How to qualify for Tala loan in Kenya 2018-step by step procedure

Tala

Tala, once in the past Mkopo Rahisi is a portable credit benefit that has been working in Kenya for as long as 4 years. They have an android application where anybody with a cell phone can get to a credit whenever paying little respect to monetary history.They loan up to Ksh 50,000 which is generally dispensed by means of Mpesa. All these with low charges and a simple reimbursement plan.

The most effective method to Qualify For Tala Loans in Kenya

To fit the bill for an advance from Tala, you have to download their application from Google Play and enroll as a customer.During the enlistment, you will be required to answer a few inquiries ( answer the inquiries accurately in light of the fact that they will assume a major part in the endorsement of your advance) and enter your Mpesa number where the assets will be dispensed to. In the wake of completing the enlistment, the application will gather information from your telephone which they will use to process your advance. Your call recurrence and Mpesa exchange history are among the information that they will get from your telephone.

 

Subsequent to finishing the enrollment, you would now be able to apply for a credit which will be handled in 5 minutes. As a first time candidate, you will be given Ksh 2,000 and no security will be required.Upon endorsement, money will be sent quickly to your M-Pesa account. You will be charged an erratic handling expense of between five to 15 percent of the advance which must be reimbursed up to in a half year.

Paying your advance in great time will promises one to greater advances in future and on the off chance that you neglect to reimburse the credit in the stipulated time you get boycotted. Advances can be reimbursed utilizing Mpesa; Paybill number 851900 your Mpesa telephone number is the record number. Guarantee and affirm you are sending installments to INVENTURE MOBILE KENYA LIMITED.

 

Tala rates are settled at 11% in the event that you pay week after week and 15% on the off chance that you pay month to month.

Tala Loan Categories

 

Bronze

Ksh 500 – Ksh 4,999

Silver

Ksh 5,000 – Ksh 9,999

Gold

Ksh 10,000 – Ksh 50,000

Looking for Tala loan in Kenya? This is the best guide to get the loan. Tala currently runs an android app, and Tala loan app for iPhone is yet to be developed. The Tala loans Kenya have become the first go-to option for business persons and anyone looking for fast and easy loans. Tala app has adopted the invention of mobile money transfer to avail financial access to many Kenyans including those who want to start or boost their businesses.

Just With a simple click of an app button, you can borrow for up to Ksh 50,000 in a matter of minutes. The Tala Mkopo Rahisi as it was previously launched, is reliable, has a quick loan disbursement process, and a sufficient repayment period. Different from banks and other money lending institutions, Tala loan doesn’t require the borrower to provide any form of collateral, which is an upside for people who only have their honesty to show for.

What one needs to do to access loaning services from the company is to download the Tala loan app on your smartphone then proceed to apply for the loan you want right away. And Since the credit will be sent through M-Pesa, you need a registered and active Safaricom Mpesa enabled line as well.

The modern easy-to-use app is helping thousands of Kenyans get access to quick loans for their business, house rent, pay school fees, medical bills, or any other emergency needing cash without going to a bank, a friend or a loan shark for help. This post is all that you need to know about Tala loan application including loan limits and repayment method.

Eligibility to apply for Tala loan

Everyone can qualify for Tala loans as long as they have an android powered phone, a national ID, and a registered Safaricom M-Pesa SIM card. Also, an active Facebook account is a required platform if you want to communicate with the company, but it is not a must-have requirement for the registration process. A single Tala account can be linked to your android phone at ago, and you can have a loan even if you don’t have any formal banking history. Former Mkopo Rahisi application form has revamped for secure storage of customer’s confidential information collected during the review process. That makes it impossible for a third party to get access to your personal information.

Something that makes Tala the best mobile loan app in Kenya is the fact that there’s no buggy paperwork involved that may delay your registration process. The Loans are processed immediately after registration, and as you build your credit history, your loan limit subsequently increases. The Tala loan app Kenya also uses a current way of credit scoring and issuing financial services to offer instant loans to their customers. That eliminates the need for a guarantor, collateral or references to get credit.

On the loan application process, one can choose how you want to make your repayments, either in instalments or a one-time payment. The app has three Tala loan limits:

1.Bronze; which begins at a minimum of Ksh 500, silver which has a minimum loan limit of Ksh 5000 and

2.Gold; which begins at Ksh 10,000.

