Zash Loan is a mobile money lending app primarily operating in Kenya.
It provides instant loans to individuals who need financial assistance for various purposes such as growing their businesses, shopping, or handling emergencies.
The app is designed to offer a quick and easy registration process, making it accessible to a wide range of users.
Interests can be as high as 33% for 14 days. , so about 66% p.m. On testing this product, I requested a loan of KES 5000, and I was hit with KES 1650 interest for just 14 days.
This comes to 33% per 2 weeks.
These terms are nowhere close to what the app advertises on their Google Playstore page.
How to register and apply
Registering for Zash Loan is simple. Here are the steps:
- Download the Zash Loan app from Google Play Store
- Install it on your Android smartphone
- Open the app and click “Register”
- Enter your phone number and create a PIN
- Provide personal details like name and ID number
Your new limit will then be populated on the app’s dashboard
To apply for a loan:
- Log in to the app
- Select “Apply for Loan”
- Choose the loan amount and term
- Review the loan terms
- Confirm and submit your application
The app reviews applications quickly. If approved, the loan is sent to the user’s M-PESA account.
Loan Limits and Eligibility
Zash Loan offers loans from 500 KSH to 50,000 KSH. New users often start with smaller limits. The limit may increase over time.
Eligibility requirements:
- Must be a Kenyan resident
- Age 18-60 years old
- Have a valid Kenyan ID
- Own an M-PESA registered SIM card
- Have an active M-PESA account
The app uses various factors to decide loan eligibility. These may include credit score and repayment history. Users with good records may get higher limits.
Repayment process
Zash Loan makes repaying loans easy. Borrowers can use M-Pesa to send payments.
The process is simple:
- Open your M-Pesa menu
- Select “Lipa na M-Pesa”
- Choose “Paybill”
- Enter Zash Loan’s paybill number: 733555
- Use your phone number as the account number
- Enter the amount you want to repay
- Confirm and send
Customer assistance and feedback
Zash Loan offers support through multiple channels:
- Phone: +254 709462300
- WhatsApp: +254 111664262
- In-app chat
Customer service reps can help with:
- Loan applications
- Repayment issues
- Account questions