Tala is a renowned mobile loan app in Kenya, popular for its fast and reliable emergency loans disbursed directly via M-PESA. Originally launched as Mkopo Rahisi in 2014, Tala has since evolved, offering higher loan limits and a user-friendly app interface. This guide provides detailed instructions on how to apply for a loan from Tala, ensuring that even first-time users can navigate the process smoothly.
What You Need to Know About Tala
- Licensed Provider: Tala is a licensed Digital Credit Provider in Kenya, capable of blacklisting defaulters with the CRB.
- International Presence: Tala operates in multiple countries, including the Philippines, Mexico, India, Tanzania, and Kenya.
- Loan Limits: Initially offering loans up to KSh 30,000, Tala now provides loans up to KSh 50,000.
- Interest Rate: Tala offers an interest rate of 0.3% per day, which is competitive in the Kenyan mobile loan market.
Tala App Features
- Availability: The app is available for Android users on Google Play Store. Note that there is no iOS version available.
- Design: The app is lightweight and designed for ease of use, with a straightforward interface.
How to Apply for a Tala Loan
- Download and Install Tala App
- Go to Google Play Store.
- Search for “Tala.”
- Download and install the Tala app.
- Set Up Your Account
- Open the Tala app.
- Register with your Safaricom M-PESA enabled phone number.
- Create a secure PIN.
- Application Process
- Log in to your Tala App.
- Select ‘Apply Now’.
- Answer the loan application questions.
- Submit your application.
- If approved, view your loan offer.
- Choose your loan amount and repayment duration.
- Confirm and receive your loan directly into your M-PESA account.
Repaying Your Tala Loan
- Via Tala App:
- Log in to the Tala app.
- Select ‘Pay’.
- Choose between partial or full payment.
- Follow prompts to complete payment via M-PESA Xpress.
- Using Tala Paybill:
- Go to M-PESA menu.
- Select ‘Lipa na M-PESA’ then ‘Paybill’.
- Enter Tala’s business number 851900.
- Enter your phone number as the account number.
- Input the loan amount.
- Enter your M-PESA PIN and confirm the transaction.
Conclusion
Applying for a loan with Tala is a straightforward process designed for quick and easy access to funds. Ensuring timely repayment of your loans can help increase your credit limit and avoid penalties, including CRB blacklisting. For any issues, Tala provides robust customer support to assist borrowers throughout the loan process.
Remember: Always borrow responsibly and within your means to repay. Ensure you understand all the terms and fees associated with your loan before you apply.
