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Mobile loans lending company Tala closes its operations in Tanzania

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Mobile loans lender Tala has closed its operations in Tanzania without divulging further details. In a statement on its Social media platforms, the company said it will no longer offering loans in Tanzania. Those servicing loans can continue to repay though.

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“We regret to inform you that Tala is no longer offering loans in Tanzania. We appreciate the opportunity to serve you, and wish our loyal customers continued success in your financial journeys. You can use the following paybill number to pay outstanding balances,” reads a brief note from Tala.

Tala Tanzania PayBill Number.

The Company did not however give reasons for the haste decision. But it is expected that they will give a full presser later this week. Apart from Tanzania, Tala operates in Kenya, India and Mexico; among other countries.

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Cheap Mobile Loans: Tala Mobile loan app download and how to use it

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Tala is arguably one of the top lending apps in Kenya. It prides in its ability to give customers instant loans directly to their M-Pesa accounts.

Join millions of satisfied Tala customers who have grown their businesses, paid for school fees, and managed expenses with peace of mind. The guide below will give you a head start to using Tala lending app on your phone.

How simple is the process?

• Download the Tala app
• Fill out our quick loan application in the Tala mobile app
• Verify your identity through our secure system
• Get cash sent directly to your M-Pesa in an instant

How do I repay my loan?

• Repay your loan with M-PESA Xpress or through our Paybill 851900 and the phone number you sign up with
• You can pay in full or make partial payments, anytime on or before your due date
• Easy repayment schedule keeps you on track with your payments

The benefits of Tala in-app features at your fingertips:

• Personal security PIN to ensure protection
• Track your credit with My Tala Status
• Easy repayment schedule that keeps you on track with your payments
• Millions of Tala customer success stories to inspire you on your journey

Have questions? Visit www.tala.co.ke to check out our FAQs
Ready to get started? Download the Tala app and apply for a loan today. This app is available at Google Play Store.

Privacy and permissions: When you download Tala, you will be asked to scan your M-Pesa SMS and other information in order to verify your identity, creditworthiness, and provide you the fastest loan in Kenya.

Terms and Conditions:

Tala charges a one-time service fee of 5-19%* of principal amount. Repayment schedules may vary. There is no minimum payment period for repayment; customers may make payments towards their principal at any time following disbursement. A one-time late fee of 8% of principal amount and interest may be applied to loans past due. No other fees will be charged after this time. Additional terms and conditions apply.
*Effective APR: 85.17-231%. Tala will never charge you more than the amount of your service fee (plus a one-time late fee if you do not pay by the due date). Fees do not compound or accrue.

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