Data checked 15 October 2026. This is a comparison, not financial advice.
The cheapest licensed loan for KES 5,000 over 30 days is KCB M-PESA at KSh 5,446.50 all-in, with M-Shwari close behind at KSh 5,375 (you receive KSh 4,925). We compared 7 CBK-licensed lenders on cost, price transparency, limits, conduct and access, using each lender's own published prices. Overall, M-Shwari ranks first.
Quick picks
- Cheapest for one month: KCB M-PESA, KSh 5,446.50 all-in on KES 5,000.
- Best with no smartphone: M-Shwari, *334#, KSh 5,375 (you receive KSh 4,925) all-in.
- Best for a same-day shortfall: Fuliza, KSh 50 if repaid before midnight.
- Best for longer than a month: Branch, 1 to 12 weeks.
- If you are CRB-listed: none of these is a safe bet, because each one checks or reports to the bureaus. See how to get off CRB and our guide to loan apps that don't check CRB.
How we rank
Each lender gets a score out of 100: cost 40, price transparency 15, limits and terms 15, conduct and privacy 15, and access 15. A current CBK licence is a gate, not points. Cost is the total you pay on KES 5,000 for 30 days, scored on the top of any published range. Affiliate partners get no points. Full method and every input.
The ranking
1. M-Shwari, best for lowest all-in cost on USSD
M-Shwari is the loan and savings account inside the M-PESA menu, run by NCBA Bank. Safaricom publishes the whole price in one line, loan fee plus excise, which is rarer than it should be. You borrow from the M-PESA menu with no app and no smartphone, and the money lands in M-PESA. Your limit depends on how long you have used M-PESA and how actively you use Safaricom services. On KES 5,000 for 30 days you pay KSh 5,375 (you receive KSh 4,925) in total (KSh 450 in fees and excise). Limits: KSh 100 to 50,000. Term: one month. Borrow on *334#. CRB: Yes. As a CBK-regulated bank, NCBA must share repayment data with licensed credit reference bureaus.
Drawback: The excise is taken off before the money arrives, so you receive a little less than you asked for. Safaricom also prints two different limit ranges on the same page.
Facts: CBK, commercial bank (NCBA Bank Kenya PLC, offered with Safaricom) · KES 5,000 for 30 days: KSh 5,375 (you receive KSh 4,925) · Limit: KSh 100 to 50,000 · USSD: *334# · Score 91.7 of 100
Best suited for: lowest all-in cost on USSD. Full M-Shwari review
2. KCB M-PESA, best for larger loans without an app
KCB M-PESA sits next to M-Shwari in the M-PESA menu and is run by KCB Bank. On the published figures it is the cheapest one-month loan here, and it has the highest ceiling of the menu loans. You need a Kenyan ID registered on M-PESA and six months of M-PESA use before you get a limit. No app is needed, and you can repay early from M-PESA. On KES 5,000 for 30 days you pay KSh 5,446.50 in total (KSh 446.50 in fees and excise). Limits: KSh 100 to 1,000,000. Term: one month. Borrow on *334#. CRB: Yes. As a CBK-regulated bank, KCB must share repayment data with licensed credit reference bureaus.
Drawback: Safaricom and KCB publish different rates, and neither says whether excise is added on top. Check the total on the confirmation screen before you accept.
Facts: CBK, commercial bank (KCB Bank Kenya Ltd, offered with Safaricom) · KES 5,000 for 30 days: KSh 5,446.50 · Limit: KSh 100 to 1,000,000 · USSD: *334# · Score 91 of 100
Best suited for: larger loans without an app. Full KCB M-PESA review
3. Timiza, best for a choice of loan terms
Timiza is Absa Bank's wallet and loan service, on USSD or the Timiza app, and open to people who do not bank with Absa. Absa publishes a full tariff guide, so the price is checkable before you borrow. Besides the one-month loan there is a term loan for people who need longer, priced with a monthly fee. The money goes to your Timiza wallet first. On KES 5,000 for 30 days you pay KSh 5,437.50 (you receive KSh 4,912.50) in total (KSh 525 in fees and excise). Limits: Not published. Term: 30-day loan, or a Timiza term loan (8% access fee plus 5% a month). Borrow on *848#. CRB: Yes. As a CBK-regulated bank, Absa must share repayment data with licensed credit reference bureaus.
