Top 20 Loan Apps In Kenya For Instant Loans In 2024

Joseph Wenani
22 Min Read

Are you looking for the top 20 Loan Apps In Kenya? Well, search No more. In this article, we have reviewed the Top 20 Loan Apps Preferred by Kenyans. Furthermore, they offer Quick Approval, Disbursement, and low interest rates. Read to the end to know which Loan App Suits You best in 2024

Mobile Loan Apps In Kenya have significantly changed how we access financial services today. What Sets these Mobile Loan Apps apart from Traditional forms such as Banks is that some offer low-interest and instant Loans and do not require CRB checks. Gone are the days of lengthy paperwork and long queues at Banks. With several loan apps in Kenya ready for download, you can easily apply for a loan in the comfort of your own house. But we understand you have questions: What are these Top 20 Loan Apps In Kenya that offer Instant Loans?

Additionally, What are the Loan Amounts? Do they have Pros and Cons? To understand each Loan App, read to the end to understand what each Loan App entails.

Now, let us get started with the focus of the article.

Understanding Loan Apps in Kenya 2024

Thanks to technological advancements, several loan apps have been developed in Kenya. First, it was M-Pesa since its establishment in 2007, and now, various platforms such as Zenka, Branch, and Many More. Initially, the lending landscape in Kenya was 100% dominated by traditional banking institutions. In this case, if someone required a loan, it was necessary to visit the bank to handle loads of paperwork. Mind you, you were not guaranteed to get the loan in the first place, as there were even background checks involved. However, with digital technology, in 2024, we have 51 licensed digital lenders in Kenya licensed by the Central Bank of Kenya (CBK). So this means you have a suite of options depending on the lender’s rates that suit you best.

How Do Loan Apps Work in Kenya? 

Loan apps in Kenya allow users to apply for various loans on their smartphones in a few steps. This includes:

  • Download the Loan App
  • Registration to the Loan App 
  • Filling in multiple forms and applying for a loan Amount
  • Approval and Disbursement of Loans if approved
  • Repayment of the Loan in a given duration or applying for extensions.

Benefits of Using Loan Apps In Kenya

Compared to Traditional Banks, Loan Apps In Kenya offer several advantages. They include:

  • They provide quick access to loans, often within minutes of application.
  • They are Available 24/7 and allow users to apply for loans anytime, anywhere.
  • Unlike banks, many loan apps do not require collateral or extensive documentation.
  • Users can select loan amounts and repayment periods that suit their needs.

Top Loan Apps in Kenya for 2024

Did I mention before that there are 51 Licensed loan apps in Kenya? On the good side, this can mean many loan apps that cater to a wide range of financial needs, from small, quick loans to more significant amounts. Conversely, choosing the proper loan application can also be a problem, especially if you are new to this online loan application in Kenya. So, how do you get started? Below, we have carefully reviewed the top 20 best Loan Apps in Kenya for 2024.

1. Eazzy App by Equity Bank Kenya

Best for: Established borrowers with good credit history who are Equity Bank customers.

Top 20 Loan Apps In Kenya For Instant Loans In 2024

The Eazzy App is Equity Bank’s mobile banking application that makes banking services accessible. Users can apply for loans ranging from KSh 1,000 to KSh 3 million with interest rates between 2% and 10%, depending on their creditworthiness. The app offers a flexible repayment period of up to two years, allowing users to manage their finances effectively​ . To Apply for the loan, you must have an active Equity Bank account or Equitel line operational for at least six months.

Equity Mobile

4.6 out of 5
Pros Wide range of loan amounts available Instant access to loans upon approval. Flexible repayment periods.
Cons Interest rates vary and can be as high as 10%. Requires an active Equity Bank account or Equitel line. Users have reported issues with the app’s functionality and user experience, including registration challenges and transaction errors.​ 

2. Branch Loan App

Best for: Those seeking larger loan amounts, flexible repayment plans, and the potential to build their credit score.

Top 20 Loan Apps In Kenya For Instant Loans In 2024

The Branch Loan App is a popular mobile app in Kenya that offers instant loans. With over 40 million downloads, the Branch offers loan amounts ranging from as little as Ksh 500 in Kenya. On the other hand, the Monthly interest rates also depend on the loan amounts, ranging from 1.7% to 17.6%. Once awarded a Loan, a user is expected to repay the loan with terms from 62 days up to 12 months.

Branch Loan App

4.5 out of 5
Pros Easy loan application process There are no CRB checks flexible repayment terms.
Cons Interest rates can be high, especially when calculated on an annual basis. The reliance on smartphone data and permissions required by the app might raise privacy concerns for some users.​

3.MCo-op Cash by Co-operative Bank of Kenya

Best for: Individuals who are customers of the Co-operative Bank of Kenya. Provides convenient access to loans and competitive rates for bank customers.

