10 Best Instant Loan Apps in Kenya 2024 [No Registration Fee]

Even with tighter regulations, mobile loan apps in Kenya seem to still be on the rise. The Central Bank of Kenya (CBK) has made several efforts to curb the mushrooming of unregulated loan apps in Kenya. ¹

The crackdown came after several reports of violations by mobile lenders, including data privacy and harassment. ² Despite these regulations, you will still get bewildering choices when you search for the best loan apps in Kenya.

This is no surprise considering that Kenya has inevitably become a global hub of fintech innovation according to the Havard Business Review. ³ Mobile loan apps have flooded the financial market, and with a smartphone and ID, you can easily get a loan. 

I wrote this guide to help you avoid getting lost in the sea of choices. I am going to reveal some of the most legit loan apps and what to consider when choosing.

RECOMMENDED GUIDE: 10 Genuine Money-Making Apps in Kenya

Most Trusted New Loan Apps in Kenya 2021

Here are the best instant loan apps in Kenya without a registration fee: 

• Tala
• Branch 
• Zenka 
• Timiza 
• KCB M-PESA
• Mshwari 
• Eazzy loan 
• Okash 
• Opesa 
• HF Whizz

1. Tala Loan App

Despite being one of the most popular loan apps in Kenya, Tala was initially left out when CBK released the list of licensed credit providers. ⁴

However, in February 2023, Tala received its license to join the list of the most credible loan apps in Kenya. ⁵

The app is generally well-known for providing loans in the shortest time possible. Mostly 5 minutes.

The app divides loanees into 3 stages: 

• Bronze
• Silver
• Gold

If it’s your first time installing the app, You are categorized as bronze and you can easily obtain Ksh 500 for a start. 

You are eligible for a loan limit in the bronze category ranging from Ksh 500 to Ksh 4,999. If you keep the app installed and pay your loans on time, this limit gradually increases.

In the silver category, your loan limit ranges from Ksh 5000-9,999. Timely payment of your loans gets you to the gold category with time.

When you are a member in the gold category, you enjoy a loan limit between Ksh10,000 to Ksh 50,000

2. Branch Loan App 

Like Tala and other loan apps in Kenya, Branch targets Kenyans with Android and IOS mobile phones.

This is one of our favourite legit loan apps in Kenya that sends money through Mpesa. Their interest rate is pocket-friendly and flexible: it’s no surprise that it’s almost outdoing Tala since several people like it based on the good ratings on the Google Play store.

If you are a new Branch user, you qualify for a loan amount ranging from Ksh250-Ksh500. You get a reward for inviting your friends. Your friends have to join, borrow and repay their first loan for you to qualify for a reward.

If you sign up for Branch and pay your first loan of any amount, they will give you Ksh200 for free. Timely payments and continued use of the app can earn you up to Ksh 70,000 loan limit.

What We Like 

• Quick disbursement of loans
• Easily accessible
• Pocket-friendly interest rates

What we Don’t Like 

• No refund if you overpay your loan by mistake

3. Zenka Loan App

If you are looking for quick loan apps in Kenya, Zenka is hard to ignore.

While it is not as old as Tala and Branch, it has proved to be a problem solver since it entered the market. For a first-time applicant, Zenka gives interest-free loans. This is no doubt one of the best mobile loan apps in Kenya without a registration fee.

You just need to download the app from the Google Play store, fill in your details, and request your first loan. If you qualify, you instantly get a Ksh1,500 interest-free loan payable within 61 days.

This is the first loan app in Kenya that gives its clients interest-free, long-term loans.

If you don’t want to download the app, Zenka has a USSD code *841# that you can use to register and get a loan.

What We Like 

• First-time applicants get interest-free loans
• Affordable interest rates
• Supports iOS phone users 

What we Don’t Like 

• Short repayment period

 4. Timiza Loan App

When it comes to mobile loan apps, even banks embrace the idea. Timiza is an ABSA bank app (Formerly Barclays bank) that helps users to do most of their transactions through the phone. Among other services, Timiza offers loans.

The app is available on the Google Play Store, but you can also access the loan by dialing *848#  and following the instructions if you do not have a smartphone.

What We Like 

• Has an option of saving
• Quick disbursement of loans

What We Don’t Like 

• Funds are not sent directly to Mpesa

 5. KCB MPESA Loans

If you are in an emergency and need fast loan apps in Kenya, we recommend this one.

KCB Mpesa is a Kenya Commercial Bank initiative in partnership with Safaricom. It began in the year 2015 as a savings account and has been in operation since then. You can borrow even without savings. You will receive the loan in your KCB Mpesa account on your phone.

The minimum you can borrow is Ksh50, and the maximum limit is Ksh 1,000,000. Their interest rate is 1.16% per month with a 2.5% one-time negotiation fee.

A one-month loan goes at the cost of 3.66%, and an excise duty applies to payments.

You are eligible for a KCB Mpesa loan if you are a registered and active  Safaricom Mpesa customer. Your line must have been in use for the last 6 months for you to get a loan.

You can increase your loan limit by saving in the account and also paying your loans on time. 

You can access KCB Mpesa loans by dialing *844# and following the prompt.

What We Like 

• Low-interest rates
• Accessible through a USSD code
• Allows saving

What We Don’t Like 

• High-interest rates for large loans

 6. Mshwari Loans

Mshwari offers its services through Mpesa mobile money. It works in conjunction with the Commercial Bank of Africa and has constantly proved to be one of the best mobile loan apps in Kenya.

