Tala 30 Day Personal Loan: Product Details & How to Apply

Rates available from as of 1st April 2021

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Tala

30 Day Loan

Easy Apply

Amount

Ksh1k - 30k

Duration

1 month

Interest Rate

Total Cost Including Institution's Other Fees

7% - 19% per loan

Typically approved within 24 hours

Easy Apply

visit website

Loan Type

Unsecured Loans

Total Cost Breakdown (Loan Fees)

Interest Minimum: 7%
Interest Maximum: 19%
Processing Fee: None
Insurance Fee: None
Withdrawal Fee: None
Late Fee: 8%, Flat
Other Fees: None

Disbursement Details:

Institution Type: Digital Lender
Application Method: App
Disbursement Method: M-Pesa

Repayment Details:

Repayment Frequency: Flexible
Early Repayment: Allowed
Payment Method: Bullet or installments

Eligibility Requirements:

Smartphone: Required
CRB: Must be in good standing
Income: No Minimum
Employment: Not Required
Network: Safaricom Customer
History: No requirements
Documents: National ID
T&C Link

Representative Example of Loan Costs:

Example Loan Amount: ksh10,000
Representative Loan Cost: 19%
Total Loan Repayment Amount: ksh11,900

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How to Apply

Money254 Review

Product Pros:

Fast application process
7 day grace period before late fees charged
Loan limit can grow fast with good repayment

Product Cons:

Small starting loan limit
High late fees (8%)
Must be an M-Pesa customer

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How to Apply for Tala Loan, App, Repayment, Fees & Contacts

Tala is a loan app offered by Tala Mobile. The app is available on Google Play Store, has over 5 million downloads, and has a 4.4 out of 5 star rating.

Anyone with an Android smartphone can apply for a loan and receive an instant decision, regardless of their financial history.

To access a loan, you only need to download the Tala app on your phone, register, and then proceed to submit your loan application.

Learn more about Personal Loans available in Kenya on Money254

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