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Stawika Loan Kenya



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Stawika Loan Kenya – Stawika Loan App is a cutting-edge mobile money lending platform, revolutionizing the way Kenyans access loans. Operated by Stawika Capital Limited, this app is specifically designed to cater to the needs of smartphone users in Kenya, offering a swift and hassle-free loan experience. visit How to Write an Application Letter for Zambia Police Recruitment

A quick overview of Stawika Loan Kenya

Stawika Loan Kenya is a digital lending platform offering fast and accessible loans to smartphone users in Kenya. Operated by Stawika Capital Limited, the app enables borrowers to obtain loans ranging from Ksh 500 to Ksh 70,000 directly into their M-PESA accounts. The interest rates vary from 7% to 21% per month, with a maximum annual percentage rate (APR) of 31%. Additionally, there are rollover fees for delayed payments. The loan repayment period spans from 61 to 90 days. To access these services, users need to download the Stawika Loan App from the Google Play Store, complete a registration process, and verify their phone numbers. The platform offers a straightforward loan application and repayment process, making it a convenient option for quick financial solutions in Kenya. seeIs Nomba legit?


Who Operates Stawika Loan App?

Owned by Stawika Capital Limited, this app is a beacon of financial flexibility, enabling users to obtain loans quickly and conveniently.

The requirements to apply for the Stawika Loan Kenya

To apply for a loan from Stawika Loan Kenya, potential borrowers need to meet certain requirements:

  1. Smartphone Access: You must have an Android smartphone, as the Stawika app is available for download from the Google Play Store.
  2. M-PESA Account: An active M-PESA account is crucial since loans are disbursed and repayments are made through this service.
  3. Kenyan Resident: Applicants should be residents of Kenya, as the service is tailored to the Kenyan market.
  4. Age Requirement: Borrowers need to be of legal age, typically 18 years or older, to enter into a financial agreement.
  5. Personal Identification: Valid identification is required for the verification process. This could include a National ID or a valid passport.
  6. Mobile Phone Number Verification: A working mobile phone number is essential, as it is used for account verification and communication.
  7. Registration and Account Creation: Completing the registration process in the Stawika app is necessary. This includes providing personal details and setting up your account.
  8. Credit Evaluation: Stawika may conduct a credit evaluation using the information provided during registration and other data sources to determine your loan limit.

These requirements are designed to ensure that the borrower is capable of repaying the loan and to maintain the integrity of the lending process. It’s advisable to check the latest requirements and updates directly from the Stawika app or their official website, as these criteria can change over time.

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What Stawika Offers: Loans, Interest Rates, and Limits

Stawika Loan Kenya offers a range of financial services designed to meet the diverse needs of its customers. Here’s a more detailed breakdown of what they offer:

Loan Range

  • Flexibility in Amount: Stawika provides a broad spectrum of loan amounts, ranging from as low as Ksh 500 to as high as Ksh 70,000. This range allows borrowers to choose an amount that best suits their immediate financial needs, whether it’s for small emergencies or more significant expenses.
  • Instant Disbursement: Once approved, the loan amount is quickly disbursed directly into the borrower’s M-PESA account, ensuring fast access to funds. see more on Jabali Foundation And Promotion

Interest Rates

  • Variable Rates: The interest rates on loans vary between 7% and 21% per month. This variation depends on several factors, including the loan amount, repayment history, and any promotional rates that may apply.
  • Annual Percentage Rate (APR): The maximum APR, which includes all interest and fees over a year, is capped at 31%. This rate gives borrowers a clear understanding of the total cost of the loan over a year.

Additional Charges

  • Rollover Fees: If a borrower is unable to repay the loan within the stipulated time, Stawika imposes a rollover fee. This fee is 10% of the loan amount, which adds to the total amount due. It’s a penalty for extending the loan beyond its original term.
  • Implication of Non-Payment: It’s important to note that failing to repay the loan on time not only incurs additional fees but can also impact the borrower’s credit score and future loan eligibility.

Loan Accessibility and Repayment

  • Easy Access Through Mobile App: Loans are accessed through the Stawika mobile app, making it convenient for borrowers to apply for and manage their loans.
  • Repayment Flexibility: The repayment of loans is structured to be flexible, with options to pay back through M-PESA, which is a widely used mobile money service in Kenya.

By offering these services, Stawika Loan Kenya aims to provide a convenient, fast, and reliable source of funds for individuals who need quick financial assistance. However, borrowers should carefully consider the terms and conditions, especially the interest rates and additional fees, to ensure they make informed financial decisions.

Step-by-Step Guide to Accessing the Stawika Loan kenya

  1. Downloading the App:
    • Locate the App: First, navigate to the Google Play Store on your Android smartphone.
    • Search and Download: Search for “Stawika Loan App” in the store. Once found, download and install it on your device. Ensure that you have a stable internet connection for a smooth download process.
  2. Registration Process:
    • Open the App: After installation, open the Stawika Loan App.
    • Fill in personal details: You will be prompted to enter personal details. This usually includes your full name, date of birth, National ID number, and perhaps your current address. It’s important to provide accurate information for successful registration.
    • Set Up Login Credentials: Create a username and password or set up any other required login credentials. This step is crucial for securing your account. see How to Bypass Mkopa Security on Samsung A01 and A10
  3. Phone number verification:
    • Enter Your Mobile Number: You will be asked to enter a mobile phone number. Make sure this is the number associated with your M-PESA account, as this will be used for loan disbursements and repayments.
    • Verification Code: After entering your number, the app will send a verification code via SMS.
    • Confirm Verification: Enter the received code in the app to verify your phone number. This step is essential for ensuring the security of your account and confirming that the number provided is valid and accessible.
  4. Account Activation:
    • Finalize the Setup: Once your phone number is verified, your account is essentially set up.
    • Explore the App: You can now explore the app to understand its features, including checking your loan limit, the interest rates, and repayment terms.

Additional Tips for Using Stawika Loan App

  • Ensure Compatibility: Make sure your smartphone meets the app’s system requirements for optimal performance.
  • Understand the Terms: Before applying for a loan, it’s advisable to read through the terms and conditions, so you’re fully aware of the obligations and costs involved.
  • Secure Your Account: Keep your login credentials confidential to prevent unauthorized access to your account.

How to Secure a Loan from Stawika kenya

Obtaining a loan is straightforward:

  1. Launch the Stawika app.
  2. Enter your secure PIN.
  3. Check your eligible loan limit.
  4. Apply for the loan, and receive funds directly in your M-PESA account.

Repaying Your Stawika Loan

Repayment terms range from 61 to 90 days. Follow these steps for repayment:

  1. Navigate to the M-PESA menu on your device.
  2. Choose ‘Lipa na Mpesa’.
  3. Enter Stawika’s Paybill number: 830685.
  4. Input the amount due.
  5. Confirm with your M-PESA PIN.

Need Assistance? Contact Stawika Help Center

For any queries or support, reach out through:

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