Mobile Loan Apps With Low Interest Rates in Kenya 2019 2020

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Mobile Loan Apps With Low Interest Rates in Kenya 2019 2020
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Loan Apps with low interest rates

Mobile loans are easing Kenyans survival given the large price fluctuations of commodities in the market.

The loans are quite convenient and do not necessarily mean one has to pay for the interests so heftily. They are easily accessed on smartphones and are a ready solution to those living in marginalized areas. It is also advisable that you pay for the loans you take up to avoid getting blacklisted by the Credit Reference Bureau (CRB)

It is important to note that interests vary depending on a mirage of factors and any borrower considers the interest applied to the loan they are borrowing. We delve into the interest applied by mobile loan apps and bring five of those that are convenient and with the least interest for your consideration.


Saida is a mobile app that offers you loans as long as you’re Mpesa or Airtel Money accounts have been very active.

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To determine whether you are eligible for the loan, the app tracks your transactions to see whether you are in a position to repay.

To access Saida loans, one can simply downloads the app from Playstore, inputs the mobile number and await an invitation.

Be patient though, the invitation takes 3 -7 days as they track your data to grant you approval. Saida’s minimum loan limit is 600 shillings with the maximum being 25000 shillings. The best news is that it offers you a 10 percent rate.

On approval, the acquired loan is sent to you via M-Pesa with expectations of being repaid via the same platform on M-Pesa Paybill number 854400.


M-shwari is a product of Safaricom, which is why it disburses its loans via Mpesa. It was formed in partnership with Commercial Bank of Africa (CBA).

A large percentage of Kenyans, who are Safaricom’s subscribers, are subscribed to Mshwari.

The app offers a minimum loan limit of 100 shillings with a maximum limit that is pegged on one’s use of the service, for instance, how much one saves regularly and whether you pay up loans from the app within the given time frame.

M-Shwari attracts an facility fee of 7.5 with no charges when one is transferring the money from M-Shwari to M-Pesa.

KCB Mpesa

KCB M-Pesa’s inception followed Safaricom and Kenya Commercial Bank’s partnership in 2015.

It is not a requirement that one has an account with KCB to borrow a loan from KCB Mpesa.

KCB M-Pesa’s minimum loan limit is 50 shillings with a maximum of a whopping 1million shilling.

Loans from the app attract an interest of 1.16 percent on monthly basis. The loan also attracts a negotiation fee of 2.5 percent that is one-off.


Founded in 2015, Branch is one of the most downloaded mobile loan apps offering loans up to 50,000 shillings.

To qualify for a loan with Branch, one requires to be registered on M-Pesa. You must have an active verifiable Facebook account as the app matches your Facebook’s username to those on your Identity card.

Branch’s interest is from 1 to 14 percent monthly depending on how the borrower repays the weekly installments required. A good credit history is used to regulate loan limits with the minimum one can acquire being 1000 shillings and the highest limit relies on one’s credit history. The money is then sent to one’s MPesaa account and has to be repaid using the same mode.


Previously known as Mkopo Rahisi, Tala is easily accessed on smartphones and was the first instant mobile loan app to be launched in 2014.

Tala gives you loans with a one off processing fee of 5 to 15 percent. The loan given is dependent on your profile and the amount you need to take as a loan.

A fixed interest of 11 percent is charged on customers who repay their loans on weekly installments and 15 percent for those that repay on monthly installments.

The money is then sent to your M-pesa account with the minimum limit being 500 shillings and the maximum being 50,000 shillings.

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