This piece examines the Branch loan app in Kenya, and I will cover everything there is to know about this particular mobile lender. I take the time to discuss the Branch Loan App in Kenya in detail and cover everything you need to know about it.
As a satisfied customer and borrower of Branch loan, I have taken it upon me to educate you on the Branch loan app in Kenya and how to use it. I hope that you find this piece useful to your financial needs.
Table of Contents
What exactly is a Branch Loan App in Kenya?
The Branch loan app in Kenya is a micro loan application optimized for mobile devices and available to people in Tanzania, Kenya, Nigeria, and India. Branch International is the company that developed and maintains the app.
The Branch micro lending application was made available to users in Kenya in 2015 and mainly relied on Safaricom M-Pesa to facilitate the delivery of loans to the app’s thousands of customers.
With 10M+ Downloads and installations on the Google Play, a 4.6 star rating and over 726K reviews Branch stands tall as one of the prominent emerging Fintech companies for developing countries especially in West Africa and parts of Asia. More growth is, of course, expected in the coming years.
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How to Install Branch loan App in Kenya
In order to receive the branch loan, you are required to get the Branch App from the Google Play Store and install it. You should never use an APK file for branch loan that you found on another website since it is possible that the file contains viruses that will compromise the safety of your phone.
The following is a rundown of the steps necessary to download and install the Branch loan app on your mobile device:
- Start by going to the Google Play Store.
- Look for a loan from the Branch. If you search for “Branch – Personal Finance App,” you should find one that is developed by Branch International.
- Select the Install tab and click (You should have enabled the internet to download)
- The download and installation process on your phone will take about two minutes to complete.
What follows next is the profile setup phase, which requires you to log on to Branch loan and setup your profile. This phase begins as soon as the app has been installed on your phone. This will be accomplished by providing an answer to the questions/steps asked by the app or required of you to follow in the app.
Providing complete, correct, and satisfactory answers to these questions can help you get a loan from Branch within a very short time. Below is what is required of you to obtain a loan from Branch in Kenya using the Branch loan app.
How To Setup Your Profile – Requirements and Steps
You only need the following things to get started using Branch:
- A mobile device, preferably an iPhone or an Android.
- A current and working account on Facebook.
- A Safaricom line that has an M-Pesa account
- Your National Identification (ID) number
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Once you’ve supplied the information above as well as your biodata and your contact/emergency details inside the branch loan app you just installed, you are on your way to getting a loan from Branch loan app in kenya.
However, it is important that you are aware of the interest rates charged by Branch for its loans. The section below shows this.
Branch Loan App in Kenya: Interest Rates
The Branch loan app in Kenya interest rates on loans might range anywhere from ten percent (10%) to twenty-seven percent (27%). This interest rate equates to a monthly interest rate of between 1 and 21 percent.
How to Request for a loan through the Branch
To submit an application for a loan through Branch, you must have the Branch App already installed and setup on your mobile device. In the prior section, I demonstrated how to download as well as how to setup your profile on the app.
This is how you can apply for a loan through the Branch loan app you’ve installed:
- Step 1: Locate and launch the Branch app on your mobile device.
- Step 2: After getting your phone number, create an account for yourself.
- Step 3: Now, fill out a straightforward form, which ought to take no more than a minute. On this form, you will be asked to provide your bio-information and natanal details such as your name, country, date of birth, and national identification number.
- Step 4: After you have finished filling out the form, click the “Submit” button to send it off for evaluation.
- Step 5: Once you have completed the previous steps of reviewing and creating your account, you will be brought to the loans page. You will see that every possible loan option is laid out here for your perusal. If this is your first time borrowing money, the sum will be Ksh 1000.
That is the procedure for obtaining a loan from the Branch loan app in Kenya. You will now be able to select the amount of money that you wish to borrow from here. If Branch is satisfied with the details you submitted, the money will be transferred to your M-Pesa account within a few minutes.
How to get a loan from branch loan app in kenya
Please, note ➡ : The only location to request for and receive the loan from Branch is through their (Branch) mobile app NOT their office, or any other third party. No agent is involved.
How Long Does it take to Process & Approve a Branch Loan Application?
As you can see, the process of getting accepted for financing does not take a very long time at all. The application procedure is straightforward and shouldn’t take more than five minutes to complete. If you everything correctly and branch is satisfied with the information that you supplied while setting up your profile and while applying for a loan, you should get your loan within that time frame.
After you have submitted your application for the loan, it could take anywhere from less than one minute to thirty minutes for them to finish the loan transaction and transfer it to M-Pesa.
Branch is a significantly speedier lender than other traditional options, such as banks, SACCOs, credit unions.
So, that’s it on how Branch loan app in Kenya works. I outlined for that you can get the Branch loan app from Google Playstore. I guess you can also get the app from the app stores for iOS devices like iPhone, iPad, iWatch, etc. To get a loan from faster from the branch loan app, ensure that you setup your profile on the loan app correctly. Be sincere and coherent with the information you provide.
Take note that Branch cahrges between ten percent (10%) to twenty-seven percent (27%) which equates to a monthly interest rate of between 1 and 21 percent. Getting a loan from Branch loan app in Kenya is fast so far as you do things right while setting up and requesting a loan from the app. I wish you the best of luck.