Last Updated on October 27, 2023
Tala is a fintech company headquartered in sunny Santa Monica, California but operates in Kenya, Mexico, the Philippines, and India. However, a Tala loan is one of the most sought-after loans in Kenya.
It’s claimed that Tala has disbursed over a staggering $1 Billion to assist those in need in the countries it operates in.
The Tala loan app harnesses the power of cutting-edge technology to evaluate a borrower’s creditworthiness and swiftly delivers loans to them within minutes.
As a result of their swift response and great customer service, the Tala loan app has achieved an impressive 4.7/5.0 rating on the Google Play store, with an astounding 10 million downloads and over 400,000 enthusiastic reviews.
And here’s the best part – Tala cares about inclusion and accessibility. For those without a smartphone, Tala Loan got you covered with their mobile USSD codes. You can borrow loans effortlessly via USSD codes, ensuring that everyone gets a fair shot at financial support.
With such a stellar reputation, ratings, and reviews, Tala stands tall as one of the best loan apps in Kenya. Now let’s talk about how to apply for a Tala loan via SMS, the Tala loan limit and just about everything that has to do with the Tala loan in Kenya.
How to Apply for Tala Loan Via SMS
21991 is Tala’s loan SMS number. But most times, it’s used for communication purposes.
If you experience any difficulties during a loan process, fear not! All you have to do is, draft a text message about your Tala emergency loan or any other Tala-related query, and send it straight to Tala’s SMS number – 21991.
Be rest assured you’ll get a prompt response to your request. Oh, and here’s a little secret. If you’ve been racking your brains, wondering how to check Tala’s loan balance via SMS.
Just type “Balance” and send it to 21991, and voilà! You’ll get the details of your loan balance in no time.
How to Apply for Tala Loan on App
To apply for a Tala loan app, follow these steps:
- Head over to the Google Play Store. That’s where you’ll find the Tala App Loan.
- Download and install the app on your mobile device.
- Create your Tala Account by following the app’s registration prompts.
- Provide personal Mpesa account details and form of identification.
- Input phone number.
- Verify the phone number either through mail or an OTP sent as SMS.
- Once you’ve created an account, you’ll receive a variety of loan offers. These loan offers are tailored to your credit score, so you’ll see what suits you best.
- Apply for a loan that fits your needs and is easy for you to repay.
- After inputting your loan amount, your loan application will be processed within seconds.
- Loan disbursement – Your Tala and Mpesa accounts will send a notification of loan disbursement.
Tala Loan Limit
When it comes to the Tala Loan limit, the lowest amount available on a loan is Ksh 500, while the highest loan amount remains Ksh 30,000.
You might be a die-hard Tala user, but even for the most devoted souls out there, that Ksh 30,000 is the ultimate limit.
So, remember that while Tala’s got some sweet offers, you can’t exceed that magic number.
Tala Loan Requirements
Tala loan requirements for loan application are:
- Age: Applicants must be of legal age to enter into financial contracts, which are usually 18 years old or above.
- Mobile Phone: Since Tala operates through a mobile app, having a smartphone is often necessary to access their services.
- Own Mpesa Account.
- Identification: Applicants may be required to provide a valid form of identification, such as a national ID card, passport, or other government-issued ID.
- Mobile Data and Usage: Tala would analyze your mobile data and usage patterns to assess your creditworthiness and determine your loan limit.
- Credit History: While Tala is known for serving individuals with limited or no formal credit history, having a positive credit history can potentially increase your loan limit and borrowing capacity.
Tala Loans Interest Rate
For those Tala loans with a 30-day repayment period, you can expect to encounter interest rates spanning from a modest 7% all the way up to 15%.
Now, these rates depend on one key factor – your frequency of loan application. Meanwhile, if you opt for loans that come with a 21-day repayment timeline, the story changes slightly.
The fees charged for these loans range from a reasonable 5% to a maximum of 11%.
How to Repay Tala Loan
To repay Tala loans is easier than you think. All you have to do is follow these steps:
- Visit Mpesa Paybill – that’s where Tala loan repayment happens.
- Punch in the Paybill Number, a magic code for repayment “851900.”
- Input your Tala registered phone number.
- Punch in the repayment amount that covers what you borrowed, plus the interest that comes along with your loan.
- Click that Pay button
- You’ll get a notification that your loan has been successfully repaid.
How do I Contact Tala Loan Customer Service
To contact Tala’s exceptional customer care team, here’s how you can do it:
For those who prefer the digital route, send an:
- Email to: email@example.com. They’ll be ready and waiting to assist you.
- Message: Tala App’s chat section. Strike a conversation, and you’ll have your answers in no time.
- SMS: Send a message to 21991, and Tala’s customer care will be at your service.
- Web: https://tala.co.ke.
Here, you’ll find all the information and support you need, right at your fingertips. Choose your preferred mode of communication and get the answers you need.
Getting a Tala Loan in Summary
Tala offers a straightforward and convenient way to access loans through their mobile app. By following this step-by-step guide, you can increase your chances of a successful loan application.
Remember to borrow responsibly and make timely repayments to maintain a positive credit history with Tala.
Always check the official Tala website or app for the most up-to-date information on their loan application procedures and services.
Choose your preferred mode of communication and get the answers you need.