How to Apply for a Mobile Loan on Your Phone

Financial access has seen tremendous changes with the invention of mobile money transfer. Now more than ever before millions of people have mobile wallets on their phones. Banking as they say is no longer the place you go, rather its done where you are. Banks are now investing more on servers and online security than they are on brick and mortar.
Your future convention bank branch therefore will be your phone. With this developments lending is also shifting from loan forms to a simple click on a banking app or anything app for that matter.
Here we look at the various mobile loan apps that allow you to borrow money with a simple click of a button provided you are registered and you are a customer of a mobile money.

If you have a feature phone , you can still get loans from Mshwari and KCB MPESA.

For those with a smart phone, you can install an Android mobile loan app
What You Need
1.A working smart phone
2.An active mobile line registered with a mobile money service especially MPESA.
3.Some MPESA transaction history
4.A clean credit score (Not listed on the CRB)

The Procedure
From your Android phone click on any of the following:
Tala Mobile loan
Timiza Mobile Loan
Branch

Once the app is installed
Open the app and fill in your bio data
Depending on the application you choose, pick a loan amount from the loan tab and click apply