*Updated List Of Loan Apps That Do Not Check CRB Status In Kenya*

Even individuals who are financially secure have occasionally battled to achieve financial freedom due to life’s myriad unforeseen events.

In Kenya, we have loan apps without CRB, and if you use one, you will inevitably accumulate debt. But practically every defaulter eventually ends up at the CRB.

CRB is an acronym for Credit Reference Bureau. A credit bureau keeps track of a person’s credit profile so that financial organizations can examine it when the person applies for a loan.

A borrower’s eligibility for a loan advance may be decided by their credit history. Currently, there are three CRBs operating in Kenya. Creditinfo, Metropol, and Transunion .

Top 5 Loan apps without CRB check

For the purpose of this article, here are the 5 (Five) loan apps that never check CRB status, they are:

1. Tala

Tala Mobile is the developer of the Tala loan app. They typically approve loans based on the phone data of customers, such as the financial transactions from M-PESA as well as the answers provided while applying. The interest rate on Tala loans varies between 5% to 15% depending on the repayment period of 21 or 30 days. The loans range from Ksh. 500 to Ksh. 30,000. Tala loans can be accessed by downloading the Tala loan app from the Google Play store.

2. Opesa

TK Limited, however, provides the Opesa loan app. Opesa decides whether a loan needs to be approved based on a borrower’s phone data – e.g., handset details, MPESA/Mshwari finance transactions, and why they want the loan. The interest rates on Opesa loans vary from 14% to 16%, with repayments duration of 91 or 92 days. Opesa is another online loan app that deducts interest in advance.

3. Okash

OneSpot Technology Investment Ltd. provides an app called Okash for loan applications. Borrowers must meet the eligibility criteria which are outlined in the Okash loan app. OKash loans are available to anyone 21-55 years of age, with a fixed income and a cellphone number. The interest rate on Okash loans ranges from 14% – 16% at 91 to 92 days of repayment. The loan limits range from Ksh. 2,500 to Ksh. 50,000.

Due to their interest rates being deducted prior to disbursement, borrowers usually end up with less than they had originally applied for.

4. M-Fanisi

Maisha Microfinance Bank offers the M-Fanisi loan service. Applicants must be 18 years of age or older and have an active M-PESA account transaction record. M-Fanisi loans range from Ksh. 200 to Ksh. 25,000 at a 10% interest rate repayable within 30 days. M-Fanisi loan USSD code is *281# for Safaricom subscribers or *222# for Airtel subscribers.

5. Mokash

Mocash offers a loan product called Mokash. They offer loans of between Ksh. 1,000 to Ksh. 30,000 for a duration of 8 days. The Mokash loan app can be downloaded from the Google Play store.