Zenka Loan Application Form Online: What is Zenka Loan Application Online and how can it be of help to you? Well if you wish to get an answer to that question, then get ready for it by going through this article. This write-up contains guidelines on how you can easily apply for a loan online from Zenka Loan Online.
Zenka Loan Application Form Online
Zenka is a Kenyan online financial institution that provides financial services to its customers online. This loaning platform has gained numerous users you borrow money from them constantly.
The reason behind their numerous users is that the mobile company gives their users a 0% interest rate on their first loan, not only, they are fast with their service on attending to their customers on processing loan applications.
The Zenka loan application form online is very easy and straightforward, you can apply and get a reply in less than 3 minutes. As soon as your application is approved, you will instantly get an alert on your phone through Mpesa within 5 minutes.
What makes Zenka Different from others?
The platform is more reliable and they don’t request any form of collateral or registration fees. Another one is that the loan application approval is very fast and everyone can easily access a higher loan amount.
The company has a referral program that gives its users the opportunity to invite new users and still make money from it. Whether you are owing them or not you can easily withdraw your referral bonus at any time you wish to.
Zenka uses the information gotten from your smartphone upon request to check your credit score and know if your credit score is good or poor.
If your credit is good you will be offered a loan opportunity, but if your credit score is poor, you will not be given the opportunity to obtain a loan from them.
Zenka Loan Application Form Online -Zenka Loan Eligibility and Requirements
Before applying for a loan on Zenka, unlike traditional banks, they are some requirements that you must meet up for you to obtain a loan from them.
As for Zenka, here are their requirements:
- National Identification Number
- Safaricom line registered with Mpesa.
To make it short, add the necessary details required from you and also include security questions to help secure your account. After which Zenka will go through your data and determine if you are eligible or not via your credit score.
How to Apply for Online Lone on Zenka
- Visit Zenka’s official website https://zenka.co.ke/
- Create your account to log on to zenka.co.ke.
- Specify the actual amount you wish to borrow (maximum of 3 months for new customers and up to 6 months for older customers).
- Complete your application form through their secure form.
- Provide your proof of income source (here you can provide your recent payslip or paystub or bank statement).
If your application is approved, your money will be disbursed to your bank account within 15 minutes.
- Open your Mpesa menu
- Select the Lipa na Mpesa option
- Click on pay bill
- Input 97988 as the business number
- Use your registered phone number as your account number.
- Enter the amount you want to repay
- Enter your Mpesa pin and authorize the transaction
- Wait for an SMS confirmation from Mpesa.
How do I check my Zenka limit?
You can simply confirm your loan limit by logging in to your Zenka loan account. As you log in, if you have a loan limit it will display on your profile.
How can I register for Zenka Loan via USSD code?
- Dial *841#
- Enter your PIN and select Apply for a loan
- They will display a notification showing your loan limit
- Select Apply for Full Limit or enter the actual amount you wish to obtain
- Select the repayment period and that’s all.
How long does Zenka take to process a loan?
After your application, Zenka will go through your data and credit score and finally process and send you the loan to you through Mpesa. This takes 5 minutes to be done.
Who is Eligible for Zenka Loan?
Once you are 18 years above and you have a National Identification Number or Card and a Safaricom sim card registered, you are eligible to borrow from Zenka.
Why is Zenka not giving me a loan?
You may have tried obtaining a loan from Zenka but it keeps saying Not eligible, probably the major cause of this is that you fail to provide the major requirements they requested from you or your credit score is poor.