The Zenka Loan mobile app is free and can be used on Android devices running version 4.4 and later. Zenka is a mobile loan platform in Kenya. It gives users quick, round-the-clock access to financing and ties in with the M-Pesa payment platform for transferring agreed loan amounts.
The whole borrowing process can be completed on your mobile device. From your initial application to receiving your money, it's easy and secure for users. If you prefer to use a mobile loan app that has been established longer, Tala is a great option, having launched five years ago.
Breaking the mold
The increasing number of mobile loan apps makes it easier than ever to access the financing you need without ever setting foot inside a bank. It's particularly liberating for people who live in remote areas with limited transport.
You can apply for your loan through the app, receive the lender's decision and funds from wherever you are provided you have an Internet connection.
The Zenka Loan app bypasses the traditionally laborious bureaucracy of banks. As well as avoiding queues in the branch, Zenka's mobile-based service can give you a quick decision on your loan application.
Building your credit history
Despite being unencumbered with the long-winded admin that's so common among traditional banks, borrowing through the Zenka Loan app still counts when it comes to building a positive credit history. As always, this requires that you repay the loan on time, making every payment that’s required.
Receiving your money
Using the Zenka Loan app, you can borrow from KSh (Kenyan shillings) 500 to KSh 30,000. The agreed-upon money will be transferred to your M-Pesa account.
With its simple application process and fast decisions, the Zenka Loan app is an exciting addition to the mobile loan market. Add to that the benefits of building your credit history as you would with a traditional bank, Zenka is one of the most flexible personal loan platforms on the market.
Given all this, it's no wonder that Zenka is one of the most popular mobile lenders.