Drawback: The money lands in the Timiza wallet, not M-PESA, and moving it to M-PESA carries a transfer charge on top of the loan cost.
Facts: CBK, commercial bank (Absa Bank Kenya PLC) · KES 5,000 for 30 days: KSh 5,437.50 (you receive KSh 4,912.50) · Limit: Not published · USSD: *848# · Score 85 of 100
Best suited for: a choice of loan terms. Full Timiza review
4. Fuliza, best for shortfalls repaid the same day
Fuliza is an overdraft on M-PESA, not a loan you apply for. When a payment needs more than your balance, Fuliza covers the gap up to your limit, and the next money into M-PESA clears it. Used for a few hours it is cheap. Used for a month it is the most expensive bank-backed option here, because the daily fee keeps running. On KES 5,000 for 30 days you pay KSh 5,950 in total (KSh 950 in fees and excise). Limits: Up to KSh 70,000. Term: no fixed term. A daily fee runs until you repay. Borrow on *334#. CRB: Not stated on Safaricom's Fuliza page.
Drawback: The daily fee does not stop until you repay, so a balance left for weeks costs far more than a one-month loan.
Facts: CBK, commercial bank (Safaricom PLC with partner banks) · KES 5,000 for 30 days: KSh 5,950 · Limit: Up to KSh 70,000 · USSD: *334# · Score 74.8 of 100
Best suited for: shortfalls repaid the same day. Full Fuliza review
5. Branch, best for loans longer than a month
Branch is an app lender that became a microfinance bank. It publishes its whole price range, including APR, on its Kenya site, which most app lenders do not. Terms run from one week to twelve, so it suits a loan you cannot clear inside a month. Where you land in the range depends on your repayment history. On KES 5,000 for 30 days you pay KSh 5,085 to 5,880 in total (KSh 85 to 880 in fees and excise). Limits: KSh 500 to 1,000,000. Term: 1 to 12 weeks. Borrow in the app. CRB: Yes. As a CBK-regulated microfinance bank, Branch must share repayment data with licensed credit reference bureaus.
Drawback: New borrowers can start near the top of the range, and you need a smartphone and the Branch app. Money arrives in the Branch wallet first.
Facts: CBK, microfinance bank (Branch Microfinance Bank Kenya Ltd) · KES 5,000 for 30 days: KSh 5,085 to 5,880 · Limit: KSh 500 to 1,000,000 · USSD: App only · Score 59.3 of 100
Best suited for: loans longer than a month. Full Branch review
6. Zenka, best for early repayment, flexible term
Zenka is a licensed digital credit provider with an app on Android and iPhone. It publishes its fee range, its APR range and a worked example, and charges no processing fee. You can repay any time before the due date. The range is wide because pricing is set per borrower. On KES 5,000 for 30 days you pay KSh 5,122.50 to 6,950 in total (KSh 122.50 to 1,950 in fees and excise). Limits: KSh 500 to 200,000. Term: up to 61 days, repay any time. Borrow in the app. CRB: Yes. Zenka's loan terms cover reporting to credit reference bureaus, as the DCP rules require.
Drawback: The top of the fee range is very high, and Zenka does not say what a one-month loan costs as opposed to a longer one.
Facts: CBK, digital credit provider, licensed 27 Mar 2023 (Zenka Digital Ltd) · KES 5,000 for 30 days: KSh 5,122.50 to 6,950 · Limit: KSh 500 to 200,000 · USSD: App only · Score 49.2 of 100
Best suited for: early repayment, flexible term. Full Zenka review
7. Tala, best for fast-growing small limits
Tala is one of the longest-running licensed app lenders in Kenya. It says most customers see their limit double within two months, and on-time repayments are reported to the credit bureaus, which builds a credit record. Money goes straight to M-PESA. The catch is the price: Tala only publishes the lowest rate. On KES 5,000 for 30 days you pay From KSh 5,450 (maximum not published) in total (from KSh 450 in fees and excise). Limits: Up to KSh 50,000. Term: you choose when to repay, within the terms the app offers. Borrow in the app. CRB: Yes. Tala says "CRB reporting applies to all Tala loans", including on-time repayment.
Drawback: Tala publishes only a starting rate, so you cannot see the real cost until the app shows your offer.
