Introducing Shika Loan App. The rate at which credit companies are mushrooming is alarming. It means that we, Kenyans have a huge appetite for cash. It is understandable though. The economy has been tough on us while responsibilities have doubled if not tripled.
Our last resort has been borrowing from creditors. However, banks are notorious for high-interest rates. Luckily, we have a variety of online loan apps In Kenya that can grant you instant loans and help you save the situation.
Shika loan app serves is one of these platforms that is heaven sent. It is a platform from which borrowers can access quick loans from Alternative Circle.
What you should know about Shika Loan App
- This app is available for Android mobile users in Kenya.
- The loan limit is between Ksh 500 and Ksh 20000
- Only Safaricom mobile subscribers can benefit from this service presently.
- Upon approval, the loan is sent to you via M-Pesa in a span of 3 minutes.
- A 15% facilitation fee is charged of the loan amount.
- The loan should be repaid in full in a period not exceeding one month (30 days)
- In Case of late payment, a 10% rollover fee is charged on the owed amount
- A rollover exceeding 60 days will attract a CRB listing.
Shika loan Download: Getting Started
- Download Shika loan app from play store
- Install the App on your Android mobile
- Register with you national Card ID number and your Safaricom number
- Create a Pin for your Skika Loan App
Applying for a Mobile Loan on Shika App
- Ones you are set on Shika, log into your account using your created pin and select “Request loan”
- Enter the amount you wish to borrow.
- Using data from Safaricom, Shika will generate a loan limit for you.
- It is important to honor the loan limit they give you (Never exceed the limit coz you will never get the money)
- After entering the loan amount hit Confirm and wait for approval or your loan.
How to repay your loan on Shika loan
- Login to your Shika account
- Select ‘Repay loan’
- Hit the ‘COPY’ button (redirects to your Safaricom Mpesa)
- Select Mpesa
- Select Lipa Na Mpesa
- Enter Shika Paybill number 811655
- Account no; (your Safaricom Number eg: 0712436729
- Enter the loan amount
- Enter your PIN
- Hit Submit
Shika help Helpdesk
In case you need some confirmation or have an issue you want to settle with Shika. Be sure to contact them;
Call or SMS to 0742143999
Email to: [email protected]
Or visit them at their Interswitch Offices, Nairobi, Orbit Place, Chiromo Lane, Westland’s, 4th Floor.