Top 20 Loan Apps In Kenya For Instant Loans In 2024

MCo-op Cash by Co-operative Bank of Kenya provides services such as money transfers, bill payments, and accessing loans​. The minimum and maximum loan sizes vary across different loan products offered within the app, ranging from KES 100 to KES 1,000,000. On the other hand, the interest rates applicable to individual loans are around 1.166% to 3.498%, depending on the loan duration. Loans can be repaid over 1 to 3 months, with repayment terms depending on the specific loan product. Application for the loan is made using the USSD code *667# on your phone.

Pros The App is Convenient and easy to use, offering various banking services, from loans to account management and bill payments. It allows quick access to loans without needing physical paperwork or security. Provides free money transfers to other Co-op mVisa numbers and conveniently facilitates bill payments and cash withdrawals.
Cons Loan interest rates and additional fees (such as insurance and excise duty) could add to the cost of borrowing. Limited to Co-op Bank customers, requiring an account with the bank to use the service.

4. Okash Loan App

Best for: Very small, short-term emergency loans due to its low limits. Fast processing is its main advantage.

The Okash Loan App is a prominent micro-lending service in Kenya that gives Kenyans quick loans starting at KSh 1,500 and can go up to KSh 50,000​ with interest rates varying, with up to 36% per annum, but can be as low as 1% for up to 14 days on small loans when You borrow; you expect to make repayment from 14 to 21 days. However, take note late repayments attract a 2% daily fee charge. To Apply for Okash Loan, Download the Okash app from the Google Play Store. Fill in the details as required until you reach the submission stage.

Okash Loan App

4.4 out of 5
Pros Quick application and approval process. Flexible loan amounts based on user data. Integration with M-Pesa for easy repayment.
Cons High-interest rates for delayed repayments. Limited to Android users and M-Pesa subscribers. Requires access to a wide range of personal data and permissions​

5. Mshwari by Safaricom

Best for: Safaricom Users seeking convenient small loans and savings options directly integrated with M-Pesa.

Top 20 Loan Apps In Kenya For Instant Loans In 2024

Mshwari is a banking and loan service Safaricom offers in partnership with NCBA Group. It is designed to operate entirely through a mobile phone, providing a convenient, paperless, and safe way to save money and access loans. Mshwari offers loan limits from as low as Ksh 100 to up to Ksh 50,000 and attracts a 9% interest, including a facilitation fee. The repayment period for Mshwari loans is up to 30 days.

Mshwari Loan App

4.5 out of 5
Pros Convenient and fast loan access directly from a mobile phone. No minimum balance is required. Transactions between M-PESA and Mshwari are free of charge​ . It offers a variety of savings options with interest​ ​.
Cons Loan interest rates might be considered high for some users. Users must have a history of using Safaricom services and saving with Mshwari to qualify for higher loan limits.

6. Fuliza 

Best for: Very short-term overdraft facility for Safaricom M-Pesa users, especially for completing transactions when your balance runs low.

Fuliza is an overdraft service Safaricom offers, primarily designed for M-PESA customers to complete transactions even when they lack sufficient funds. The overdraft limits vary, providing flexibility based on the customer’s M-PESA transaction history. Fuliza charges a 1% access fee on the borrowed amount and a maintenance fee that ranges from Ksh 2 to Ksh 30 per day, depending on the amount borrowed. The service allows up to 30 days for repayment before access to further overdrafts is restricted.​ 


Pros Instant access to funds. Integrated within M-PESA, making it easily accessible. Flexible repayment within 30 days.
Cons Daily maintenance fees can add up over time. It can only be used for transactions within the M-PESA system, not for direct cash withdrawals.​

7.KCB M-PESA loan app

Best for: KCB Bank customers needing quick access to loans and those seeking slightly larger loan amounts.

Top 20 Loan Apps In Kenya For Instant Loans In 2024

The KCB M-PESA loan app is a collaborative venture between Kenya Commercial Bank (KCB) and M-PESA. You can access KCB M-Pesa loans via the Safaricom SIM toolkit, the MySafaricom app, and the M-PESA app. Loans range from Ksh50 to Ksh1 million, attracting Interest Rates at an 8.64% fee, which will be repaid within 30 days​ . The loan comes with a one-month repayment period, but if not repaid, it rolls over for an additional month with the same interest rate.​ 

KCB M-PESA loan app

4.5 out of 5
Pros Loans are easily accessible via a mobile device. It offers the possibility of taking multiple loans within the credit limit. The application process is user-friendly and can be completed in a few steps.
Cons The fixed interest rate of 8.64% might be high for some borrowers, especially for short-term loans. A strict one-month repayment period could be challenging for borrowers facing financial difficulties.

