FairKash+ Loans
Free
In Kenya V 4.0.2
5.0 (1 million +)
Security Status
for Android
for Android
Free
In Kenya V 4.0.2
5.0 (1 million +)
Security Status
With the rise of FinTech in Kenya, accessing loans through mobile applications has become increasingly popular. However, with numerous loan apps available, it can be challenging to determine which ones offer the most favorable interest rates. In this article, we will explore some of the loan apps in Kenya that provide the best interest rates.
Mshwari is a popular loan app developed by Safaricom in partnership with the Commercial Bank of Africa. It offers loans ranging from Ksh. 100 to Ksh. 50,000 at an interest rate of 7.5%. Mshwari also has a savings account feature that allows users to save and earn interest on their savings. One can access loans on Mshwari by dialing *234# on their mobile phone.
Tala is another loan app that provides access to instant loans ranging from Ksh. 1,000 to Ksh. 50,000. The app uses a unique credit scoring system to determine a user’s creditworthiness and offers interest rates ranging from 7% to 15%. Tala loans are repayable within 21 days, and failure to repay on time attracts a penalty fee.
Branch is a loan app that offers quick loans ranging from Ksh. 250 to Ksh. 70,000. The interest rates on Branch loans range from 10% to 27%, depending on the repayment period. The app also has a referral program that rewards users for inviting their friends to download and use the app.
Free
In Kenya V 4.0.2
5.0 (1 million +)
Security Status
for Android
Fuliza is a loan app developed by Safaricom that allows users to complete transactions even when they do not have sufficient funds in their M-Pesa accounts. The app offers loans of up to Ksh. 70,000 at an interest rate of 1.083% per day. The loan balance is automatically deducted from the user’s M-Pesa account when they deposit funds.
KCB M-Pesa is a loan app developed by Safaricom in partnership with the Kenya Commercial Bank. It offers loans ranging from Ksh. 50 to Ksh. 1 million at an interest rate of 1.16% per month. KCB M-Pesa also has a savings feature that earns users interest on their deposits.
Okash is a loan app that provides instant loans ranging from Ksh. 2,500 to Ksh. 50,000 at an interest rate of 5% to 18% depending on the repayment period. The app has a flexible repayment period of between 91 to 365 days, giving users more time to pay back their loans.
In conclusion, accessing loans through mobile applications has become more accessible and convenient in Kenya. With numerous loan apps available, it is essential to choose one that offers favorable interest rates and flexible repayment terms. The loan apps highlighted in this article provide some of the best interest rates in Kenya and are worth considering when seeking a loan.
Free
In Kenya V 4.0.2
5.0 (1 million +)
Security Status
for Android
for Android
Free
In Kenya V 4.0.2
5.0 (1 million +)
Security Status
FairKash+ is approved by the Central Bank of Kenya. Download and use it.
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