FairKash+ Loans
Free
In Kenya V 4.0.2
5.0 (1 million +)
Security Status
for Android
for Android
Free
In Kenya V 4.0.2
5.0 (1 million +)
Security Status
Kenya has a thriving online loan market, and with the introduction of mobile money transfers, getting access to loans has become increasingly accessible. One of the most convenient ways to get an online loan in Kenya is through a mobile app. However, before you can apply for an online loan, there are certain documents that you need to provide. In this article, we will explore the documents required to apply for a Kenyan online loan app.
1. National ID Card
A national ID card is the most important document needed when applying for an online loan in Kenya. It serves as proof of identity and provides lenders with your personal details such as your full name, date of birth, and address. Without a national ID card, it is impossible to apply for an online loan.
2. Mobile Phone Number
Since online loans are mainly accessed through mobile apps, you need to have a functioning phone number. The phone number serves as a means of communication between you and the lender. Additionally, some online loan apps require a phone number registered under your name to verify your identity.
3. Bank Statement
Most online loan providers require a bank statement to assess your creditworthiness. A bank statement shows your income, expenses, and overall spending habits. It helps lenders determine if you have the ability to repay the loan. Some lenders also require a minimum amount of transactions in the bank statement.
4. Payslips
Free
In Kenya V 4.0.2
5.0 (1 million +)
Security Status
for Android
If you are employed, you may be required to provide payslips as proof of income. It shows how much you earn every month and helps the lender determine if you can afford to repay the loan. Some lenders may require a minimum level of income to qualify for their loans.
5. Business Registration Certificate
For business owners, a business registration certificate may be required. It serves as proof that you own a business and outlines the nature of your business. It helps lenders determine if your business has the potential to generate enough revenue to repay the loan.
6. Collateral
Some online loan providers may require collateral in the form of assets such as land, vehicles, or property. Collateral serves as security for the lender in case you default on the loan. It helps reduce the risk of lending and may result in lower interest rates.
In conclusion, applying for an online loan in Kenya requires a combination of personal identification documents, financial documents, and in some cases, collateral. National ID cards, mobile phone numbers, bank statements, payslips, business registration certificates, and collateral are some of the documents required to apply for a Kenyan online loan app. It is important to have all the necessary documentation ready before applying for an online loan.
Free
In Kenya V 4.0.2
5.0 (1 million +)
Security Status
for Android
for Android
Free
In Kenya V 4.0.2
5.0 (1 million +)
Security Status
FairKash+ is approved by the Central Bank of Kenya. Download and use it.
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Contact：+254 796383534
