Mobile Loan Apps Kenya Repayment Formulas
| App | Interest Type | How Days affect repayment amount | Simplified Formula |
|---|---|---|---|
| M-Shwari | Flat 7.5% per month | If loan runs full month = 7.5%. If repaid early, no daily adjustment (still full fee). | Total = A × (1 + 0.075) |
| KCB M-Pesa | Flat 8.5% per month | Same as M-Shwari → Days not used (charged full monthly rate). | Total = A × (1 + 0.085) |
| Fuliza | Daily fee + 1% access fee | Days directly affect fee. | Total = A × (1 + 0.01 + 0.01 × D) |
| Tala | Daily rate (~1.5%/day short term) | Days scale interest. | Total = A × (1 + 0.015 × D) |
| Branch | Daily rate (~0.75%/day) | Days scale interest. | Total = A × (1 + 0.0075 × D) |
| Zenka | Daily rate (~1%/day) | Days scale interest. | Total = A × (1 + 0.01 × D) |
| Okash | Daily rate (~1.2%/day) | Days scale interest. | Total = A × (1 + 0.012 × D) |
| Opesa | Daily rate (~1.5%/day) | Days scale interest. | Total = A × (1 + 0.015 × D) |
| Kopa Cash | Daily rate (~1%/day) | Days scale interest. | Total = A × (1 + 0.01 × D) |
| Shika | Daily rate (~2%/day, very high) | Days scale interest. | Total = A × (1 + 0.02 × D) |
Key Points to Note
- Some lenders (like M-Shwari, KCB M-Pesa) charge flat monthly fees (not daily). So the number of days only matters if it’s a full month or not.
- Tala, Branch, Zenka, Okash, Saida, Opesa all follow a monthly percentage rate model, but actual percentage depends on customer profile. They also charge daily interest rates, so the number of repayment days scales the total amount to repay directly.
- Fuliza is unique because it charges daily interest + access fee, so repayment depends on the number of days used. The exact daily fee also depends on Safaricom brackets (KES 2–30/day)
👉 Related read: 5 Best Digital Savings Apps in Kenya 2025
FAQs on Mobile Loan Apps Calculator
How can I calculate Fuliza loan repayment?
To calculate Fuliza loan repayment, enter your loan amount and number of days into our calculator. Fuliza charges 1% daily access fee plus a 20% excise duty on fees. The calculator shows your total repayment instantly.
What are the interest rates for Tala loans?
Tala charges between 11% and 15% monthly interest depending on your credit profile. Use the calculator by entering the amount and repayment period to see your total repayment.
Which mobile loan app in Kenya is cheapest?
Rates vary by app and repayment period. Generally, M-Shwari and KCB M-Pesa charge around 7.5% per month, while Fuliza charges daily fees, and apps like Tala and Branch vary from 11%–20%. Our mobile loan apps calculator helps you compare instantly.
