Tala is a mobile phone loaning app thag offers quick loans to Kenyan Safaricom users. For one to qualify for a Tala loan, you have to be a registered Safaricom user with a clean loan history. On your loan application, you’ll select the amount of money yo need to borrow and the payday as well. Hereby, I’ll show you how to Repay Tala Loan Through Mpesa 2021. Tala loan app is available for all Kenyans on Google playstore and has more than five million downloads. This application has a user star rating of above 4.5 and more than 370 customer reviews from its app users.
Requirements for one to receive a Tala loan
- A valid National Identification number
- An android mobile phone
- Verification code usually sent to your phone through SMS.
If one has all the above requirements, sign up for a Tala account and fill in the application form. After the application process, you will receive the total borrowed cash amount if you’re eligible.
Loan Limits and Interest rates
Depending on your loan borrowing history on this app, you’ll be able fo access diiferent loan limits. Ranging from ksh.500 to ksh. 30,000; a Tala user will be eligible for a higher loan amount if they’ve been borrowing and paying loans on the app on time. The repayment period for Tala loans is either thirty days or twenty one days depending on the choice you prefer. You can make this payment once and for all or do it in installments as long as you beat the set deadline for your repayment. The application even gives a seven day grace period after the deadline for one to complete their payment as soon as they can.
You can increase your loan limits by paying your active loans on time and occasionally borrowing cash from Tala. By the end if this articke, you’ll have mastered how to repay Tala Loan through Mpesa 2021. This will increase your footage on their system thus making you a prioritized client.
- Bronze level loan limit ranges from Ksh.499 to Ksh.4,999.
- Silver level loan limit ranges from Ksh.4,999 to Ksh.9,999.
- Gold level loan limit ranging from Ksh.10,000 to Ksh.50,000.
How to apply for a Tala loan in Kenya today
For you to apply for a Tala loan, you need to have a Tala account. Tala users jus have to log in to their accounts and request for the next loan if the previous one is already paid. If you are trying to get a loan on Tala for the first time, you’ll have to visit your playstore and download the Tala app. Install the application on your phone to move on to the application process. Sign up by filling in the required data and answering the questions asked in every step. You will be required to provide your registered Safaricom number and other identification personal data as well.
After prompting and allowing several permissions for Tala on your phone, you’ll be redirecter to the loan application page. Select the amount of cash you want to borrow and choose your payday as well. Within 5 minutes, Tala will respond via sms and on the Tala app notification too to tell you if you’ve qualified for the loan yet. If you’ve qualified, you’ll receive the cash directly to your Mpesa on the Safaricom simcard.
How to Repay Tala Loan Through Mpesa 2021
How to Repay Tala Loan Through Mpesa 2021
- Go to your Mpesa menu and select Lipa na Mpesa
- Select ‘Paybill’
- On the business number space, fill 851900
- Add your Tala phone number on the account number space
- Enter the amount of cash you’re paying
- Complete the process by entering your pin and confirming the transaction
Upon completion of the payment process, you’ll receive a notification on your tala app to confirm the payment as well as an SMS on your number. Note that late payments will lead to an inability to inquire about loans, low loan limits, and a low credit score. Non-payment of Tala loans will have you listed on the CRB list and the Tala blacklist as well.
You may even be reported to higher authorities thus incurring punishment fees and fines. I believe by now you have mastered how to repay Tala loan through Mpesa 2021. Download the app on play store today to access Tala loan app services and enjoy their short term and long-term loan lending as well.