How to register, apply and qualify for a zenka loan on APP and USSD

Need to apply for a quick cash loan that will be sent to your phone via mpesa, then you need to get the zenka loan app. You can easily and quickly apply for a loan directly from your mobile phone.

zenka app register apply qualify for a loan

 

One of the new loan apps in Kenya, zenka loan app, has become a very popular money lending source for emergency cash situations. It has over 1 million downloads of the zenka app on the android store in just one year! That’s crazy!

This shows that Zenka is lending money quickly and efficiently to many Kenyans. Especially if you need cash urgently and you don’t have security to offer for a loan.

 




 

 

So what makes Zenka so popular in Kenya?

Have you ever had a situation where you needed an instant loan? For example, your rent is due and the land lord is on your case seriously. Or, you are cooking for guests and your gas runs out without warning, na wageni wako sitting room wakingoja chai? Such situations call for quick easy loans that you can access directly on your mobile phone through mpesa.

That’s where Zenka loan app comes in, with its quick and easy loan application process; you can apply and qualify for a mobile loan quickly.

When it comes to Zenka, you can apply for the loan using a smartphone through the android app. Not only that, if you don’t have a smartphone you can use any phone, including a kabambe to apply for a loan using the USSD code #841*.

Steps you need to follow are downloading the zenka app, registering for a zenka account and finally applying for a zenka loan.

Here is how you apply for a zenka loan.

zenka app how to apply for a loan

How to apply for a zenka loan

The zenka loan app allows you to apply for a loan both on your android phone and also on your iOs apple phone. In addition to that, there is also another way users can apply for a loan without using a smartphone, by using the Zenka USSD number.

So no matter the mobile phone you have, whether a ‘kabambe / mulika mwizi‘, an android phone or an apple iOS phone, you can apply for a loan on Zenka.

We shall start with how you can apply for a zenka loan by following very simple steps on your android phone.

Steps on how to apply for a Zenka loan using the android app:

When applying for a Zenka loan, make sure you have downloaded the Zenka app and completed the zenka application process them follow these steps:

  1. Open the Zenka app.
  2. Press ‘sign in
  3. Confirm the mobile number then press next.
  4. Key in your 4-digit PIN and press sign in.
  5. You will see how much money you qualify for and the number of days to repay.
  6. Press ‘Apply now
  7. Confirm the loan summary details which include ‘Total amount‘, ‘Due date‘, ‘Next repayment‘, ‘number of installments‘ and ‘principal‘.
  8. Select ‘GET LOAN‘.
  9. Next, your application will be reviewed.
  10. You will then receive an SMS form zenka SMS number 40730 informing you that your loan is being processed.
  11. Finally your loan will be sent to you through m-pesa. This takes about 5 minutes.

That’s how you apply for a loan using the Zenka android app. To complete this zenka loan application process, there is no need to fill in a physical application form. Not only that, the loans are sent within five minutes to your m-pesa account.

If you do not have a smartphone, no need to worry. You can also apply for a loan using the Zenka loan USSD code.

The Zenka USSD service is available on all phones. This is because it uses the phone dialing feature where the uses dials the code *841#. The good thing about this phone dialing feature is that it is on every phone, unlike the apps which need android or iPhone iOS.

However, if downloading the zenka app is a hustle, you can use the zenka loan USSD code *841#. Here is how you can apply for a loan using the USSD no.

Follow the steps below to apply for a loan using the zenka USSD number.

Steps on how to apply for a zenka loan using zenka USSD code *841#

  • Dial *841# on your phone.
  • Next, enter your user PIN.
  • Select ‘Apply for full limit‘ or the amount you need.
  • Next, you will be shown how much you qualify for.
  • Select the loan amount you need.
  • Choose the loan repayment period and confirm.
  • Your loan will be sent directly to your phone on your mpesa account.

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Apply for a Zenka loan on apple iOS phone:

Zenka also have an app for iOS users. Once you download and install it on your phone, follow the same procedures for android users

To gain access to the Zenka mobile loan using the app, you first need to download the application from the google play store.

Follow the steps below to download the zenka app

 



How to download zenka loan app and install it on your phone

  1. Open the google play store on your phone.
  2. Type ‘zenka loan app‘ and press enter
  3. Select the ‘Zenka loan app’
  4. Press the ‘install‘ button.
  5. Select ‘accept‘ to agree to the access rights the app will have.
  6. Wait for the zenka app download to complete and it will install automatically.
  7. Next, press ‘open’.

You will now be able to use the app to apply and qualify for a loan after you have  registered for an account. The app when downloaded is 10 MB. However when zenka is fully installed with all its features, it uses about 90 MB of space.

If you are wondering how much space you need to install the zenka loan app on your phone, you must have at least 100 MB free space. Also make sure sure you have enough internet bundles, minimum 20 MB, or a stable wi-fi connection.

To apply for a zenka loan, you will first have to register for a zenka account. Then next, you will access the zenka app and begin applying for a loan.

Here we will take you step by step in requesting for a loan on Zenka loan app.

