HiKash loan is a mobile lending platform for your quick loans. It is collateral free. Are you not interested in leaving the house or just don’t like bank stress? HiKash loans are ever ready to fund you in times of your immediate needs. You can apply for loans using your mobile phone and they won’t disappoint. They are here to serve you better.
There are more interesting things about Hikash loans. Read through.
Things you should know about HiKash loans
HiKash loans is one of the lending platforms that provides instant access to loans and flexible repayment duration for people who meet their eligibility criteria. When you have an excellent credit history, HiKash should be your best option. They require you to have an active M-Pesa mobile money account.
How much loan can you get using HiKash app
HiKash offers a minimum loan of Kshs. 700 and a maximum of Kshs. 30,000. You can get higher loan limits by maintaining an excellent credit history.
How to apply for Hikash loans
Getting a loan from the platform is pretty simple and funded directly to your mobile money account within 2 minutes once approved. You can get a HiKash loan through the following steps:
- Download the HiKash Loan App: This application is currently available for android users. Download it from Google Play store.
- Create an account with your personal details and your mobile money account.
- Once you create your account successfully and your registration confirmed, choose according to your loan limit and apply.
- Once your loan application gets approved, they would disburse your loan to your M-Pesa account.
Interest Rate for HilKash
HiKash charges an annual percentage rate of 16% and has no other hidden charges. Interest rates could differ in a case of late loan repayments.
To qualify for a loan, you must be a Kenyan Citizen and must be over 20 years old. They also recommend you maintain a good loan history to enable you to have access to loans.
The requirements are:
- A national ID Number
- Registered M-Pesa Number
- Android smartphone.
HiKash Loan App Reviews
Features of the loan app are:
- HiKash loan app offers easy access to loans.
- Loan approval process is pretty fast, hence improving the borrowing experience.
- Has 2.4 ratings on Google play store
- Has 78 reviews on Google play store
- A memory capacity of 5.2MB
- Over 10k downloads on Google play store
How long does loan disbursement take
Typically, you get your loan applications within 2 minutes once approved.
How to repay your HiKash loan
Kindly follow the repayment procedure available on the HiKash application to repay your loan. They recommend that you make repayments on time to enable you to maintain an excellent credit history and have more loan limits.
You can also repay your HiKash loan from M-Pesa using the following steps;
- Login to your M-Pesa account
- Click on “Lipan a M-Pesa” and select Paybill
- Enter 181169 as the Paybill number
- Enter the MPESA number registered with your Hikash loan.
- Input the amount you wish to repay.
- Allow the transaction with your M-Pesa transaction PIN
- Check for payment notifications
Also note that failure to repay a loan on time would affect your subsequent loan eligibility and further result in your profile being listed with the Credit Reference Bureau (CRB).
How to improve your HiKash credit limit
You improve your HiKash credit limit, make early repayment before or on the due date.
Features of HiKash loans
The three main features of this platform are:
- Fast loan approval and disbursement
- Long loaning periods, from 91 days to 365 days
- Easy loan application and high loan amount
Who can benefit from HiKash loans
The two strategic people who can benefit effectively from the platform are:
- Anybody in need of emergency fund.
- Citizens of Kenya in need of small loans for business.
How to contact Hilkash loans
To get in touch with HiKash, simply send an email to email@example.com or contacting their customer care through +254794896360.
You can also visit them at their office located along 623 Wood Avenue Plaza–9th floor Office Place in Nairobi.
HiKash is helpful to individuals and businesses who need access to instant loans. HiKash interest rate is competitive and also affordable. In conclusion, they work in these simple steps:
- Download the app from play store.
- Create an account and register with the right information.
- Wait for your registration approval
- Apply your loan according to your limits
- Try to pay back early inorder to earn a higher loan limit.