Branch International, a FINTECH company, specializes in offering instant mobile loans to customers in Kenya and India via a mobile app.
Branch has branches in each of the four countries they operate for more than six years. They’ve seen great success in these four countries and their growth is only going to continue.
Let’s get back to the reason you came here.
What is the maximum loan limit for Branch App?
Let’s discuss it.
What is the maximum branch loan limit?
The Branch loan app, like traditional banks and SACCOs has loan limits. This is the maximum and minimum amount a customer can borrow.
Branch loan limits are currently set at Ksh. 250 to Ksh. 100,000. The maximum and minimum amount you can borrow through the loan app will depend on your borrowing habits and credit score.
Continue reading to learn how you can increase the limit of your branch loan.
How can I find my loan limit branch?
The amount you can borrow through the branch loan app is your loan limit. This limit is determined by your credit score, loan repayment history, borrowing habits, and other factors.
Access your Branch app to find your loan limit branch. Open the loan app, tap on “Loan Limit” and you will see your current loan limit as well as other important information.
What are the requirements to be eligible for a branch loan?
Branch loan apps use complex computer algorithms among other factors to determine your loan eligibility and loan limit. The following factors are used by the loan app to determine your loan eligibility:
1. Your CRB Status
Branch uses your credit score as a tool to assess how risky you are in lending money. Good credit scores indicate that you are a low-risk borrower who is more likely to pay back your loan on time. You will have a better chance of receiving a loan amount that is higher through the app.
2. Your Monthly Income
When determining the loan limit, the loan app will consider your monthly income. Your ability to repay the loan on-time is determined by your income. You are more likely to receive a loan limit that is higher if you have a higher income.
3. Your repayment history
When your loan is processed, the lender will also consider your repayment history. When processing your loan, the lender will also want to see if you have made on-time payments in the past or if there were any late fees or defaults.
A good repayment record will indicate that you are likely to repay your loan on schedule. Lenders will consider this a positive when considering your application.
You will not be approved for the loan if your repayment history is poor. It is important to ensure that you pay your loan on time.
4. Your current location
The Branch app also considers your current location. The app considers your current location when lending money.
They want to make sure that you get customer service and support in the event of any problems with your loan.
5. Mpesa transactions messages.
To determine your loan limit, the app will also gather your Mpesa transaction information. They will want to know if you have ever sent or received money via Mpesa.
This information is used by the app to determine if you are a low risk borrower. This will help the app determine your loan limit.
6. Your current phone model.
This may sound absurd, but it is true. The app will also take into account the type of phone that you’re currently using.
They want to ensure that your smartphone is compatible with their app. This could be a problem when determining your loan limit.
7. Last but not least, the information that you provide to the app when you sign up
Yes. The information you provide during sign-up will also be used to determine your loan limit.
When you sign up for the app, it is important to provide accurate and current information about yourself. This will allow you to get an exact loan limit via the app.
You must have a smartphone that can be used to access the Branch app. This is quite hilarious. It’s hilarious!
How can I increase my limit on branch loans?
You will need to raise your branch loan limit by improving your CRB credit score and paying your existing loans on time. Also, make sure you use the loan application more often. This will demonstrate to the Branch that your are responsible.
There are a few steps you can take to increase your branch loan limit.
- You should have a high CRB credit score.
- Your Branch credit score will rise if you pay your loans on time. This will also increase your loan limit.
- To show that you can trust the Branch app with a larger loan amount, use it more often.
- Keep the transaction messages in Mpesa.
- Keep the branch loan app downloaded to your phone. This allows the app to better understand you financially.
- To gain their trust, you can apply for and repay loans through the app.
- Buy a quality smartphone.
- The customer service representative can also increase your loan limit. If you are a loyal customer, they may be able help you.
Branch checks CRB
Branch app uses your credit score from CRB to determine your loan eligibility and limit. A good CRB credit score will increase your chances of getting a loan. Branch cannot check CRB scores, although this may change.
Visit the websites of all three CRB bureaus in Kenya to check your credit score. These are:
- Creditinfo CRB Kenya.
- Transunion Kenya CRB
- Metropol CRB
You may be able to get a loan from the Branch app if you have a low credit score.
If you have further questions regarding the Branch Loan Limit 2022, don’t hesitate to reach out to the Branch customer support team. They’ll be happy to assist you.
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