Mobile Loans

Mobile Loans

 Mobile Loans

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Apply For Mobile Loans From Your Phone Easily!

Back in the day, cyber shopping meant shopping on a desktop computer. As laptops became more powerful and affordable, shopping on the go became more popular. With Smartphones and tablets mobile shopping really took off. It was only a matter of time before mobile loans would begin to be offered. Today, it’s possible to initiate mobile loans through dedicated mobile loan apps and through websites that have been optimized for mobile devices.  LoanNow also offers mobile loans with the same great lending experience that we provide through our full website.
Mobile Loan Apps:
mobile loans in kenya 2016
Mobile Loans One of the main advantages of dedicated apps for mobile loans is that that security is integrated into the programming.  One of the main disadvantages of dedicated apps for mobile loans is that adequate security may or may not have been integrated into the programming.  Before submitting your sensitive personal and financial information to lenders utilizing dedicated apps for mobile loans, check out their security information and privacy policies.
Mobile Loan Websites:

Many lenders, including LoanNow, feature websites that are optimized for mobile devices.  The process for applying for mobile loans is similar to the process for applying for online loans on your laptop or desktop computer.   A major concern with applying for mobile loans is the security of your personal information.

Lenders are responsible for securing your information during the application process for mobile loans.  For instance, LoanNow features bank level security for its online lending process whether you apply on your computer or through a mobile device.  LoanNow also does not share your personal information with marketers or other third parties.
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You also bear responsibility for securing your Smartphone or tablet while applying for mobile loans, just as you would secure your desktop or laptop computer.  Your device should be running the most current version of its operating system. Apps such as Lookout are available for both iOS and Android devices to monitor signs of malicious activity.  Additional apps for virus checking and malware removal are also available for Android-powered devices. These apps are often available free or for modest prices.

LoanNow Mobile Loans
Additional Security Measures:

Beyond securing your mobile device and dealing only with lenders that take security seriously, you should also be smart about when and where you apply for mobile loans. Think twice before using a public Wi-Fi connection.  While it’s understandable that you would want to spare your precious data units – the money you save by tapping into a public Wi-Fi network can be wiped out if your tablet or Smartphone is compromised by a hacker or a spammer. Using a virtual private network minimizes the risk of accessing public Wi-Fi networks.  By utilizing safe mobile access practices along with our secure mobile website, your borrowing experience with LoanNow can be both safe and convenient!
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Why LoanNow

    5-Minute Application

    All it takes is a few minutes. We’re fast, easy and headache-free.
    Fast & Easy Approval

    Get your quick loan approval online. Money in minutes. †
    Deposit to Your Account

    Funds are deposited fast into your bank account! ‡

How It Works

    Apply Now

    Complete our easy online application. It takes 5 minutes and there is no paperwork and no faxing required.
    Get Approved

    You will get a quick loan approval decision. We are a direct lender so there is no long wait for an answer.
    Get Your Money

    We deposit your money right into your bank account. Your installment loan payments come from the same account - automatic, no hassles.

What We're About

        "Our mission is to build the fastest & easiest way to get a loan."

    Jesse, The Team

Grow Your Score

Our personal loans reward you for good behavior instead of trapping you in an endless spiral of interest & penalties. Together, we grow your LoanNow score to unlock better rates.
- mobile phone loans in kenya

8 ways to Get Instant Unsecured Loans in Kenya.

Have you ever been in a situation where you were in dire need of a financial boost but nothing was forthcoming. Well, I have. The first thought that came to my mind was to borrow from friends and family which I find a tad disturbing (ego and all). The other option would be to go to a Shylock who will most certainly under value my collateral and charge an exorbitant amount of interest on the loan, that wouldn’t be wise either. At this point it would seem like all is lost, right? Wrong.
In dire need of a financial boost but nothing was forthcoming

In dire need of a financial boost but nothing was forthcoming

Due to the technological milestones that have taken place over the years, innovative minds have devised ways of creating platforms that provide unsecured loans with zero paper work or guarantors (Faulu Sacco) and you don’t even have to step into a bank.

I’m talking about Mobile Micro Loans. These are the likes of MShwari and KCB/Mpesa loans. Here with is a  compilation of eight Mobile Micro Loan schemes from the most familiar to the least that you can use to get a bit of a boost in those tough times…

Mshwari . 

This is a paperless banking service offered through M-Pesa, it was conceptualized by Safaricom and Partners with CBA (Commercial Bank of Africa). It began operation in the year 2012 and has been active since.
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To be able to access loans from Mshwari you have to be 18 years of age, have a registered and active Mpesa account for at least 6 months and have the updated Mpesa menu that facilitates Mshwari. The minimum loan limit is 100 shillings and the maximum loan limit is unknown. Repayment duration is 30 days and the interest is set at 7.5%.   In case you default the 30 day extension and a further 7.5% facilitation fee will be charged on the outstanding loan balance.
MSHWARI LOGO

MSHWARI LOGO

KCB/Mpesa Loan.

