PesaZone loan app: How to get started

NO Paperwork, NO Questions Asked! You can borrow from KES 250 to KES 15,000/= from PesaZone loan App and receive the cash via M-Pesa from anywhere in Kenya without any guarantors, security or office visits!

What am I talking about? I am talking about PesaZone from PesaPro limited. Here again, I bring you good news of another platform where you can get yourself a small easy loan and settle that emergency that is giving you a headache.

You will never blame us for not educating you. Be my guest as I tell you more about the PesaZone loan App.

To start with, PesaZone is the most simplified peer to peer lending application in Kenya. Peer to peer lending is a form of borrowing where one person with money lends money to someone else who needs money.

But there has to be a referee who oversees the transactions and makes sure that the debtor pays back the money to the lender.

So I have 500Ksh and you need 500Ksh, let’s meet at PesaZone so I can lend you the money and in case you refuse to pay back, PesaZone already has your details, so they can list you on CRB or follow up and penalize you. I hope you got what I was trying to explain there.

From the above scenario, you can already see that PesaZone is open-ended on both sides meaning as a borrower, you can easily get loans and on the other side.

If you need to make money using money, you can loan out what you have and get over 10% interest per month on your investment. As a lender, the expected profit is over 17X higher than the 0.7% monthly interest that might be offered on a bank savings account!

As a borrower, you can borrow from KES 500 to 50,000/= from the App and receive the cash via M-Pesa, without any paperwork, securities or office visits!

How to use PesaZone as a lender

• To become a lender, use the Lend option on the app and top up your PesaZone account via M-Pesa. You can top up from Ksh 1,000 to Ksh 50,000.
• PesaZone automatically loans out the available cash to qualified borrowers.
• Borrowers must meet our strict credit rating before they can place a loan request.
• Loan repayments are collected and deposited into your account automatically.
• Withdraw the available cash and profits via M-Pesa at any time.

• Request borrower details and loan repayment information and monitor all transactions.
• A borrower’s credit rating is calculated from a range of records which may include phone records, Credit Reference Bureau data, and other online records.
• If you don’t meet the rating, we will be unable to offer you a loan, but you can still lend to others.

How to use PesaZone as a borrower

Unlike other mobile loan Apps, expect some differences with PesaZone since the platforms are different. Here, you will have to pay 40/= as a verification fee that PesaZone calls ‘Know Your Customer (KYC).

I know we all hate being charged when we are trying to get help but as a Kenyan, you have all the rights to be skeptical. However, feel free to pay the One-off charge since it helps the systems to verify your Details and M-Pesa account.

Getting started with the loan app

• Register yourself
• Pay the fee
• Wait for the verification message

Applying for a loan from PesaZone app

• Log in to the app
• Adjust the amount you wish to borrow
• Select the duration of repayment
• Submit

You will receive the loan within minutes. If it takes more than 9hours before you receive it, contact PesaZone.

Repaying PesaZone loan

• You’ll use PesaZone Paybill Number 754285 registered as PesaPro Limited
• Go to your M-Pesa menu
• Select Paybill
• Enter business number 754285 (PesaPro Limited)
• The account number is your phone number
• Enter the amount that you should repay
• Enter Mpesa PIN
• Confirm
• Submit

For smaller loans, the repayment period is 1 week but the deadline increases for larger amounts.

How to Contact PesaZone Customer care

Use the in-app chat (Check top right-hand corner for the message icon and click on it) or you can write an email to support@pesazone.com. Unfortunately, there are no mobile numbers that we can link you to at the moment