8. Zenka Loan App

Best for: Repeat borrowers who repay on time. Offers flexible repayment and loan top-up options, potentially leading to higher loan limits over time.

Top 20 Loan Apps In Kenya For Instant Loans In 2024

Zenka stands out in the Kenyan market for its ease of access, making it an attractive option for those needing quick financial assistance. Developed by Zenka Digital Limited, it aims to provide accessible financial solutions, removing the barriers associated with traditional banking systems. In addition, Zenka offers loans ranging from KSh 500 to KSh 30,000, with the amount available to a borrower depending on their borrowing history and credit standing​. The interest rates charged by Zenka vary from 9 to 39% of the borrowed amount, with a maximum Annual Percentage Rate (APR) of 180%​ . Lastly, Zenka Loans can be repaid within 61 days, with options for an extension for those unable to meet the deadline.

Zenka Loan App Kenya

4.1 out of 5
Pros Quick signup and loan disbursement process, flexibility in loan repayment, and a user-friendly platform.
Cons The interest rates and processing fees might be higher than traditional bank loans, and there’s a daily penalty for late repayment.

9.PesaPap by Family Bank

Best for: Customers of Family Bank and those seeking a seamless banking integration for loan access.

Top 20 Loan Apps In Kenya For Instant Loans In 2024

PesaPap by Family Bank in Kenya is a comprehensive mobile banking solution that allows users to conveniently manage their finances. Its primary purpose is to offer various financial services, including mobile loans, savings plans, funds transfers, bill payments, and more directly from users’ mobile devices. It Offers multiple loans, including mobile loans, salary advances, and mortgages.

Pros It offers convenient access to a wide range of banking services, including loans and savings, integration with mobile money, and real-time transactions through PesaLink.
Cons Loan interest rates and repayment terms are variable and can be more evident once the application process. Documentation requirements might be cumbersome for some users.

10.Wezesha by Absa Bank

Best for: Absa Bank customers seeking direct loan access integrated with their bank accounts.

Top 20 Loan Apps In Kenya For Instant Loans In 2024

Wezesha by Absa Bank is a cutting-edge digital platform designed to streamline inventory management and trading for small and medium enterprises (SMEs) in Kenya. Launched by Absa Bank Kenya, the platform, also known as Wezesha Stock, automates stock financing for retailers, thereby addressing their financing needs. It enables easy management of stock orders and provides unsecured stock financing utilizing data analytics. This solution primarily benefits businesses in the Fast Moving Consumer Goods (FMCGs), agro-processing, oil marketing, and agrochemical sectors. By offering automated credit ranging from KES 100,000 to KES 10 million, Wezesha Stock stands out as a transformative solution designed to support Kenya’s wholesale and retail trade sector, a significant employment generator.​

Pros It offers a digital, data-driven approach to financing, no collateral requirements, competitive interest rates, and is designed specifically for SMEs’ inventory needs. The app-based solution facilitates seamless transactions between SMEs and suppliers.
Cons Currently, it seems to be limited to businesses in specific sectors There is no detailed information on repayment terms and interest rates.

11. HF Whizz app

Best for: Borrowers seeking small, short-term loans and customers of Housing Finance Bank.

Top 20 Loan Apps In Kenya For Instant Loans In 2024

The HF Whizz app in Kenya is a product of the Housing Finance Corporation. Customers do not need an existing account with Housing Finance Bank to use the app. The HF Whizz app provides loans ranging from KSh 1,000 to KSh 50,000. The interest rates on loans are up to 10% of the total loan amount. It’s important to note that this is not an annual percentage rate but a one-off charge on the loan amount. Loans must be repaid within a period not exceeding six months, offering flexibility for borrowers to manage their finances effectively​.

HF Whizz Loan app

2.8 out of 5
Pros Instant loan disbursement Access to a wide range of banking services There is no need for a bank account with HFC Quick repayment through various methods, including direct in-app payments or via M-Pesa.
Cons Some users have reported issues with app updates, document upload, and registration/login processes

12. Hustler Fund

Best for: Small business owners and entrepreneurs seeking low-interest loans to support their ventures.

The Hustler Fund, launched in November 2022 by President William Ruto, is a significant initiative promoting financial inclusion in Kenya. It seeks to provide instant loans to Kenyan citizens, particularly those with limited access to traditional banking services. The fund offers loans ranging from KSh 500 to KSh 50,000, determined by credit scoring based on various parameters.​ The interest rate is 8% annually, calculated daily​ . Loans must be repaid within 14 days, with provisions for extension under certain conditions​ . The application process involves dialling a USSD code (*254#) on your phone.