It started in 2015, it is a savings account that allows you access instant loans of up to a million Kenyan shillings by dialing *844#

You are even able to borrow instantly without saving. Disbursement is to KCB M-PESA Account and the  Loan limits are between Kshs.100 to KSh 500,000 and with an option to top up.

There is a flexible repayment program of 1 month at 6%, 3 months 5% per month and 6 months 4% per month. via KCB M-PESA Account, M-PESA, and Mobi/Branch/Mtaani. Partial payment option is also provided.
KCB-M-PESA-Account LOGO

KCB-M-PESA-Account LOGO

To qualify for loan and get a KCB M-PESA Account, you will need to: Be a registered Safaricom M-PESA customer. Have an active Safaricom M-PESA account. Have in your possesion any one of the following identification documents. Kenyan National ID, Kenyan Passport, Alien ID, Diplomatic ID (Registered on IPRS), Military ID

All frequent users of Safaricom services and existing KCB account holders will be allocated a loan limit upon opting into the KCB M-PESA Account. Please note that not all customers will qualify automatically for loans.

Tala (Formerly) Mkopo Rahisi

Tala began operation in 2014 as Mkopo Rahisi but Rebranded to Tala. To qualify for a loan on Tala you have to Download and Install the application known as Tala from Google Play Store and then link the App to your Facebook account.
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There is a list of personal questions that you have to answer so as to qualify for the loan. The minimum Loan offered is 500 and the maximum is 50,000. Repayment is 3 equal weekly installments at 15% interest. The loan will be submitted to your Mpesa account and repayment will be via Mpesa to 851900 as the Paybill number.

Branch
Branch LOGO

Branch LOGO

Branch is a San Francisco and Nairobi based company that was Founded in 2015. Its primary objective is, by using technology deliver financial services to emerging markets at a reduced cost. The first product that they chose to begin with is providing a short term credit facility to their customers.
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To be legible for this service you have to be a registered Mpesa user, you must posses a Facebook account that bears the same name as your legal documents. You will need to download and install the Branch app from Google Play Store. Link the app to your Facebook account. Fill in the required details. Mpesa number, National ID etc. You will also have to verify your account by clicking on the link that will be sent to your phone via SMS.
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The minimum loan limit is 1000 shilling and the maximum is still unknown. Disbursement and repayment mode is via Mpesa on 3 weekly installments. The interest will be determined by your repayment, and ultimately increase or decrease your credit score/ worthiness.

Saida.

This is another mobile based money lending service that offers loans to customers at an interest rates that are tailored for the customer. To be legible for this service you have to be an active M-pesa user. You have to make calls receive and use data services daily. You also have to Download and Install the Saida App from Google PLay Store. Fill the required information to request for an invitation. The Invitation could take  3 to 7 days.

The least amount that can be borrowed is 600 shillings and the maximum limit is 25,000 shillings.

Loan repayment is via M-Pesa on paybill number 854400

Defaulting of payment might lead to you being handed over to a collection company or even being listed on the CRB as a defaulter.



Pesa Na Pesa

This is another mobile phone based borrowing and lending product developed by AVL Capital ltd that offers emergency loans to persons that  need short term emergency financing.  This facility is payable within 7 days for amounts up to Kes. 5,000.
pesa na pesa logo

pesa na pesa logo

The interest rates are at 10% but early repayments will attract no charges.

Disbursement of funds is to a customer’s M-Pesa account and repayments are to AVL CAPITAL on Paybill Number 990390 and the account number as the borrowing phone number. To avoid delays in updating customer details pay using the borrowing phone number.
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To register dial *415*33# and follow the system prompts by filling your details.

An automatic limit will be given to you.

Kopa Chapaa.

This is a product of Airtel Ltd that began operation in 2012 and partners with Faulu Kenya. To be legible for this service you have to be a registered and active Airtel Money user.  The loan limits are 500 shillings minimum and 10000 maximum. To apply for Kopa Chapaa, you dial *305*2#  and follow the prompt. Repayment is via Airtel money. Loan interest rates vary with the amount.

Pesa Pata

This is another way to not only borrow money but to also lend money.  It is called peer-to-peer lending. It allows lenders to interact with creditworthy personal loan borrowers, so both receive a much better deal. Peer to Peer lending (P2P) offers both borrowers and lenders significant efficiencies over the traditional banking model. This is done by cutting out the large financial institution in the middle, lenders receive great returns and borrowers receive low interest and flexible loans.
pesapatalogo

pesapatalogo

To be legible for this service as both a lender/ borrower you dial *269# Follow the easy prompts and become a member. There are minimal charges for both the lender and borrower. Follow the prompts and complete the process but if you experience any difficulty in any stage of this process please visit Pesapata.com



Getting instant loans in Kenya has been eased greatly by the platforms listed above and many more not mentioned. You only need to have a phone and mostly an active M-Pesa account to access funds and avoid the stress of having to borrow from friends or Shylocks


With the information we provide about   quick mobile loans in kenya

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see our other references are also others which are not less good about Prospects and Dilemmas of Information and Communication Technology (ICT) in University Education


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