In the rapidly transforming world of digital finance, the Tala Loan App has emerged as a trailblazer in Kenya. As of 2023, the country is home to 63.94 million active mobile connections, and Tala is capitalizing on this digital boom to provide swift and hassle-free loans right at your fingertips.
If you’re among Kenya’s 17.86 million internet users, you can streamline your financial needs with Tala. This mobile loans app is not just another lending app; it’s a tool for economic empowerment and freedom.
Imagine the convenience of receiving instant loans directly to your mobile device without the need for physical bank visits or lengthy approval processes. The Tala Loan App makes this possible, catering to both small-scale and more significant financial needs quickly and efficiently.
With the country’s median mobile internet connection speed of 20.41 Mbps, the smooth and user-friendly Tala Loan App interface is just a quick download away. The platform’s vast customer base and positive reviews testify to its reliability and customer-centric approach.
This article guides you through downloading and using the Tala Loan App, helping you unlock your financial potential. Whether you’re a first-time user or an existing customer looking to maximize your experience, this comprehensive guide will provide all the necessary information.
How does Tala Mobile App work?
Once downloaded from Google Play Store and installed on your phone. Tala Loan App scans your SMS folder for Mpesa transaction history and voice call pattern history to build a credit score.
They also use data like your income level, Mpesa usage, and loan repayment history from other providers.
Tala loans do not require security, and the average loan is Ksh10,000; first-time applicants are given a minimum of Ksh 500 and must build their creditworthiness over time. The loan increment eligibility depends on your repayment behaviour of previous loans.
Tala app download Kenya
To download Tala Apk, All you need is a registered Mpesa line and an Android phone running OS 2.3.3 or higher.
How to use Tala (Tala Registration)
- You don’t need the APK. Head to Google Play Store on your smartphone to download and install the Tala app.
- Link the app to your active Facebook account to register as a customer.
- Provide further information to Tala, such as your phone number, and by answering the few personal questions correctly.
- Tala loan qualification is dependent on the feedback you give on these questions.
- Relax, play or do something else while you wait for Tala to do their magic.
- Check back after a while to confirm whether you have qualified and view the loan amount you have qualified for.
Tala Paybill Number
Tala loan is only repaid through Mpesa Paybill number 851900 and your registered Tala phone number as the account number.
How to pay tala loan with Mpesa
Here is the step-by-step guide on how to pay a Tala loan with M-pesa
- Access the Mpesa menu on your phone
- Select the Lipa na Mpesa menu option followed by Paybill
- Enter Tala Paybill number 851900.
- Enter your phone number as the account number.
- Follow the Mpesa system prompts to complete your transaction (Mpesa charges apply)
- You should receive an SMS from Inventure Mobile Kenya confirming your loan repayment.
Apart from the method above, you can use another person’s number to repay your loan if you use your registered Tala phone number as the account number.
Tala Loan App Advantages
- Once you are qualified for a loan, the disbursement is fast, making it reliable for emergency loans.
- Extended repayment period even if your loan repayment date is overdue.
- Loan defaulters are given a grace period of 60 days before being blacklisted.
- Tala loan app provides scheduled loan notification of repayments to their customers.
Tala Loan App Disadvantages
- High loan Interest rates compared to other mobile loan app operators.
- With Varying interest rates from one customer to another and credit limit, it is tough to determine your loan interest rate.
Remember that all non-performing loans of more than 90 days overdue are listed as defaulters, as provided in section 18 of the Credit Reference Bureau Regulations ACT 2013.
Tala Contact Details
Tala company provides several communication channels for feedback; please click to find out how to contact Tala.
In the comment section below, let us hear about your Tala loan app experience. Why don’t you share this post if you like it? 🙂
You can also check out the following mobile loan apps in Kenya:
- Branch Loan App
- Zenka Loan App
- Timiza Loans from Absa
Borrow responsibly.
