iPesa Loan Kenya 2026: App Download, Rates & How to Apply
iPesa is a mobile lending app operated by Risine Credit Limited, a digital credit provider licensed by the Central Bank of Kenya since March 27, 2023. The app has over 1 million downloads on Google Play and a 4.6-star rating. It offers loans from KES 500 to KES 50,000, disbursed to M-Pesa.
On paper, that looks standard. The CBK license is real, the app works, and the money arrives. But iPesa's fee structure and collection practices deserve a closer look before you download. This review covers what iPesa actually costs, how it compares to alternatives, and whether it's worth using.
How iPesa Works
Like most Kenyan loan apps, iPesa uses your smartphone data to assess creditworthiness. You download the app, grant permissions (SMS, contacts, phone data, location), register with your Kenyan ID, and the system runs a credit check using your M-Pesa history and phone activity.
First-time users get small loans, typically KES 500 to KES 2,000. Repay on time and your limit increases over subsequent loan cycles. The maximum is KES 50,000 for established borrowers.
Where iPesa differs from Tala or Zenka is its repayment structure. You can choose between bullet repayment (pay everything at once) or installments spread across the loan period. Repayment terms range from 7 to 180 days, which is significantly more flexible than Tala's fixed 21-30 day window.
iPesa Interest Rates and Fees (2026)
Here's where it gets complicated. iPesa charges an "origination fee" of 18-36% that is deducted from your loan before disbursement. This means you don't receive the full amount you borrow.
| Loan Amount | Origination Fee (18%) | You Receive | You Repay | Effective Cost |
| KES 1,000 | KES 180 | KES 820 | KES 1,000 | 22% of received |
| KES 5,000 | KES 900 | KES 4,100 | KES 5,000 | 22% of received |
| KES 10,000 | KES 1,800 | KES 8,200 | KES 10,000 | 22% of received |
| KES 30,000 | KES 5,400 | KES 24,600 | KES 30,000 | 22% of received |
| KES 50,000 | KES 9,000 | KES 41,000 | KES 50,000 | 22% of received |
The table above uses the minimum 18% fee. At the maximum 36% rate, a KES 10,000 loan would give you only KES 6,400 while you repay the full KES 10,000. That's a 56% effective cost on the money you actually received.
The annualized rate (APR) ranges from 36% to 72% depending on your credit profile and loan tenure. For context, Tala charges roughly 15% per month as a service fee but gives you the full loan amount. Both are expensive, but iPesa's upfront deduction means you're paying interest on money that never reached your M-Pesa.
The Late Payment Penalty
This is the part that demands attention. iPesa charges 2% per day on overdue balances. That's not a typo. If you're 10 days late on a KES 10,000 loan, you owe an additional KES 2,000 in penalties alone. After 30 days, the penalty alone exceeds your original loan amount.
This penalty structure is one of the harshest among CBK-licensed lenders and is the primary reason I'd caution against iPesa unless you're highly confident in your ability to repay on time.
iPesa Paybill Number
iPesa uses M-Pesa Paybill 600200 for loan repayments. To repay:
- Go to M-Pesa > Lipa na M-Pesa > Pay Bill
- Enter Business Number: 600200
- Enter your Account Number (your phone number registered with iPesa)
- Enter the repayment amount
- Enter your M-Pesa PIN and confirm
You can also repay directly through the iPesa app, which generates the M-Pesa payment prompt automatically.
Requirements to Get an iPesa Loan
- Age: 18 years or older
- ID: Kenyan National ID
- Phone: Android smartphone (iPesa is not available on iOS)
- M-Pesa: Active, registered M-Pesa account
- App permissions: You must grant iPesa access to SMS, contacts, location, and phone data
The requirements are standard for Kenyan loan apps. No payslips, no bank statements, no collateral needed.
How to Apply for an iPesa Loan (Step by Step)
- Download the iPesa app from Google Play Store. Search "iPesa" in the store. Do not download APKs from third-party websites.
- Register your account. Enter your phone number and verify via OTP sent by SMS.
- Submit your National ID. Enter your ID number for verification against government records.
- Grant app permissions. iPesa requires access to SMS, contacts, call logs, location, and device information. These are used for credit scoring. Denying permissions will block your application.
- Wait for credit assessment. iPesa analyzes your phone data and M-Pesa transaction history. This typically takes 5-15 minutes.
- Choose your loan amount and terms. Select the amount (up to your approved limit), choose bullet or installment repayment, and pick your repayment period (7-180 days).
- Review the fees. iPesa shows the origination fee and the amount you'll actually receive. Read this screen carefully before confirming.
- Confirm and receive funds. After accepting the terms, the net amount (loan minus origination fee) is sent to your M-Pesa.
How to Increase Your iPesa Loan Limit
iPesa uses a tiered system where your limit grows with your borrowing history:
- Repay on time. This is the single most important factor. Late payments will freeze or reduce your limit.
- Borrow regularly. Active borrowers see faster limit increases than those who borrow once and disappear.
- Don't max out. Borrowing below your available limit and repaying shows financial discipline.
- Keep M-Pesa active. Regular transactions signal financial activity to the credit scoring algorithm.
- Maintain phone permissions. Revoking app permissions can trigger a reassessment and lower your limit.
The Debt Collection Problem
I need to address this directly. iPesa has a documented pattern of complaints regarding aggressive debt collection practices. A search through app store reviews, social media, and consumer complaint platforms reveals recurring themes:
- Calls to contacts listed in the borrower's phone book when payments are overdue
- Messages sent to contacts informing them of the borrower's debt
- High-pressure communication from collection agents
- Difficulty reaching customer support to resolve disputes
To be fair, CBK licensing requires adherence to fair debt collection guidelines, and the regulator has tightened enforcement since 2023. Risine Credit Limited is subject to these rules. But the volume of complaints suggests the issue persists.
