Monday, November 26, 2018

How to apply for Tala Kenya loan (formerly Mkopo Rahisi)

Tala Kenya, formerly Mkopo Rahisi is a mobile loan service which enables one to borrow up to Ksh. 50,000. 

Their initial loan limit is Ksh. 500 and it increases based on how quickly you repay the borrowed money.

Below is a detailed procedure on how to apply for Tala Kenya loan (formerly Mkopo Rahisi).

1. For one to get a loan with Tala Kenya, you will be required to download the Tala Kenya app on your android phone. 

2. Afterwards you will be required to create an account with them and answer a few questions which will determine whether you are eligible or not.

3. For successful applicants who qualify to get a loan, you can choose whether to repay Tala Kenya their loan in two installments within a span of one month or full amount at the end of the month.

4. Once Tala Kenya has approved your loan, they will send the money to your phone number via M-Pesa. Note that your loan limit increases if you repay a loan you took on time.

There are three loan tiers on Tala Kenya:

o Bronze: Ksh. 500 – Ksh. 4,999
o Silver – Ksh. 5,000 – Ksh. 9,999
o Gold – Ksh. 10,000 – Ksh. 50,000

The Tala Kenya interest rate is usually between 11% & 15%.

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