As an observer of the Fintech industry, you can’t help but notice the booming mobile loan industry in Kenya. With principle, I know that Kenya is the single African Country with the most mobile loan apps people can borrow from. This success if affiliated to M-Pesa. Its existence has made it possible for other mobile loan apps to thrive. The most recent loan app is Housing Finance Whizz loan app.
The Housing Finance Group launched their digital financial services platform aptly named Housing Finance Whizz (HF Whizz).
Housing Finance started out as a mortgage company 52 years ago and now it is on the verge of transforming into a multi-dimensional digital financial services company and the mobile app is just a tip of the iceberg.
Banking is much easier today but the Housing Finance Whizz loan app makes it more convenient than it is already. HF whizz allows the users to open an account in less than a minute.
I will be honest with you, this is the shortest time I have heard or seen someone opening an account with any bank.
Housing finance manages this by using the details that you used to register your M-Pesa account. This way, you do not have to go to the bank to verify your new account. All you need to do is deposit money in the app from your M-Pesa and you are good to go.
About Housing Finance Whizz app
The app automatically saves your details such that you do not have to input the paybill number when depositing money. This eliminates expensive mistakes which can lead to loss of money if one inputs the wrong paybill number.
According to Housing Finance Whizz, the app is mostly targeted at the young hustler and the micro entrepreneurs. These are the people who don’t have time to visit the traditional bank hence require an app which offers convenience.
The app will be giving out soft loans to its users since it will especially be serving entrepreneurs. This is because entrepreneurs need a helping hand at one time or another.
This is because this group sometimes faces cash crunches due to the fact that they sometimes have to supply goods on credit which normally takes about 30 days or more to be paid. During this time, bills have to be paid and one has to restock.
As such loans become the easiest bet because family and friend may not always have the funds or be willing to assist. The HF Whizz App allows you to apply for a loan from the comfort of your home or office wherever that may be.
Housing finance Whizz imposes an interest rate of 7.725% on approved loans. The loan amount will depend on your transactions on the account and M-Pesa. The app is available on Google play store for Android users.
How to get a loan from the Housing Finance Whizz app:
Register for the service
register by downloading the app on the Google Play store and enter the required details
Creating an account
To create an account you need a phone number and your ID number. You will be sent a PIN to activate the service to access your account.
Applying for a loan
Once you have successfully created an account, you can successfully apply for a loan from your HF whizz app.
Whizz offers loans of upto Ksh. 50,000. The loan amount will be charged an interest of 7.725%.
The loans are payable in 30 days.