Facts: CBK, digital credit provider, licensed 30 Jan 2023 (Inventure Mobile Ltd) · KES 5,000 for 30 days: From KSh 5,450 (maximum not published) · Limit: Up to KSh 50,000 · USSD: App only (*846# to repay) · Score 32 of 100
Best suited for: fast-growing small limits. Full Tala review
Comparison table
Sorted by rank. All 7 lenders, KES 5,000 for 30 days, data checked 15 October 2026.
| Rank | Lender | Best for | Repay on KES 5,000 / 30 days | Limit | USSD | Reports to CRB | Licensed by | Checked |
|---|---|---|---|---|---|---|---|---|
| 1 | M-Shwari | Lowest all-in cost on USSD | KSh 5,375 (you receive KSh 4,925) | KSh 100 to 50,000 | *334# | Yes | CBK, commercial bank | 15 October 2026 |
| 2 | KCB M-PESA | Larger loans without an app | KSh 5,446.50 | KSh 100 to 1,000,000 | *334# | Yes | CBK, commercial bank | 15 October 2026 |
| 3 | Timiza | A choice of loan terms | KSh 5,437.50 (you receive KSh 4,912.50) | Not published | *848# | Yes | CBK, commercial bank | 15 October 2026 |
| 4 | Fuliza | Shortfalls repaid the same day | KSh 5,950 | Up to KSh 70,000 | *334# | Not stated | CBK, commercial bank | 15 October 2026 |
| 5 | Branch | Loans longer than a month | KSh 5,085 to 5,880 | KSh 500 to 1,000,000 | App only | Yes | CBK, microfinance bank | 15 October 2026 |
| 6 | Zenka | Early repayment, flexible term | KSh 5,122.50 to 6,950 | KSh 500 to 200,000 | App only | Yes | CBK, digital credit provider | 15 October 2026 |
| 7 | Tala | Fast-growing small limits | From KSh 5,450 (maximum not published) | Up to KSh 50,000 | App only (*846# to repay) | Yes | CBK, digital credit provider | 15 October 2026 |
Which one fits you
| If you need | Use | Cost of KES 5,000 for 30 days |
|---|---|---|
| Lowest all-in cost on USSD | M-Shwari | KSh 5,375 (you receive KSh 4,925) |
| Larger loans without an app | KCB M-PESA | KSh 5,446.50 |
| A choice of loan terms | Timiza | KSh 5,437.50 (you receive KSh 4,912.50) |
| Shortfalls repaid the same day | Fuliza | KSh 5,950 |
| Loans longer than a month | Branch | KSh 5,085 to 5,880 |
| Early repayment, flexible term | Zenka | KSh 5,122.50 to 6,950 |
| Fast-growing small limits | Tala | From KSh 5,450 (maximum not published) |
Outside the ranking: Hustler Fund
Hustler Fund is run by the Government of Kenya's Financial Inclusion Fund. It is not a CBK-licensed lender, so it cannot enter a ranking gated on a CBK licence, but for a short loan it is often the cheapest option. Its personal loan is priced at 8% a year for the 14-day personal loan, rising to 9.5% a year if repaid more than 14 days late. On KES 5,000 repaid within 14 days the interest is about KSh 15. Borrow on *254#. We could not confirm on the fund's own pages whether defaulters are listed with credit reference bureaus. See our Hustler Fund hub.
Apps to avoid
- OKash. Not on the CBK Directory of Digital Credit Providers updated 29 September 2026. Check any lender on our CBK licence checker before you borrow.
- iPesa. Not on the CBK Directory of Digital Credit Providers updated 29 September 2026. Check any lender on our CBK licence checker before you borrow.
- Any app not on the CBK register. Match the registered company name, not the app name, against the CBK Directory of Digital Credit Providers.
- Apps that want your contacts. Messaging your contacts about your debt breaks the Data Protection Act. Report it to the Office of the Data Protection Commissioner and the lender to CBK. See loan app harassment: what to do.
- Loans that roll into new loans. Rolling one loan into the next is how a small loan becomes a large debt. See loan app scams in Kenya.
Better than borrowing
- Join a SACCO. Loans are priced as yearly interest on what you still owe, so they are normally far cheaper than any loan here. See our best SACCOs guide.
- Ask for more time. Landlords, schools and service providers often accept part payment now and the rest later. That costs nothing.
- Use a chama. Rotating savings and group lending are often cheaper and more flexible. See group lending in Kenya.
