Hottest Mobile Loan In Kenya This Month
Tala Loans
Tala is a California-based finance application in Kenyan market that provides credit through your mobile phone. All with low charges and an easy repayment schedule. Tala disburses loans via M-pesa of up to Kshs.50, 000. It was formerly known as Mkopo Rahisi before it was upgraded and rebranded to Tala. With the latest version you can see new features such as checking your credit limit and also seeing customers’ success stories. Once you download Tala you are asked to scan your M-pesa SMS and other information for verification of your identity and creditworthiness. This ensures that you are given a fast loan.
Eligibility for the loan
The Android app collects data from the applicant’s mobile phone such as call patterns and mobile money history to build a credit score. The average loan is Kshs.10, 000 but first time applicants are given Kshs.2, 000 and have to build their profiles over time.
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Top 10 Unsecured Bank Loans
The unsecured personal loan with bank of Africa ranges from Kshs.50, 000 up to Kshs.2, 000,000. For the people who are salaried with a minimum amount of Kshs.25, 000. The repayment duration ranges from 12 months to 48 months. The response is given to you within 48 hours.