When listing popular Instant mobile loan apps in Kenya today, you must mention the Afri Kash Loan App as well. This app is an online platform developed by Afri-CAN SUN limited. The app, just like any other mobile loan app, provides loans to customers within minutes after the application has been approved.
The primary aim of creating the Afri Kash Loan App was to give those who are underserved and unbanked a chance to access credit facilities without too many demands.
Many have achieved their dreams of starting a business through the app by receiving small loans that require no securities.
This article gives the process of applying for a loan and other procedures involved when using the app to make your loan application successful.
How to register on Afri Kash
To register on the app, you first need to download and install it on your device, then create your user’s account. Below is the procedure for downloading the app.
Downloading the Afri Kash Loan app
- Go to google play store
- type ‘Afri Kash’ in the search box
- Once the app pops up, click “Install.”
After the app is installed on your device, you need to create your user’s account. This is where you will be accessing your services.
To create an account, follow the procedure below.
Creating an account on the Afri Kash loan app
- Open the Afri Kash App on your device
- Verify your phone number
- Fill in your details. (These details include your full legal name, ID number as well as year of birth)
- Submit three months Mpesa statement.
- The account will be activated after a short while
The Mpesa statements you submit will be used to analyze your loan limit. The frequency and amount of transactions you make through your Mpesa are used to determine your ability to repay the loan.
When borrowing from the app, take note that the interest rates vary depending on the loan period.
To borrow from the Afri Kash loan app, follow the procedure listed below.
Borrowing from Afri Kash Loan App
- Open the app on your device
- Log in to your account
- Select the amount you need as a loan. (Should be equal to or less than your loan limit )
- Submit the loan application
Once the application has been processed and approved, you will receive the money through the Mpesa number you used to register on the app. The application will only be accepted if you have applied within your loan limit and have a good borrowing record.
The loan should be repaid on time to avoid having a negative credit report by the CRB. Regular borrowing and timely repayments contribute to increasing your loan limit. This means that the more you borrow and repay on time, the more you can borrow from the app.
To repay the loan, you need to follow the procedure below.
Repaying a loan from Afri Kash Loan App
- Go to the Mpesa menu
- Select Lipa Na Mpesa
- Select PayBill
- Enter 571485 as PayBill number
- Enter your phone number as the account number(Should be the number verified by the Afri Kash app)
- Key in Amount. (Enter the amount of loan you want to repay)
- Enter Mpesa pin
- Press Okay to complete the transaction.
Once the transaction is successful, you will receive a notification from Mpesa and Afri Kash Loan App showing that you have successfully repaid your loan.
You now have the processes involved when applying and repaying your loan on Afri Kash Loan App. The app is a must-have for small-scale business persons who might find themselves in urgent financial needs.
However, it should be noted that loans should only be taken and used for the right purpose. Bad borrowing habits might affect your future financial assistance in case you fail to pay and end up being listed as a defaulter by the CRB.
If you have an issue with your app that requires technical assistance, contact the Afri Kash help team via an email to [email protected]
If the Afri Kash loan app does not suit your needs, you can always try other platforms that offer instant financial aid. These platforms include HF Whizz, an online instant loans application developed by the Housing Finance Corporation.