10 New Loan Apps in Kenya 2023

The following is a list of new loan apps in Kenya 2023 that are still giving out loans. As you all know, the government of Kenya banned these unregulated loan apps through the Central Bank.

This means that you cannot be blacklisted on CRB if you happen to default on their loan. See the list of loan apps that are denied access to CRB.

A new 2021 Amendment Bill in Parliament seeks to license and regulate Digital money lenders despite the ban.

Also, read; List of Loan apps in Kenya.

List of New Loan Apps in Kenya

The following is a list of the latest loan apps in Kenya 2023 that still give out loans in Kenya. We have tried to categorize the loan apps based on the interest rate offered.

Some loan apps have adopted the characteristics of a common shylock. It is good to note that, despite the high-interest rates offered by these predatory loan apps. Expect the following;

  • You don’t call poor customer service, but they call and SMS you several times a day with threats and fake promises you often.
  • Expensive interest loan rates of 400%
  • Short loan repayment periods (7 days).
  • Privacy invasion. They will contact your contacts(Friends and Family) if you are late in loan repayments.

Also, note that we are not affiliated with any of the below loan apps. We are just here to provide insights.

Last but not least, reading the customer reviews and experiences in the Google play store is always good before downloading the app.

Finally, always read and understand TERMS AND CONDITIONS before accepting any loans.

Despite all of the above, you still need that money. I will share tips on how to eat their money in the next post. They won’t take you anywhere.

High-Interest rates Digital Lenders in Kenya

High-Interest Rate Apps

  1. L-cash
  2. Zash loan App
  3. Lion Cash loan app
  4. Credit Hela
  5. iPesa loan app

Low-interest rate

  1. NCBA Loop
  2. Zenka loan app
  3. Timiza
  4. Mshawri and Fuliza Mpesa
  5. KCB Mpesa
Simon Mwangi
Simon Mwangi
As a freelance writer with a background in banking and accounting, Simon has the financial know-how to produce quality content on various topics. His experience gives him a strong foundation in understanding complex financial concepts and communicating them in an easy-to-understand way. Follow him on Linkedin


Continue reading

14 Best Mobile Loan Apps in Kenya in 2023

Access to credit has become easier than ever with the rise of mobile loan apps in Kenya. These apps are designed to provide loans quickly and easily without requiring users to engage in lengthy paperwork or long wait times. Whether...

70 Loan Apps in Kenya Without CRB Check in 2023

Here is a complete list of Loan Apps without CRB checks in Kenya. Kenya has seen a considerable increase in the number of mobile phone users. As a result, many people use their phones to access financial services, which are...

HF Whizz Loan App: Get a Loan on HFC Mobile Loan 2023

HF Whizz Loan App is a Housing Finance Corporation product and a stable HFC mobile loan provider in Kenya. They developed the app to make customers' banking experience appealing by eliminating long transaction processes. The app allows customers to pay bills,...

iPesa Loan App Download and Loan Application 2023

This article will cover everything you need to know about iPesa Loan App. One of the best mobile loan apps available in Kenya. The app provides fast and easy credit to M-Pesa users in Kenya, making it a popular...