There are apps which can provide a million or more as instant loans in Kenya,but do people know them? The loans provided are even withdrawable via M-PESA, which is a nice thing on top.
When we talk about loan apps and try to list them, this page is going to be long and most probably boring to read. Of course it's not something I would wish to do because I want to help you my readers to find the right information about loans in the shortest and satisfying time possible.
I understand you've heard about Tala , Branch, Zenka, Timiza and even vooma but I promise you these apps didn't make it to the prime list of apps which can give ksh 1 million and over as loan which am about to name below.
On average loan apps in Kenya give ksh 30,000 as the maximum loan amount. This amount is only given to the most qualified borrowers. This simple means very few get to this figure.
At a glance, the maximum loan that Vooma, Zenka,Tala, Branch and Timiza can give is ksh 300,000 ,ksh 30,000 ,ksh 30,000 ,ksh 100,000 and ksh 150,000 respectively.
Sometimes borrowers need more than what the ordinary digital lenders can give - a million and above. But do we have such lenders in Kenya?
The answer is a big 'yes' and that's not the good news. There more than one apps which can give KES 1 million instantly like nothing happened, just like that. Of course the client must be in good standing with the CRB or rather with the lenders.
How to Withdraw a million to M-Pesa
The amazing part is that the loans though huge (KES 1 million and above) can still be withdrawn via M-Pesa. But how?
M-Pesa, which is the revolutionary mobile money service in Kenya if not in the world only allows a maximum of KES 300,000 per day as total transactions per account. However,it is still possible to have a million split in bits of ksh300,000 and deposited into MPesa accounts for easy use.
5 loan apps that provide a million and above as loan via M-PESA
1. KCB M-PESA Loans
This is best app owned by a very stable bank - KCB. Through KCB M-PESA, a client can borrow up to ksh 1 million. The process is instant and the cash is available for use immediately.
To get ksh 1 million KCB M-PESA loan, you can use any of the three ways to access the facility;
- Dial *334#
- Use M-PESA App
- Use Safaricom line M-Pesa toolkit
2. Mco-op Cash Loans
A product of the cooperative Bank of Kenya, mco-opcash can give up to ksh 1 million as loan. The loan can be accessed via mco-op Cash app or dial USSD code *667#.
3. Eazy Loan
Eazy loan is a facility by Equity bank which is another stable bank in Kenya and East Africa too. The maximum a customer can get from Eazy loan is KES 3,000,000. The loans are instant.
To access Eazy loan a customer must use Equity Mobile App or dial USSD code*247#.
4.M-Pesa App Loans
Through M-Pesa App you can get a loan up to Ksh 1 million from KCB M-PESA. Kindly note that, Safaricom doesn't give give such a higher amount as loan via the app.
The only Safaricom loans available via the Mpesa app include, Fuliza, halal,faraja and M-Shwari.
5. NCBA Loop App Loans
NCBA Bank through NCBA loop gives customers loans up to ksh 3,000,000 instantly via the NCBA Loop App.
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