Zenka Loan. How to register, download app, apply loan

April 18, 2023

Zenka loan app is the latest Kenya’s microloan lending app developed by Zenka Kenya. The app currently offers personal loans which range from Ksh 500 to Ksh 20,000 on android smartphone and Ksh 500 to Ksh 10,000 via USSD.

The best thing about the Zenka loan app is that the first loan is interest-free. That is to say; if you borrow Ksh 500 for the first time, you will repay the same amount. Isn’t that cool? In addition to that, you get to access and borrow a Zenka loan without using a smartphone.

So, we at Ralingo.com have carefully reviewed the app, and we can say with much confidence that it is the best loan app next to Tala loan. This conclusion comes after we checked the reviews on the Google Play store and customer feedback on their Facebook page.

Zenka Loan App: What’s Unique?

As I write, the first loan is for free – 0% commission and 0% interest. This is subject to change, of course. Here are other important facts you may want to know before proceeding with the application process:

The maximum loan limit on the Zenka app is Ksh. 20,000.
You can request additional loans until you reach your maximum limit.
You can extend the due date of your current loan if you don’t have money to repay when due.
Fast loan approval in 5 minutes, according to their website.
Repaying on time builds your credit and qualifies you for higher amounts.
Once approved, the money is sent to your M-Pesa account.

“Additional amounts are a flexible feature that allows you to top up your existing loan with extra cash, up to your current credit limit.”

Like any other micro mobile loan application, the app will request access to your device’s information, including GPS data, phone contact list, call log, and SMS log. Other information that may be required for subsequent loan approvals and adjustment of loan limits includes repayment history.

Zenka Loan App Download

Zenka finance, allows you to borrow money quickly and instantly through their mobile loan app. The borrowed amount is then delivered straight to your Mpesa account within a short time.

Zenka loan app works both on smartphones and ordinary phones via USSD by accessing your phone data such as phone type, SMS, call logs, airtime credit, among other things, as shown in the picture below.

This information is used to calculate your loan limit. So next time you’re out shopping for a new phone, choose wisely, you never know.

ALSO, READ iPesa Loan. How to register, download app, apply loan,repay loan and contacts

Zenka Loan Registration

Registration with Zenka is quite easy as compared to other mobile loan apps, all they need from you is to fill their online application form with your basic biodata such as your first and last name, National ID. Then, you have to answer a security question from the list of choices provided and lastly and more importantly, a 4-digit PIN. ( PIN YAKO SIRI YAKO

To register with Zenka on an Android smartphone

Open the Google play store to download and install the Zenka loan app on your phone or click here to access Playstore directly.
Open the app and select your loan amount and duration
Click on the “Apply for loan” menu button.
On the next screen, click on the “Sign up” button.
Here, enter your name and National ID number.
Choose a security question and enter your answer
Provide your 4-digit PIN and then, click on the link shown to read the Terms and Conditions for the loan.
Click on the “Agree and sign up” button
If successful, you will receive an SMS with a 4-digit verification code.
Enter the code and click “Done.”
You’re now good to go and can proceed with the loan application.

To register for Zenka loan via USSD, dial the USSD Code *841# and follow the system prompts.

How to apply for a loan on Zenka via USSD

Dial *841#
Enter your user PIN and select “Apply for a loan” option.
A notification will be displayed showing your loan limit
Select “Apply for Full Limit” or enter your desired loan amount.
Select the loan repayment period, and you’re done.

If the loan application is successful upon verification, the loan amount will be dispatched straight to your M-Pesa account.

How to Repay Zenka Loan Via USSD

Here is how to repay the Zenka loan.

Dial the *841# on your phone
Enter your secret 4-digit PIN.
Select the “Repay” menu option; your current loan balance will be displayed.
follow the system user prompts to complete payment
You will then receive an SMS notification, and your loan will be closed.

When you want to repay your loan, you can use the paybill number.

Zenka Paybill Number is 979988
Enter your phone number as the account number

Zenka Loan Application Tips for Approval

There are a few basics you can follow for fast approval of your mobile loan application. There are quite many loan apps in Kenya, including Pezesha, Tala, Stawi, Haraka, and many many more.

Some of these apps may have already blacklisted you or denied you a loan because of something you did. Here are essential tips for getting a Zenka loan approved easily and fast.

Make sure your name is cleared by Kenya’s credit reference bureaus. Zenka works with 3 of these in Kenya, including Metropol, TransUnion, and CreditInfo. If you’re listed here, you may not be approved for a loan on most loan apps in Kenya.
Use a device that has never been used before to apply for a loan from Zenka. Mobile loan companies store device information and associate them with the first registrant.
Build your credit score by paying your loan on time. This builds confidence, giving you access to higher loan amounts of up to Ksh. 20,000 on this app.
Ensure you allow access to your data when installing and registering. This allows the app to access vital information about you.

These tips are essential if you want a fast loan without collateral.

Does Zenka Have a Referral Program?

According to the app, you can earn Ksh. 200 when you invite friends. The qualification, however, is that you receive the credit whenever they repay their first loan on the app.

You’re given a promo code you can use to invite friends with. Once they use the promo code to sign up and request a loan, you become eligible for their referral rewards program. You could earn Ksh. 200 when they repay the loan.