- Finance the asset, not cash. For a motorbike, phone or solar kit, compare asset finance first.
Full method
Weights: cost 40, price transparency 15, limits and terms 15, conduct and privacy 15, access 15. The score is calculated in code from the inputs below. Ties break on cost. Nobody moves a lender by hand.
- Cost (40). Total fees and excise on KES 5,000 for 30 days, from the lender's or operator's published price. Where a range is published we score the top of it. Where no maximum is published the cost score is 0. Points are the cheapest scored cost divided by this lender's, times 40.
- Price transparency (15). 15 for a full published price, 10 for a full price where two official pages disagree or excise is not stated, 10 for a range with an APR range or worked example, 8 for a range alone, 4 for a starting rate only, 0 for nothing.
- Limits and terms (15). Points for the published ceiling (8 at KSh 1,000,000 or more, 6 at KSh 200,000 or more, 5 at KSh 100,000 or more, 4 at KSh 50,000 or more, 2 if lower or unpublished), plus 7 for a choice of term or repay-any-time, 3 for a single one-month term.
- Conduct and privacy (15). 10 if you can borrow without installing a lending app (5 if you cannot), plus 5 if we found no ODPC or CBK enforcement action against the lender in our search.
- Access (15). 8 for borrowing on USSD without a smartphone, plus 7 if the money lands in M-PESA (4 if it lands in the lender's own wallet).
| Lender | Cost | Transparency | Limits and terms | Conduct | Access | Total |
|---|---|---|---|---|---|---|
| M-Shwari | 39.7 | 15 | 7 | 15 | 15 | 91.7 |
| KCB M-PESA | 40 | 10 | 11 | 15 | 15 | 91 |
| Timiza | 34 | 15 | 9 | 15 | 12 | 85 |
| Fuliza | 18.8 | 15 | 11 | 15 | 15 | 74.8 |
| Branch | 20.3 | 10 | 15 | 10 | 4 | 59.3 |
| Zenka | 9.2 | 10 | 13 | 10 | 7 | 49.2 |
| Tala | 0 | 4 | 11 | 10 | 7 | 32 |
Where every figure comes from
- M-Shwari. Safaricom: "charged at 9% Being Loan Fees of 7.5% and 1.5% Excise Duty". 9% of KSh 5,000 is KSh 450. The excise is deducted before the money reaches M-PESA, so you receive KSh 4,925 and repay KSh 5,375. Safaricom gives two ranges on the same page: limits from KSh 100 to KSh 50,000, and loans from KSh 1,000 up to KSh 1 million. We use the first because it is the one under "What should I expect when I borrow". Conduct: No ODPC or CBK enforcement action against M-Shwari found in our search on 15 October 2026. Source: Safaricom, M-Shwari, read 15 October 2026.
- KCB M-PESA. Safaricom: loans "charged a facility fee of 8.93%" (page updated 22 July 2025). 8.93% of KSh 5,000 is KSh 446.50. KCB's own product page says "KCB M-PESA loan rate at 8.80%". We score the higher figure. Neither page says whether excise is on top of the fee. Safaricom says KSh 100 to KSh 1 million. We use the KSh 100 minimum; an older line in KCB's FAQ says KSh 1,000. Conduct: No ODPC or CBK enforcement action against KCB M-PESA found in our search on 15 October 2026. Source: Safaricom, KCB M-PESA, read 15 October 2026.
- Timiza. Absa tariff guide (January 2026), 30-day loan: access fee 8.75% of the amount requested, plus excise of 20% of the access fee, and the tariff says the excise is collected upfront. KSh 437.50 + KSh 87.50 = KSh 525, so you receive KSh 4,912.50 and repay KSh 5,437.50. A late loan adds a penalty of 10% of the outstanding principal. Absa does not publish a loan limit range on its Timiza pages. Your limit shows when you log in. Conduct: No ODPC or CBK enforcement action against Timiza found in our search on 15 October 2026. Source: Absa, Timiza tariff and guides, read 15 October 2026.
- Fuliza. Safaricom tariff: a one-off 1% access fee (KSh 50 on KSh 5,000), then KSh 30 a day including excise for an outstanding balance of KSh 2,501 to 70,000, charged from the next midnight. Thirty days: KSh 50 + 30 x KSh 30 = KSh 950. Repaid before midnight on the day, the cost is the KSh 50 access fee alone. Safaricom assigns each customer a limit. Its published tariff covers balances up to KSh 70,000. Conduct: No ODPC or CBK enforcement action against Fuliza found in our search on 15 October 2026. Source: Safaricom, Fuliza tariff, read 15 October 2026.
