5 Instant Loan Apps in Kenya to Cover Your Christmas Expenses

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The festive season in Kenya often brings last-minute expenses, from travel to gifts and entertainment. If you need quick cash, instant loan apps offer an easy way to access funds on your mobile. Here’s a look at five popular loan apps in Kenya to consider during this Christmas season.

Tala Loan App

Tala has become a favorite among Kenyans as it only requires an ID to apply, making it accessible for anyone without a bank account.

Application Process: Download the Tala loan app, fill in basic information, and receive a customized credit offer.
Approval Time: Tala typically takes just 5 minutes to review and approve loan applications, making it one of the fastest options.
Disbursement: Once approved, funds from Tala are disbursed to your M-Pesa account in minutes, though sometimes it may take slightly longer based on the applicant’s information.

Tala offers amounts from KSh 1,000 up to KSh 50,000, with daily interest rates as low as 0.3%.

Branch Loan App

Branch has established itself as a trusted app with transparent fees and favorable loan options.

Application Process: Simply download the Branch loan app, register, and select the loan amount that meets your needs.
Approval Time: While Branch aims for a 24-hour approval window, most loans are approved within 3 hours.
Disbursement: Once approved, funds are credited directly to your M-Pesa account.

Branch offers loans ranging from KSh 1,000 to KSh 300,000, with a monthly interest rate of 2% to 18% depending on your profile. Loan terms can be selected from 62 days to one year.

Timiza Loan App

Timiza, offered by Absa Bank in partnership with Safaricom, is a great choice for M-Pesa subscribers with a good credit rating.

Application Process: M-Pesa users can register on Timiza, and the app requires you to be an active Safaricom subscriber.
Approval Time: Approval typically takes less than 24 hours, as long as you meet Safaricom’s CRB requirements.
Disbursement: Loans are disbursed to the Timiza account, from which customers can transfer to M-Pesa.

With Timiza, loans range up to KSh 150,000 with a one-time interest rate of 1.083% plus a 5% facilitation fee. This app is well-suited for individuals already familiar with M-Pesa who are looking for moderately priced loans.

Read: Which is the best Loan Option for Christmas Expenses? Sacco Loans or Bank Loans

Lendplus Loan App

Lendplus offers loans with favorable eligibility requirements, making it accessible to employed or self-employed Kenyans.

Application Process: Download the Lendplus loan app, register, and complete a quick application with your ID and mobile wallet information.
Approval Time: Approvals vary from as fast as 5 minutes to a maximum of one business day, depending on the applicant’s details.
Disbursement: Upon approval, funds from Lendplus are disbursed to your M-Pesa account within 30 minutes to 1 business day.

Lendplus offers amounts from KSh 500 to KSh 50,000, with daily interest rates around 2.2%. The Lendplus loan app’s payment terms make it a good choice for those who need more time to repay their loan.

Zenka Loan App

Zenka has a streamlined process, helping Kenyans access funds quickly for emergency needs or seasonal expenses.

Application Process: Download the Zenka app, register, and fill out a brief application form.
Approval Time: Zenka approves applications within 5 minutes, providing instant cash options.
Disbursement: Funds are credited directly to your M-Pesa account moments after approval.

Zenka offers loans between KSh 500 and KSh 30,000 with a one-time interest rate of 9-30%, based on the applicant’s risk profile. Zenka also allows top-ups and repayment extensions.