All about loans in Kenya
Should you borrow money? Does your financial situation justify a personal loan, or should you try to avoid any debt at all costs? These types of questions often go through the minds of folks who are contemplating applying for personal loans irrespective of the expense. While there can be considerable […]
This is a savings account that allows M-Shwari customers to save for a defined purpose and for a specified amount of time. The funds saved on the M-Shwari Lock Savings account will be kept in the account until the maturity date; this maturity date is determined by the customer upon […]
Mshwari is one of the most widely used mobile loan services in Kenya. It is not just a lending platform but a paperless banking service that allows users to save in addition to borrowing. Saving money through Mshwari earns you a 6.65% interest per annum. You access loans of a […]
This account allows you to set a target and make deposits towards achieving that target. How does it work? Go to M-PESA menu Select Loans and Savings Select KCB M-PESA Select Fixed Savings Select Target Savings Account Select Open Account Select source of funds; M-PESA or KCB M-PESA Enter Target […]
This account allows you to lock a specific amount of cash for a period of up to 12 months. How does it work? Access M-PESA menu Select Loans and Savings Select KCB M-PESA Select Fixed Savings Account Select Fixed deposit Open Account Select the source of funds; M-PESA or KCB […]
KCB MPESA is another mobile money lender affiliated with Safaricom although it is owned by the Kenya Commercial Bank. KCB M-Pesa also enables you to save, thus enabling you to borrow. KCB M-Pesa can be accessed through the M-Pesa menu on your phone, so you must have a Safaricom sim […]
Timiza is an online Mobile money app by Absa group, formerly known as Barclays Bank Kenya, one of the local banks in Kenya. As mentioned earlier, the lending app craze in Kenya has forced mainstream financial players to innovate. Unlike other apps from banks, the best thing about Timiza is […]
What is a mobile loan? A loan you get on your mobile phone. For example, you have taken a mobile loan when you use your phone to borrow from a lender to sort out your financial situation. The most common mobile loans in Kenya are from loan apps, but recently, […]
Here is a list of the best loan apps in Kenya 2022 under different categories: Mobile Loans offered by Safaricom They offer these loans directly on Safaricom, and you don’t need another app to access them. They include: Fuliza Mshwari KCB M-Pesa Mobile Loans offered by Banks Banks have […]
The Empowerment Fund Application Process Applicants must undergo business training with either Hand in Hand International or Junior Achievement and must demonstrate ability and interest to save. After the training, the applicant who is aged 18-24 and has been trained by JA Kenya; or a JA Kenya alumni whose members […]