Register for a Zenka loan account on the app

  1. Open the Zenka loan app
  2. Next press ‘register‘ where it says ‘New customer? Register here:’
  3. Now, Enter your mobile number. 07** *** *** Note, zenka loan is only available to safaricom subscribers
  4. Press ‘next
  5. You will need to fill in your ‘basic information about you
  6. Start with your ‘first name‘, ‘last name‘ and ‘National ID‘ number.
  7. Next, you will need to fill in the ‘Tell us something more about you‘ section.
  8. Select your ‘education level‘ (Basic/Secondary, Vocational Training, Undergraduate, Post Graduate Diploma/Graduate), ‘source of income‘( Employed – Public sector, Employed – Private sector, Self-employed, unemployed, student), ‘net monthly income‘ (<20,000, 20,001 – 30,000, 30,0001 – 50,000, 50,0001 – 100,000, >100,000) and ‘email address‘.
  9. Next, you will need to secure your account by filling in the ‘help us secure your account‘ section.
  10. Start by selecting your security question. ‘What is your mother’s maiden name’, what town were you born in?, what high school did you go to?
  11. Then enter a 4-digit PIN where it says ‘create a 4-digit PIN’. Note, your PIN cannot be repeated numbers i.e. same number e.g. 1111 or numbers that follow each other e.g. 1234
  12. Enter promo code AJWBG
  13. Now press ‘AGREE AND SIGN UP’
  14. You will receive a confirmation SMS form Zenka confirming that ‘your registration was successful’
  15. Next, verify your mobile number using the SMS code sent to you by Zenka.
  16. Final step is to invite friends, but you can skip this step by pressing ‘No thanks’.
  17. You are now ready to apply for a Zenka loan.

Note: When you are filling in the zenka online registration form for your loan application, be sure to type in your name as it appears on the ID. Failure to do this will result in the app showing you an error saying the names do not match.

How to register for a zenka loan via USSD code *841#

Dial *841# on your phone.

Rights zenka needs to access on your phone:

The loan application process for Zenka is automated. However, to be able to do this, the mobile loan app requires to access a few rights on your mobile phone.

These are the rights that you need before you install zenka loan app.

  • Identity
  • Contacts
  • Location
  • SMS
  • Phone
  • WI-FI connection information
  • Device ID and call information

Loan repayment:

Once you have applied and qualified for the loan, you will need to repay the amount borrowed. Keep in mind that the amount you borrowed, if it is your first time, will not be charged any interest rate. And make sure you use the following promotion code AJWBG.

The loan repayment period for a Zenka loan is 61 days. This is normally done in two installments. The first installment is to be repaid after one month, that is the 1st 30 days. Then the second installment is to be paid before the 61 day deadline.

Repay Zenka loan using the app:

  1. Open the zenka app (make sure your data is connected)
  2. Press sign in.
  3. Confirm your account and press next (Zenka account is your Safaricom telephone number)
  4. Input your 4-digit PIN and press SIGN IN
  5. Select the REPAY NOW option
  6. Next select the amount you want to pay either ‘Full amount due‘ or ‘choose specific amount
  7. Press REPAY NOW
  8. Wait for the mpesa xpress screen to pop up.
  9. Next, Enter your m-pesa pin and press OK.
  10. Zenka will send you an SMS from 40730 confirming your loan payment.
  11. Your total amount due will be updated to reflect the total amount due.

That is how you repay your loan. One thing you should note is that Zenka has an interest rate on the money borrowed known as processing fee. Also, pay attention to [link: late fees]late fees and penalties that zenka charges to loans that are not repaid on time.

Steps on how to repay your zenka loan using USSD code

Zenka loan limit

If only banks and mobile loan apps could offer unlimited amounts of money! Wouldn’t that be something?

Unfortunately, that is not the case.

This also applies to the app, and that is why zenka has a loan limit. With zenka, the minimum amount you can apply for is Ksh 500. The maximum amount you can qualify for is 30,000.

Although, you should note that this depends on how you apply for a loan on the app. If you apply for a loan on the zenka app, the loan limits are Ksh 500 – Ksh 30,000. On the other hand, applying for a loan using zenka USSD code, the loan limits are Ksh 500 – ksh 10,000.

How do you grow your loan limit?

There are a number of ways you can grow your loan limit. However the most effective way of doing this by making sure you repay your loan on time, borrow as often as you can on the app and transacting often using m-pesa.

Repay zenka loans on time:

By making sure your Zenka loan is repaid on time, it indicates to the app that you are not a risk to lend money to. That means, you are a good borrower. Given the fact that the Zenka loan app doesn’t require you to give security when applying for their loans, the app uses advanced tech to create a financial profile of you. Making late payment for your loan indicates you are not a trusted borrower. Meaning your loan limit will not grow.

Borrow often on Zenka app:

The more you borrow and repay your loan from Zenka, the more you build your record with the app. This way, the app is able to create an accurate history of transactions. With more transactions, the more your limit grows.

Transact often on m-pesa:

Finally, make sure you transact often on mpesa. The reason for this is that one of the criteria Zenka uses to qualify you for a loan is checking your messages, especially m-pesa messages. As a result, the more you use m-pesa, the higher your chances are of growing your loan limit.

