Zenka Digital Limited is the mother company of the Zenka Loan App Kenya created to provide fast loans easily accessible to Kenyans. Launched in 2018, Zenka soon attracted an audience with an impressive rating of 4.2 stars on Google Play and a cumulative of 123K reviewers with over 5 million downloads.
The app is designed to offer loans worth up to 100,000 KES, which can be easily applied for and availed on the same day. As one of the best mobile loan apps in Kenya, Zenka App ensures users meet their financial needs quickly.
Installing Zenka Loan App
To download the Zenka Loan App, users should open up the Google Play Store and type in the search box “App Zenka Loan”. They can then download and install it on their mobile devices. Users must provide their details through the app by completing the short application form and that way gain access to the services offered.
Zenka Loan App Key Features
Availability of loans ranging up to KSh100,000 from as low as KSh500.
Flexible repayment terms during which, the loan payback periods range from 61 days to 180 days.
Grow your credit limit up to KSh. 30,000 by repaying on time.
Users’ loan limits increase on clearing outstanding debts.
Loan extension repayments to relief to the customer.
How to Apply for Zenka Loans
Applying for loans through Zenka Loan App Kenya is simple
Make a download of the Zenka Loan App from the Google Play Store.
Fill in your short application form in the app which only requires you to mention the type and amount of loan you are applying for.
Fill out the application and hand submit it for assessment.
On approval, the amount you have loaned will be transferred directly into your M-Pesa wallet.
Zenka Loan Repayment Procedure
Repaying the Zenka Loan in Kenya is convenient and hassle-free
Make sure adequate balance has been loaded into your mobile phone’s M-Pesa wallet.
Switch on your SIM Toolkit and go to the M-PESA option from the option menu.
Choose Lipa na M-PESA from the list that appears
Select the pay bill option
Choose the account number as Zenka Paybill Number 979988
Enter the phone number registered as the account number.
Enter the Amount to Pay
Input the M-PESA PIN.
Wait for confirmation from M-PESA and Zenka.
Advantages of Zenka Loans
Zenka Loan App Kenya has an efficient and quick loan application procedure.
Instantaneous release of funds to the user’s M-Pesa wallet.
Flexible repayment terms with provision of loan repayment extension and additional financing.
Capacity to build a good credit record and extend the credit limit through prompt payment.
Disadvantages of the Zenka Loan App
Relatively higher-interest rates offered when compared to the other are the banks such that they quote more on the interest rates.
Due to the use of M-Pesa as a channel for the loan’s disbursement and repayment, some users may not have access to loans.
Late loan repayment may become a burden by charging additional fees and has a bad effect on credit risk.
