5 Best Low-Interest Loan Apps In Kenya


5 Best Low-Interest Loan Apps In Kenya


5 Best Low-Interest Loan Apps In Kenya


5 Best Low-Interest Loan Apps In Kenya


Instant personal loans provide quick access to cash which could be very convenient for dealing with personal and business issues.

Thanks to digital lending apps, instant loans have also become very popular and accessible to all. However, some of these loans charge very high-interest rates.

When choosing a mobile loan app to apply for your loan, it is essential to ensure that you select an app that has low-interest rates. In most cases, rates below 10% are reasonable, but some loan apps may exceed 40% of interest rates. Taking such high-interest loans would create severe damage to your financial portfolio.

The following local loan apps have the lowest interest rates in the country.

KCB Mpesa

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KCB Mpesa is a close associate of the Safaricom telco company, developed following a partnership between Safaricom and the KCB bank. KCB Mpesa provides one of the lowest interest rates in the country, with an overall interest rate of 8.79 %.

KCB M-pesa also offers a flexible borrowing range, where you can borrow from KES 50 up to KES 1 million. The interest is calculated monthly and provides room for negotiating the payback period.


M-Shwari is one of the most popular loan apps in the country. Its popularity comes from the direct link between M-Shwari and M-pesa. M-Shwari is an NCBA Bank product partnered with Safaricom. This way, they could attract many customers in the Kenyan Market.

M-Shwari provides a reasonable interest rate of 9% alongside zero facilitation fees. This is one of the best rates in the Kenyan lending market. In addition, no charges will be made when you transfer the money to your M-pesa account. The M-shwari loan app increases your borrowing limit when you frequently use their services.


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The tala loan app is also considered one of the favourites by many in the country because it was the first loan app to grace the Kenyan market. Tala has been in the market since 2014, and its experience in the Kenyan credit market has contributed to streamlining its interest rates. Tala offers a competitive interest rate ranging from 5% to 15 %.

You can obtain lower interest rates with the Tala loan app based on your repayment schedules. The most convenient way is to make your payment every week. The Tala loan app reserves a fixed 11% interest for regular customers repaying their loans every week.

Apply for a loan today with Tala

Branch Loan App

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The Branch loan app is also considered among the loan app with affordable interest rates. Being an international brand, it is one of the most downloaded loan apps, with loans ranging up to KES 50,000. This facility also requires registering you with M-pesa to access the funds.

The low interest in branch range between 1% to 14 % based on the payment schedule. Making partial payments every week will help you obtain the minimum interest rates instead of paying on the last day. The credit limit is also generated based on your credit rating.

Timiza loan App

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Timiza loan App is another popular loan app in the country, with over a million downloads in the google play store. The Absa Bank PLC established the optimized loan app to provide access to credit for middle and low-income customers. Opening a bank account with Absa is not mandatory to request a loan through the app.

Once you have the app installed on your phone, applying for the Timiza loan is simple. The Timiza loan app offers low-interest fees, with 1.3% being charged on borrowing, 5% processing fees, and 20% of the processing fees charged as excise duty.

You must also pay KES 32 as a transfer fee to obtain the money into your M-pesa account.


When looking for a loan app, the interest rates for payments are critical elements that should affect your decision. Great loan apps will provide interest rates of around 10% within the Kenyan market. Making partial loan payments every week is possible to obtain much lower interest rates.

Daniel Joakim
Daniel Joakim
Daniel Joakim is a content and technical writer. He translates technical jargon into simple statements that make sense so people can easily understand their finances and start taking control of their futures. Get in touch on Twitter @joakimdanie or LinkedIn.

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