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Are you wondering how to download the Tala loan app on your device? If you’re a first-time user, this is likely the main question on your mind. There’s no need to panic, as the process of downloading the app to your mobile phone is incredibly straightforward. Just follow a few simple steps, and you’ll be ready to use the app in no time.
Formerly known as Mkopo Rahisi, Tala was among the pioneers in providing mobile loans that necessitated only online registration and application. It provides instant loans accessible through mobile phones. While the service is available in Kenya, the lending company itself is headquartered in California, USA.
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Tala operates as an instant loan app in Kenya, accessible on smartphones and other mobile devices. To begin using this service, the first step is to download the app onto your device, followed by completing the registration process and applying for a loan.
Upon qualification, the loan amount is swiftly deposited into your M-Pesa account. The loan limit is determined by your M-Pesa transaction history, meaning that frequent transactions result in a higher loan limit. The app scans your phone’s M-Pesa messages to gather this data.
Initially, the loan limit typically starts at Kshs. 500 or more, with the potential to increase up to Kshs. 50,000 over time. Increasing your limit involves utilizing the service more, making early repayments, and conducting multiple M-Pesa transactions.
Tala eliminates the need for collateral or a guarantor with its unsecured loans. However, this results in shorter repayment periods compared to traditional financial institutions, currently set at 30 days or 21 days.
The loans incur a service fee, which Tala refers to as an “interest rate.” Presently, the service fees stand at 15% for 21 days and 11% for 30 days. To access the service, you require an internet-enabled device like a smartphone or tablet, along with the Tala loan app.
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For Android users, you can find the Tala loan apk on the Google Play Store. Follow these simple steps to install the Tala loan app on your Android device:
For Microsoft users, download the Tala app by following these steps:
Unfortunately, Tala for iPhone and other iOS devices is not currently available. This is because Tala requires access to text messages to determine loan eligibility, and Apple’s operating systems prioritize security, making such access challenging to obtain.
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In conclusion, the Tala loan app revolutionizes the borrowing experience by providing instant loans through a simple and convenient mobile platform. With its user-friendly interface and easy access on Android and Microsoft devices, Tala caters to a wide range of users seeking quick financial solutions.
While Tala’s availability on iOS devices remains a limitation due to Apple’s stringent security measures, its seamless integration with M-Pesa and innovative loan assessment methods make it a preferred choice for many borrowers in Kenya.
Whether you’re a first-time user looking to download the app or an existing customer aiming to increase your loan limit, Tala offers a transparent and efficient lending process. Therefore, keep in mind the tips and steps outlined in this guide to make the most out of your Tala loan experience.