Getting a loan from a bank or any other cooperative can be along and tiresome process but Thanks to technology today you can easily get a loan from your phone and even much faster.
The following are some top Mobile Loan Apps frequently used by Kenyans:
1. Branch
This is the most downloaded app that targets Kenyans with android mobile phone devices with active and established Facebook and M-pesa accounts. The service is accessible through a mobile phone app.Their loans are instant and start from as high as Sh2,000 for a start. The loan repayment period ranges between a month and one year charged on a flexible interest rate.
2. Tala
Formerly known as Mkopo Rahisi. They pride themselves on providing loans in the shortest time possible; 5 minutes. They provide loans ranging from Sh1,000 to Sh50,000. It’s the second most download Loan app on google play.
3. Utunzi
It is the third most downloaded loan app in Kenya. Utunzi enables clients to apply for loans ranging from Sh500 to Sh100, 000. Their Loan approvals depend on a borrower’s credit score considering also the information provided in the sign-up questionnaire.
4. Stawika
Stawika automatically evaluates mobile phone data as well as other factors to assign loans. The process takes less than 5 minutes and your loan is ready. Most people do not know about stawika.
5. Haraka
With more than Sh100,000 downloads from Google Play Store, Haraka loan app offers Kenyan loans ranging between Sh500 and Sh5,000. All one needs to do is to sign up using their Facebook account and apply for a loan.