Welcome to our comprehensive Kashway Loan App Review. Kashway is one of the prominent players, offering speedy loan processing and a strong commitment to data security. In this review, we’ll cover the app’s features, user experiences, and privacy measures to provide you with a clear understanding of what Kashway has to offer. Whether you’re considering downloading the app or seeking insights into its safety and reliability, we’ve got you covered.
Kashway Loan Requirements
To qualify for a Kashway loan, applicants need to be at least 18 years of age, ensuring that they are legally eligible to enter into financial agreements. Secondly, a valid national ID is essential, serving as a means of identity verification.
Also, individuals are required to possess a Safaricom phone number, which is commonly used for communication and as a contact point during the loan application process. By adhering to these prerequisites, potential borrowers can initiate the loan application process and access the financial support they need through Kashway.
Kashway Loan Interest Rate
Kashway offers flexible loan options tailored to meet the diverse financial needs of its users. With loan amounts ranging from 500 Ksh to a maximum of 60,000 Ksh, individuals can access the precise funds they require.
The loan terms extend from a minimum of 91 days to a maximum of 180 days, providing borrowers with ample time for repayment. Kashway’s Annual Percentage Rate (APR) is structured competitively, with interest rates spanning from a minimum of 30% to a maximum of 72%, ensuring that users can select the terms that align best with their financial circumstances.
How To Apply For Kashway Loan
Download and Install the Kashway App
Start by visiting the Google Play Store on your Android device. Search for the “Kashway Loan” app and proceed to download and install it on your smartphone. Ensure you download the official app to guarantee the security of your personal information.
Signup with Your M-Pesa Number
Once the app is successfully installed, open it, and you’ll be prompted to sign up. Begin by entering your Safaricom M-Pesa phone number. This phone number is essential as it will be used for communication and loan disbursement.
Verify Your Phone Number
After entering your M-Pesa number, the app will automatically send a verification code to that number via SMS. Retrieve the code from your messages and input it into the app to verify your phone number.
Fill in Your Personal Details
With your phone number verified, you’ll need to provide some personal information to complete your profile. This may include your full name, date of birth, and other relevant details. Accurate information is crucial for the loan application process.
Apply for the Exact Loan Amount You Need
Once your profile is complete, you can proceed to apply for a loan. The app will typically offer you a range of loan amounts based on your creditworthiness and previous borrowing history. Select the specific loan amount you require to meet your financial needs.
Get Approved and Receive the Money in Minutes
After submitting your loan application, Kashway will review your request. If you meet their eligibility criteria and your application is approved, you can expect to receive the loan amount in your M-Pesa account within minutes. Kashway is known for its swift approval and disbursement process, making it an ideal choice for those in need of immediate financial assistance.
How To Repay Kashway Loan
Open the Kashway Loan App
Start by locating the Kashway loan app on your smartphone and open it. Ensure that you have a stable internet connection to facilitate a smooth repayment process.
Access Your Loan Details
Once you’re inside the app, look for the “My Loan” section. Tap on it to access your loan details, including your outstanding loan amount and repayment options.
Select the Loan You Want to Repay
From the list of loans associated with your account, choose the specific loan that you wish to repay. Ensure that you select the correct loan to avoid any confusion.
After selecting your loan, you’ll typically see an option like “Repay In Advance” or a similar phrase. Tap on this option to initiate the repayment process for the chosen loan.
Review and Confirm Your Information
Before proceeding with the repayment, Kashway may ask you to review the loan details and repayment amount. You need to double-check this information to ensure accuracy. Confirm that the loan you intend to repay is indeed the one selected.
Select Your Payment Method
Kashway offers various payment methods to cater to your preferences. Choose the payment method that suits you best, whether it’s through mobile money services like M-Pesa, a bank transfer, or any other available option.
Complete the Repayment
Once you’ve selected your preferred payment method, click or tap on the “Repay now” button to initiate the repayment process. Follow any additional on-screen instructions provided by Kashway to finalize your repayment.
Confirmation and Receipt
After successfully completing the repayment process, you should receive a confirmation of your payment. This confirmation typically includes details such as the repayment amount, the loan that was repaid, and the transaction reference number.
Open M-Pesa Menu
Start by opening the M-Pesa menu on your mobile phone. This can typically be accessed through a dedicated app or by dialing the M-Pesa USSD code on your phone.
Choose “Lipa na M-Pesa”
Within the M-Pesa menu, select the “Lipa na M-Pesa” option. This feature is used for making payments and transactions.
Select “Paybill” Option
After choosing “Lipa na M-Pesa,” you’ll be presented with various payment options. Select the “Paybill” option, which allows you to make payments to specific business numbers.
Enter Paybill Number
You’ll be prompted to enter the Paybill number for Kashway, which is 900068. This number is essential for directing your repayment to Kashway’s account.
Input Account Number
Your account number for this transaction should be the same M-Pesa number you used to register with Kashway. Ensure accuracy in entering this number to prevent any payment issues.
Enter Repayment Amount
Input the exact repayment amount you wish to make towards your Kashway loan. Double-check to ensure the amount is correct before proceeding.
Enter M-Pesa PIN
To confirm and authorize the repayment, you’ll need to enter your M-Pesa PIN, which serves as a security measure. Ensure you enter your PIN accurately.
Confirm and Complete
After entering your M-Pesa PIN, review the details of your repayment, including the Paybill number, your account number, and the repayment amount. If everything is correct, press the ‘OK’ or ‘Confirm’ button to finalize the payment.
Once the transaction is completed successfully, you’ll receive a confirmation message from M-Pesa. This message will serve as your proof of repayment and should include transaction details such as the amount paid, Paybill number, and your account number.
Kashway Loan Customer Care
If you need assistance with your Kashway loan or have inquiries, you can reach out to their customer care through various channels. You can visit their Facebook page at https://www.facebook.com/kashway002 for updates and information. For email inquiries, you can contact them at email@example.com. If you prefer in-person assistance, you can visit their office at MILESTONE BUILDING, KIAMBU ROAD, Nairobi.
Frequently Asked Questions
What is Kashway Loan?
Kashway Loan is a mobile loan app that provides instant loans to eligible users in Kenya. It allows you to borrow money for various purposes and offers a quick and convenient loan application process.
How do I download the Kashway Loan app?
You can download the Kashway Loan app from the Google Play Store on your Android device. Search for “Kashway Loan” and click “Install” to download and install the app.
How long is the repayment period for Kashway loans?
Kashway offers flexible loan terms, with the shortest tenor being 91 days and the longest being 180 days. You can choose a repayment period that suits your financial situation.
Is Kashway Loan safe and secure?
Yes, Kashway Loan takes data security and user privacy seriously. They use encryption and other security measures to protect your personal information. Additionally, Kashway does not share your details with third parties.
How quickly can I receive my Kashway loan once approved?
Once your loan is approved, you can expect to receive the money in your M-Pesa account within minutes.
This comprehensive review of the Kashway Loan App has provided essential information in straightforward terms. Kashway is a popular mobile loan app in Kenya known for its quick loan processing and strong security measures.
To be eligible for a Kashway loan, you need to be at least 18 years old, have a valid Kenyan national ID, and use a Safaricom phone number. These requirements are the first steps to accessing Kashway’s financial support.
Kashway offers loans ranging from 500 Ksh to 60,000 Ksh with repayment periods ranging from 91 to 180 days. Interest rates vary from 30% to 72% giving borrowers options to match their financial situations.
Applying for a Kashway loan is simple: download the app, sign up with your M-Pesa number, verify your phone, provide your personal details, and request the desired loan amount. Kashway is known for its fast approval and disbursement process.