Tala loan app is a California-based finance application in Kenyan market that provides credit through your mobile phone. All with low charges and an easy repayment schedule. Tala disburses loans via M-pesa of up to Kshs.50, 000. It was formerly known as Mkopo Rahisi before it was upgraded and rebranded to Tala. With the latest version you can see new features such as checking your credit limit and also seeing customers’ success stories. it is one of best mobile loan apps in kenya currently
Once you download Tala app you are asked to scan your M-pesa SMS and other information for verification of your identity and creditworthiness. This ensures that you are given a fast loan. other rival lending companies include branch loan app
TALA LOAN APP REPAYMENT
Tala loans do not require any security but the loan increment eligibility depends on your repayment behavior of previous loans.
Tala disburses loans of up to Kshs.50, 000 and charges a one-off processing fee of between 5 to 15 per cent depending on your profile and the size of the loan that must be repaid up to in six months
HOW DO I REPAY TALA LOAN ?
Here is a step by step guide on how to pay Tala loan using M-Pesa. You can also use the same process to pay a Tala loan for a family member or a loved one.
Go to the M-Pesa menu on your phone Click on Lipa na M-Pesa then select paybill
Type in the official Tala paybill number-851900
Then, enter the phone number you used to register with on Tala as the account number Complete the process by keying in the loan amount you want to repay then input your PIN.
Confirm both the amount and the recipient Shortly afterward, you will receive a text from Tala Mobile Kenya confirming your Tala loan repayment
TALA LOAN APP INTEREST / fees
- There are two options for repayment schedule: 1st option is a 30-day loan that has a 15% service fee and interest rates can go as low as 7% for some customers.
- The 2nd option is a 21-day loan that has a service fee from 11% but can go down to as low as 5%.
- If you want, you can repay the loan at once or submit partial payments at any time before the loan is due.
WHAT IF I DON’T REPAY MY TALA LOAN
If you do not repay within 7 days after your due date, we charge a fee of 8% on your remaining balance and you get 14 extra days to repay.
There are no penalty fees for paying early. In fact, early and on time payments will help you qualify for larger loans in the future!
It is important to make your payments on time to be able to continue benefiting from Tala’s fast, low interest loans. Missing loan payments may result in fees, lower loan limits, or the inability to get a subsequent loan from us as well as other lenders.
You may be contacted by collections agents if you do not repay your loan on time. In the event of a long period of non-payment, you may be blacklisted from Tala and also reported to the relevant credit reference bureaus.
HOW CAN I INCREASE MY LOAN LIMIT
Early or on-time payments are the best way to raise your loan limit. But because we consider many factors when determining your loan limit, we cannot guarantee that your loan limit will increase, or by how much.
Why was my loan limit lower than on my previous loan?
We understand it is frustrating to not get the amount you anticipated.
Our system considers several factors when giving loans. If you make late payments, that can reduce the loan limit you qualify for.
We encourage you to always keep your account in good standing as it will help you qualify for larger loans in the future.
What if my phone is already registered to another account?
If you are using a phone that is already registered in our system by a different account, we will need to confirm that the former account holder is no longer required in our systems before you can use Tala with the phone. Kindly ask the person you got it from to send us your full name and phone number using their registered phone number on SMS 21991.
TALA LOAN APP CONTACTS
When experiencing problems while using the app, use the following details: Email: email@example.com Facebook: @TalaKenya
phone number / sms – 21991.
WHO OWNS TALA LOAN APP COMPANY
who owns tala loan app ? Tala is a California-based finance application in Kenyan market that provides credit through your mobile phone. All with low charges and an easy repayment schedule. Tala disburses loans via M-pesa of up to Kshs.50, 000. It was formerly known as Mkopo Rahisi before it was upgraded and rebranded to Tala.