Watu Credit is a niche asset finance company, that provides credit to Kenyans who want to purchase vehicles (motorcycles, Tuk-tuk, or cars) and devices. Over time, they have consistently re-invented themselves and worked to strengthen their market position.
This article explores how to apply for a Watu Credit Loan, the requirements, and how to repay Watu Credit Loans.
About Watu Credit
Watu Credit is a company that offers asset financing (motorcycles and three-wheelers) and group lending products (short-term and business loans). They lend primarily through mobile services. It is headquartered in Mombasa, Kenya.
How to Contact Watu Credit
To contact Watu Credit, you can use the following contact information;
Phone Numbers: +254 790 000 999 or +25 709 739 000, +254 719 111 000.
Email address: info@watucredit.com.
How to Apply for a Watu Credit Loan
- Visit their office or branch near you
- The team will guide you through the application process
- Once successful, select your repayment plan
- Get the asset and ride home.
What are the Requirements for one to get Financing from Watu?
To qualify for a loan at Watu, they require one to have::
- Valid National ID of both the Borrower and the guarantor
- KRA PIN Certificate
- Age 20 to 65 is the normal age. But from 18 to 19, must come with their parents.
- They require 1 Guarantor aged 20 years and above
- Need to make a down payment of Ksh. 10,000 for Motorbike financing and 50,000 for tuk-tuk financing
- A valid 6-month Safaricom phone number.
How Long Does it Take to Get My Motorbike/Tuk-tuk Once I Complete the Application?
It takes just 2 hours to apply and get a motorbike/tuk-tuk upon application. However, in case of unforeseen circumstances leading to delay, the front office officer guiding you will notify you of the date.
Does Watu Credit Offer Cash Loans?
Watu credit’s processes are automated. The company offers credit tailored towards helping people purchase Tuk-tuks and Boda Boda. Watu Credit specializes in asset financing. This means that they finance the purchase of 2 and 3-wheeler vehicles. So, Watu Credit does not offer cash loans per se.
To get a Boda boda through Watu Credit, you need to make a down payment of Ksh 20,000. The down payment for getting a Tuk-tuk is Ksh 50,000.
What is Watu’s Pay Bill Number for Weekly Repayments?
The official Watu pay bill number for weekly repayments is 650880. They do not accept cash payments.
How to Repay Watu Credit Loan
In repaying Watu Credit, follow the steps below:
- Login to your M-Pesa account
- Select Lipa na M-Pesa
- Choose pay bill
- Enter the pay bill number
- Use your phone number as your account number
- Input the amount you want to repay
- Cross-check all necessary details
- Press the submit option to submit it
- Get a message proving a successful repayment of your loan
Watu Credit Offices in Kenya
- Meru: Njuri Ncheke Street, Meru, Kenya
- Kitui: Kibwezi – Kitui Road
- Mombasa Road: Vision Plaza, Nairobi, Kenya
- Nakuru – Eldoret highway, Nakuru, Kenya
- B3 Road: Narok, Kenya
- Tengecha Lane: First Floor, Room 101, Kericho, Kenya.
- Silibwet Junction: Bomet, Kenya
- Pioneer Business Center: Kisumu Road, Eldoret, Kenya
- Jean-Marie Seroney Road: Kapsabet, Kenya
- Kitale: Mak Asembo Street, Kitale,Kenya
- Kisumu: Makasembo Rd, MURBS Building, Kisumu,Kenya
- Kakamega: Kisumu-Kakamega Road, Kakamega, Kenya
- Kisii: Kisumu Migori Road, Metro Hotel Ground Floor, Kisii, Kenya
- Bungoma: Opposite Bungoma Governor’s Office Gate, Bungoma, Kenya
- Voi: Car and General Voi, Voi, Kenya
- Mumias: Mumias musanda Road, Mumias, Kenya
- Migori: A1 Road, Migori, Kenya
- Homabay: A1 Road, Migori, Kenya
- Siaya: Ragama Building, Siaya, Kenya
- Malindi: B8 Road,Malindi, Kenya
- MbaleKaburu Complex: Maua, Kenya
Frequently Asked Questions
How do I check my balance on Watu?
There are two ways you can check your loan balance on Watu. The first is:
- By dialing *876# and following the instructions. Ensure you are using your registered phone number. Note that standard SMS/call rates charged by your mobile service provider may apply on checking the balance.
- You can visit any of Watu’s branches to check your balance or call 09011117770.
What is Watu credit Paybill number?
The Watu credit Paybill number for weekly payments is 650880. This paybill number is used through M-PESA, Tigo Pesa, and Airtel Money.
Conclusion
Watu Credit Limited is a micro-finance institute emerging as a specialised sustainable and inclusive finance. Part of their mission is also to share and contribute to the sustainable development of the economy.
They provide access to capital to the benefit of micro, small, and medium enterprises. In serving customers well they contribute a focused value, principles of independence, integrity, and transparency.