Best Online Loans in Kenya Via Mpesa

Simon Mwangi

This article will review a list of online loans in Kenya via Mpesa. You apply for these loans directly sent to your M-Pesa account.

Most of these loans are accessible through mobile loan apps, which one has to download on their smartphone.

The loans are instant, meaning they are disbursed to M-Pesa a few minutes after one applies and is thriving.

You can apply for loans with most of these Mpesa mobile apps in the amount range of Kshs—5,000 to 300,000 with various repayment dates between days to a year.

List of Online Loans in Kenya via Mpesa

I have divided the different online loans in Kenya via Mpesa into three broad categories:

  1. Online loans in Kenya via Mpesa from Banks
  2. Loans offered by Safaricom & its Partners
  3. Online loans in Kenya via Mpesa from Mobile Loan Apps

Let’s look at each category one by one under its sub-headings

Online Loans in Kenya via Mpesa from Banks

A shortlist of online loans in Kenya via Mpesa from banks is as follows:

1. NIC Now App

NIC Now is a quick mobile loan solution provided by NIC Bank. This mobile loan app is available to NIC bank customers who can access it anywhere, wherever they need it.

To get this app, dial *488# and follow the instructions. It is worth noting that one can borrow a minimum of KES 1,000. All loans attract an interest rate of 13.5% and have a one-month repayment period.

NIC Now loan allows you to access instant loans without security.

2. Timiza Loans from Absa Bank

Timiza loan is offered by a mobile bank provided by Absa Bank Kenya (formerly Barclays Bank).

You can access this application by dialing *848# or downloading it from the Google Play Store. Once you have filled in your registration details, fill in the loan application details.

Once your loan is approved, you can access it via M-Pesa.

Remember that you should repay Timiza’s quick mobile loans within 30 days. One is required to use Mpesa through pay bill number 300067.

3. HF Whizz App from Housing Finance

This fantastic app from Housing Finance is more than a quick mobile loan app. Anyone can get a loan, and you can use it to pay bills, buy airtime, and more. Hf Whizz app should be on your list if you are looking for quick mobile loans in Kenya.

4. NCBA Loop Loan

NCBA Loop Loan is a loan product from NCBA Bank that lets you get a Personal Loan of up to KES.3 Million and an Overdraft of up to KES. One hundred thousand without any paperwork!

You can apply for this loan by downloading the app and following its steps. Once you’ve applied, it will send your details to its team, who’ll review and approve them as soon as possible. That’s all there is to it.

5. Eazzy Loan from Equity Bank

Eazzy Loan provides an easy and quick way to get money. You can apply for as much up until KSh3 million without signatures or paperwork!

To do so, all you have to do is use one of these three options:

  • Access the loan through the Equity Mobile App
  • Through the Equitel line
  • Or through Equity bank USSD – *247#.

6. Mco-op Cash Loan

Mco-op cash loan allows you to Get short-term loans! Borrow from Kes 1,000 to 500k, and the Loan repayment is 1 -3 months. All that’s needed is a salary account (copy of KRA PIN) registered on Mobile banking (MCo-Opcash)

Online Loans in Kenya via Mpesa from Safaricom

Safaricom and its partners offer these online loans in Kenya via Mpesa. The loans include:

7. Mshwari Loan

M-Shwari Loan is a micro-credit M-Pesa facility offered in partnership with NCBA Bank that enables you to borrow money on your phone.

They charge a one-time fee of 7.5%, deducted from each loan.

To qualify, You have to meet the following requirements:

  • Be enrolled in Mshwari for at least six months and saving
  • Be an active user of Safaricom services like voice calls & data coverage

8. KCB M-Pesa

KCB M-PESA is a loan and savings product exclusively offered by KCB Bank to M-Pesa users. To qualify, you must be a registered and active Safaricom M-pesa customer.

The loan lasts one month and charges an interest rate of 7.35%.

9. Fuliza by Safaricom

Fuliza Mpesa is a service that allows M-PESA customers to complete their transactions when they have insufficient funds. This partnership between Safaricom and KCB Bank, NCBA Bank, has made Fuliza available everywhere for Kenyans!

Check: How to increase Fuliza Limit

10. Bloom Finance Service

Bloom Finance Service is a Safaricom online loan service that offers a credit facility between Kshs 5,000 and 150,000 for Lipa Na M-PESA Buy Goods users.

Online Loans in Kenya via Mpesa from Mobile Apps

Mobile apps have become famous for online loans in Kenya via Mpesa in recent years. They grew so fast thanks to the internet penetration in the country, many people owning mobile phones, and the instant nature of online loans. These online loans in Kenya via Mpesa include:

11. Zenka Loan

Zenka is the most relaxed quick mobile loan provider in Kenya today. Accessing this loan is straightforward.

Download and install the Zenka Mobile App from the Google Play Store. Fill in your registration details and then follow up with loan application details.

Towards the end of last year, Zenka grew in popularity because it offered the first loan free of interest charges if repaid within 30 days. The lowest amount you can borrow using Zenka is Ksh 500, while the highest is Ksh 30,000.

Moreover, Zenka has a flexible repayment period of between 30 and 61 days.

12. Branch Loan

This loan app offers quick mobile loans in Kenya. The branch loan app has been in operation for quite some time.

If you actively use your M-Pesa and Facebook, this is just the place to secure your mobile loan. The more active you are on these two sites, the higher the minimum amount you qualify for a loan from the Branch.

Download and Install the Branch application from the Google Play Store and enjoy quick mobile loans without security.

13. Okash Mobile Loan

Onespot Technology Investment Kenya offers this mobile application to its customers to access quick loans. Through Okash, one can access instant unsecured loans within 5 seconds.

One can borrow up to 500,000 from Okash with a minimum interest rate of 5%.

Download and install the Okash mobile loan app from the Google Play Store to access quick mobile loans.

Moreover, if you would like to repay the loan you had accessed from Okash, please use the M-Pesa pay bill – 612224.

14. Tala Loan

Tala started as Mkopo Rahisi before rebranding to Tala. For years now, Tala has been providing quick mobile loans in Kenya. In under 5 minutes, one can download, request, and get the requested loan amounts in their M-Pesa.

The minimum loan amount one can access from Tala is KES 500. However, your loan limit grows as you borrow and repay in time.

Just like Branch, Tala determines whether to give an individual customer a loan based on their activity on Facebook and the use of M-Pesa services.

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In Summary

Online loans in Kenya via Mpesa are rising in demand. You can access fast loans to meet your personal or business needs. To access quick mobile loans, ensure you have an active M-Pesa account and follow the necessary procedure and other requirements.

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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.
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