10 New Loan Apps in Kenya 2023

Simon Mwangi

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

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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.