This article will truely take you through the Tala loans review in 2022.
Tala is a name of town in Kenya!!! yes, it is, but the Tala I am directing to is a mobile loan application that immediately allows you to get a loan on your mobile phone directly to M-Pesa.
Shivani Siroya, the Company CEO, established the Fintech Company behind the Tala loan app. The business is based in Santa Monica, California. It accomplishes operating in Kenya and in Mexico, the Philippines, and India.
How do I successfully apply for a Tala loan?
As in the image above, the tala mobile app operates on Android-enabled phones.
The Tala loan application process is easy like this:
Step 1: Download Tala App
Visit the Google Play Store and then download the app to your phone. You need to be linked to the internet and have an M-Pesa-activated phone number to finish this task.
Step 2: Fill Tala loan application form
The following step is for you to sign up in the Tala app. The necessary information is personal information which Tala uses as “protection.”
Step 3: Apply for a Loan
After registering, you can use for your loan. You don’t have to wait but go forward and apply.
The best thing is you will know if you authorize or not. Then, if you are eligible for the loan, the money will be expended to your M-Pesa in less than a minute.
How Much Money Can I Borrow?
If you authorize for the first time, you can acquire from as low as KES 1,000 to around KES 5,000, relying on your M-Pesa statement.
The first time the loan amount is small, you are encouraged to make timely repayment to permit for more the next time you borrow.
The max you will ever get from the Tala app is Ksh 30,000. This is after several prosperous repayments on time.
What are Tala Kenya Loan Interest Rates & Terms?
Tala says they don’t apprehend interest fees on their loans but have a Service Cost for each loan you take.
This ‘Service Fee’ relies on the type of loan you take. They offer a 30-day loan & a 21-day loan which you prefer, and these are the other service fees charged:
5% – 14% for loans within 21 days.
7% – 19% for loans within 30 days.
Tala Kenya Review
Now that you know more concerning Tala App let me give you my assessment. This is based on my knowledge, and if you have a different experience, please let me know in the remarks below.
I must say I like it and have not had any problems.
The process is slick and easy for anyone with a mobile phone, from downloading to applying for the preferably loan to repay the loan. It is easy, and you can do it on your phone.
I like it most because it reveals you how much you qualify for and how much you will repay right from the beginning.
It also tells you what data it will collect on your phone and asks for your consent to do this.
I have not contacted Tala App support, but I discover the FAQ section quite straightforward and helpful. This is an intelligent action where the many questions you have regarding the app are answered right there in the app.
We have a support party for loan borrowers in Kenya on Facebook, and Tala was rated as the most utilized app in a mini poll we ran on the group.
I wouldn’t say I enjoyed Tala because they asked inquiries every time I needed to get a loan. But it is rather short, and I always get it done in a second.
I waited repaying my loan at once, and I got regular messages and calls, which was annoying. You will be contacted and texted regularly until you pay if you default.
The application is also useful and has helped many people sort out their financial problems immediately.
Keep reading the blog, as I will edit this review with more details.
Check out the rating area on different issues that I think are useful.