Apps Like Branch And Tala. For those who have utilized other apps to apply for a loan on their mobile phone, for example tala loan app by tala kenya or branch, mkey will feel different to you. Many people use money advance apps like dave to plan for their upcoming expenses, avoid overdraft fees, and borrow up to $100 whenever they need some money instantly.
Unlike tala, their processing time is a bit long and can take up to 24 hours, with an average time of 3 hours. Once you have borrowed a loan from mobile lenders like branch, tala, okash, saida e.t.c it takes between 2 minute to 5 hours for it to be disbursed or rejected. The advantage of using dave is that rather than charging you a variable or fixed interest rate for your loan, it only costs you a $1 monthly subscription fee.
The similarities between the two apps’ sign up end there.
Tala’s are typically 180% annualized; This feature enables you to initiate a conversation directly with branch. Applications for mobile loans is simple. How simple is the process?
