This is the most comprehensive guide to download and apply for a loan on the branch loan app in Kenya. The best part, this article has been updated for 2019 and will help you get started on mobile loans quickly.
If you just landed here, probably you’re looking for an emergency loan. Therefore, kindly read the post below to find out how you can improve your chances of getting a loan fast with Branch.
Most Kenyans survive on loans throughout the year. Thanks to mobile phones. Now you can use online platforms such as Branch Loan App to get a loan straight to your M-Pesa enabled smartphone.
Branch loan usually takes up to 24 hours to process but due to the law of demand, it takes an average of 3 hours for your loan to be processed. That’s quick ha?
What is Branch loan app?
Branch Loan App is a product of Branch International, a micro-finance lending institution operating in several countries including Kenya. Branch International uses Branch app to make it easy for Kenyan citizens to access emergency loans anytime and anywhere.
If you’re looking for the best loan app for personal finance or business then, you’ve come to the right place. Branch loan app is the second best loan app after Tala.
Unlike Tala, which takes time to process, Branch loans are instant and do not require you to provide your payslip, title deed or whatever collateral for that matter.
You can download Branch App from the Google play store, and the branch loans are usually disbursed immediately through Mpesa with the minimum loan limit being Ksh 250 and can reach up to a maximum of Ksh 50,000.
Currently, Branch has more than 3 million customers and has so far disbursed more than 15 million loans issued in Kenya, Nigeria, Tanzania, Mexico, and India.
Once you get a Branch loan, you can choose the repayment period of between 1 to 12 months charged at an adjustable interest rate. The interest rate is usually dependent upon a customer’s credit score.
Advantages of Branch loans
- Branch loan products are designed to fit your needs
- Branch loans do not have late penalties or rollover fees
- A customer does not need a savings account to access Branch loan app services
- Good credit history with Branch qualifies you for more massive loans with flexible terms.
Must Read: Tala Loan App
How Branch Works
The Branch loan App uses machine learning algorithms which process thousands of data entries to assess your credit profile and create tailored loan products. This helps the application to determine branch loan limits available to you.
Data is collected with permission by accessing information on your phone such as
- SMS logs
- Mpesa Logs
- Handset Details
- GPS Data
- Call logs
- Social Network Data
- Contact lists
Note: You can also increase your credit limit by following the instructions written in the previous post on how to raise your loan limit. I have applied those rules several times on different loan apps, and they have worked for me 100%. You too can try.
How to download the branch loan app
Branch Loans only requires your active Facebook account details, mobile number, and a National ID card number after which it scans your phone for the data described above to determine your credit score and hence loan eligibility.
More specifically, you need the following:
- Smartphone – Either Android or iPhone
- A valid/active Facebook Account.
- Safaricom line and Tigo Pesa or Vodacom Mpesa if you are in Tanzania
- Your National ID Number
As stated later in this post, after you’ve downloaded and installed the Branch App. Branch App will check the information provided by CRB Kenya. This process is done to know your credit score.
To check your credit score, kindly follow the steps highlighted in this article: How to check your CRB status in Kenya.
How do I get a loan from a branch?
To get a loan from Branch, simply
- Visit the Google Play store on your Android smartphone and search for the Branch App.
- Download and install the app on your phone
- Open the app and log in using your official Facebook account or phone number (recommended). (Branch only allows one branch account per person and the Facebook account you use when you first log into the app is the one we always associate with your account).
- Open the App and Click on the left Menu. Under Promotions use this code EGR440 to help in getting a loan.
- Fill out the form provided and submit it for a quick review.
- Wait for about an hour or two to apply for your loan
How to withdraw Branch loan
After you fill the form, the loan will be automatically disbursed to your M-Pesa Line. Branch has also partnered with Visa to enable you to withdraw funds from an ATM using “virtual” Visa credentials within that code, no physical debit card or bank account required
How do I pay back a branch loan?
Repaying your loan is easy and can be done on your phone through Lipa Na M-Pesa. Here is a step by step guide on how to pay branch loan.
to pay you Branch loan;
- Navigate to the Mpesa menu on your phone
- Select the Lipa Na M-Pesa option
- Use the Pay Bill item and enter the Number 998608
- Use your mobile number as the Account No.
- Choose the amount you need to pay
Always note that you can pay your loan in installments. After you enter the amount, input your Mobile money PIN and click ok.
Branch loan customer care number
Are you in need of help and need branch loan contacts? Well here is how to contact Branch Loan providers in Kenya.
There are many ways to get branch loan contacts and here are the four main ways you as a client can use to contact the mobile loan lender;
- The first way is through the APP itself where there is a customer care service
- You can also use this email address [email protected] to contact Branch International
- They have an active Facebook page
- You can also find them on Twitter
There you have it those are the currently available branch contacts.
How to invite friends on social media
- Tap on the three bars on the upper left-hand corner of the app
- Select ‘invite friends’ (your code will show)
- Tap ‘invite friends’ at the bottom center
- Select the messaging or social media app to invite friends from.
- Your friends will finally receive your invitation message for their action.
How to earn commission on Branch app
Educate your friends about the following points
- Your friends should enter your promotion code in the branch app under the ‘promotions’ tab
- You will receive a message when your invited friends apply your promotion code
- You will receive ksh500 every time a friend repays their first loan
Please let us hear about your Branch app experience in the comment section below. Why don’t you share this post if you like it?
Before you go, I thought you might also want to read about where to get instant unsecured mobile loans in Kenya.