Zenka is a mobile loan application developed by Zenka Finance Limited, a Kenyan Fintech firm. Zenka’s app, which launched in 2018, enables clients to borrow money with a single click on their mobile devices.
Zenka has been downloaded over 100,000 times on the Google Play Store since its launch. It currently has 58,000 reviews and a 4.0-star rating.
How Can I Use the Zenka Loan App to Apply for a Loan?
If you require money immediately and receive it a month later, will this work for you? Certainly not! This is what banks require of you.
This is the universe of mobile devices. Now, you may carry out all of your financial transactions using the small gadget in your palm. Who has time to wait in bank queues and have their credit evaluated? This is why Kenyans and Tanzanians choose the Zenka app.
Zenka is a very adaptable platform for resolving financial issues. Zenka Finance provides this application. Nairobi, Kenya is the location of the office.
You can meet your immediate financial obligations with instant money. We’d like to express our gratitude to the most accommodating lender, Zenka App. Continue reading to learn all about this’soft loan app’.
Requirements/Eligibility for the Zenka App
If you wish to use the Zenka loan application and request the loan amount online, you must adhere to the following requirements.
- You must be at least 18 years old.
- You must possess a valid national identification card.
- You must be a registered subscriber of Safaricom.
- You must authorize the app to access your phone’s data. It aids in their comprehension of you.
How to Download Zenka’s Loan Application?
The “Latest Zenka app” is as simple to download as any other free program on your Android or iOS device. Take the following steps…
- Visit the Google Play or Apple App Stores.
- Enter and search for the Zenka loan application.
- Install it on your mobile device by clicking the Install button.
- Maintain your app’s functionality by following the same procedure.
To get the latest version of the app’s apk, visit apkpure.com or uptodown and follow the procedures outlined above.
How to Get a Loan Using the Zenka App?
You now have the Zenka app installed on your phone. To apply for a quick loan, follow this application procedure…
- On the screen, a brief application form displays. Complete the form.
- Enter the loan amount you wish to obtain.
- Utilize the app to register. Following that, log in to Zenka.
- Your application will be assessed and accepted within a short period of time.
- After approval, the requested amount is credited to your M-Pesa account.
- If you require additional funds, you may utilise the additional amount feature.
What Are the Monetary Limits?
As a quick loan, Zenka app offers a minimum of KSh 500 and a maximum of KSh 30,000. This is determined by your previous repayments. Zenka allows you to receive the loan amount without adding complexity, whether you need a small or large amount.
Rates of Interest
Zenka charges one-time processing fees ranging from 9% to 30%.
Penalties for Late Payment
It is preferable to repay on time because it establishes a positive credit history. As a result, you will have more money when you need it in the future.
If you are unable to repay for any reason, you can extend the repayment period. The loan extension allows you to postpone the payback date for up to seven, fourteen, or thirty days. This provides a clear picture of how the Zenka App works.
However, if you fail to do so, you will be charged a 1% penalty rate on your outstanding debt. This will be done every day.
Period of Repayment
Zenka has a maximum repayment length of 61 days and a minimum repayment period of 1 day. It also allows ZenkaFlexi the option of repaying the sum over a 12-month period.
How Can I Raise the Zenka Loan Amount Limit?
Pay your bills on time because it will assist you build your profile and increase your credit limit.
How Can I Sign Up for the Zenka App?
Follow this registration step after installing the app to register with it.
- Launch the Zenka app.
- Enter the loan amount and press the ‘Apply For Loan’ button.
- Select the Signup option.
- On the next screen, carefully type your name and national ID number.
- Answer and remember the security question.
- Enter your four-digit PIN code.
- Please click on the link. Please carefully read the terms and conditions.
- After you’ve finished reading, click the Agree and Sign Up button.
- You receive an SMS with a four-digit code.
- Enter the same verification code and press the Done button.
How Can I Apply for a Zenka Loan Using Sms/ussd or Without a Smartphone?
You can apply for a loan using your mobile number offline. Take the following steps…
- Step) Using your phone, dial *841# or *483*101#.
- Step) Type in your four-digit PIN.
- Step) Verify the cost and term details.
- Step) Select any of the available terms that appeal to you.
- Step) Select the payment option.
- Step) Your SMS notification will arrive shortly.
Salary loans are advantageous for civil personnel.
Is Zenka Loan App secure?
Is my data safe with Zenka? Zenka employs cutting-edge encryption algorithms to ensure that your data is always 100 percent secure. Your information is never shared or sold to third parties, unless required for specific purposes such as reporting to authorised credit bureaus. For additional information, please see our Terms and Conditions.
How to Repay a Loan Using the Zenka App
- Launch the Zenka App.
- Scroll down and select the ‘Repay’ option.
- Then, choose a repayment method.
- Then click the ‘Repay’ option.
- You will receive a payment confirmation SMS once your payment has been processed.
How to Check the Balance of a Zenka Loan
Log in to your Zenka account to view your loan balance. There you will find information on your loan balance, fees, and due dates.
Contacts
Official website:- zenka.co.ke
Customer Care Number:- +254 (0) 207650878
Email address:- [email protected]
Fake web:- www.zenka loan app.com