What is Tala Loan App?
Tala Loan app initially mkopo Rahisi Offers instant Unsecured mobile loans To Kenyans. It belongs to a California based Finance company.T ala offers a minimum loan amount of Ksh 500 to first-time users and up to a maximum of Ksh 30,000 for subsequent users with good loan repayment history.
Who is Legible for a Tala Loan?
Anyone qualifies for a Tala loan as long as they have a National I.d a registered Safaricom Mpesa Sim Card And an Android-powered Phone.If you take a loan lower than your loan limit then your loan limit drops.
How to apply for a Tala Loan?
Steps on how to apply for a loan on Tala Mobile App:
- Open the Tala App
- Select your language:
- Select either I’M New – Create an account or Sign In.
- Enter your ‘M-Pesa number’.
- Enter ‘PIN’ for your number.
- Wait for the main Tala Mobile App Page to load and then proceed with the below steps.
- Select ‘Apply Now’ and answer the questions that follow.
Some of the questions when Applying for a loan On Tala loan App are :
#How did you use your last loan?
This question is intended to learn how you used your First loan if It is your First time Indicate that it is your first time.
#What would you like to use your loan for?
This part sets straight the type of loan you want to take be it for Business Expense or a Personal Experience.
#Do you have outstanding loans?
Here Tala wants to know if you have outstanding debts one should answer This Question Accordingly.
#What kind of Personal/business expense is this?
What you need to do here is choose one option from the options Tala app will give you on the drop-down list. Tala gives you the following options to pick from; Emergency, medical expenses, education expenses, travel, special occasion or general expenses.
After answering these questions you will be asked to review your answers make sure they are as accurate as possible. Once you have finished this step, the app will show you how much you qualify for. This amount depends on many factors that the app calculates. This amount ranges is different from person to person. The minimum amount Tala Kenya offers is 500 KES.
After that, you have to select a Payment Schedule. There are two payment schedules available in the Tala app. You can select the 21-day repayment schedule which allows you to pay back in three installments. The other option is the 30-day repayment schedule whereby you make the payment in one installment. You will receive your loan on MPESA from Tala Loan and an SMS from 21991 will follow confirming that you’ve received the money and how much you will need to repay.
Tala Loan App Download
To Download, tala Follow Click here .
How long does Tala take to approve a loan?
Tala app claims that a loan application will take 5 minutes, be approved in seconds and cash sent directly to M-Pesa.
How to Repay your Tala Loan via Mpesa.
*Go to Mpesa.
*Select Lipa na Mpesa.
*Select the Paybill Option.
*Enter the Business number as 851900.
*Enter your Tala Registered phone number as the account number.
*Enter your Payment Amount.
*Enter your Mpesa Pin.
*Confirm the details are correct then press OK.
*You will then receive Mpesa Confirmation message saying the money has been sent to INVENTURE MOBILE LTD.
What Happens if You Fail To repay Your Tala Loan?
If you don’t repay your loan in time you are blacklisted.
COVID-19 Rebuild Fund
Kenyan communities and small businesses are in a tough position due to COVID-19. That’s why we launched Community Support Loans to support Kenyan businesses that provide essential goods and services to their communities.
Tala customers who run a business that is providing essential support to your community can apply for a Community Support Loan with specialized terms:
- 0% interest
- 6 month duration
- up to 30,000 Ksh
How does COVID-19 affect my Tala loan?
Due to the spread of COVID-19, decisions on loan applications may be delayed up to 10 days. We apologize for the delay.
For customers with outstanding loans, please reach out to us on the Help tab in the app or by texting us at 21991 if you need help managing your loan.
Staying safe
To prevent the spread of the virus, follow these top tips:
- Wash your hands frequently
- Avoid touching your eyes, nose, and mouth
- Keep a safe distance from others (minimum 1 meter)
- Stay home
Is Tala still available and operational despite the COVID-19 / Coronavirus outbreak?
Like many of our customers, Tala has been deeply affected by COVID-19. To prioritize the health and safety of both our employees and the broader Tala customer community, we have made some important operational adjustments, which may result in delays in customer support responses and loan application decisions. We know you may be counting on a loan from Tala to support you in this difficult time. As we continue to monitor the situation, we assure you that we are committed to serving you and will provide an update as soon as we can. Please take care, stay safe, and thank you for your patience and understanding.