The Zash Loan App Kenya, a popular mobile lending platform in Kenya, continues to gain trust as one of the go-to financial solutions for Kenyans seeking quick and accessible credit, however, with higher interest rates.
Operated by Zillions Credit Limited, a licensed digital lender regulated by the Central Bank of Kenya (CBK), Zash has solidified its position in the competitive digital lending market.
The app remains a key player amid Kenya’s evolving financial landscape, offering loans ranging from KSh 500 to KSh 50,000 with flexible repayment terms of 7 to 90 days.
Many borrowers commend the app for its fast approval process and seamless integration with M-Pesa, which allows funds to be disbursed within minutes of approval.
“Zash has been a lifesaver for emergencies,” said Mary Wambui, a Nairobi-based small business owner.
“The application is simple, and the money comes quickly.” The app’s appeal is further enhanced by its lack of requirement for credit history, making it accessible to Kenyans aged 18 to 60 with a stable income source.
However, concerns have emerged regarding the app’s high interest rates and aggressive loan recovery tactics.
Zash charges a maximum annual percentage rate (APR) of 25%, with a daily penalty of 2.5% for late repayments, according to its terms of service.
Some users have reported receiving persistent calls and messages from debt collectors, even for relatively small overdue amounts.
“The interest can pile up fast if you miss a payment,” cautioned Peter Omondi, a user from Kisumu. “You have to be disciplined with repayment.”
The app’s status with the Credit Reference Bureaus (CRB) also remains a point of contention.
While Zash is among the digital lenders barred by the CBK from accessing CRB services, its terms indicate that defaulters may still be reported to CRB after a 10-day notice period.
