New Loan Apps that Actually Work in 2020

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Is your loan limit not improving when using common money lending apps? Here is a full list of all new loan apps in town to watch come 2020.

Most of the loan apps joining the market end up being useless and a waste of time. For example, they ask you to pay a certain amount before they even consider giving you a loan.

Why on earth should you pay to get a loan? Instead of you paying for the loan, why don’t they deduct it directly from your loan as an upfront payment like most banks do?

And not to mention the loan amount is usually low than you expected. In this post, we’ll go the extra mile to list all the loan apps that require a down-payment before giving you a loan.

Related: Where to get Emergency loans in Kenya.

On the other hand, when using old apps, you reach a point and they won’t give you a loan anymore. Or your loan limit remains the same besides being a loyal customer and playing by the rules. Why? Perhaps your loan behavior pattern changed.

Without wasting much time, let us jump to our list of new loan apps in town. That is what you came here for, is it?

New Loan Apps that Actually Work in 2020.

Note the following loan apps are listed in no particular order but according to Google Play store ranking. It must be remembered, Google store apps ranking changes with time depending on the app’s popularity, user reviews and the number of downloads.

Without much to do let’s get started.

iPesa Loan App

iPesa app is among the latest loan apps in Kenya. The app has more than 1,000,000+ downloads on Play store alone. The app is 6.9 MB in size and requires Android version 4.4 and up to run.

This loan app is fast in terms of registration and loan disbursement. That is if you have a good credit history and you meet their loan requirements.

In addition to the high-interest rate of the charge, iPesa has a maximum loan repayment period of 14 days regardless of the loan amount.


  • High-interest rates.
  • Fixed loan amount – You can’t choose the loan amount you need and neither the loan duration.
  • Short loan repayment period 14 days!
  • Be ready to receive plenty of SMSes in case of late repayment.

Zash loan App – New

Next on our list is Zash loan app. Although I haven’t used this app personally, but based on Google play store reviews, it seems like a great app to me.

Zash app has a start rating of 4.2 which is based on a total of 2,797 user reviews at the time of this writing. The app users claim fast loan disbursement on a record of 10 minutes.

One user was lucky enough to have her loan limit increased from Ksh 500 to Ksh 3,000 due to good behavior in terms of loan repayment.

With a size of 19 MB, the loan app currently has more than 100,000+ downloads and requires Android version 4.4 and up to download and install.

Given these points, Zash app has minimum loan limit of Ksh 500 with varying interest rate (A bit high compared to other apps) depending on the loaned amount.


If you default on your loan even for a day, they will CALL and SMS everyone on your Phone book.

New Loan Apps – Hikash Loan App

Much can’t be said about this loan app as nobody knows its base of operation. But according to Google Play store reviews, one can tell that they are paid reviews rather than genuine.

Hikash app claims to offer loans between Ksh 700 to Ksh 30,000 with the same interest rates of Tala loan app. Let’t us hear your user experience with this loan coz we at Kanjwa didn’t find time to test it.

FlashPesa Loan App

FlashPesa app is a mobile loan product of a local Fintech company based in Nairobi Kenya. The loan app provides fast unsecured credit loans straight to your M-Pesa account.

FlashPesa app offers flash loans of between Ksh 2,000 and Ksh 50,000 at an interest rate of 12% APR ( Annual Percentage Rate) with zero service fees.

Loan Features

  • The app offers loans ranging from Ksh 2,000 to Ksh 50,000.
  • Flexible loan duration periods of 91 days to 180 days.
  • Variable interest rates with the highest being 24% APR.

Senti Loan App

Moving on with our list of new loan apps in town, we shift our focus to the Senti loan app which is a micro-credit mobile loan app that is owned by Roamtech Solutions. Senti loan interest rates vary and are dependable on the loan repayment period among other charges.

They offer two loan repayment options that let you choose what works for you. Senti interest rate is as follows:

A 14 day loan repayment period coupled with a one time fee of between 10-15% of the loaned amount
And, a 30-day repayment term with a one-time fee of 15% of the principal amount.

PesaFlash Loan App

PesaFlash Loan App is the newest instant mobile loan app in Kenya. The loan app offers both personal and business loans which are fast, affordable, and easy to apply.

Currently, the loan app has over 100,000+ installs on google play store and is rated 4.6 by a total of 1,301 users.

PesaFlash loan app requires a minimum Android version of 4.0.3 and up and takes a small size of 13 Mb to download and install. (Dependent on device type and memory).

With the PesaFlash loan app, you can get personalized or business loans starting from Ksh 2,000 up to 50,000 depending on your credit score and loan eligibility.

Generally speaking, that wraps our list of latest loan apps. Be sure to check out this post later during the year for more new and working apps.

Loan Apps that Require Registration Fees

As promised, here is a bonus list of loan apps that require your to pay for a registration fee before requesting for a loan.

  1. Utunzi loan app – This app offers a minimum loan amount of Ksh 700 and requires you to pay an upfront fee of Ksh 200 for CRB check.
  2. Ulezi app has a minimum loan limit of Ksh 150 and requires you to pay between Ksh 250 – Ksh 300 as registration fee.
  3. Kano appĀ  has a loan limit of Ksh 700 and you have to part with Ksh 350 as membership fee before getting a loan.
  4. Upazi loan app requires Ksh 250 for registration for a minimum loan amount of Ksh 150. Quite ridiculous! Ha?
  5. Dolax appĀ  You have to pay Ksh 250 upfront and then expect a loan of Ksh 150
  6. Craft app – Ksh 250 registration fee for a loan of Ksh 300!
  7. And lastly, Usawa loan app need you to part with your last Ksh 400 as registration fee for a loan of Ksh 700.

Given these points, let us hear your new loan app experiences in the comments section below. And lastly, if you found this post insightful, why don’t you go ahead and share it on social media by clicking on the share button below.

Raphael M

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