List of Places to Access Quick Loans in Kenya

Looking for quick loans in Kenya? Explore our guide to find reliable platforms that offer instant approvals and flexible repayment options.

Jul 4, 2023 - 11:33
List of Places to Access Quick Loans in Kenya
List of Places to Access Quick Loans in Kenya

Life's unpredictability often leaves us with unexpected expenses and financial strains. We need a quick, easy, and reliable solution at the moment. With the advent of digital technology, quick loans in Kenya have become accessible to many, providing financial assistance when needed.

What are Quick Loans?

Before we explore the numerous platforms offering quick loans, it's crucial to understand what they are. Quick or instant loans are short-term financial solutions, usually disbursed within a few minutes or 24 hours upon application. These loans help cover urgent needs such as medical bills, emergency repairs, or unexpected bills.

While quick loans are convenient and fast, they usually carry higher interest rates than conventional loans, and the repayment terms are relatively short. Therefore, ensure you understand the terms before applying and can afford the repayments.

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Your Go-to Platforms for Quick Loans in Kenya

1. MCo-op Cash Loans

Operated by the Co-operative Bank of Kenya, MCo-op Cash offers an accessible platform for customers to access banking services and loans. To qualify, you need to be a Co-op Bank customer with the MCo-op Cash app, which is available on both Google Play and iOS.

The loan limit ranges from Ksh 3,000 to a maximum of Ksh 100,000, offering flexibility for small and substantial financial needs.

2. Timiza by Absa Bank

A product of Absa Bank, the Timiza loan service gives instant approvals at competitive interest rates. It's accessible through the Timiza app, available on Google Play Store or iOS App Store. To qualify, you need to be an M-Pesa user for at least six months, an active user of Safaricom services, and have a favorable CRB status. The loan limit is up to Ksh. 150,000.

3. NCBA Loop

NCBA Loop App, a product of NCBA Bank, offers more than just loan services. It allows customers to access banking services, set financial goals, pay bills, and transfer money. With flexible repayment periods ranging from 6 to 36 months, customers can access loans of up to Ksh 3,000,000 and overdrafts of up to Ksh 100,000.

4. Branch Loans

The branch is a socially conscious company that offers quick loans via its app. Through a detailed analysis of your phone's transaction history, the app determines your risk profile, thus determining your loan limit. As you build your credit history, the fees reduce, and you are eligible for larger loans and more flexible terms.


The result of a partnership between Kenya Commercial Bank and Safaricom, KCB M-PESA offers a virtual mobile-based bank account that allows customers to access micro-loans between Kshs.50 and Kshs. 1M. To be eligible, you must be at least 18 years old, have a registered and active Mpesa account for at least 6 months, and have an updated Mpesa menu.

6. Eazzy Loan

Eazzy Loan, a product from Equitel, offers loans with an interest rate of 2%-10% per month of the loan amount on a flat rate. The minimum loan amount is Kshs.1,000, and the maximum loan period is 12 months.

7. OKash

OKash is a micro-loan service by Opera, offering loans ranging between Ksh. 500 and Ksh. 100,000. With a 14 to 365 days repayment period and an interest rate of 5% -36%, OKash is a convenient solution for quick loans. The approval process requires a credit check, but you can often get your loan within a few hours of applying.

8. Tala Loans

Tala is an innovative digital lending platform that offers personalized loans in real-time, right through your smartphone. After downloading the Tala app, customers are guided through a simple application process. Tala then uses a proprietary algorithm to assess your creditworthiness. Loans range from Ksh. 500 to Ksh. 30,000 with repayment terms of 30 days or two monthly installments.

9. Zenka Loan App

Zenka is a flexible personal finance platform offering fast, paperless loans that are easy to access from your mobile device. They offer first-time loans for free, with 0% commission. Subsequent loans range from Ksh. 500 to Ksh. 30,000, with a service fee of 9%-29%. You can repay the loan in full at the end of 30 days or earlier or extend the repayment period by choosing the flexible repayment option.

10. Utunzi Loan App

Utunzi offers a personal budgeting tool that leverages data science to understand individual needs and offer credit. Users need to download the app and sign up. After applying, the platform uses AI to determine the user's credit score. Loans range from Ksh. 500 to Ksh. 100,000, and the repayment period varies based on the amount borrowed and the customer's profile.

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SUMMARY TABLE: 26 Places to Access Quick Loans in Kenya

Loan Provider Loan Amount Repayment Period Interest Rate
Timiza loan app Up to Ksh. 150,000 30 days 5% facility fee
NCBA Loop Up to Ksh. 3,000,000 Flexible (6 to 36 months) Varies
MCo-op Cash app Up to Ksh. 500,000 Varies 3% appraisal fee, 1.083% commission, 20% exercise commission
HF Whizz app Up to Ksh. 50,000 Varies 10% interest rate
Eazzy Banking app Up to Ksh. 3,000,000 Varies Varies
PesaPap loan app Varies Varies Varies
NIC NOW app Not available for loans N/A N/A
Vooma loan Up to Ksh. 3,000,000 24 hours 6.91% interest rate, no processing fees
KCB Mpesa Up to Ksh. 1 Million 1 month, 3 months, 6 months 1.16% interest rate per month
M-Shwari Up to Ksh. 50,000 30 days 9% interest rate
Fuliza Mpesa Overdraft facility N/A N/A
mKey Up to Ksh. 1 Million Varies 9% interest rate
Branch Up to Ksh. 50,000 2 weeks to 1 month 6% to 16% interest rate
KCB M-PESA Up to Ksh. 1 Million 1 month, 3 months, 6 months Varies
M-Shwari Up to Ksh. 20,000 30 days 7.5% interest rate
MCo-op Cash loans Up to Ksh. 100,000 Varies Varies
Eazzy Loan Up to Ksh. 1,000,000 Varies 2%-10% interest rate per month
OKash Up to Ksh. 100,000 14 days 14% interest rate
Haraka Up to Ksh. 5,000 7-30 days 23.45% interest rate
Timiza Up to Ksh. 150,000 30 days 6.17% interest rate
Whizz Up to Ksh. 50,000 30 days 7.725% interest rate
Loop Up to Ksh. 3,000,000 Varies Varies
Tala Up to Ksh. 30,000 30 days 7% to 19% fee (30-day loan), 5% to 14% fee (21-day loan)
Safaricom Fuliza Overdraft facility N/A N/A
MCo-op Cash Salary Loan Up to 1.5 times net salary received in Co-op Bank account, maximum of Ksh. 200,000 Varies 8% fees deducted up-front
NIC Bank mobile banking loans Varies 30 days 1.13% interest rate, 4% processing fee

Considerations When Choosing Quick Loans

Even though quick loans are helpful in emergencies, it's important to make informed decisions. Before borrowing, consider the interest rates, repayment period, and other hidden charges. Remember, defaulting on loan repayments could negatively affect your credit score, limiting your ability to borrow in the future.


With the fintech boom, accessing quick loans in Kenya has become relatively easy. However, financial discipline is paramount to avoid falling into a debt trap. Therefore, always ensure you have a repayment plan in place before borrowing. And remember, loans should be used for emergencies, not as a way to fund your lifestyle.

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Joseph Richard Joseph is a graduate of Mathematics and Computer Science (Applied Option). With expertise in Technology and Finance, he brings his knowledge to the field, demonstrating an authoritative understanding of these interrelated areas. Joseph is pursuing a Master's in Software Engineering, further expanding his skill set.