Apply for Kashbean Loan Kenya upto ksh200,000

If you’re a Kenyan in need of quick financial assistance, Kashbean offers an easy and efficient mobile loan service to help you access funds for various needs, from business growth to personal expenses. Kashbean is an online lending platform that allows you to apply for a loan anytime and anywhere, all through your phone. Here’s everything you need to know about Kashbean loans, including loan types, eligibility criteria, and the simple application process.

Loan Products Offered by Kashbean

Kashbean provides flexible loan options tailored to suit different financial needs. Whether you’re planning to invest in your business, manage urgent bills, or cover other personal expenses, Kashbean has you covered.

Key Loan Features:

• Loan Amount: KSh 1,000 to KSh 200,000
• Loan Term: 91 days to 365 days
• Maximum Loan Limit: KSh 200,000
• Interest Rates: Maximum Annual Percentage Rate (APR) of 36% per year

Loan Example:

If you apply for a loan of KSh 20,000 for 91 days, the breakdown of your repayment will look like this:

• Monthly Interest Rate: 36% / 12 = 3%
• Monthly Interest: KSh 20,000 * 3% = KSh 600
• Total Monthly Repayment: KSh 20,000 / 3 + KSh 600 = KSh 7,266

Total Repayment (Including Principal and Interest):

• Total Repayment: KSh 20,000 + KSh 1,800 = KSh 21,800

Why Choose Kashbean?

Kashbean offers a convenient and customer-friendly experience, making it an ideal choice for anyone in need of quick financial solutions.

1. No Credit Report Required: Unlike traditional banks, Kashbean doesn’t require a credit report to approve loans.
2. Paperless and Digital: The entire process is mobile-based, which means no paperwork and a quicker application.
3. No Collateral Needed: You don’t need to provide collateral to secure a loan.
4. 24/7 Access to Loans: Apply for a loan anytime, anywhere, and receive funds directly to your M-Pesa account within minutes after approval.
5. Flexible Repayment: Enjoy flexible payment options that fit your financial situation. Your loan repayment options will improve as you build a good credit history.

Eligibility Criteria

Kashbean offers an easy and accessible way for Kenyans to get loans for personal, business, or other financial needs. However, before you apply for a loan through Kashbean, it’s important to ensure that you meet the eligibility criteria. Here’s a breakdown of the main requirements:

1. Kenyan Residency

To qualify for a loan from Kashbean, you must be a resident of Kenya. This is one of the fundamental requirements, as Kashbean provides its services exclusively to Kenyan citizens and residents. This ensures that the company is operating within the legal framework of the country and is able to follow local regulations concerning loan disbursement and repayment.

2. Age Requirement

Kashbean loans are available to individuals aged between 18 and 60 years old. This age range ensures that applicants are legally adults (18 and above) and likely to have the financial maturity to manage a loan. Additionally, individuals within this age range are generally expected to be in the workforce, either employed or self-employed, which is a key factor in the next requirement.

3. Stable Income

One of the most important criteria for qualifying for a Kashbean loan is having a stable income. Kashbean needs to ensure that you have a regular and reliable income source, whether you are employed or self-employed. This income must be sufficient to support your loan repayments.

Kashbean assesses your financial ability to repay the loan within the agreed period. Having a consistent income stream makes you eligible for higher loan amounts and longer repayment terms. The company typically asks for details regarding your source of income during the loan application process, which could include your employment status, salary, or business income.

4. Ability to Repay

Finally, your ability to repay the loan is critical. Kashbean will look at factors like your income, past financial behavior (including any previous loans or credit obligations), and your current financial situation to ensure that you can meet the repayment schedule without significant financial strain.

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How to Apply for a Kashbean Loan

Applying for a loan through Kashbean is quick and hassle-free, designed to get you the financial assistance you need in no time. Here’s a breakdown of the easy steps you need to follow to apply for a loan:

1. Download the Kashbean App

To get started, you’ll first need to download the Kashbean app. It’s available for both Android and iOS devices, so head over to the Google Play Store or App Store, search for “Kashbean,” and install the app on your phone.

2. Sign Up

Once the app is installed, open it to create your account. You’ll be asked to provide some basic information, such as:

• Your name
• Phone number
• Email address
• Other relevant details like ID number or address might also be requested for verification purposes.

This information is necessary to set up your profile and allow Kashbean to assess your eligibility for a loan.

3. Apply for a Loan

Once registered, you can move to the loan application stage. In the app, you’ll be able to:

• Select the loan amount you want to borrow (ranging from KSh 1,000 to KSh 200,000).
• Choose the repayment period that works best for you (from 91 days to 365 days).

Take your time to review your options and ensure that the loan amount and repayment term align with your financial needs.

4. Submit the Application

After entering the required loan details, you can submit your application for review. Kashbean’s system will assess your request based on the information provided.

During this process, Kashbean may carry out a basic credit check (without requiring a formal credit report), assess your financial history, and determine your eligibility.

5. Approval and Disbursement

Once your loan is approved, the funds will be disbursed directly to your M-Pesa account. Typically, this happens within minutes, so you can access your loan almost immediately.

Repayment Methods

Kashbean makes it easy to repay your loan. You can pay through M-Pesa using the following methods:

• M-Pesa Paybill: Use Paybill number 196184 and the account number will be your registered M-Pesa phone number.
• M-Pesa Express: Repay directly through the M-Pesa app for convenience.

Tip: Timely repayments will not only help you maintain a good credit score but also increase your chances of being approved for larger loans in the future.

Secure and Transparent Service

Kashbean takes data security seriously. All personal information shared during the loan application process is encrypted to protect your privacy. You can trust that your data is secure, and we will never share it with third parties unless you give consent.

Conclusion: Is Kashbean the Right Choice for You?

Kashbean offers an accessible, secure, and fast loan service for Kenyan citizens. Whether you’re managing an emergency or investing in your business, Kashbean’s competitive interest rates and flexible repayment plans provide a reliable financial solution. By following the simple steps for application and meeting the eligibility requirements, you can access the funds you need quickly and efficiently.