Cassey Tash
Lister
Zenka is a loan application that allows its customer to borrow soft loans from Sh500 to 30,000 straight to their phones depending on individual's limits and credit scores with the CRBs available in Kenya.
Zenka customers can increase loan limits by repaying their outstanding loans on time and borrowing from the app severally. Loan limit can decrease if a borrower delays to repay their loan on time or default. This may lead to being listed with CRB or denied loans in future.
Once a loan is approved, a borrower is given upto 61days to repay the outstanding amount.
Unlike other loan apps, Zenka allows its customer to extend a repayment period if they don't have the a full amount to repay their loans.
An individual can extended a repayment date for a further 7days, 14days and 30days at fee according to their outstanding loan amount.
Requirements to access Zenka loans
Advantages of Zenka loans
Zenka customers can increase loan limits by repaying their outstanding loans on time and borrowing from the app severally. Loan limit can decrease if a borrower delays to repay their loan on time or default. This may lead to being listed with CRB or denied loans in future.
Once a loan is approved, a borrower is given upto 61days to repay the outstanding amount.
Unlike other loan apps, Zenka allows its customer to extend a repayment period if they don't have the a full amount to repay their loans.
An individual can extended a repayment date for a further 7days, 14days and 30days at fee according to their outstanding loan amount.
Requirements to access Zenka loans
- A smartphone - Android
- National Identity number
- Registered Safaricom line
- Internet access
- Visit google play store and search for Zenka
- Select the one with an authentic Zenka logo and click install
- Once it has completely downloaded, tap on open to access the app
- On the app's home page, click on sign up to proceed to registration
- Enter your name( as it appears on your ID), phone number and National Identity number
- Choose a security question and an answer that you will remember ( This will help in recovering your account in future)
- Input a 4- digit PIN for security purposes
- Read the terms and conditions provide, then click on 'Agree'
- Once you have agreed to the terms and conditions, you will receive a confirmation code, the code should autofil on the app, if it doesn't, fill it manual and click 'Done'
Advantages of Zenka loans
- A customer can extend their loan repayment to a later date.
- Money is received to an individual's Mpesa within minutes
- No long queues and questions to get a loan
- No presentation of a guarantor or collateral to get a loan
- High interest rates - commission fees starts at 5% depending with the amount you borrowed
- If a loan is defaulted, an individual risks being listed on CRB
- On an event that a borrowers, doesn't pay their loan on time nor extend the repayment period, Zenka team make several calls as a reminder for payment
- Go to Mpesa SIM tool kit on your phone
- Select Lipa Na Mpesa, the click on Paybill
- Enter Zenka Paybill number - 979988
- Enter your account number - your registered phone number
- Enter amount you wish to pay
- Enter your mobile money PIN number
- Confirm then send
- You will receive a confirmation message from both Mpesa and Zenka
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