FairKash+ Loans
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In Kenya V 4.0.2
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for Android
for Android
Free
In Kenya V 4.0.2
5.0 (1 million +)
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In Kenya, online loan apps have gained immense popularity in recent years. These apps provide convenient and accessible financial solutions to individuals in need of quick cash. One crucial aspect of these loan apps is the range of borrowing amounts they offer. In this article, we will explore the minimum and maximum borrowing amounts provided by the leading online loan app providers in Kenya.
M-Pesa, operated by Safaricom, is one of the most widely used mobile money platforms in Kenya. Alongside their mobile money services, M-Pesa also offers a digital lending product called M-Shwari. M-Shwari provides loans to M-Pesa users based on their transaction history and other factors.
The minimum borrowing amount on M-Shwari is Ksh 100, while the maximum borrowing amount can go up to Ksh 50,000. The loan tenure ranges from one month to six months, with interest rates varying depending on the loan duration.
Tala is another popular online loan app in Kenya. It utilizes smartphone data to determine a borrower’s creditworthiness. Tala’s lending process is entirely digital, making it convenient for users to apply for and receive loans.
For first-time borrowers, the minimum borrowing amount on Tala is Ksh 500, while the maximum borrowing amount can be as high as Ksh 30,000. As borrowers build a positive repayment history, they become eligible for higher borrowing limits and more favorable loan terms.
Free
In Kenya V 4.0.2
5.0 (1 million +)
Security Status
for Android
Branch is an online lending platform that offers loans to individuals in Kenya. Similar to Tala, Branch leverages smartphone data to assess a borrower’s creditworthiness. The application process is straightforward, and funds are disbursed directly to the borrower’s mobile money account.
The minimum borrowing amount on Branch is Ksh 1,000, while the maximum borrowing amount can reach Ksh 70,000. As borrowers consistently repay their loans on time, they may qualify for higher borrowing limits and reduced interest rates in the future.
Zenka is a popular loan app that provides instant mobile loans to Kenyan residents. It offers flexible repayment terms and competitive interest rates. Zenka also rewards borrowers who repay their loans promptly by increasing their borrowing limits and offering lower interest rates on subsequent loans.
The minimum borrowing amount on Zenka is Ksh 500, and the maximum borrowing amount is Ksh 30,000. The loan tenure can range from one week to one month, depending on the borrower’s preference.
Okash is an online loan app that aims to provide quick and easy access to credit for Kenyan individuals. Their application process is entirely digital, ensuring a hassle-free experience for borrowers. Okash leverages user data, including financial transactions and smartphone usage patterns, to assess creditworthiness.
The minimum borrowing amount on Okash is Ksh 2,500, while the maximum borrowing amount can go up to Ksh 50,000. Loan durations range from 91 days to 365 days, with interest rates varying based on the repayment period.
Berry is a digital lending platform that offers instant loans to Kenyan residents. They utilize advanced algorithms to evaluate loan applications and disburse funds quickly to approved borrowers. Berry aims to promote financial inclusivity by providing accessible and transparent loan products.
The minimum borrowing amount on Berry is Ksh 500, and the maximum borrowing amount is Ksh 50,000. Loan durations can vary from seven days to six months, depending on the borrower’s preference and repayment capacity.
In conclusion, online loan apps in Kenya provide a range of borrowing amounts to cater to the diverse financial needs of individuals. Whether it’s a small emergency loan or a larger amount for business purposes, these apps offer quick and convenient solutions. However, it is essential for borrowers to carefully assess their repayment capabilities before taking out a loan and ensure they borrow within their means.
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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