If you borrow from iPesa, do so with the clear understanding that late payment will likely result in contact with people in your phone book. This is not unique to iPesa (several Kenyan loan apps have faced similar accusations), but the frequency of complaints is higher than average.
iPesa Customer Support:
- Email: help@ipesa.cc
- Phone: +254 757 222 979
iPesa vs Tala vs Zenka vs Branch: Comparison
| Feature | iPesa | Tala | Zenka | Branch |
| Max Loan | KES 50,000 | KES 50,000 | KES 100,000 | KES 70,000 |
| Fee/Rate | 18-36% upfront | ~15%/month | 14-29% | 16-22%/month |
| APR | 36-72% | ~180% | Variable | ~192-264% |
| Repayment | 7-180 days | 21-30 days | 61 days - 6 months | 4-68 weeks |
| Repayment Type | Bullet or installments | Bullet only | Installments | Installments |
| Late Penalty | 2%/day | Tiered + CRB | Tiered + CRB | Tiered + CRB |
| iOS Support | No | No | Yes | Yes |
| CBK Licensed | Yes (March 2023) | Yes | Yes | Yes |
| Play Store Rating | 4.6 stars | 4.2 stars | 4.3 stars | 4.1 stars |
| Downloads | 1M+ | 6M+ | 5M+ | 10M+ |
Key takeaways from the comparison:
- iPesa's repayment flexibility (7-180 days) is its strongest feature. Tala locks you into 21-30 days.
- Zenka offers higher limits (KES 100,000) and installment plans with iOS support.
- iPesa's 2% daily late penalty is the harshest in this group.
- iPesa's lower APR (36-72%) looks better than Tala's (~180%), but the upfront deduction means you receive less cash.
- For repeat borrowers who always repay on time, iPesa's flexible terms could actually save money compared to rolling over short-term Tala loans.
Pros and Cons of iPesa
What iPesa Does Well
- CBK licensed. Risine Credit Limited is a regulated entity, not an illegal lender.
- Flexible repayment. 7 to 180 days with both bullet and installment options gives you more control than most apps.
- Stated APR is lower than competitors. At 36-72% APR, iPesa's annualized cost is technically lower than Tala's ~180%.
- Fast disbursement. Money reaches M-Pesa within minutes of approval.
- No collateral or guarantor. Standard for app loans, but still a benefit versus formal bank products.
Where iPesa Falls Short
- Upfront fee deduction. You never receive the full loan amount, yet you repay as if you did. This is the worst fee structure in Kenyan digital lending.
- 2% daily late penalty. Can turn a KES 5,000 loan into KES 10,000+ of debt within a month of missed payment.
- Aggressive collection complaints. The volume of complaints about contact harassment is above average for CBK-licensed lenders.
- Android only. No iOS app excludes iPhone users entirely.
- Low initial limits. First-time borrowers receive KES 500-2,000, which may not cover actual financial needs.
Is iPesa Worth It?
iPesa occupies an uncomfortable middle ground. It's CBK-licensed, which is good. The repayment flexibility is genuinely useful. But the upfront fee deduction, the 2% daily late penalty, and the collection complaints make it hard to recommend as a first choice.
If you need a loan app with flexible repayment terms and Zenka has rejected you, iPesa could work. But go in with eyes open: borrow only what you can definitely repay on time, because the penalties for being late are severe.
For most borrowers, I'd suggest this order of preference:
- M-Shwari or KCB M-Pesa if you qualify (cheapest rates)
- Tala for straightforward, transparent short-term loans
- Zenka for higher limits and installment plans
- iPesa only when you need the 7-180 day flexibility and other apps aren't available
Frequently Asked Questions
How do I download the iPesa loan app?
Download iPesa from the Google Play Store. Search "iPesa" and look for the official app by Risine Credit Limited. The app is free to download. Do not use APK files from third-party sites, as these may be modified or contain malware.
What is the iPesa Paybill number?
iPesa's M-Pesa Paybill number is 600200. Use this to make loan repayments via Lipa na M-Pesa > Pay Bill. Your account number is your registered phone number.
What is the maximum iPesa loan limit?
The maximum iPesa loan is KES 50,000. However, first-time borrowers start with KES 500-2,000. Your limit increases as you borrow and repay on time over multiple loan cycles.
What happens if I can't repay my iPesa loan on time?
iPesa charges a 2% per day late penalty on overdue balances. After extended non-payment, you will be listed with CRB (Credit Reference Bureau), which affects your ability to get loans from banks and other lenders. Based on user reports, iPesa may also contact people in your phone book regarding your outstanding debt.
Is iPesa safe?
iPesa is operated by Risine Credit Limited, which holds a CBK digital credit provider license. The app is legitimate and regulated. However, the extensive phone permissions it requires mean your personal data (SMS, contacts, call logs) is accessed and stored. Only download from the official Google Play listing.
Can I get an iPesa loan with a bad CRB record?
iPesa uses its own internal credit scoring that considers M-Pesa history and phone data. A negative CRB listing may reduce your limit or result in rejection, but it's not always an automatic disqualifier for small amounts. Results vary by individual.
How long does iPesa take to disburse?
After approval, iPesa typically disburses to M-Pesa within 5-15 minutes. Some users report longer waits during peak hours or when the system is processing high volumes.
Does iPesa work on iPhone?
No. iPesa is available only on Android. iPhone users should consider Zenka or Branch, which support both Android and iOS, or use USSD-based options like M-Shwari and Fuliza that work on any phone.