This guide on how to apply Tala USSD Code and Mobile App guide offers simple steps to follow and get loans instantly. Imagine the convenience of receiving instant loans to your mobile device, addressing the need to physically visit banks visits or experiencing lengthy approval processes. The Tala Loan App facilitates this, catering efficiently to both small-scale and significant financial needs.
Using USSD Services means that the user agrees to the Terms and Conditions.
These Terms and Conditions are deemed incorporated into and made a part of these Terms and Conditions.
The Tala mobile app is also available on the Google Play store for downloading, installation, and registration to unlock your financial potential.
Tala Loan Limit and Interest Rate
The loans are in three categories ;
a.) Bronze Level
The loan product targets first-time applicants with loan amounts ranging from Ksh 500 to Ksh 4,999.
b.) Silver Level
Here, the minimum loan limit set is Ksh 5,000, and the maximum loan limit applied is Ksh 9,999.
c.) Gold Level
The set minimum loan limit for this level is Ksh 10,000, while the maximum loan limit is Ksh 50,000.
Tala lensing app charges a flat service fee as follows:
- A 30-day loan attracts a service fee between 7% to 19%.
- A 21-day loan attracts a service fee between 5% to 14%.
Tala Loan Limit and How to Increase it
Tala determines loan limits through an automated system that assesses various factors when deciding approval and loan amounts. Once you complete your application, the app will provide your loan limit.
The best way to raise your loan limit is through early or on-time payments. However, Tala mentions that while this can positively impact your limit, it cannot guarantee an increase or specify the amount since it considers multiple factors.
How to Apply for a Loan on Tala
To apply for a loan on Tala, follow these steps:
- Go to the Play Store on your smartphone and search for the Tala loan application.
- Click Install button to allow the app to download and install.
- Proceed to launch the application and click on the ‘Sign Up’ button.
- Register using your phone number.
- Key in the 4-digit verification code sent to your phone.
- Choose a 4-digit PIN number for logging into the app.
- Confirm your PIN.
- Accept the terms and conditions, including permissions for calls, SMS, Contacts, and location. After clicking ‘accept’, the app will prompt you to ‘allow’ the mentioned permissions.
Tala Loan Details:
| ITEM | DETAILS |
| Tala Website | Tala |
| Loan Amount | Ksh1k–30k |
| Loan Period | 61 Days |
| Interest Rate | 0.3% Daily |
| Total Cost (incl fees) | Depends on the loan period and amount |
How to Apply for Tala Loan, Repayment and Fees
- Download Tala Loan App: Search for the Tala loan application on the Google Play Store and install it on your mobile phone.
- Sign-Up: Launch the app and, tap on ‘Sign Up’, and register using your phone number.
- Verification: Enter the 4-digit verification code sent to your phone and set a 4-digit PIN for app access.
- Accept Terms: Accept terms and conditions, including necessary permissions for calls, SMS, contacts, and location.
- Loan Limits:
- Bronze: Ksh 500 to Ksh 4,999
- Silver: Ksh 5,000 to Ksh 9,999
- Gold: Ksh 10,000 to Ksh 50,000
- Service Fees:
- 30-day loan: 7% to 19% service fee
- 21-day loan: 5% to 14% service fee
Tala Loan Application Steps:
- Homepage: Click on ‘Apply Now’.
- Information Input: Provide the requested personal and financial information accurately.
- Loan Purpose: Select the loan purpose from business expense, personal expense, or bill payment.
- Education and Employment: your education and employment history.
- Additional Income: Indicate any additional income sources.
- Spending Information: Provide details on how you spend your money.
- Loan Details: Enter the loan amount and choose the repayment period (21 days or 30 days).
- Submission: Click submit and wait for loan approval.
- Approval Notification: Receive an SMS notification regarding loan approval or rejection.
- Disbursement: Once approval is done, the loan amount will be transfered to your M-Pesa account within minutes.
How to Repay Your Tala Loan:
To repay successfully via the Tala app, follow these simple steps:
- Open the M-Pesa menu on your phone.
- Select the “Lipa na M-Pesa” option and then choose “Paybill.”
- Enter the pay bill number: 851900.
- In the account number section, input the phone number linked to your Tala registration.
- Choose the loan amount you wish to repay and authorize the transaction by inputting your PIN.
- After authorization, you will receive an SMS confirmation from Tala indicating successful repayment of your loan.
Fees and Penalties Charged for Defaulting
When you fail to settle your loan on time, Tala Loan App applies fees and penalties according to the following guidelines:
If you miss the repayment deadline by 7 days, Tala charges an 8% fee on the remaining balance. Additionally, you are given an extra 14 days to settle the outstanding amount.
However, failing to repay the loan within 60 days after its due date leads to more serious consequences. Tala may report your name to the Credit Reference Bureau (CRB). Being blacklisted by the CRB can have adverse effects on your ability to borrow from other lenders in the future.
Where to Raise Complaints and Inquiries
For any complaints or inquiries regarding Tala loans in Kenya, you can reach out using the following contact details:
| Platform | Details |
| hellokenya@talamobile.com | |
| Tala App | In-app chat platform |
| X (formerly Twitter) | @TalaKenya |
| SMS | Use 21991 |
| Official website | Tala |
| Tala |
NB: One can use SMS Contact by drafting a text message about the Tala loan and sending it to the Tala SMS number 21991.
Frequently Asked Questions
You can repay your Tala loan through the M-Pesa menu on your phone using the Paybill number 851900, your phone number as the account number, and your PIN to authorize the transaction.
If you fail to repay your Tala loan within 7 days of the due date, an 8% fee is charged on the remaining balance. Failing to repay within 60 days may result in reporting to the Credit Reference Bureau (CRB).
You can contact Tala via email at hellokenya@talamobile.com, through the in-app chat platform, on Twitter (@TalaKenya), on Facebook (Tala), by sending an SMS to 21991, or by visiting their official website at tala.co.ke
Conclusion
Tala customers need to settle their loans promptly to improve their credit ratings and improve their lives.
The loan products are also accessible via mobile loan apps, which are available on the Google Play Store.
Prospects need to follow simple guidelines, and they are good to go.
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