How to Get Instant Cash with the Tala Loan App

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Since its launch in 2014, the Tala loan app has been one of the best loan apps in Kenya, boasting over 10 million downloads. A survey found that 90% of users would choose Tala again, and 82% of female users reported increased confidence after using the loan app.

Key Features of Tala Loans

Interest Rate: Tala loan app charges a daily interest rate of 0.3%, equating to KSh 6 per day for a KSh 2,000 loan.
Loan Amounts: Tala loan app offers amounts ranging from KSh 1,000 to KSh 50,000.
Quick Application: Applying via the Tala app takes just 5 minutes.
Minimal Requirements: Only a national ID is needed to apply for a Tala loan.
Fast Disbursement: Approved funds are sent directly to your MPESA account.
Flexible Repayment: Tala loan app repayment period is up to 61 days, with occasional offers for different terms.
Installment Payments: Tala loans can be repaid in installments or in full by the due date.

Late Payment Fees: In case of a late payment for a Tala loan, an 8% interest applies to overdue balances, plus a 20% Excise Duty on daily and late payment interest, which is payable by Tala to the Kenya Revenue Authority.

Loan Limit Increases: Users can double their Tala loan limit in two months and quadruple it in six.
Referral Rewards: Sharing the Tala loan app to friends gets one KSh 500 off their next loan.
No Collateral Required: No need for paperwork, collateral, or a bank account to apply for a Tala loan.
No CRB Check: Tala loans do not require a CRB check.
Eligibility: Must be a Kenyan citizen aged 18 or older to qualify for a Tala loan.

Application Process for New Customers

Download the Tala loan app from Google Play on an Android device (OS 4 or higher).
Register with your Safaricom mobile number and create a secure PIN.
Fill out the necessary application details.

Application Process for Existing Customers

Open the Tala loan app on your phone.
Follow the loan application steps.
Choose your desired repayment period.
Click “Send my loan”.
Approved Tala loans are immediately sent to your MPESA account.

Returning customers must repay their previous Tala loan before applying for another.

Read: The Top 10 Loan Apps With the Lowest Interest Rates in Kenya

Repayment Instructions

Repay your Tala loan using M-PESA Xpress or the Tala paybill number 851900 with the phone number used during sign-up. Remember, payments can be made in full or partially before the due date.

Security Tips for Tala Users

Use the Official App: Only apply and submit personal details through the official Tala app.
Avoid Unauthorized Downloads: Do not download the Tala app from unverified platforms or suspicious links.
Official Contact: Tala will never contact you from personal email domains like Gmail or Yahoo.