Compare Branch, FairMoney, Tala, Carbon, Zenka, OKash, and Jumo. See true APR, fees, and total repayment for your exact loan amount and duration.
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Notes
Digital lending APRs often exceed 100-400% when annualized. These apps are convenient but expensive for anything beyond a true short-term cash emergency. Always check if you can borrow from a SACCO, employer, or family first.
Frequently Asked Questions
Why do digital lending apps charge such high APRs?
Digital lending APRs look high when annualized because the fees (5-18% flat per 30-day loan) were designed for short-term use. Branch or Tala charging 10% for 30 days = 120% APR, but for someone who needs money for 30 days and repays, they pay 10% total — far less than a loan shark. The real danger is rolling over or taking multiple loans.
Are these apps regulated?
Major apps are licensed: Branch (Central Bank of Kenya, CBN Nigeria), Tala (CBK Kenya, BSP Philippines), FairMoney (CBN Nigeria), Carbon (CBN Nigeria), Zenka (CBK Kenya). Always check the current license status on the central bank website. Avoid unlicensed apps that request full contact list access.
What happens if I don't repay a digital loan?
Late fees accumulate (typically 1-2% per day). Your credit score is negatively reported to credit bureaus (TransUnion, CRB Africa). Some apps send messages to contacts. Persistent default can lead to legal action and permanent credit blacklisting. Always borrow only what you can repay — these apps penalize default harshly.