UbaPesa lending and borrowing app

UbaPesa Loan App: How to Download and Apply Loan

UbaPesa is a peer-to-peer lending and borrowing app that connects borrowers with lenders in Kenya through the money market platform. Once you have downloaded and installed the UbaPesa loan app, you automatically become both a lender and a borrower. You can borrow loans between Ksh. 500 to Ksh. 70,000 depending on your CRB rating and risk profile.

The interest rates charged by UbaPesa range from 8% to 14%, depending on the loan repayment term, usually from 1 day to 30 days.

Lenders can invest up to Ksh. 140,000 on the UbaPesa money market and earn 42.5% of the interest the borrowers repay.

UbaPesa is among Kenya’s best M-Pesa loan apps that will offer you instant loans without paperwork and activation charges.

How to Download UbaPesa Loan App

UbaPesa is currently only available for Android smartphone users. To install the app:

  • Open Google Play Store
  • Search for UbaPesa app
  • Tap Install, to download and install the app
  • Next, open the app
  • Allow the app to access your location
  • Tap on Sign up
  • Enter your personal information like phone number and name
  • Verify your phone number and set up a secure PIN
  • You have successfully registered an account on UbaPesa app

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How to Borrow a Loan on UbaPesa App

UbaPesa loan borrowing steps
An infographic showing simplied UbaPesa loan borrowing steps.

You can borrow as low as Ksh. 500 to a maximum limit of Ksh. 70,000, depending on your creditworthiness. UbaPesa relies on CRB score to calculate your loan limit.

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Follow these steps to request for a loan from UbaPesa:

  • Open the app and log in with your PIN
  • The app will display your CRB rating and credit limit
  • Open the Money Market menu
  • Enter the amount you wish to borrow
  • Select the repayment period
  • Confirm the interest rate charged and complete the application
  • The loan will be deposited directly into your M-Pesa account, minus the charges

How to Repay UbaPesa Loan

You can repay the loan directly from the app or through Lipa na M-Pesa paybill number 144966.

Repay the Loan through the App

  • Log in to the app
  • Tap on Repay Loan
  • Select through M-Pesa
  • M-Pesa popup menu will open on your screen
  • Enter the amount you want to repay
  • Enter your M-Pesa PIN
  • Confirm and send to complete the transaction
  • You will receive a message from UbaPesa confirming the loan repayment

Repay the Loan through M-Pesa Paybill

  • Openn the M-Pesa menu
  • Select Lip na M-Pesa
  • Select Paybill
  • Enter the UbaPesa Business number 144966
  • For Account number, enter the phone number registered on UbaPesa
  • Enter the loan amount you want to repay
  • Enter your M-Pesa PIN
  • Confirm the details and send
  • UbaPesa will send you an SMS confirming the loan repayment
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To confirm the repayment, log in to UbaPesa and press the repay loan button to refresh the loan status details.

How to Make Money on UbaPesa

UbaPesa gives you an opportunity to lend money ready borrowers in the Money Market and earn interest once the borrowers repay the money. This means you can invest on UbaPesa and make a profit. If a borrower does not repay the money loaned, you will get your money back after 60 days.

You will earn 42.5% of the interest paid by the borrower. UbaPesa will retain 57.5% to cater for insurance, taxes and other platform charges.

Before lending on UbaPesa, you first need to deposit some capital (not more than Ksh 140,0000).

To deposit money into your UbaPesa account:

  • Open the M-Pesa menu.
  • Select Lipa na Mpesa
  • Select Paybill
  • Enter 144966 as UbaPesa Business number
  • Enter the Account number (your phone number registered on UbaPesa)
  • Next, enter the amount you want to deposit to UbaPesa
  • Enter M-Pesa PIN
  • Confirm the details and send to complete the transaction

How to Lend on UbaPesa

Now that you have loaded money into your UbaPesa account, you can go ahead and lend to borrowers. There are two ways of lending on UbaPesa. You can let the app automatically pick a borrower for you marching your repayment duration, amount requested and credit score.

You can also manually pick a borrower from the app irrespective of your conditions already set. You can decide to go for single lending or multi-lending.

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Single lending lets you lend money to one person and wait for repayment before lending to another person.

In multi-lending, you can lend to a number of borrowers as you wish depending on how much money you have in your account. You can wait for them to repay or you can deposit more principal and continue lending.

Here’s how to lend on the UbaPesa app:

  • Open the app
  • Log in to your account with your PIN
  • Go to the Money Market menu
  • To be a lender, choose Give a Loan

How to Withdraw from UbaPesa

To withdraw your profits from the UbaPesa Money Market:

  • Log in to UbaPesa with your PIN
  • Go to Money Market
  • Select withdraw money
  • Enter the amount you wish to withdraw
  • Enter your UbaPesa PIN
  • The money will be sent to your M-Pesa account after a short while

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