Tala loan interest rates are usually between 11% and 15% depending on your loan amount. Given these upsides and more, Tala is the one place where you can apply and get instant online loans in Kenya and get it within 24 hours.

How to register to use the Tala loan app

With the best reason why most people go for Tala, loans is that it’s short and easy to follow the application process. Upon a request for the loan, the disbursement is super fast. One also get more than enough time to repay your loan without a rush. Also even if you’re a bit late with the loan repayment, you get a grace period of 60 days. App loan application process is designed to go further and send you notifications to remind you that the loan repayment debt is due.

Coming across secure loans in Kenya is hard. Now thanks to mobile technology, it’s so easy and quick to get a loan. Trying to help meet the high need for loan requests and assurance most lenders have deemed fit to provide online loans in Kenya, Tala Kenya app company has managed to amass a large customer base due to its growing user base. They don’t matter whether you want small loans in Kenya or a substantial capital for your business; They allow you to get financial help with a click of a button.

Although it is only limited to only Safaricom M-Pesa registered users, getting a credit through Tala doesn’t need you to fill out any forms. The Tala loan application process is straightforward and hustle-free as the app will collect much of your information. Additionally, when you get started, you do not need to link your account with your Facebook profile. The app will not use the data from your Facebook account as other use including and not limited to M-Pesa transaction history can be used to determine your creditworthiness appropriately.

Loan approval process for Tala quick loans in Kenya is instantaneous and quite streamlined, but, as a first-time subscriber, you need to give a few personal details

Although, before you get started with Tala loan application, you need to download the app from Google Play Store first, then answer a few questions, and then key in your Safaricom M-Pesa phone number. The Tala app online system will continue to use all the provided data to process your loan, again with no security required.

How to download Tala app

  • Go to the Google Play Store on your phone and click on it.
  • Second, on the search button, type ‘Tala app.’
  • Now Click the ‘Install’ button and wait for the app to complete downloading.
  • Then Open the Tala app and link your active Facebook account.
  • Remember to Give accurate information of all the questions asked to complete your registration. All The answers you give to the personal items will determine whether or not you qualify for the credit advance.

In the event that you are wondering the reason why Tala does not have a physical location, well of late, it’s all about being digital, and loan services in Kenya have become part of the rule. Though just because they don’t have a land-based office does not mean you will be successful joking around with their money. To begin with, your account is linked to the phone number you use to register with Tala.

Also, if you fail to pay the loan after the adequate period given, your name will be submitted to the CRB with a wanting loan history. That might consequently and potentially limit your chances of getting a loan from a bank, let’s say a mortgage credit, if your credit score is very low. But, it may only come to this point if you refuse to pay back your loan even after being advised on how to do so by debt collectors associated with the company. With that just harks back to Tala terms and conditions, that clearly state that if you default on a credit advance, then Tala has the right to engage an external debt collection agency to seek repayment.

Now the good news is that once you’ve cleared your overdue loan with Tala application, you can request for a batch number. One will then need to take the batch number to the CRB for clearance. One can then access your next loan immediately after clearing your current active credit.

How to get Tala loan on your phone easily

After you request for a loan, Tala will disburse it within minutes to your M-Pesa account. Their loan interest rate is flexible, and the repayment duration will depend on the repayment plan selected. But, the period ranges from 21 to 30 days. Below is an easy way on how to get your first Tala loan.

  1. Upon downloading and installing the app, click on the button written, I’m New followed by Create account.
  2. Next, Enter your Safaricom M-Pesa number and wait for a confirmation code.
  3. Now Enter the confirmation code sent by Tala.
  4. From your Tala account, set your four-digit PIN. Ensure that you can easily recall the pin since if you enter the wrong pin several times; for security purposes, your account will be blocked.
  5. Finally, Confirm your ideal PIN and then click on the Submit button.

How the Tala loan application works

The app uses your mobile phone to gather all the necessary information that can be used to gauge your creditworthiness. When your device often receives M-Pesa transactions, then that useful data will work in your favour as it might increase your loan limit. Plus if you change your mobile device without notifying Tala, you will get an error message stating what you should do next. That said, the moment you turn your mobile phone device, install the Tala loan app on your new phone and contact the Tala loan for help via email, Twitter, Facebook, Text or the In-App Chat.

