Mobile loans offer the easiest and best way to get quick loans in Kenya. What most people consider most is the interest rate charged by these Apps.Based on reviews, below are the best mobile loans in Kenya with lowest interest rates:
- Tala—0.3% per day
- Mshwari—-9% per annum
- Equity Eazzy Personal loan—11% to 15% per annum
- M-Coop Cash—13% per annum
- Vooma Loan—4.08% to 5.91 % per annum
- Pesa Pap—7% per annum
- Timiza—-Processing fee of 1.083% of the total loan amount
- Branch—2% to 18%
When taking a loan, always go for loans from well established companies. Those companies only want small profit margins. Their interest rates will not exceed 18% per annum. But new companies will charge even up to 40% because they want to make quick money to recover their capital and start making profits.
