How To Apply and Repay Shika Mobile Loan Via Mpesa

This is a simple guide on how to apply for a loan from Shika App and how to repay it using Mpesa. This is one of the many mobile loan apps in Kenya which is owned by Alternative Circle, a fintech company located at Orbit Place in Westlands. The lending app has been in operation since March 2016 and currently has more than 50,000 downloads on Google Play.

Shika Loan Registration

All you need is a smartphone ( It must be running on Android KitKat 4.4 or higher)  a Kenyan Identification Card, and an MPESA registered phone number to start your loan application process. The first step is to download the app from Google Play then fill in the required information which will aid in the loan approval process. Shika will use your phone data i.e Mpesa statement messages and your current credit listing status (rating and score) at the Credit Reference Bureau to determine if you qualify for a loan.

Once you have finished the registration process, you will receive a notification with loan limit. After that, key in your phone number that was verified by Shika followed by your PIN and log in. Then enter the amount you want to borrow and request for a loan ( The amount must within your limit). You will receive an Mpesa message with the amount requested in less than 30 seconds. The least amount you can borrow from Shika is Ksh 500.

Shika Loan Interest Rates

Shika charges a facilitation fee of 15% for a period of 30 days on the amount of loan borrowed.

Shika Loan Penalties 

Failure to repay the amount borrowed within 30 days, a 10 %  late charge penalty will be applied to your loan. If the loan is not repaid within 60 days, the user will be listed at the Credit Reference Bureau (CRB). [irp posts=”5976″ name=”List Of Best Mobile Loan Apps in Kenya 2019″]

How To Repay Shika Loan Using Mpesa 

1. Go to your Mpesa Menu

2. Select Lipa na Mpesa

3. Select PayBill

4. Enter 811655 as the business number

5. Enter the phone number you registered with as your account number

6. Enter the amount you want to repay

7. Enter your Mpesa pin and press OK

8. You will receive a transaction confirmation message from Mpesa.

You will also receive a message from Shika stating that you have repaid your loan.

Shika Loan Contacts 

Phone: 0742 143999


You can also inbox them on Facebook or Twitter for faster help.

Offices: Orbit Place, 4th floor in Westlands, Nairobi.

Victor Matara

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