Zenka loan interest rate (processing fee)

When applying for a loan, most people are aware that the money lent comes with a fee on top called an interest rate. That is how companies and business institutions that give out loans make a return on their money.

So, does the zenka loan have an interest rate? Well, zenka charges a processing fee of between 9-29% for any amount borrowed. It is not categorized as an interest fee as such, but works the same way.

However, you will note that for people applying for a loan for the first time on the zenka lending platform, the first loan attracts no processing fee.

What this means is that you will apply for a loan and receive your money. When the time comes to repay the loan, normally after 61 days, the amount will attract 0% “interest rate”.

Loan repayment period:

When it comes to the loan repayment period for a zenka loan, the app offers you 61 days. Not only do you have to repay your loan in 61 days, but also you do this in 2 monthly installments.

The first repayment installment is to be done in 30 days. Once the first installment is paid, the next installment of your loan is to be done before the 61 days are over. Make sure you strictly follow this repayment schedule to avoid consequences of late loan payment.

Are you not able to repay your Zenka loan? Then no need to worry. You can get a loan extension for a small fee. Check the step by step guide below on how to apply for a Zenka loan extension.

How to apply for a Zenka loan extension:

  • Open the Zenka loan app (make sure you are connected to internet)
  • Press sign in.
  • Confirm your account and press next (Safaricom telephone number)
  • Input your 4-digit PIN and press SIGN IN
  • On the main app screen select ‘NEED MORE TIME TO REPAY‘ option
  • You will get options to extend your loan by either 7, 14 or 30 days. Each with a fee.

What penalty do you pay for late payment?

Sometimes things happen and you are in a fix with cash. This means you aren’t able to repay your loan.

So what is the Zenka loan penalty when you make a late payment of money borrowed? As a customer, zenka will charge a 1% penalty rate of the amount borrowed (principal) every day you don’t repay the loan.

They say kuomba harusi, kulipa matanga. With this in mind, make sure you repay your Zenka loan on time to avoid this 1% per day loan penalty. However, you can always request for a Zenka loan extension to buy time as you look for money to repay your loan.

Zenka Member get member – make money by inviting friends to borrow on zenka referral program:

The zenka member get member (MGM) is a referral program that allows you to invite friends to use the loan app. You do this by recommending zenka to other users by using a unique code. The code for saidia is AJWBG.

Now it’s up to your friends to use this unique code when they are registering their own Zenka account. This is after downloading and installing the Zenka app on their phone.

After the friend you invited applies for their 1st loan and repays it in full, you as the person who referred them to use the zenka app, will get a bonus amount in your Zenka account.

The loan app pays out a minimum amount of KES 200 in bonuses accumulated and only if five friends have applied and repaid their loans in full.

Once you receive the bonus in your zenka account, you can use it in the following ways; to pay of your outstanding loan with zenka or have the money sent to your mpesa account. Check out this guide by zenka about the member get member program terms and conditions.

Some of the popular celebrities who use zenka and apply the zenka member get member referral program are like jalangoo, mca tricky, pascal tokodi, Alex Mwakideu, Kamene Ngoro, Esther Chebet, Mwende Macharia and Billy Miya.

Video link Jalango Promo: https://instagram.com/p/B8s-x20FW5l/

Zenka contacts: Telephone number, email, twitter and facebook.

Having a challenge with the zenka app and need to contact customer care to assist you? Then you can do so by using this zenka contacts.

Telephone number: +2540207650878

Email address: [email protected]

Facebook page: Zenka Facebook.

Twitter page: @zenkafinance

Forgot your Zenka PIN? Here is how you can reset it. Follow this step by step guide below.

Steps on how to reset your zenka app PIN:

  1. Open the zenka app (make sure your data is connected)
  2. Press sign in.
  3. Confirm your account and press next (Safaricom telephone number)
  4. At the top right corner of the screen, select Forgot PIN
  5. You will be asked your [link: security question]security question.
  6. Input / type in the secret answer and press CONTINUE
  7. You will receive an SMS from Zenka with your new PIN
  8. Key in your PIN and access your Zenka account.

It’s good to note that for you to reset your Zenka PIN, you will need to type in the answer to the security question.

Zenka app security question

When you are registering for an account on the Zenka app, you will be asked to select a security question. This question is used as a backup in case you forget your PIN number.

You will normally do this under the help us secure your account section. Choose one question to answer from the 3 options which are;

  • What is your mother’s maiden name?
  • What town were you born in?
  • What high school did you go to?

Finally, make sure you note down your answer somewhere secure where you can easily refer to it if you need it.

Terms and conditions:

  • Here are the main terms and conditions for applying for a zenka loan:
  • There is a one-time processing fee of between 9-29% of the principal amount borrowed.
  • There is no minimum payment period, meaning you can repay the borrowed amount (principal) at any time after receiving the money (disbursement) to your m-pesa account.
  • Loans are only available to safaricom mobile users.

Conclusion:

 

Post Author: Timothy

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