The maximum amount they lend is unknown, but the minimum you can borrow is Ksh 100. If you continue saving with Mshwari and pay your first loan on time, your loan limit increases.

The repayment period for Mshwari loans is 30 days. You receive your loan in less than 5 minutes. The loans have a repayment period of 30 days attracting an interest rate of 7.5%.

It is one of the best mobile lenders since it has the minimum requirements.

To get a loan from Mshwari, you need to be a Safaricom subscriber, having enabled Mpesa and used the services for at least 6 months. The Mshwari account must be active and the Mpesa menu up to date.

What We Like

• Does not share your data with third parties
• Generates customized reports
• You can see loan repayment progress via the app.

What We Don’t Like 

• The non-negotiable short duration of payment

7. Eazzy Loan

Eazzy Loan is a product of Equity Bank and one of the best loan apps in Kenya. The bank offers other services like withdrawals through the app. If you are a member of Equity Bank, you can easily access their loans. 

Their limit varies from one person to another.  You qualify for a loan limit according to the transactions made throughout the month.

What We Like 

• High loan limits
• Affordable interest on loans
• Quick disbursement of funds

What We Don’t Like 

• Only provides loans to equity bank customers 

8. HF Whizz

This is one of the best loan apps in Kenya with low interest rates.

HF Whizz is from the HF (House Finance) Group, a mortgage finance provider in Kenya. The amount you qualify for varies from one person to another. They have updated their terms, and for now, you need to visit one of their branches to get a loan.

HF Whizz is credible and their app allows you to borrow up to Ksh 50,000. Their services are similar to Timiza’s.

You can also use the app to pay bills and transfer cash to other people. To get the app, go to the Google Play Store, download it, and sign up. After using the app for a while, you will get a loan.

What We Like 

• Low interest
• Easy to access
• High first-time limit

What We Don’t Like 

• Unclear terms and conditions

9. Opesa

Opesa has constantly proved to be one of the most reliable mobile loan apps in Kenya. It was introduced by Tenspot Kenya Limited and currently has over 500,000 downloads on the Play Store. Their minimum loan limit is Ksh 500 and a maximum of Ksh30,000.

The requirements for Opesa loans are an Android phone, a Mpesa registered number, and an identity card.

Their loans are payable within 14 days, depending on the amount, and attract an interest rate of 16.8% in those 14 days. Delayed payment attracts 2.4% every day. If you fail to clear the loan within 20 days, they will give your details to the Credit Reference Bureau.

However, before forwarding the complaint, Opesa will send several reminders and warnings

To get a loan, download and install the app from the Google Play Store, sign up, and follow the prompts.

What We Like 

• Quick loan disbursements
• Has coupons for their clients
• 24/7 available customer support

What We Don’t Like 

• Contacts guarantors in case you default
• High interest

10. Okash

Okash is a product of Opay,  creator of the popular Opera mini browser, and a Fintech subsidiary of the Opera Group.

They have a loan repayment starting from 15 days with a revised interest rate ranging from 15% for 15 days, 17.6% for 22 days, and 23.2% for 29 days.

To get the Okash loan, download their app from the Google Play Store, sign up, and follow the prompt.

What We Like 

• High loan amount
• Fast disbursement
• Advanced credit scoring system

What We Don’t Like 

• High-interest rates
• Contacts third party in case of default

Best Loan Apps in Kenya Without CRB Check

If you are on CRB and looking for loan apps that do not consider CRB status, you might have quite a few options. Several mobile lenders in Kenya claim not to list their customers on CRB but you can never be sure. 

Sometimes, this assurance might just be there to lure you into getting a loan, and then when you fail to repay you find yourself blacklisted on CRB.

On the other hand, due to the intense competition in the mobile lending industry, most loan apps in Kenya do not check your CRB status when approving your loan.

These include:

• Tala (Download app)
• Branch
• Okash
• Opesa
• Fadhili
• Jazika loan
• iPesa
• Lioncash
• Usawa Loan App
• Zenka

We will be seeing new loan apps in Kenya going forward which means getting a loan will become even easier.

Best Loan Apps in Kenya for iPhone (iOS)

If you are using an iPhone instead of an Android phone, you can still get a mobile loan in Kenya. Some of the loan apps in Kenya don’t have an iOs version but you don’t have to worry.

Below are some of the best iOS loan apps in Kenya without registration fees:

• Timiza
• Branch
• PataPesa
• Zenka
• Okolea
• HF Whizz
• PesaPap
• Carbon

The Bottom Line 

Getting a personal loan in Kenya is now easier than ever. You don’t need to have collateral. With mobile loan apps filling the financial market, you easily secure a loan by simply downloading an app. 

While mobile loans in Kenya are super easy to get, we don’t advise that you rely too much on them. These loans can be financially damaging so only apply if you are in dire need of money. 

Otherwise, if you have been asking, which app gives a loan immediately in Kenya? We hope this guide will help.

1. CBK, CENTRAL BANK OF KENYA (DIGITAL CREDIT PROVIDERS) REGULATIONS, 2021
2. TechCrunch, Kenya cracks down on digital lenders over data privacy issues
3. Havard Business Review, Kenya Is Becoming a Global Hub of FinTech Innovation
4. Businesses Daily, Popular mobile loan app Tala miss initial CBK licensed lenders
5. Capital Business, CBK Approves Tala To Offer Digital Credit Services