This is a guide on how to apply and repay PesaZone mobile app loan via Mpesa as of 2020 in Kenya. PesaZone is one of the popular mobile loan apps in Kenya which is operated by PesaPro Limited. The online lender has been providing small unsecured loans since 2015. PesaZone currently has more than 100,000 downloads on Google Play.
With PesaZone, you can borrow a loan from as low as Ksh 200 to Ksh 25,000. You will the money via Mpesa once the loan has been processed. No paperwork, guarantors, security or office visits are required when applying for the loan. To get started, you need to download PesaZone app from Google Play. After downloading the app, you will be prompted to provide your identification details ( National ID number, Safaricom phone number, Name, Date of Birth and a 4 digit PIN) and permission to collect your personal phone data including SMS history. They will then determine your credit score based on the information you provided, this may include CRB (Credit Reference Bureau) reports and MPesa transactions history.
Once they have determined that you qualify for a loan, you will be prompted to pay a one-time nonrefundable activation fee of KSh 1 via M-Pesa. Your loan limit will then be displayed. As highlighted before, the highest loan amount from PesaZone is KSh 20,000.
Requesting a PesaZone Loan
Move the slider to adjust the amount, then pick the repayment period (e.g. 2 Weeks). The loan terms will then be displayed; this includes the weekly repayment amounts and the applicable weekly interest rate.
How to increase chances of qualifying for a loan from PesaZone for the first time
How To Repay PesaZone Loan Via Mpesa
1. Go to your Mpesa Menu
2. Select Lipa na Mpesa
3. Select Paybill
4. Enter 754285 as the business number
5.Enter the phone number you registered with as the Account number
6. Enter the amount you want to pay
7.Enter your Mpesa pin and press OK
8. You will receive a transaction confirmation message from Mpesa.
Please note that the loan should be repaid in line with the repayment instalments quoted on the loan terms, overdue loans will lead to penalties, CRB blacklisting and initiation of recovery measures by PesaZone. Always pay your loan on time to increase your borrowing limit.