala is that you should be an active user of Facebook.
Interest rates charged by Tala could go up to 15% while the minimum amount of money one can borrow is KES 500. All loans borrowed have a repayment period of one month.
Download and install the Tala loan app from google play store.
GetBucks Kenya is an online loan accessible to Kenyans in a secure way.
One only has to log into the GetBucks website. Here select personal loans. One can borrow up to KES 200,000 deposited into your M-PESA number.
5. KCB M-PESA
The Kenya Commercial Bank, in conjunction with M-PESA, offers savings and credit facilities to all M-PESA users.
This loan facility is the quickest to acquire even without bundles as you only need to have your Safaricom line with an activated M-PESA menu.
Additionally, loans attract an interest rate of 7.5%, and it is usually only a matter of seconds to get the money in your M-PESA account.
6. CBA LOOP Loan
Loop application is one of the instant loan apps in Kenya that are available for Apple phone users.
The Commercial Bank of Africa provides the Loop app, and one can borrow up to KES 3000,000 with a repayment period of 36 months.
The more you have a good credit rating, the easier it is for you to access a cheaper loan from Loop application.
Loop is a convenient and secure way to secure a considerable amount of loans without going through the hassles of conventional borrowing.
7. Fuliza by Safaricom Loan
Fuliza is an overdraft loan service offered by Safaricom to its customers.
In this period of panic shopping, there is some comfort that comes with knowing that someone got your back, especially when you have picked more than you can pay.
With Fuliza, you just pay the overdraft amount at an interest rate of as low as 5% over one month.
Enjoy the ultimate convenience in your shopping experience by dialing *243# to join today.
8. NIC Now Loan
NIC Now is an instant mobile lending application offered by NIC bank Kenya. However, this application is only open to the NIC Bank customers as one as to register in any of the bank branches to gain access to the app.
NIC Now loan app can be downloaded from the Google Play store. Moreover, this loan attracts an interest rate of 17.56% for 30 days.
M-Shwari is another loan service provided by Safaricom to its users.
Moreover, these loans are easy to get and slightly cheaper than all the other loans in the market, as their interest rate is at 7.5%.
One can borrow from as little as KES 100 to be repaid for 30 days.
10. HF Whizz Loan
Whizz loan is an instant loan service provided by the housing finance corporation.
Their loans are also quite cheap as they attract an interest rate of 7.75% over 30 days.
Moreover, one can borrow up to KES 50,000.
Download the Whizz app from Google Play Store.
Conclusion – 10 Instant Loans in Kenya
The loan apps above are the best and quickest places for you to secure a loan when in an emergency.
Please comment below about your experience in using some of the applications listed above. We would love to hear from you!