Have you ever wanted to find out which online loans in Kenya disburse their loans straight via your M-PESA? In this article, we will look at those mobile online applications that make sure that you can access your loan via M-PESA.
Join me as we discuss each of these applications below:
Online loans in Kenya via M-PESA
Saida Loan App
Saida Loan App provides you with money for your everyday use. This online loans provider in Kenya via M-PESA ranks among the most affordable in Kenya.
How Saida Loan App works
- Go to Google Play store and download the Saida APp
- Next is to create an account and answer a few questions
- In order to gauge your eligibility to be able to secure your loan, Saida app will check how you have been using your phone. Ie in making calls, M-PESA usage, data usage among others.
- After this, Saida informs you of the amount you can borrow from them.
- It’s now time to apply for the loan
- Boom, within a few minutes, the loan will get deposited into your M-PESA number.
Moreover, it’s worth noting that you can borrow even up to KES 25,000 for a 7.5% interest rate. All loans need to be paid within 90 days.
Remember the more frequently you borrow and repay the more you can borrow at a lower rate.
Stawika Loan App
Stawika loan app is an affordable online loans in Kenya that pays its loans via M-PESA. This application is provided by Stawika Capital Limited and it offers loans to anyone in Kenya who has the application in Kenya.
If you have the Stawika Loan App, you do not have to worry about any emergencies that may happen now or in the future as all this is taken care of.
How Stawika works in 5 minutes
- Download the application from google play store and register
- Submit your M-PESA statements to Stawika following the procedure outlined.
- After this, you may now view your loan limit borrow.
- The apply for your loan and you will have it under 5 minutes
Moreover, Stawika Loan App in 2019 won the award of the best mobile platform in Kenya. Therefore it is worth assuming that once you start using their app, you will only experience the best.
Tala online loan app has been around for a while now. This mobile loan application has been able to retain more of its clients to come back again and again.
One of the main reasons why this is possible is because Tala charges an interest rate as low as 5% on your loan. Therefore a borrower does not have to worry about paying a huge interest rate.
Besides this, one can borrow up to KES 30,000 which is not bad considering this amount you can do something good.
Zenka Loan app
Zenka loan app is the best mobile online loans app in Kenya offering loans via M-PESA.
How does Zenka App work?
- The first step is to download and install the Zenka app
- Once the app is downloaded, input the amount you would like to borrow from Zenka
- The loan amount will be sent to you via M-PESA in under 5 Minutes
All that’s left is to repay on time and you will be on your way to being able to borrow more. In 2019, this app ranked as the most growing and most preferred mobile platform in Kenya.
iPesa is another popular online loan platform in Kenya via M-PESA for Kenyans. The great news about using iPesa is that there are no hidden costs attached to its interest rate.
Therefore, it charges an interest rate of 12% on its loans. The minimum amount one can borrow is KES 500 up to KES 50,000. All payable between 91 – 180 days.
The steps to follow to access a loan from iPesa
- Install and download the application
- Register using your M-PESA registered and activated line
- Apply for the loan you need and wait for approval
- If approved, you will receive your loan via M-PESA.
Before doing all this, ensure that you are above 18 years of age.
Berry is here to offer its customers with swift and simple loans paid directly via M-PESA.
If you are looking for flexibility and cheap loans between KES 500 to KES 15,000, this is the app to go to.
It is easy and simple to use as all you have to do is download this application and begin borrowing!
Senti offers you hassles online loans via M-PESA.
All loans are to be repaid within 90 days and interest rate charges range from 15% – 20%.
What’s more, is that you can borrow up to KES 70,000. This is enough money to start out a side hassle without having to go through strenuous processes.
PesaFlash is another online mobile lending platform. This platform is secure and is easy to use by anyone in need of some cash.
Like all the other platforms outlined below, one needs to download, install and register in order to access the PesaFlash app.
However, it’s worth noting that it takes an hour to access a loan from PesaFlash which is slightly longer.
Branch is another top loan application for online loans via M-PESA in Kenya.
Over the years that Branch has been in operation in Kenya, there are many success stories.
This is one application where you can access money from anywhere without any hidden costs.
Read more: How to download and Install Branch App
Conclusion on Online loans in Kenya via M-PESA
It is our hope that you have found this article to be the ultimate guide to borrowing money online via M-PESA.