Pros Accessible to individuals with limited access to banking services. The automatic savings component encourages financial responsibility. No CRB checks, making it inclusive for those with previous financial challenges​.
Cons Loan limits and eligibility based on credit scoring may exclude some potential borrowers. A short repayment period of 14 days may pose challenges for some borrowers.

13. NCBA Loop App

Best for: NCBA Bank customers. Offers seamless banking integration for those in the bank’s ecosystem.

Top 20 Loan Apps In Kenya For Instant Loans In 2024

NCBA Loop is a digital banking app offered by NCBA Bank. It eliminates the need to visit physical bank branches by providing core banking services directly through the app. NCBA Loop offers unsecured loans with the option for early repayment and does not have any late repayment penalties​ .

NCBA Loop Loan App

2.6 out of 5
Pros Comprehensive digital banking experience. It Offers investment and savings options. Integrated with M-Pesa for easy transactions.
Cons The registration process may be cumbersome for some users, requiring branch visits. Some users have reported eligibility issues for loans after repayment.​

14. SC Juza by Standard Chartered Bank

Best for: Standard Chartered Bank customers seeking convenient access to loans.

SC Juza is a mobile lending platform offered by Standard Chartered Bank Kenya. It is designed to provide short-term loans primarily for households and small businesses. Loans range from KES 1,000 to KES 2 million, accommodating various borrowing needs​ . Annual interest rates vary from 13.99% to 36.99%, which is competitive​ . Additionally, Loans must be repaid within 7 to 30 days, offering flexibility to borrowers based on their financial situation​.

SC Mobile Kenya

4.7 out of 5
Pros Lower interest rates compared to competitors. Quick and easy digital application process. A reputable international bank backs it.
Cons Limited information is available on eligibility criteria and documentation requirements.

15. M-Fanisi by Maisha Microfinance Bank

Best for: Customers of Maisha Microfinance Bank seeking a trusted lending source.

Top 20 Loan Apps In Kenya For Instant Loans In 2024

M-Fanisi, offered by Maisha Microfinance Bank, is a mobile-based bank account that targets Airtel Money and M-Pesa registered customers in Kenya. Users can borrow from Ksh 200 to Ksh 25,000​ . In addition, loans come with a one-off facility fee of 10%, excluding excise duty, for a repayment period of 30 days​ . Loans must be repaid within seven days, 14 days, or 30 days​ . Applying for a loan with M-Fanisi is straightforward: For Airtel Money users, dial *222# and For M-Pesa users, dial *281#, select “Loans,” then “Request loan,” enter the amount, and complete the process with your PIN.​ 


3.5 out of 5
Pros It offers a quick and easy application process accessible via USSD or an app​. Allows savings alongside borrowing, with attractive interest rates on savings accounts
Cons Limited to Airtel Money and M-Pesa users, potentially excluding those who use other services. Interest rates, while competitive, could accumulate quickly for those unable to repay promptly.

16. Tala loan app

Best for: First-time borrowers seeking quick access to build credit history, as they start with small loan amounts.

Top 20 Loan Apps In Kenya For Instant Loans In 2024

Tala has gained popularity for its straightforward and fast loan services, allowing users to apply for loans and receive funds directly to their M-Pesa accounts within minutes. The app is designed for easy use, with a simple registration and application process that has attracted millions of users across Kenya. Tala provides loans ranging from a minimum of KSh 10,000 to a maximum of KSh 50,000 for gold-level customers​ . On the other hand, the Interest rates vary, with 30-day loans having an interest rate between 7% and 19% and 21-day loans between 5% and 14%. A special category of 120-day loans carries a one-time fee of 13% to 33%​ . Users can choose repayment terms, including 21, 30, and up to 120 days for certain loans.​ 

Good Stuff Quick and easy loan approval and disbursement. Flexible repayment periods and the opportunity to increase the loan limit. The app provides financial tips and courses to help users manage their finances better.
Bad Stuff High interest rates for short-term loans compared to traditional bank loans. The app requires access to a wide range of personal data on the user’s phone, which may raise privacy concerns for some users​.

17. Timiza from Absa Bank 

Best for: Absa Bank customers and those seeking a variety of financial services beyond loans such as bill payments, insurance options, and savings accounts.

