Saidia Loan App

C

Cassey Tash

Lister
Saidia offers a quick and small amount of loans to their customers from as low as Sh1000 to Sh50,000 depending with their credit score, the repayment period and listings with the CRBs.

The loans offered can be repaid between a period of 1month to 6month with an interest rate that ranges from 13% to 21% depending with the amount borrowed and repayment period.

A lateness fee of 10% is applied if an individual fails to repay their loans on time. This is after 60days of lateness.

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Requirements to access Saidia loans
  • An android smartphone
  • National Identification number
  • A registered Safaricom number
  • Internet access
How to get Saidia App
  • Go to google play store and search for Saidia Loan App
  • Select an item with an authentic Saidia logo
  • Click on install to allow the app to download.
  • Once it has fully downloaded, click on open to access the app
Saidia App will request an access your mobile data, phone number, contact list, text messages, location and photo, calendar, camera and phone identity. Once granted, you will give Saidia Loan App permission to call and send you a text message.

Proceed to registration by filling in the provided mandatory spaces. This include;
  • Your full names as they appear on National ID
  • National ID number
  • Date of Birth
  • Phone number
  • Your income and its source
  • Email address
A 4-digit confirmation code will be sent to the phone number that you have registered with, this allows the app to verify your information before granting you a loan.

How to get Saidia loans
  • Open the Saidia loan app on your phone
  • Click on get a loan
  • Select the amount you'd like to borrow
  • Select the loan period and click on submit
  • If the loan is approved, you will receive a confirmation message from Mpesa and Saidia
  • If rejected you will receive a message of the same from Saidia
Advantages of Saidia loans
  • Once approved, a customer receives loans to their phones within minutes of application
  • No presentation of several document apart from ID card to be granted a loan
  • No guarantor or collateral need to be granted a loan
Disadvantages of Saidia loans
  • Loans are offered at a high interest rate
  • If a loan is defaulted, a customer may be listed on CRBs
  • A lateness fee is added to the loan after the repayment days elapse
  • An individual receives several calls as a reminder about an outstanding loan(s)
How to repay Saidia Loans via MPesa
  • Go to SIM tool kit on your phone
  • Select Lipa Na Mpesa, the Paybill
  • Enter Saidia Paybill number - 854400
  • Enter your phone number as account number
  • Enter your mobile money PIN number and submit
 
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