What repayment options and term options are available on the best loan apps in Kenya?
Kenya has witnessed a surge in the popularity of loan applications, which offer convenient and accessible borrowing options to individuals and businesses. These applications provide a range of repayment methods and term choices, allowing borrowers to tailor their loans according to their needs. In this article, we will explore the best loan applications in Kenya and delve into the various repayment methods and term options they offer.
1. M-Pesa
M-Pesa is one of the most widely used mobile money platforms in Kenya. It offers a variety of financial services, including loans. With M-Pesa’s loan application, borrowers can select from different repayment methods such as automatic deductions from their M-Pesa account, bank transfers, or manual payments at M-Pesa agent locations. The loan term options typically range from 30 days to 180 days, providing flexibility to borrowers based on their repayment capabilities.
2. Branch
Branch is another popular loan application in Kenya that provides instant loans to individuals. Repayment methods offered by Branch include automatic deductions from the borrower’s mobile money account or bank account, making it convenient for borrowers to repay their loans. The loan terms vary from a few weeks to several months, allowing borrowers to choose a term that suits their financial situation.
3. Tala
Tala is a well-known loan application that offers quick and easy loans to Kenyan borrowers. When it comes to repayment methods, Tala provides borrowers with the option of repaying through mobile money accounts or bank transfers. The loan terms offered by Tala range from 21 days to 90 days, enabling borrowers to select a term that aligns with their repayment capacity.
4. KCB M-Pesa
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KCB M-Pesa is a loan application jointly developed by Kenya Commercial Bank and M-Pesa. It offers loans to both individuals and businesses. Repayment methods available through the KCB M-Pesa application include automatic deductions from the borrower’s M-Pesa account or bank account. The loan terms offered by KCB M-Pesa typically range from one month to six months, providing borrowers with flexible repayment options.
5. Zenka
Zenka is a user-friendly loan application that provides instant loans to Kenyan borrowers. The repayment methods offered by Zenka include mobile money account deductions or bank transfers. Borrowers can choose loan terms ranging from one week to six months, allowing them to select a term that suits their repayment capabilities.
6. Okash
Okash is a popular loan application that offers quick and hassle-free loans to individuals in Kenya. When it comes to repayment methods, Okash allows borrowers to repay their loans through mobile money accounts or bank transfers. The loan terms offered by Okash range from 7 days to 30 days, providing borrowers with short-term borrowing options.
In conclusion, Kenya’s best loan applications offer a variety of repayment methods and term options to cater to the diverse needs of borrowers. Whether it’s automatic deductions, bank transfers, or manual payments, borrowers have the flexibility to choose a repayment method that suits them best. Additionally, the range of loan terms available allows borrowers to select a term that aligns with their financial situation. These loan applications have made borrowing more accessible and convenient for individuals and businesses in Kenya.
FairKash+: online cash loan
5.0 (1 million +)
Security Status
for Android
FairKash+:
online cash loan
for Android
5.0 (1 million +)
Security Status