Quick soft mobile loans in Kenya – Top 5 Services that give you quick and instant soft mobile loans in Kenya to your mobile phone.

Forget the long queues, security, collaterals and other requirements you need to meet before you can get a loan from the Kenyan banks and other money lenders. You can get a loan within seconds to your Mpesa or Airtel money account fast and easily.

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In the last few years, there have been great innovations in the mobile services and mobile payment technology in Kenya. Innovators have created technology services that have enabled people to make mobile money transactions easily. With this rise has emerged the ease of getting small mobile loans direct to your phone.



The amount you receive increases depending on how timely you pay back the mobile loans. The good thing about these services is that you can choose a plan of repaying your loan that suits you. The most common plans are weekly and monthly.

The interest rates on the loans vary depending on the lender.  Below are 5 of the best mobile applications and services from where you can get soft loans instantly and security free.

Branch – Branch International Inc

Requirements:

  • You need to download BRANCH mobile application from App store.
  • Have a Facebook account or email address and Mpesa account
  • Fill in the required information and personal details

Minimum loan: Kshs 1000

Interest rate: Depends on the repayment period

Repayment: Equal weekly payments

How to get the mobile loan

  • Download branch application to your phone from the app store. ( search for branch app from google and click download)
  • Fill in the required personal details and information
  • You are ready for your first loan.
  • Kindly put this Invite referral code 9IBYR9



Tala from Inventure Mobile Ltd

Requirements:

  • You need to download TALA mobile application from App store.
  • Should have a Facebook account or email address and Mpesa account
  • Fill in the required information and personal details

Loan Limit: Kshs 500 – Kshs 50000

Interest rate: 5% – 15% depending on repayment track record

Repayment: Weekly (21 days) or One Month

How to get the loan

  • Download Tala application to your phone from the app store. ( search for branch app from google and click download)
  • Fill in the required details and information
  • You are ready for your first loan.
  • Kindly put this Invite referral code 1EH7FSU

KOPA CHAPAA by Airtel Ltd and Faulu Kenya

This is another lender who can offer you quick mobile loans without much hassle. It was founded in 2012 by Airtel Limited in partnership with Faulu Kenya.

Requirements:

Up to date Airtel money Application menu

Registered Airtel money account which has been active for 6 months

National identity card or passport (18 years and above)

Loan Limit: Kshs 500 – Kshs 10000

Repayment:  10 days

How to get the loan

  • Register/Activate Kopa Chapaa from your Airtel Money menu
  • Once you get the success notification, you are ready to start borrowing
  • Repay the loan on time to increase your credit score



Mshwari from CBA (Commercial Bank of Africa) and Safaricom

To get a loan you need to have had a good track record with Mpesa saving and transactions. Their interest rates are less and you can get as low as Kshs 100. As your repayment grows, you get higher amounts.

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Requirements:

Up to date Mpesa Application menu

Registered Mpesa account which is active

National identity card or passport (18 years and above)

Loan Limit: Kshs 100 – Kshs 20000

Interest rate: 7.5%

Repayment:  One Month (30 days)

How to get the loan

  • Go to your M-PESA menu
  • Loans and savings
  • M-Shwari
  • Loan
  • Request loan
  • Enter amount then Mpesa Pin

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KCB Mpesa

Just like M-Shwari, you can easily get mobile loans to your Mpesa through KCB Mpesa.

Requirements:

Up to date Mpesa Application menu

Registered Mpesa account which is active

National identity card or passport (18 years and above)

Loan Limit: Kshs 100 – Kshs 20000

Interest rate: 3.67% per month

Repayment:  One Month (30 days)

How to get the loan

  • Go to your M-PESA menu
  • Loans and savings
  • KCB Mpesa
  • Activate
  • Follow registration prompts
  • Request loan

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Conclusion

If you do these things you are going to be very successful. >>>> Pay the price to Succeed.

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Do you have any other way or Mobile app that provides Small loans in Kenya?

Let us know in the comment section below. Contact us for any recommendations or if you want us to feature your best entrepreneur.