- Branch. Branch Kenya: "Interest ranges from 17% to 35% with an equivalent monthly interest of 1.7% to 17.6% and APR of 22% to 229%". One month of interest on KSh 5,000 at the monthly-equivalent range: KSh 85 to KSh 880. Scored on KSh 880. Conduct: Named in 2022 among 40 lenders the ODPC said it was auditing. We found no penalty from that audit and no ODPC or CBK action in our search on 15 October 2026. Source: Branch Kenya, home page pricing note, read 15 October 2026.
- Zenka. Zenka: "an interest fee of 2.45-39% of the principal amount", processing fee KSh 0, loans up to 61 days, effective APR 30% to 4,432% (risk-based). On KSh 5,000 that is KSh 122.50 to KSh 1,950 per loan. Zenka does not publish the fee for a 30-day loan separately. Scored on KSh 1,950. Conduct: No ODPC or CBK enforcement action against Zenka found in our search on 15 October 2026. Source: Zenka, pricing and terms summary, read 15 October 2026.
- Tala. Tala: "Low interest starting at 0.3% per day". Thirty days at 0.3% on KSh 5,000 is KSh 450, the lowest possible. Tala publishes no maximum, so the cost score is 0. Conduct: Registered with the ODPC as a data controller. Named in 2022 among 40 lenders the ODPC said it was auditing. We found no penalty and no ODPC or CBK action in our search on 15 October 2026. Source: Tala Kenya, home page, read 15 October 2026.
Excluded: lenders not on the CBK register on the day we checked (OKash, iPesa), asset finance such as logbook and phone loans (compared in our loans hub), and Hustler Fund, which is not CBK-licensed. Every in-app price can differ from the published one, so read the total on the confirmation screen before you accept.
Most of these apps are repaid by M-PESA paybill, and sending or withdrawing a loan can carry an M-PESA fee. Check the charge for your amount with the M-PESA fees calculator.
Frequently asked questions
What is the cheapest loan app in Kenya in 2026?
On published prices for KES 5,000 over 30 days, KCB M-PESA is cheapest at KSh 5,446.50 all-in, with M-Shwari close behind at KSh 5,375 (you receive KSh 4,925). Hustler Fund can be cheaper for a 14-day loan, but it is a government fund, not a CBK-licensed lender, so it sits outside our ranking.
Which loan apps are licensed by the Central Bank of Kenya?
All 7 lenders on this page are: the banks and microfinance banks under CBK supervision, and Tala and Zenka on the CBK Directory of Digital Credit Providers dated 29 September 2026. OKash and iPesa were not on that directory, so we do not rank them.
Do loan apps report me to CRB?
Every lender we rank that states a position reports repayment data to licensed credit reference bureaus. Safaricom's Fuliza page does not say either way. We could not confirm on the fund's own pages whether defaulters are listed with credit reference bureaus.
Which loan app has the highest limit?
KCB M-PESA (KSh 100 to 1,000,000, per Safaricom) and Branch (KSh 500 to 1,000,000) publish the highest ceilings. Your own limit depends on your history and is usually far lower to start.
How much does Fuliza cost for a month?
On KES 5,000 left unpaid for 30 days, Fuliza costs KSh 950: a one-off 1% access fee plus a daily fee from the next midnight. Repaid the same day, it costs KSh 50.
What happens if I repay late?
Late fees vary. Absa charges a Timiza penalty of 10% of the outstanding principal, Fuliza's daily fee keeps running, and every lender that reports to CRB can list you as a defaulter. Contact the lender before the due date if you cannot pay.
Is it better to borrow from a SACCO?
Usually, if you are already a member with savings. SACCO loans are priced as yearly interest on a reducing balance rather than a fee per month, so the cost per month is normally lower than the loans on this page. Joining takes time, so it does not solve an emergency today.
Partner links
Compare lenders
CBK-licensed app lenders
Partner links, clearly labelled. The ranking above is independent of them.
Tala
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Mobile loans up to KES 50,000 in minutes. CBK-licensed.
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App loans from KSh 500 to KSh 200,000. CBK-licensed.
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