The Zenka Loan App is one of the most downloaded mobile loan apps in Kenya. It’s very easy to check your loan limit and apply for a loan with the Zenka app. All you have to do is download the app from the Google Play Store for Android users or App Store for iPhone users, and complete a simple registration process.
You can even access the Zenka Loan services by dialing the USSD code *841#, particularly if you do not have a smartphone or internet connection.
For other mobile apps which support USSD code please have a look at USSD Codes for Mobile Loan Apps in Kenya.
Zenka Loan App Interest and Limit
Zenka loan app first-time users have access to 0% cost-free loan repayable in 61 months. This means if you borrow Ksh. 1,000, you only pay back what you borrowed, which is Ksh. 1,000.
Thereafter, you will pay Zenka loan one-time processing fee of 9% to 39% on your next 61 days loan.
Zenka loan app users can borrow from Ksh. 500 to Ksh. 20,000 with the possibility of increasing the loan limit up to the maximum of Ksh. 30,000.
USSD code users can borrow from Ksh. 500 to Khs. 10,000. Your loan limit depends on your credit history and the ability to repay the loan borrowed in time or early.
How to Apply for Zenka Loan
You can apply for a Zenka loan through the Zenka app or through the USSD code. Let’s look at the two ways of getting a loan from Zenka.
Applying for a Loan through the App
Step 1: Download Zenka App
- Download and install the Zenka Loan App Kenya from Google Play Store
- Open the app and grant it access to contacts, location, and SMS
- To register, fill in some basic information like your first name, second name, ID number, education level, source of income, net income, email, etc.
- Choose a security question and key in your answer
- Enter a 4 digit pin that will act as your password
- Read the terms and conditions and agree to proceed
- Enter the verification code you have received on your phone and press done
Once you successfully register and are logged into the app, your loan limit and interest rate will be displayed on the app. At this stage, you can now apply for a Zenka loan.
Step 2: Applying for a loan from the app
Follow these steps to apply for a loan from the Zenka app:
- Press on the Sign In menu (if not signed in already, otherwise go to step 4)
- Enter your mobile number (one registered on Zenka) and press Next
- Key in your PIN and press Sign In
- Choose the loan amount you wish to apply
- Select the repayment duration terms
- Wait for some time for the Zenka Finance team to evaluate your application
- If successful, you will receive your loan straight into your M-Pesa account.
Applying for a Loan through the USSD *841#
To apply for a loan via the Zenka USSD code:
- Dial the *841# on your MPesa line
- Enter your PIN to continue or select Register if not yet registered
- Select Apply for Loan
- Read and Approve the Zenka loan terms and conditions
- You will then see your loan limit on the screen
- Select the loan amount you wish to apply and then select the approve option
- You will receive the money straight in your M-Pesa
How to Reset a Forgotten Zenka PIN
If you have forgotten your PIN, you can follow these steps to reset it:
- Click Sign In and then enter your mobile number and press Next
- At the top of the screen press on forgot PIN
- Answer your Security Question and press next
- You will receive a reset PIN through SMS
- You can now sign in again but with the new PIN
- If you want to change the PIN, click on Menu below the screen, My Profile, and then Change PIN.
How to Repay Your Zenka Loan
One advantage of the Zenka Loan app is that you have the freedom to repay the loan up to 61 days. You can also extend the loan at a rate that depends on the duration of the extension.
Paying back your Zenka loan early can improve your loan history and increase your loan limit. Late repayment incurs a 1% penalty on the outstanding amount for each day that it is overdue.
You can repay your Zenka loan through the Zenka Business Number: 979988.
To repay your loan follow these simple steps:
- On your M-Pesa menu select Lipa na M-Pesa
- Select Pay Bill
- Enter 979988 as the Zenka pay bill number
- The Account number is the M-Pesa mobile number you registered with Zenka
- Enter the loan repayment amount
- Enter your M-Pesa pin
- Confirm your details are Okay then Send
Zenka App Permissions Required
To be able to apply for a loan through the Zenka app, you must first allow the app access to your location, contacts, and SMS messages. This is according to the finance company, which states that this information is used to assess your financial history and determine your loan limit.
It’s important to note that currently, the Zenka app and its USSD only support Safaricom MPesa users.
Zenka App Contacts
For Zenka care contacts please have a look at Zenka Loan Contacts for Customer Care.