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Some Other factors that might increase your loan limit with Tala Kenya is timely loan repayments, which improves your credit profile. When you take a loan that is lower than your current loan limit or default on your loan repayment, then your loan limit may go down. Now, always aim to make a credit that is closer or the exact amount of your loan limit. Everything below the required amount and your loan limit may drop. And, don’t uninstall the app if you get the message that you don’t qualify for a loan. In that case, keep checking your loan limit as it can change anytime.

Tala Loan contacts and SMS number

Is it that you in a financial crisis? Do you need a quick loan urgently? Here Tala is a mobile loans app that has been helping Kenyans get access to unsecured loans. Being a customer, you can get in touch with Tala using Tala contacts via four channels of communication: via their in chat app on the Tala loan app, social media handles including Facebook and Twitter, SMS and email. Provided any case of any inquiries, complaints or problems you can use Tala loan contacts to reach them through their official Tala Kenya Facebook page – formerly known as Mkopo Rahisi, and Tala twitter account.

  • One can also communicate with Tala through these channels:
  • Tala email address: hellokenya@talamobile.com
  • in-app chat platform
  • Away from these methods, the easiest way that customers can contact Tala and get help is by sending an SMS to 21991.

One can use Tala contacts to get a new pin in case you block your Tala account (previously Mkopo Rahisi account) through entering the wrong pin too many times. One will be requested to upload their selfie, front ID photo and back Identity photo to their social media pages or email, after which they will send you a temporary Mkopo Rahisi login pin. Provided selfie and ID details work to confirm that you are the operator of that Tala account thereafter which they will then unblock it.

Upon completing the Tala loan application form, you will get a status bar on the app that will show your loan limit. Initial first-time applicants might gain access to a loan of Ksh 500 which is the bronze status, or higher. But, your loan limit amount increases depending on your repayment history and a good credit score. The biggest loan allowed is Ksh 50,000. One also get a bonus in terms of virtual money through their referral system that requires you to invite friends or family to use the app.

One only way to get a loan from Tala is through their app. An app is only available to Android phones with an operating system of 4.0 and above. Ios iPhone and Windows phone users, for now, have to be patient until a Tala loans app that is compatible with their IOS is developed. Through upgrading to the latest version of the app, customers can check their credit status, track payments, and even read other customers reviews as well as their success stories.

Through the Tala application, customers get the option to contact a customer service team in case of any problems. After your loan request is accepted, the Tala support team will send you the amount via your M-Pesa. The team will also email you a complete breakdown of how much money is owed and the exact due date.

How to pay Tala loan using M-Pesa

If you want to avoid getting a bad credit score, you need to understand how to repay Tala loan. Consistently make sure you repay your loan before the stipulated deadline to avoid any complications. Tala loan repayment process is also pretty straightforward. Your phone number you used to register with Tala and the Tala pay bill number is what you need to repay your loan. Beneath is a comprehensive guide on how to pay Tala loan using M-Pesa. One can also use the same process to fund a Tala loan for a family member or a loved one.

  • Open M-Pesa menu on your phone
  • Lipa Na M-Pesa then select pay bill
  • Insert the official Tala pay bill number-851900
  • Input phone number you used to register with on Tala as the account number
  • Now Complete the process by keying in the loan amount you want to repay then input your PIN.
  • Then Confirm both the amount and the recipient
  • Wait for confirmation

When your phone isn’t working, then don’t worry. One can still use your friend’s or family member’s phone number to carry out the Tala loans repayment. However, you need to ensure that they do not have an outstanding Tala loan. Simply follow the above procedure and on the account number, use your phone number-the one you used to register with Tala. And On the other hand, if you overpay your loan, then the extra amount will be credited to your Tala account. On the next time, you take another loan, Tala will use that amount to repay your loan in part. Also, you can get a reversal in your M-Pesa if you overpay your credit, and request for the overpay.

Don’t forget, while you can use your phone number to repay a loan for someone else, you cannot take a credit for someone else using the same mobile device. In Spite of the conflicting views on their interest rate, Tala is an excellent online mobile platform for accessing quick loans for low-income earners or anyone who needs cash urgently.

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