AfrikaLoan app is a mobile loan app offers loans from KSh 500 to Ksh 50,000. Interest rate is between 0.8% and 15.2% per month. Repayment time ranges between 7days and 52 weeks.
One must be of 18 years and above to apply for qualify for a loan.
In addition, the person applying for the loan must be in possession of National ID, residence address and an active cell phone number with M-Pesa account.
How to download and register with Afrikaloan app
To download the loan app go to Google play store or click here.
Once you’ve downloaded the Afrikaloan app the next thing is to register before applying for the loan. To register you need to honestly enter the following details;
- Name as it appears in your National ID
- ID number
After filling the above details, accept terms and conditions then click on next button.
A five digit confirmation code will be sent to your phone number. Enter the code once prompted and follow the steps that will follow until you finish up the registration process.
Once the loan is approved the money is deposited into the Mpesa number within a few minutes.
How to repay Afrikaloan through Mpesa Paybill number 697566
To avoid being listed on CRB and your loan attracting more penality, its advisable to repay it timely. Its is also worth noting that paying your loan earlier increases your chances of qualifying for higher loan.
To pay your loan through Mpesa follow these steps;
- Navigate to your Mpesa menu and select Lipa na Mpesa
- Select the ‘ pay bill’ option
- Enter the Afrikaloan app paybill number as 697566
- Next, choose the ‘account number’ enter your M-PESA phone number
- Enter the amount you are repaying then press OK
- Enter your Mpesa pin
- Confirm whether all details are correct then press OK.
Afrikaloan app Contacts
Incase of inquiries with regards to services offered by Afrikaloan, one can contact them through the following platforms;
- Facebook: Afrikaloankenya
- Twitter: @afrikaloan
- Email: info@afrikaloan.com
- Website: Afrikaloan.com