In recent months, thousands of Kenyans have reported receiving unsolicited SMS and WhatsApp messages promising instant personal loans from a lender called Stashfin. These messages often claim you are pre-approved for loans of up to KSh 50,000 or more, with low interest rates and fast M-Pesa disbursement.
At first glance, the offer may look attractive—especially in today’s tough economy. However, serious red flags have emerged, and Kenyans are strongly advised to proceed with extreme caution.
So, is Stashfin a legitimate loan app in Kenya, or is it a scam?
Here is the full, verified breakdown.
Is Stashfin a Genuine Lender in Kenya?
Short Answer: NO
While Stashfin is a real and reputable financial technology company, it does not operate in Kenya.
Key Facts You Need to Know:
- Official Market: Stashfin is an Indian-based NBFC (Non-Banking Financial Company).
- Regulator: It is regulated by the Reserve Bank of India (RBI).
- Kenya Status: Stashfin is NOT licensed by the Central Bank of Kenya (CBK) as a Digital Credit Provider (DCP).
- No Kenyan App: There is no official Stashfin loan app for Kenya on the Google Play Store or Apple App Store.
👉 Conclusion: Any loan SMS, WhatsApp message, or website claiming to offer “Stashfin loans in Kenya” is not genuine.
The Stashfin Kenya Scam Explained
Scammers are impersonating the Stashfin brand to exploit its international reputation. This type of fraud is becoming increasingly common in Kenya’s digital lending space.
How the Scam Typically Works
- The Hook
You receive an SMS or WhatsApp message saying:
“Congratulations! You are pre-approved for a Stashfin loan of KSh 50,000. Apply now.”
- The Link
The message contains:
- A suspicious website link, or
- Instructions to download an APK file (an app not found on Google Play Store)
- The Trap
After “applying,” you are asked to pay:
- Processing fee
- Insurance fee
- CRB clearance fee
- Activation or registration fee
- The Outcome
- Once you pay, the scammers disappear
- No loan is ever disbursed
- In some cases, the fake app steals your contacts and personal data for future harassment or extortion
Major Red Flags to Watch Out For
If you see any of the signs below, you are dealing with a scam:
🚩 Upfront Fees
Legitimate lenders in Kenya never ask for payment before loan disbursement. Any lender asking for fees is a scam.
🚩 Unsolicited Loan Offers
If you never applied, you cannot be “pre-approved.” Genuine lenders don’t randomly send loan approvals.
🚩 APK Downloads
Any loan app that asks you to download outside the Google Play Store is extremely dangerous.
🚩 Personal Phone Numbers
Scam messages often come from ordinary numbers like 07XX… instead of registered sender IDs like MPESA or CBK-licensed brands.
🚩 Fake Websites
Scammers use poorly designed websites that imitate real financial companies.
Is There a Legitimate Stashfin Loan App in Kenya?
❌ No. There is no Stashfin loan app legally operating in Kenya.
Any platform claiming to offer:
- Stashfin loans via M-Pesa
- Stashfin Kenya USSD loans
- Stashfin SMS loans
…is fraudulent.
How to Protect Yourself from Fake Loan Apps in Kenya
Follow these safety tips before applying for any digital loan:
✅ Always Check CBK Licensing
Only borrow from lenders listed in the Central Bank of Kenya (CBK) Digital Credit Providers Directory.
✅ Never Pay Before Receiving a Loan
Processing fees before disbursement = 100% scam.
✅ Use Official App Stores
Download loan apps only from Google Play Store or Apple App Store.
✅ Ignore “Too Good to Be True” Offers
Very high loan limits with no requirements are usually bait.
What To Do If You Receive a Stashfin Loan SMS
If you receive such a message:
- Do NOT click any links
- Do NOT download any apps
- Do NOT send any money
- Report the number by forwarding the message to 333 (Safaricom fraud reporting line)
- Delete the message immediately
If you already shared personal information, consider securing your accounts and monitoring unusual activity.
Final Warning to Kenyans
The Stashfin Loan App Kenya claims circulating via SMS and WhatsApp are scams. The real Stashfin does not operate in Kenya and is not licensed by CBK.
With the rise of fake loan apps in 2026, Kenyans must stay alert, informed, and cautious. Always verify before you borrow.
Remember:
If a lender asks you to pay money to receive a loan, it is not a lender—it is a scam.