Branch has been operating in Kenya since 2015. Branch loan app is available in Kenya, India, Nigeria, and Tanzania and has over 10 million downloads and a 4.5 rating from over 640,000 reviews on Google’s Play Store, by the time of writing this article.
Branch loan app Kenya offers loans from Ksh. 250 to Ksh. 100,000 depending on the borrowing history and risk profile of the customer.
A new customer can make a Branch loan application online on the Branch app for loan terms between 28 days and 62 days. As you build your credit history, the borrowing period is adjusted up to 52 weeks ( 1 year).
Like other mobile loan apps in Kenya, Branch uses your location, contacts, M-Pesa, and text messages to help understand your trustworthiness and to set your loan limit, and decide whether to give you a loan or not.
If you find that you do not qualify for a branch loan, do not uninstall the app from your phone. Wait for some days and keep checking time after time, making sure that your credit history on CRB is clean, and that your M-Pesa messages are not deleted.
Branch Loan Interest Rates
Branch loan app interest rates range from 1.7% to 17.6% per month and majorly depend on the customer’s credit history and risk profile.