How to Apply for a Tala Loan in Kenya to Boost Your Business

Learn how to apply for a Tala Loan in Kenya, including the eligibility criteria, application process, required documents, and tips for a successful loan application.

Tala offers loans straight to your MPesa. The application process is easy and the evaluation process for the loan takes only a few minutes. The Loan decisions are based on different information you provide such as your source of income, repayment of other loans, M-Pesa usage, etc. Tala will use the information you provide them during account registration and when filling out their survey. Then their software builds your personal credit profile.

If you need a loan to start a business, boost your existing business, or attend to an emergency, you can try Tala.

What Is Tala Loan App?

Tala is a digital lending company that offers instant mobile loans to customers up to KES 50,000, with interest rates starting as low as 0.3% daily. Tala is licensed to operate in Kenya and regulated by the Central Bank of Kenya (CBK).

In this article, I will show how to download the Tala loan app, sign up for an account, and the procedure on how to apply for a Tala loan in Kenya in a few simple steps.

How to Register with Tala Loan App in Kenya

First, ensure that you have an active M-Pesa line and a smartphone. The Android phone should be running on version 4.1.0 and above. Follow these simple steps to complete the registration process and access the required financial assistance.

1. Open the Google Play store on your phone and search for the Tala loan app.
2. Tap on the Install button. The app will be downloaded and installed.
3. Once installed, tap on the “Open” button to launch the app.
4. Tap on Get Started to register. Enter your phone number.
5. Verify your phone number with a 4-digit verification code sent to your phone.
6. Enter your correct details as they appear in your national ID and other details such as your email address.
7. Enter and confirm the 4-digit PIN you will use to log in to your Tala account.
8. Accept terms and conditions by clicking “Accept,” and grant the Tala app permission to access your calls, SMS, Contacts, and Location.

How to Apply for a Tala Loan in Kenya

Here are the steps on how to apply for a Tala Loan in Kenya;

1. Open the Tala app and log in using your 4-digit PIN.
2. Start the loan application by tapping on the “Apply Now” button. Answer a few questions, such as the reason for the loan.
3. Review your answers, then click Continue.
4. If your application is successful and you get your first loan offer, choose your loan amount and proceed to select your repayment date. Note that the shorter the repayment period, the less the interest you will pay.
5. Accept the loan terms and conditions and tap the “Confirm” button to proceed.
6. The approved loan amount will be sent straight to your MPesa.
7. You will receive a confirmation message from Tala and MPesa.

Related: How to Pay Tala Loan via MPesa

What Are the Requirements to Get a Tala Loan?

1. Android smartphone running on Android version 4.1.0 and above. You cannot access Tala using a feature phone (Kabambe type).
2. An active M-PESA registered line.
3. You must be in good standing – Have a good credit history
4. A valid National Identification (ID)
5. You must be 18 years old and above.

How Long Does It Take for Tala to Approve a Loan?

Most loan approvals take place within 5 minutes. However, in some cases, loan approvals may take longer, and as such, you can reach out to the Tala customer support team for assistance.

FAQs