You need money quick, but none of the loan apps online can help you because you are in CRB. It can be depressing. Very few of these apps will risk lending you if you don’t have a good credit score.
But don’t worry. There are still a few apps you can try out.
In this article, we’ll explore some of the best loan apps in Kenya that don’t rely solely on CRB checks. We’ll discuss their features, loan limits, and what makes them stand out in the crowded digital lending market.
Also Read:
How To Check CRB Score In Kenya
Best Loan Apps in Kenya Without CRB Infographic
Free Online Loan Apps in Kenya Without CRB Checks
The Credit Reference Bureau (CRB) plays a crucial role in Kenya’s lending landscape. It collects and maintains individuals’ credit histories, providing this information to lenders to assess creditworthiness.
However, in 2020, the Central Bank of Kenya restricted numerous mobile loan apps from accessing CRB services, creating a new niche in the market.
Whether you’re looking to cover an unexpected expense, bridge a cash flow gap, or invest in a small business opportunity, these apps might just be the financial solution you’ve been searching for.
1. Tala
Download Tala on Google Play Store
| Attribute | Details |
|---|---|
| Amount | KES 500 – KES 50,000 |
| Interest Rate | 11% – 15% per month (varies based on user profile) |
| Duration | 21 – 61 days |
Tala has established itself as a prominent player in Kenya’s digital lending space over the past few years. Their appeal lies in their streamlined approval process, which doesn’t rely on CRB checks. This approach significantly reduces processing times and increases accessibility for many borrowers.
However, it’s important to note that Tala employs alternative methods to assess creditworthiness. They analyze user data from your phone, including M-Pesa transaction history, to gauge your financial behavior and determine loan eligibility.
2. OKash
Download OKash app on Google Play Store
| Attribute | Details |
|---|---|
| Amount | KES 500 – KES 70,000 |
| Interest Rate | Up to 1% per day |
| Duration | 14 – 61 days |
OKash, a Kenyan-based lending platform, has gained traction in the market by offering loans without CRB checks. Their loan offerings are quite substantial, with borrowing limits reaching up to KES 70,000.
Similar to Tala, OKash utilizes alternative data sources to evaluate potential borrowers. They may analyze your M-Pesa transactions, call logs, and other phone data to create a comprehensive picture of your financial habits.
3. Branch
Download Branch on Google Play Store
| Attribute | Details |
|---|---|
| Amount | KES 500 – KES 70,000 |
| Interest Rate | 7% – 14% per month (depends on loan term and user history) |
| Duration | 4 weeks – 12 months |
Branch, another popular mobile lending app in Kenya, has also been affected by the CRB access restrictions. However, this hasn’t stopped them from continuing to provide loans to Kenyans in need.
Branch offers a wide range of loan amounts, starting from as low as KES 250 and going up to KES 70,000. Their repayment terms are flexible, ranging from one month to a full year (365 days). This variety allows borrowers to choose options that best fit their financial situations.
One of Branch’s key advantages is its fully digital application process. Users can apply for loans at any time, day or night, directly through the app. This convenience factor, combined with their quick processing times, makes Branch an attractive option for those seeking immediate financial assistance.
4. Opesa
Download Branch on Google Play Store
| Attribute | Details |
|---|---|
| Amount | KES 500 – KES 500,000 |
| Interest Rate | 16.8% – 36% per month (depends on loan term and user history) |
| Duration | 65 – 91 days |
Opesa distinguishes itself in the Kenyan digital lending market with its straightforward approach and competitive interest rates. They offer loans at an annual interest rate of 36%, which may be more favorable compared to some other short-term lenders in the market.
Opesa provides flexible repayment terms, typically ranging from one to three months. However, they allow borrowers to repay their loans at any time before the due date, up to a maximum repayment term of six months.
The application process with Opesa is remarkably quick, often taking just five minutes to complete via their mobile app. They keep the requirements simple, asking for basic information such as your phone number and email address for identification purposes.
5. Zenka
Download Zenka on Google Play Store
| Attribute | Details |
|---|---|
| Amount | KES 500 – KES 30,000 |
| Interest Rate | 0% for first loan, then 10% – 15% per month |
| Duration | 61 days (with options for early repayment) |
Zenka has emerged as a popular digital lending platform in Kenya, offering a streamlined loan application process that doesn’t rely on traditional Credit Reference Bureau (CRB) checks.
