Home Foreign Loan How To Get A Quick Loan From Zenka Via Sms

How To Get A Quick Loan From Zenka Via Sms

How to get a Zenka loan via SMS

This is how you can apply for a Zenka loan via SMS if you don’t own a smartphone.

Dial *841# to dial the USSD Code
Enter your 4-digit PIN,
Select [Extend] to view information about the cost and term.
Choose one of the terms available.
Follow the payment link to wait for an SMS notification.

What are the requirements to apply for a Zenka loan?

These are the requirements to borrow a loan from Zenka:

National ID
Smartphone or feature phone (Mulika Mwizi).
Mpesa will register your Safaricom number to receive and repay your loan.

Zenka smartphone users can apply for a loan by Zenka

The App can be downloaded from the Apple Store or Google Play Store.
Complete the application form with all the required information.
Once you are approved, the money will be credited to your M-Pesa account.

How do you pay your Zenka loan back?

The following are ways you can repay your loan via Mpesa:

Open the mpesa Menu.
Select lipa na mpesa.
Select the Pay Bill option.
Enter your business number and enter Zenka paybill number 97988.
Next, input your zenka account number.
Enter the amount you wish to pay, and press O.K.
To complete the transaction, enter your m-pesa pin.

These steps will allow you to pay your Zenka loan.

Dial *841# to dial the USSD Code
Enter your 4-digit PIN,
Select [Repay] to find out more about your current balance.
Follow the link to make payment.

Zins rates for Zenka Loans

The lowest interest rate is 0.9%, while the highest is 29%

Zenka Loan Terms and Conditions

Eligibility.

Zenka only needs your first name, last name, National ID and answer to a security question of the choices provided. They only need your first and last names, National ID, a response to the security questions provided, as well as a 4-digit PIN.

They consider all factors in assessing your creditworthiness to fulfill their responsibility as responsible lenders. This includes your past history with us, data from you mobile phone and any information received.

Zenka Credit limits

The history of your other creditors and your borrowing habits will affect the amount you can borrow. They will use the information to determine your eligibility.

You can get higher amounts faster by building credit and establishing a positive repayment record with Zenka. This is easily accomplished with several timely repaid loans.

What are the penalties if you don’t pay your loan on-time?

Failure to pay the extension fees for due loans will result in your being placed on the CRB. You should consider their loan extension before you wait to pay the penalties. This gives you more control over your loans by allowing you to postpone your due dates by 7, 14 or 30 days.

You must have an active loan with a current balance of at least 30 days.

You will be rewarded with a greater loan limit if you pay your debts on a regular basis.

Zenka’s loaning platform has many advantages, including:

The first loan is completely free and you will pay 0% interest.
Loan terms that are longer than those offered by other loan apps (61 days)
If your loan limit has not been exceeded, you can still top up your loan.
It is possible to pay for a longer loan term and lower interest rates.

Who is eligible for the Loans?

Owners of small businesses.
Citizens and netizens who need quick loans.

Questions frequently asked

1. What is the maximum amount of loan Zenka can give me?

Zenka mobile loan app charges a one-time processing charge of KSh 45 to Ksh 870.

The minimum and maximum amount you can borrow is 500 up to 30,000 Kenyan Shillings.

The repayment period is either 61 or 180 days. However, it must be repaid in full once it expires.

2. How can I increase my Zenka limit

The history of your other creditors and your borrowing habits will affect the amount you can borrow. They will use the information to determine your eligibility.

You can get higher amounts faster by building credit and establishing a positive repayment record with Zenka. This is easily accomplished with several timely repaid loans.

These are some ways to increase credit limits:

Make sure you pay your debts on-time
Keep good standing with creditors
Credit building with positive repayment histories
Regularly borrow from Zenka
Pay your loan repayments on time or early.
Make sure your account is active.
Refer friends to Zenka
Ask Zenka to increase the limit.

These tips will help you increase your chances of being approved for a Zenka loan with a higher limit.

3. How can I get a Zenka PIN?

Select the option “forgotten both your Zenka security question and ID number” Next, Zenka will ask for the following information: ‘Full Name’ Phone number’?Date of birth’?Email address’… Zenka will send your PIN to your email.

4. How can I obtain a Zenka loan

To access the platform, download the Zenka Loan App. Register if you’re already using the app.

Follow the prompts to apply if you used the USSD Code. After you have registered, you will receive a notification with the limit. Next, choose the loan repayment term and you are done.

Conclusion

Zenka loan is a useful tool for Kenyans looking to obtain a loan. This loan is ideal for small businesses and anyone who needs a quick loan.

The loan application process is easy when you have the required information and follow the steps. It is simple to use the app and a great way of getting a loan. It’s worth a try.

How To Get A Quick Loan From Zenka Via Sms

How to get a Zenka loan via SMS