How To Pay Branch Loan Via Mpesa in Kenya 2021
Branch is an international mobile loaning app that offers fast loans to Kenyans and other international users. All you need to have is the mobile application on your android phone to get started. You can easily borrow and repay a branch loan on your phone using the Mpesa Paybill number provided by the company. In this piece of text, I’m going to take you through the process of how To Pay Branch Loan Via Mpesa 2021.
Branch loan app
The branch loan app is available on the Google play-store. Connected on a working internet, you can easily download and get to use the app. After a successful download, sign up to branch to become a user then apply for a loan. If qualified for a loan, you’ll receive the cash to your Mpesa sim card within a short span of time.
Branch loan app was introduced to the market by Branch International to lend loans to both bankers as well as non-bankers. You just have to be an eligible branch user with a clean loan repayment history, that’s all!
Branch Loan application requirements
However, the Branch loan app has to gain access and collect some personal data on your phone including your other loan profiles and identification details; before letting you apply for a loan. You are the one to give permission to the application for easy access and convenient use the Branch app. Note that late loan repayment on the Branch Loan App can lead to unsuccessful loan requests as well as being listed on the CRB.
For one to successful loan application, you’ll have to meet the following requisites:
- Android smartphone
- A registered and Mpesa-working Safaricom simcard
- Valid National Identification Number
- A clean Loan history on other lenders
With the above requirements, you’ll be able to enjoy Branch loan services in Kenyaas soon as you become a Branch user.
How to Apply for a branch loan app
Before hopping in to the application process, you basically need to have the Branch loan app installed on your phone.
Follow the procedure below to download the Branch app within a shake of the dick’s tail:
- Go to your phone’s Google Playstore application and search the ‘Branch loan app’
- Download and install the loan app on your phone
- After a successful installation, launch the application
As soon as you have the application working on your phone, it’s about time you get to do the registration as well as your loan application. Here’s the procedure you should follow when applying for a branch loan in Kenya today:
Time needed: 10 minutes.
How to Apply for a branch loan app
- Open the Branch app
- Add your phone number as well as security pin to log in to your account if already a Branch user. For new app users, add your phone number to sign up to Branch
- Fill in the registration form provided on the next page for Brabch to perform an identification review
- • Wait for Branch to give you a feedback
- Once you have the feedback and your acccount will either be valid or invalid. Account validation for an instant loan will depend on your Loan history by on other lenders
- A validated account will be redirected to the loan application page where new users will receive a maximum of Ksh.1000 and a minimum of Ksh.500
- Choose the amount of cash you want to borrow and the payment period then submit
- Wait for Branch to send you a message via SMS about your application merit
- If your loan application is approved, the amount of cash requested wil be reimbursed to your account within the next thirty minutes
After receiving the Branch loan, you’ll have to pay the loan on time to be eligible for your next loan. You can make your payment. You can make your loan branch loan payment using the Branch Safaricom paybill on your Mpesa or directly from your mobile app.
How to pay Branch loan through Mpesa paybill
- •Go to your Mpesa menu
- • Select the Lipa na Mpesa option and go to ‘Paybill’
- • Enter the Branch paybill number i.e. 998608 on the business number space
- • Enter your Safaricom Branch number you’re paying for as the account number
- • Input the amount of cash you’re paying for
- • Complete the transaction by entering your Mpesa pin and confirming the details
- Branch loan interests and limits
Ranging from a minimum of Ksh.250 to Ksh.70,000; Branch users can receive variant loan amounts and access different loan limits depending on their credit score. Long-time and responsible loan payers get a relatively better experience than other users.
This means that you can increase your loan limits by paying any active loans on time i.e. before the set deadline. Beyond early payment, you can occassionally apply for loans and getting to pay them as well to steadily increase your loan limit.
Branch loan intrests
Branch’s loan interest rates range from 10 to 27% making it an average of 17% loan interest per month. However, this may be altered due to factors like late payment and a low credit score. I believe you’ve mastered how to pay Branch loan via Mpesa 2021. For more information and guidelines, contact the Branch customer care unit through your app to get assistance.