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Loans without security in Kenya today

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loans without security in kenya today

P2P lending, a.k.a. peer-to-peer lending, a.k.a. social lending, is a new way to borrow the money you need!

  • Peer-to-peer lending, or social lending, is a new way to borrow the money you need. It’s similar to a traditional bank loan with one main difference: instead of dealing with a lender or bank, you deal directly with another person that wants to invest in your loan for an agreed-upon interest rate.
  • P2P lending is offered by companies like Lending Club and Prosper. You can use both sites if you’d like, but they’ll only give you access to their own loans—so depending on what kind of deal they offer, it might make sense just go where you feel more comfortable.
  • There are several benefits of peer-to-peer (or social) lending:
  • you get lower rates than a bank would offer; -you have more control over who gets approved for loans; -you don’t have to worry about anything going wrong with the transaction since everything takes place online

Why Choose P2P Loans?

There are a number of reasons why you might want to consider peer-to-peer loans. Here are the top 6:

  • Lower interest rates. P2P lending sites have lower interest rates than traditional banks and credit unions, making them more affordable. They also tend to offer longer repayment terms, which can help get you out of debt faster and save you money in the long run.
  • Less strict requirements. The qualification process is much easier if you decide to go through a peer-to-peer lender rather than a bank or other financial institution because there’s no need for collateral or an extensive credit history like with traditional loans from financial institutions.

What is P2P Lending?

P2P lending is also referred to as peer-to-peer lending, social lending and crowdlending. It’s a new way of lending and borrowing money that is done outside of the traditional banking system. With P2P lending, you can get a loan from another person or group of people with similar interests.

Here are some examples: If you need money for college tuition and there’s someone else in your university who needs money for school books, why not get a loan together? Or if you have extra cash in your retirement account but no immediate plans for it and know someone who could use some extra cash—why not split an investment?

How Does P2P Lending Work?

P2P lending is a rapidly growing segment of the fintech industry, but it’s not always clear what exactly it is. How does P2P lending work? What are the advantages and disadvantages of using this type of loan?

In this guide, we’ll break down all you need to know about peer-to-peer (or “p2p”) loans in Kenya. First up: how is p2p lending different from traditional finance?

Here’s how you can get a Kshs 100,000 loan on Tala without having to provide any collateral or security!

  • Download the Tala app from Google Play or App Store, and sign up to receive a free Kshs 100,000 loan!
  • Fill in your registration details and submit your loan application. You will receive an immediate loan decision from Tala’s AI Engine that gives you instant access to the cash you need today.

Step 1: Download the Tala app for free!

The first step is to download the Tala app, which is available for both Android and iOS. The app is free to download and use, so you won’t have to pay anything unless you want more features or higher amounts of credit.

Step 2: Fill in your registration details and submit your loan application. The whole process only takes 10 minutes!

Fill in your registration details and submit your loan application. The whole process only takes 10 minutes!

  • Tala’s AI Engine will scan through your information and determine whether or not you’re eligible. If there are no issues, you’ll be approved within 60 seconds!
  • You will then receive an email confirmation of the amount that has been approved for you – as well as a map showing where to collect it from. The funds are delivered straight into your bank account within 24 hours.

Step 3: You’ll receive an immediate loan decision from Tala’s AI Engine that gives you instant access to the cash you need today.

Step 3: You’ll receive an immediate loan decision from Tala’s AI Engine that gives you instant access to the cash you need today.

  • No collateral needed
  • No guarantor required
  • Timely payment of your loan

Step 4: Once approved, you can expect your funds within 24 hours of approval!

Once approved, you can expect your funds within 24 hours of approval!

You can borrow from Kshs 1,000 to Kshs 50,000 with repayment periods of 3-6 months. At this point in time, there is no application fee required for this loan product and we offer free loans to those who pay back their loans within 30 days.

Get loans in kenya without security

  • You can get a loan of up to Ksh. 250,000.
  • The repayment period is flexible and ranges from 6 months to 2 years.
  • Interest rates on the loans range from 10% to 25%, depending on your credit history.
  • Late penalty charges are 1% of the outstanding balance per month and interest will be charged at 20% above the base rate for overdue payments.
  • There are no processing fees or hidden costs involved in applying for this loan online as all our services are free of charge!

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