In today’s article, we will list online M-Pesa loans in Kenya as of today. There are times that you may be in need of accessing online M-Pesa loans in Kenya. Not to worry, there are various online mobile money apps that disburse their loans through M-Pesa in Kenya.
We will detail how to access instant M-Pesa loans without hassle wherever you are in Kenya.
Top List of Online M-Pesa loans in Kenya
Below, we will discuss the various places in which you will be able to get a loan from each time you need quick help.
1. Zenka Loan App
Zenka mobile loan app is the best online M-Pesa loan app in Kenya. One can access a loan from this App just under five minutes. Moreover, based on the reviews shared by most of its users, the Zenka mobile loan app has zero hidden costs to its customers.
All the costs that you might need to incur while accessing the loan are made known to you during application. As a result, your loan cost is made to be as affordable as possible.
In order to access the online M-Pesa loan from Zenka App:
- Download Zenka app from the google play store or the Zenka Website
- Register your account and then fill in the application form with the amounts you need to borrow.
- Once you have submitted your application, it will be reviewed, and once approved money will be sent to your M-Pesa.
- You can withdraw the money from an M-Pesa agent near you.
- Make sure to repay your loan on time in order to increase your loan limit.
2. Stawika Loan App
Stawika loan App is another innovative online mobile lending platform that uses M-Pesa for its loans.
This App is quite simple and straightforward to use. All that you need to do is to have an android phone, download and install the application.
Once your loan is approved, they will send you the money via M-Pesa.
3. KCB M-Pesa Loan
If you are a registered M-Pesa user, then you have access to KCB M-Pesa. Since it is already on your mobile phone, you do not have to go through the pains of download and install the application.
One only needs to click on the KCB Mpesa tab under loans and savings and then select Loan. That’s it. No registration or further details are required from you.
Once the amount you have requested is within your loan limit, the loan amount will be sent to your Mpesa. KCB M-Pesa, therefore, ranks the list of the best online M-Pesa loans in Kenya today.
4. Tala Mobile App
Tala Loan app is among the best and oldest mobile loan applications in Kenya. Over the number of years it has existed in Kenya, Tala has grown to be the most trusted Online M-Pesa loan provider.
Moreover, it is important to note that the Tala App will determine your loan limit based on your M-Pesa activities. And also depend on whether or not you are active on Facebook.
The minimum amount one can borrow from Tala is KES 500 while the maximum amount is KES 50,000.
One main reason for you to borrow from Tala is that it allows you to repay your loan in weekly installments, therefore, minimizing your burden.
Download and install the Tala Loan app today in order to access online Mpesa loans from them.
Timiza is an online Mobile money app by Absa group formerly known as Barclays bank Kenya.
It’s worth noting that apart from Timiza app also serves as a bank account whereby one can manage their account. On top of this, one is able to access an M-Pesa loan from them.
How to access online M-Pesa loan from Timiza App
- Download and Install Timiza app from Google Play store
- Fill in your registered M-Pesa number
- Activate your application by using the pin shared with you
- You can then apply for a loan from Timiza
Timiza loans have a repayment period of 30 days and one can borrow up to KES 150,000.
6. Shika loan
Shika is an online mobile loan application. Through the Shika loans app, one is able to access an M-Pesa loan in under 3 minutes.
Shika is unique in the sense that each customer gets to choose their repayment period. it could be either daily, weekly, or even monthly.
In order to access a loan from Shika app:
- Download and install the Shika loan app from Google Play store or their website
- Register your details
- Request for a loan and wait for approval
- The approved loan will be sent to you through M-Pesa
Get the Shika loan App today and access quick and secure loans from your mobile phone.
7. Branch loan app
Branch loan app is the second oldest online lending mobile platform in Kenya after Tala.
One needs to be an active user of Facebook in order to qualify for a loan from Branch on top of being an active M-Pesa user.
You can borrow as much as you would like beginning from a minimum of KES 1,000.
Moreover, it is worth noting that branch repayment is required to be made on a weekly basis.
8. PesaPap Loan App
PesaPap loan app is an online M-Pesa loan application provided by Family bank Kenya.
It is a secure and convenient way to access up to KES 50,000 through your M-Pesa.
All you need to do is to download and install this application from the google play store. Please note that one does not need to have an account with Family bank in order to access a loan using PesaPap.
9. Saida Loan App
Another way to access an online M-Pesa loan in Kenya is by using the Saida loan App.
I like this application because it is slightly non-intrunsive as one does not have to link their social media accounts with it. All that one needs to be is to have an active M-Pesa profile.
However, Saida loan app is quite slow as it can take up to 24 hours before your loan is approved.
Besides this, one is able to access a minimum of KES 600 through M-Pesa as a loan to a maximum of KES 25,000.
10. Okolea Loan App
Okolea loan app offers instant loans through M-Pesa. The good news about using Okolea loan app is that you can take simultaneous loans as long as you are within your loan limit.
The minimum amount to borrow if KES 500 and a maximum of KES 50,000.
If you have not yet tried Okolea, try it out today and let me know your thoughts about it.
Is it wise to take an online M-Pesa Loan during the Pandemic?
Yes, it is wise to secure a loan from any of the platforms listed above. The good news is that the government has announced that no Kenyan will be listed with the CRB if they fail to make payments on time.
Moreover, there is a high probability that the cost of securing a loan online might slightly drop. However, this is not quite a sure bet but a probability.
However, if you are able to keep away from borrowing, then try as much to do this.