Ten apps you can get a loan from without a credit bureau check in Kenya

Have you ever paid back a loan after its due date? If your answer is yes, you are not alone.

Many Kenyans have been finding it hard to pay back loans since the COVID-19 pandemic. According to a CRB agency, at least 12% of borrowers fail to pay back their debts. However, defaulting on loans, even when it is unplanned, damages your credit history and makes it hard to get future loans approved.

What is a CRB clearance certificate?

A CRB clearance certificate is a document that shows you are not owing any lender. It is used by lenders like banks, SACCOS, etc., in Kenya to determine if they should grant someone a loan.

CRB clearance certificates are issued by the three main Credit Bureau Agencies (CRB) in Kenya- Metropol Credit Reference Bureau, TransUnion Credit Reference Bureau Kenya, and Credit info CRB Kenya.

Loan apps rarely ask for a CRB clearance certificate. Instead, they check your CRB status by requesting your credit history from any of the CRB agencies.

This is called a CRB check and it is the main reason why it is hard to get a mobile loan if you have defaulted on loans in the past.

Ten loan apps in Kenya that do not carry out CRB checks

If you need to get a loan, but do not have good credit, there's good news. There are a couple of loan apps in Kenya that do not carry out CRB checks. However, you need to be careful as most of these apps charge high-interest rates. Before deciding on getting a loan from them, it is best to calculate their interest rates and extra fees ahead.

Okash

Okash is a microlending product of Chinese-owned Opay, one of the biggest fintech companies in Africa, and a subsidiary of Opera Ltd. It grants loans to anyone between the ages of 18-55.

All you need to do is download the Okash app from the Playstore, register, link your M-Pesa wallet, and apply for a loan. Although the conditions for getting a loan from Okash do not require a credit check, the interest rate and late fees can be quite steep.

Pros

• Okash approves loans quickly
• No registration fees

Cons

• High-interest fees of up to 36%
• Late fees can quickly rack up your interest
• Its website does not provide enough information on how to use the app

Tala

Tala is distributed by Tala mobile and it is one of the most popular loan apps in Kenya. Previously known as Mkopo Rahisi, it is a product of  Inventure which was founded by Shivani Siroya.

Interestingly, Tala's loan service is only available to Safaricom (M-Pesa) users in Kenya. While you don't require a CRB check to get a loan, Tala uses your M-Pesa transaction history to decide your loan limit.

You can get started by downloading the Tala app from Playstore. All you also need is an ID and your M-Pesa wallet to register.

Pros

• No hidden fees or charges
• Its website is easy to navigate and it has a FAQ section

Cons

• It has a high-interest rate
• It has a short repayment period

MoKash

MoKash is an instant loan app and it deposits the loan directly into your MPesa account. Usually, users are able to get loans between Ksh 2000 - kSH 30,000 with a max APR of 36%. You can also get a cashback bonus when you pay it back within the expected lending period.

The MoKash app is not listed on either the Appstore or Playstore, which is a red flag in itself as it may mean the app did not pass the safety requirements required to be listed. However, you can get started by downloading the MoKash app from its website.

Pros

• No service fee
• Quick loan approvals
• The interest rate is lower than other loan apps

Cons

• The app is not listed on the Playstore
• Sometimes, the loan duration is shorter than the advertised 91 days
• High-interest rate

M-Kopa

M-Kopa is different from most of the loan apps on the list. It is a pay-as-you-go loan service that allows people to buy electronic appliances, solar systems, etc., on credit.

M-Kopa’s products include:

• M-Kopa powered: This is for people that want to buy smartphones like Samsung and Nokia on credit
• M-Kopa Solar- This is for people that want to buy solar-powered appliances like lights, fridges, etc., on credit
• M-Kopa Plus- This is for people that want to request cash loans, e-vouchers, etc.

Pros

• It is accessible- down payments and subsequent payments are made through Mpesa
• It offers affordable repayment plans
• You can get started by visiting any M-Kopa shop

Cons

• Its website does not provide enough information about its deposit and interest fees.

Okolea (Leja)

If you run a business and are looking to get a loan to stock up on inventory or expand your business but you don't have great credit, Leja is a good option to check out.

Leja is a mobile loan app that offers loans to SMEs in Kenya. It is offered by Okolea International Limited and It has over 1M downloads on the Playstore. Businesses can get started by downloading the app from the Playstore and Appstore. However, the interest rate is probably the highest on the list.

At 0.5% per day,  a year-long loan from Leja will require a payback interest of 180% — almost twice as much as the loan amount, in addition to the borrowed money. As such, it is advisable to only use Leja for small-time quick loans, so your debt doesn't spiral out of hand.

Pros

• It offers loans to SMEs
• Businesses can borrow more than once a day
• Instant loan approvals
• Flexible repayment period

Cons

• High-interest rates

M-Kash Loans

M-Kash is a relatively new loan app. There's very little information on its ownership as it doesn't have a website at publishing time. However, an inspection of its Playstore publisher shows that they have also published a second loan app called SuperKash loans.

M-Kash offers quick loans that can be approved within 5 minutes and although the loan duration can be pretty short (61 days), the interest rates appear to be better than most of the other apps on this list.

To register, simply download the M-Kash app from the Playstore.

Pros

• Quick loan approval
• The interest rate is lower than other loan apps

Cons

• It does not have a website
• There is no information about its late fees

Opesa

Opesa is similar to Okash and the two apps have almost the same UI interface. Although they are owned by different parent companies, both parent companies are traceable to the Opay/Opera establishment.

Opesa operates very similarly to Okash and you can register by getting the app from the Playstore. It is not available via the Playstore app as Google has recently been clamping down on loan apps with predatory practices.

Pros

• It has a long repayment period
• Loan approval takes a short time.

Cons

• High-interest and late fees rate
• No website to read about the product

Usawa- Mkopo Kwa Haraka

Usawa- Mkopo Kwa Haraka is the newest loan provider on this list. The loan app was officially released in June 2022 and since then has been downloaded by over 10,000 people.

Similar to most options on this list, it doesn't have a website to track who its creators/owners are. However, quick research on Playstore shows that they also own another loan app called Credit Cash. Usawa doesn't give out huge amounts in loans, but the interest rate is at a respectable 12.5% per annum. Placing it along M-Kash as one of the best options on this list for small transactions.

Pros

• Its interest rate is lower than other loan apps

Cons

• Too many fees and charges
• You can not borrow more than Ksh 47,000
• Relatively new loan app with little background information on owners.

Zenka app

Zenka is a mobile loan app offered by Zenka Finance Limited. It won the “most preferred loan app” in 2020 from Digital Tech Excellence Awards in Kenya.

All you have to do is download the app from the Playstore and fill out the application form. You will be asked to provide your first name, last name, and National ID.

Pros

• You can extend your repayment period for 12 months (ZenkaflexI)
• There is no interest charge for new customers
• Its website provides all the information you need to know about the loan

Cons

• High-interest rate

iPesa

The iPesa credit loan app is an instant credit loan app owned by Osome Fintech. You need to register with an MPesa number to access the loan.

You can download the app from the Playstore. All you need to get started is an MPesa number and a national ID.  

Pros

• No service fee

Cons

• High-interest rate
• No website and no information on the owners

Conclusion

Getting a loan without a CBE check can be a lifesaver if you need a short-term loan that you will pay back quickly. However, as we have detailed, many of these services charge exorbitant interest rates to their customers. If you decide to patronise any of these apps. The products/apps that have been listed in this article are solely for information purposes and are not recommendations.