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Kashbean Loan Kenya

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Kashbean provides a fast and reliable mobile loan service that is specifically designed to help Kenyans who require financial help for their business growth or to meet financial requirements. Through Kashbean it is possible to access money at any time, from anywhere in Kenya that is directly transferred into your M-PESA account. Learn everything you have to learn about borrowing money from Kashbean.

Kashbean Loan Product Details

  • Loan Amount: KSh 1,000 – KSh 200,000
  • Time Limit for Loan up to 91 days the end of 365 days
  • Maximum Loan Limit: KSh 200,000
  • The Interest Rate (APR): Up 36% per year

Exemple CalculationFor an amount of KSh 20000, with a 91 day duration, the charges are according to:

  • Interest Rate Per Month: 36% / 12 = 3%
  • Interest per month: KSh 20,000 * 3% = KSh 600
  • Total Monthly Payment: KSh 20,000 / 3 + KSh 600 = KSh 7,266
  • Total Repayment (Principal + Interest): KSh 21,800

Kashbean has a fair cost that is based on the loan you take, including costs such as the assessment of your credit score as well as account management and the transaction fee.

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Why Choose Kashbean for Your Loan?

  • No credit check required Apply with no credit record.
  • Completely Digital Application A paperless experience on your mobile.
  • No collateral requirement: You may secure the loan with no pledge of assets.
  • 24-hour access You can request funds at any time and from anywhere.
  • Instant disbursement funds are sent to your M-PESA account in less than a minute after acceptance.
  • Flexible Payment Options Select the repayment plan that best suits your specific needs.
  • Growing Limit on Loans When your credit score rises and your credit score improves, so will your limit on loans.

Who is Eligible?

1. Kenyan Residency

  • Requirements The applicants need to meet the criteria of Kenyan residents.
  • The reason: Kashbean is designed specifically to cater specifically Kenyans providing locally-based financial services for both the needs of business and personal life. It is fully compatible with M-PESA that is extensively utilized throughout Kenya which makes it easier for people to obtain the loan and then repay it through an easy-to-use platform.
  • Documentation When you apply it is required to submit the National ID or other valid ID to confirm the status of your residence.

2. Age Requirement: 18 to 60 Years Old

  • Age Requirements: Atleast 18 years old.
    • The reason The applicant have to be adults of legal age in order to be eligible for credit, and those who are under the age of 18 generally are not qualified for credit. This minimum age guarantees that the applicant has reached the age of majority legally and are able to sign contract with a financial institution.
  • Maximum Age Age: 60 years old
    • The reason the upper threshold of age 60 was set to ensure a balance between creditworthiness with risk. As we approach retirement earnings and their ability to pay back loans may fluctuate as well, and so the age limit assures applicants that they can meet the loan obligation in a comfortable manner.
  • Verification Your information will include the date you were born when you register. Kashbean might ask you to provide additional documents, like an National ID, to confirm the validity of your age.

3. Source of Income and Ability to Repay

  • Income Requirement Candidates must prove the stability of their income.
    • Different types of income These be self-employment, employment businesses, self-employment, or any other sources of income that can be verified. Kashbean can be flexible in its different income sources, and caters to those who are salaried as well as entrepreneurs.
  • The reason it’s needed This obligation ensures that borrowers have the ability to make repayments within the time frame they have chosen. Regular income reduces the risk of default and demonstrates the ability of the borrower to handle debt in a responsible manner.
  • Verification When you apply for a loan, during the procedure, you’ll have to provide your income and your status in employment. This will help Kashbean decide on the right amount of loan to suit your needs.

Additional Tips for Eligibility

  1. Give accurate information Make sure that all data you enter during application are true and accurate. Incorrect information could cause rejection or problems in subsequent applications.
  2. Paying on time for loan If you’ve previously borrowed money from different platforms, be sure that they’re paid in the due date. An excellent track record will increase your odds of being approved as well as increase the loan amount.
  3. Keep a Good credit history The good news is that Kashbean doesn’t need a credit check but maintaining a favorable credit score with lenders could prove your financial commitment and boost your odds of approval for loans.

How to Apply for Kashbean Loan

For a loan application through the Kashbean mobile application, you must follow these steps in detail:

  1. Download the Kashbean App:
    • Start your Google Play Store on your Android phone.
    • Look up “Kashbean Loan.”
    • Tap “Install” to download and set up the application.
  2. Register an Account:
    • Launch the Kashbean application.
    • Enter your Safaricom phone number.
    • The One-Time Password (OTP) by SMS. Enter it in order to verify your account number.
    • Please provide your complete name exactly in the format that appears the top of the inside of National ID.
    • Enter your National ID number for verification.
  3. Provide Financial Information:
    • Fill in your monthly income information.
    • Please indicate your status in employment and your job.
    • Please provide details regarding your home neighborhood.
  4. Add Referees:
    • Provide contact details of one or two referees, like relatives or friends.
  5. Submit Your Application:
    • Examine all the details that you’ve submitted to confirm its authenticity.
    • Apply for your visa to be processed.
  6. Await Approval:
    • Kashbean will review your application and evaluate your creditworthiness.
    • If your loan is approved, you’ll receive an email with the maximum loan amount.
  7. Apply for a Loan:
    • Log into the Kashbean application.
    • You can choose the loan amount that falls that is within your limit.
    • Select a payment period that falls that is between 91-365 days.
    • Verify the terms of your loan and send your application.
  8. Receive Funds:
    • After approval, the loan amount will be credited directly into your M-PESA account. This usually happens within a matter of 15 minutes.
  9. Repay the Loan:
    • You can pay back your loan via the M-PESA Paybill Number 196184 with your registered telephone number as your account number.
    • Alternately, you can make use of the M-PESA Express feature inside the Kashbean app to make a payment.
    • Repayment on time can boost your credit score as well as increase your amount of loan.

NOTE Make sure you are connected to an internet connection that is stable throughout the process of applying. Being honest and complete will help facilitate an easier application procedure. If you need assistance, please call Kashbean’s Customer Service by an email address at [email protected] or through Kashbean’s online customer service.

How to Repay Your Loan

The process of repaying you Kashbean loan is easy:

  1. Pay using M-PESA’s Paybill 196184 by using the registered number of your phone as the account’s number, or utilize the M-PESA Express feature in the Kashbean application.
  2. Input the amount of your payment and the M-PESA PIN.
  3. Repayment on time can improve your credit score, and allow you to be eligible to borrow larger amounts.

Security and Data Privacy

Security and privacy of your data is a top priority here at Kashbean. The information we transfer to you is transmitted via an encrypted HTTPS connection, and protected with 128 bit SSL encryption. The data you provide us is not shared with anyone without your approval, with the exception of to lenders as required by our privacy guidelines.

Contact Us

If you’re looking for answers to concerns, questions, feedback or issues, please contact us at:

Kashbean will be there to help your financial progress with an affordable, reliable loan service. Begin today and enjoy the benefits of speedy safe loans through Kashbean!

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