By leveraging alternative data sources and advanced algorithms, Zenka assesses creditworthiness based on factors such as mobile money transaction history, phone usage patterns, and other digital footprints.
One of Zenka’s key features is its quick and user-friendly loan application process. New users can download the app, register, and apply for a loan within minutes.
How Loan Apps Without CRB Checks Operate in Kenya
In recent years, Kenya has seen a surge in mobile loan applications that operate without conducting Credit Reference Bureau (CRB) checks.
Here’s how they work:
1. App Installation
The journey begins with downloading the loan app:
– For Android users, visit the Google Play Store.
– iOS users should head to the Apple App Store.
– Search for the desired loan app using relevant keywords.
– Tap the “Install” or “Get” button to download and install the app on your device.
Ensure your smartphone has sufficient storage space and a stable internet connection for a smooth installation process.
2. User Registration
Once installed, you’ll need to create an account:
– Launch the app and look for a “Sign Up” or “Register” option.
– Provide essential personal details, typically including:
* Full name (as it appears on your national ID)
* National ID number
* Active phone number
* Email address (in some cases)
– Many apps require linking to your mobile money account, often M-Pesa in Kenya. This facilitates seamless loan disbursements and repayments.
– Verify your identity through a One-Time Password (OTP) sent via SMS to your registered phone number.
Some apps may request additional information or documentation to enhance security and improve loan assessment accuracy.
3. Loan Application Process
After successful registration:
– Log into your newly created account using your credentials.
– Navigate to the loan application section within the app.
– Fill out the application form, providing details such as:
* Employment status (employed, self-employed, unemployed)
* Monthly income or average earnings
* Purpose of the loan
* Desired loan amount
* Preferred repayment period
– Carefully review the loan terms and conditions, paying close attention to interest rates, fees, and repayment schedules.
– Submit your application after ensuring all information is accurate and complete.
4. Innovative Data Analysis for Risk Assessment
In place of CRB checks, these apps utilize sophisticated algorithms to analyze various data points:
– Mobile Money Transactions: They scrutinize your M-Pesa (or other mobile money) history, examining:
* Frequency and consistency of income
* Spending patterns
* Savings behavior
* Bill payment regularity
– Phone Usage Data: Some apps may request permission to access:
* Call logs (frequency and duration of calls)
* SMS history
* Contact list (to verify provided references)
* Installed apps (to gain insights into your digital footprint)
– Social Media Integration: A few apps might offer the option to link social media accounts, using this data to build a more comprehensive user profile.
This approach allows lenders to create a nuanced picture of your financial behavior and reliability.
5. Quick Approval
The loan evaluation process is typically swift and automated:
– Advanced algorithms process your application and analyze the collected data in real-time.
– This automated system usually reaches a decision within minutes, sometimes even seconds.
– You’ll receive an instant notification through the app or via SMS, informing you of the loan approval status.
– If approved, the notification will include details such as the approved loan amount, interest rate, and repayment terms.
7. Instant Loan Disbursement
Upon approval, the loan amount is quickly transferred to your linked mobile money account:
– The process is usually instantaneous, with funds appearing in your M-Pesa (or other mobile money) account within moments of approval.
Other Top Loan Apps That Do Not Rely on CRB
Here are more apps you can also give a shot:
1. Okolea Quick Loans
2. Hikash
3. Senti
4. Kua
5. Kash Pesa Loans
6. Utajiri loan app
7. Craft loan app
8. Pezesha
9. Izwa Loans
10. Kopa Jirani
11. Lendi mkopo
12. Aspira
13. Umba (Formerly Mkopo Kaka)
14. Kano Loan App
15. Saida
16. Fululiza Senti
17. iPesa
18. Kenya Quick Loan Shop
19. LionCash
20. Fair Money
Good Luck!
Having a negative Credit Reference Bureau (CRB) listing can feel like a roadblock to financial assistance. Many traditional lenders and popular loan apps rely heavily on CRB reports to assess creditworthiness, leaving those with poor credit histories in a tough spot.
However, some forward-thinking companies have recognized that a person’s financial situation is more complex than a single credit score. They’ve developed alternative credit scoring models that look beyond CRB listings, considering factors like income stability, spending patterns, and even social media activity.
Good luck on your financial journey! May these tools serve as a springboard to greater financial stability and success in your future endeavors.