Top 20 Loan Apps In Kenya For Instant Loans In 2024

Timiza from Absa Bank is a mobile loan application in Kenya designed to offer quick and easy access to credit for its users. It allows customers to apply for loans, save money, and make payments directly from their mobile phones. Timiza also offers loans ranging from KES 1,000 to KES 150,000​ . The loan interest rate is 1.083% monthly, plus a 5% loan processing fee. If a loan is not repaid within 30 days, a rollover fee of 5% applies. Loans must be repaid within 30 days​.

Timiza Loan App

3.4 out of 5
Pros Fast loan approval and disbursement. Convenient repayment methods via M-PESA. Additional banking services are available on the app.
Cons Interest and processing fees can add up. It is limited to Safaricom subscribers and requires a good CRB rating. App performance is reliant on having a compatible smartphone and operating system version.​

18.iPesa Loan App

Best for: Quick, small loans for immediate needs, with relatively low loan limits.

Top 20 Loan Apps In Kenya For Instant Loans In 2024

The iPesa loan app is a mobile-based platform in Kenya designed to offer quick and convenient loans. iPesa gives loans ranging from KES 500 to KES 50,000, suitable for various financial needs. The loans come with an interest or service fee starting from 18% of the loan amount, with an APR of 12% for longer terms (91 to 180 days) and potentially a 15% interest for a 14-day term, depending on several factors, including the borrower’s repayment history and the cost of lending. The repayment options are flexible, ranging from 91 to 180 days, allowing users to choose the most convenient plan.​

iPesa Loan App

3.9 out of 5
Pros Fast loan disbursement directly to the borrower’s M-PESA account. User-friendly application process. Potential for increased loan limits with timely repayment.
Cons Interest rates can be high, especially for short-term loans. Eligibility and loan limits are subject to assessment, which might only favour some applicants.​

19. KCB Vooma app

Best for: Larger loans, potentially up to Ksh 1 million. Well-suited for KCB Bank customers.

Top 20 Loan Apps In Kenya For Instant Loans In 2024

The KCB Vooma app caters to a broad user base in Kenya across all major mobile networks, including Safaricom, Airtel, and Telkom. Users can access Vooma through the mobile app or USSD *844# and do not need a KCB bank account to use the service​ . The Vooma loan can give users loan limits of up to KES 300,000. The amount available to borrowers can vary based on their creditworthiness and banking history.

KCB Vooma Loan app

3.7 out of 5
Pros Wide availability across all major mobile networks. Robust security features for peace of mind. Flexible repayment options. Registration and use of a KCB bank account are not required.
Cons Specific interest rates and loan terms are not transparently listed, requiring users to seek this information directly from the app or KCB. Loan eligibility requires an active KCB account holder, potentially limiting access for those not using KCB as their primary bank.

20. Saida Loan App

Best for: Fast and accessible loans for those with lower credit scores or less established history.

The Saida Loan App offers short-term loans to users’ M-Pesa or Airtel Money accounts. It assesses eligibility based on users’ phone activity, including mobile money transactions and communication patterns, offering a unique approach to credit evaluation. Saida offers loans starting from KES 600 to a maximum of KES 100,000. The interest rate ranges between 7.5% and 10%, tailored to individual customers​ . Loans must be repaid within 30 days​​.

Pros Quick application process with instant loan disbursement to M-Pesa or Airtel Money accounts; eligibility based on practical criteria like phone usage.
Cons High and variable interest rates may not be ideal for larger loans; the active mobile money usage requirement may exclude some potential borrowers.​

How To Choose the Right Loan App In Kenya

With the Many Loan Applications available for download, selecting the right application can be challenging. So, how do you choose the right Loan App in Kenya? Here are the Factors to consider:

  • Interest Rates and Fees
  • Loan Limits
  • Repayment Terms
  • Customer Reviews

Avoiding Pitfalls

To navigate the loan app landscape safely, be mindful of these pitfalls:

  • Before accepting a loan, understand the terms and conditions thoroughly. Look out for hidden fees or clauses that could impact your repayment.
  • Borrow responsibly, considering your ability to repay within the stipulated time frame. Avoid accumulating debt by taking out multiple loans simultaneously.
  •  Ensure the app has robust security measures to protect your personal and financial information. Check for encryption and data protection policies.


And there You have it, my dearest friends. In this blog post, I have taken you through all 20 of the best loan apps in Kenya that offer instant loans. Therefore, when going through each Loan Application, it is crucial to understand its mechanics in detail before making that big move; take Your time to understand the Loan amounts, benefits, and standout features so that you are better positioned to select a loan app that does not only meet your immediate financial needs but also aligns with your long-term financial health. What can I say anymore? I wish you all the best. However, if you need my assistance, fill out the contact form below, and I will guide you.

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