Tala Loan App is Giving Huge Loans in 2024

The Tala loan app enables users to request quick business loans and repay their loans. Tala has over 8 million customers globally. The loan application process takes 5 minutes and your loan is either approved or declined by the systems.

The Tala loan app is regulated by CBK (Central Bank of Kenya) hence your data is protected from third-party debt collection companies. Interest rates also start at 0.3% per day. The App has a review of 4.5 in the Play Store from a total of close to half a million individuals.

This article explains how you can download the Tala loan app, apply for a loan, and repay it.

Tala Loan App Download

There are two options that you can use to download the Tala loan app. They include:

Method 1: Google Play Store

1. Open a new Google tab
2. Search for the Tala App
3. Download the app
4. Install
5. Set your password

Method 2: Tala’s official website

1. Open a new Google tab
2. Search for the official Tala loan website
3. Navigate to the downloads
4. Download the app
5. Install it

Tala Loan Application Form Online

Tala loan limit will be capped at Ksh 500 – 2,000 for new users. If you want to increase the chances of approval, ensure you give true and consistent information.

1. Launch your downloaded Tala loan app
2. Click “Get Started”
3. Enter your Safaricom phone number
4. Set up your pin
5. Fill out your information such as education and professional background
6. Review you application
7. Hit submit
8. Wait as your loan gets reviewed

How to Pay Tala Loan

To repay your Tala loan, follow the simple steps below:

1. Open your Mpesa App or SIM toolkit
2. Go to Lipa na Mpesa
3. Select Paybill
4. Enter Paybill number 851900
5. Enter your account number (your registered phone number)
6. Enter amount
7. Enter Mpesa pin.

You will receive a confirmation message from Safaricom and Tala about your payment.

Frequently Asked Questions (FAQs)

How to apply for a Tala loan via SMS?

Tala doesn’t have the option of applying for loans via SMS

How much loan does Tala give for the first time?

As a first-timer in Tala, you will get anything from Ksh 500 to Ksh 2000. Getting the amount is never guaranteed. You may also fail to get any amount.

How can I get Tala’s loan approved?

The only way to get your loan approved is through application. Ensure you provide valid details and have a good credit score.

How can I borrow from Tala without the app?

It’s not possible to apply for a Tala loan without the official app.

How can I get a 5000 instant loan in Kenya?

To get such an amount within a short period of time, you will have to borrow from different apps. For a start, you can identify 10 loan apps and start applying for a minimum of Ksh 1,000 loan.

Can I loan 5k from Tala?

Yes, but your credit score has to be high. It is very unlikely for first-time loan applicants or defaulters to get that kind of money.

How long does the Tala app take to approve a loan?

Tala takes a maximum of 5 minutes to either approve or decline your loan.

Why is Tala not giving me a loan?

Tala loan approval is done automatically by their systems. If your credit score is low, you are a defaulter or you provided the wrong details during application, then your loan will be rejected.

What if I do not pay my Tala loan?

Failure to repay your loan attracts additional interest and lowers your financial credit score.

How do I know my Tala loan limit?

The App displays your loan limit after filling in all your information.

How much interest does Tala charge?

Interest rates at 15% and may go up to 25 -25%.

Can Tala put someone in CRB?

No, CBK stopped some loan apps from enlisting defaulters on CRB. Additionally, Tala doesn’t like exposing their clients to CRB for a few coins.

Can you borrow Tala twice?

No, you can only borrow once, repay on time, and borrow again. You can’t cash out twice from the same loan application amount.

What is the highest loan limit in Tala?

Ksh 50,000 is the highest loan limit you can get in Tala.