How to apply and pay Tala loans in Kenya

Do you want to know how to apply and pay Tala loans in Kenya? This is the article for you. I will show you how to apply and repay the Tala  loans as well as the requirements to qualify for the same. But before we dive in, a little background information about Tala.

Tala is one of the leading finance app here in Kenya. This is attributed to its revolutionary features that have captured attention of Kenyans. These features include:

• Easy loan application process
• Quick loan acceptance
• No security required
• Easy and quick repayment method
• Flexible repayment period of minimum of 21 days among others

If you are seeking to pay school fees, medical bills or even shut up the impatient landlord, Tala loan app is for you.

Who operates Tala loan app in Kenya?

Tala loan app was formerly known as Mkopo Rahisi. This incredible mobile loan service is operated by a California-based finance company. And since its entry into the Kenyan finance industry, the app has seen really great usage.

The initial loan limit of Tala is standing at KSHS. 500. This limit increases based on how timely you repay the loans.

Paying promptly Tala loans allows you to borrow up to 50,000 shillings. This is more than enough to start and run a business, pay schools fees for your kids and even settle that medical bill.

Requirements for getting Tala loans

Before we dive into the process of how to apply Tala loans in Kenya, here are some of the minimum requirements that you must meet to get the loan.

• You need a smartphone
• Download the Tala app on your phone.
• Fill in the details on the app
• Working Safaricom line with access to MPESA services

How to download the Tala loan app in Kenya

Here are the steps to follow to download the Tala app into your phone:

• Ensure you have access to the internet (have data bundles)
• Open Google Play Store app in your phone
• On the search bar, type, ‘Tala Loan App.’ And you will see the app as the first
• Click on the icon and click on INSTALL
• The app will now download.
• After some minutes (less than 5 minutes depending on your connection) the app will be installed on your phone.

As you can see it is easier to download Tala loan app. The next step is to apply the loan.

How to apply Tala loan in Kenya

Forget about long lines and need for collateral security to secure a loan, Tala app has streamlined the application process through. And almost anyone with an ID can secure a loan in under 30 minutes.

Once you’ve installed the app successfully, open the app. Since you are new (haven’t used it before) you are required to create a new customer account.

To do this,

• Click on I’M NEW button and enter your MPESA number
• A code will be sent to the phone number you will provide above, so make sure it is on.
• Once you receive the code, enter it into the box provided. This will help you verify your account and phone number
• Set your PIN. Use something hard to guess by unauthorized users but easy for you to remember. You don’t want your account getting blocked.
• Confirm the secret PIN then submit it.

To finish your registration, open the app and fill in the information required. Remember to be accurate since whether you get accepted or not will majorly depend on it.

If your registration process was a success, you will receive a confirmation notification.

Proceed to the last loan application process. Apply for the loan depending on the amount you qualify for.

You will be asked to choose the repayment period and there are two: between 21 and 30 days. Pick the one you feel comfortable with. So with Tala, like most loan apps, you can pick a repayment period comfortable with you to avoid late payment and penalties.

If your application will go through, you will receive MPESA confirmation of the transaction.

Now that you have received the loan, the most important thing you need to know is that the earlier you pay, the better chances of you getting a bigger loan limit next time.

So, the next question is how to repay the Tala loan.

How to repay the Tala loan instantly through MPESA

To repay the Tala loan:

• Go to MPESA Menu on your phone
• Select Lipan a MPESA
• PayBill number 851900
• Enter your phone number as the account number (number used to register Tala app)
• Enter the amount you want to repay
• MPESA PIN and hit OK

You will receive a confirmation message from Inventure Mobile Kenya confirming that you’ve repaid the loan.

But what if you cannot access your phone at the moment and you want to repay the Tala loan?

You can use your friend’s phone but remember to use your phone number as the account number. This is how to apply and repay Tala loans in Kenya