Bayes loan app is offered by Pi Capital Ltd. The mobile loan app is available on the Google Playstore and is accessible to all Kenyans and has over 100K+ downloads as well as a 4.1/5 star rating with 987 reviews.
Users can also access the service without downloading and installing the app by simply dialing *879*99#
To be able to use the Bayes app, one needs to own an android smartphone, be at least 18 years with a valid national ID and also be a registered Safaricom subscriber with a steady income.
In addition, users must also grant the app permission to access your phone data in order to further ascertain the user’s eligibility.
1.Download, install and launch the Bayes app.
2.Create an account by providing your personal details ( Full names as per ID, Date of birth, National ID, registered MPESA phone number, Gender, marital status, Email address, next of kin plus their phone number..etc )
3.Upon completion of the above and accepting the terms and conditions, you will receive an SMS containing your login PIN.
4.Use the PIN to login and choose your preferred loan products.
Bayes loan amounts range from Ksh 800 to a maximum of Ksh 30,000
Fee charges range from 5% to 15% depending on repayment duration i.e 14% ( 14 days ) and 24% ( 30 days )
Bayes offers repayment periods of 14 and 30 days depending on the loan type and amount.
To make a repayment, follow these steps:
1. Navigate to M-Pesa in your Safaricom menu on your phone
2. Select Lipa na M-PESA
3. Choose the Paybill option
4. Enter the Paybill number 599862
5. For account number, enter your M-Pesa number on which you registered with.
6. Enter your repayment amount
7. Enter your M-PESA pin
8. Confirm that all details are correct and press ‘OK’.
This app has access to:
- Phone- read phone status and identity
- Photos/Media/Files- read the contents of your USB storage and modify or delete the contents of your USB storage
Storage- read the contents of your USB storage and modify or delete the contents of your USB storage
- Camera- take pictures and videos
- Device ID & call information- read phone status and identity
- Receive data from Internet
- View network connections
- Full network access
- Run at startup
- Prevent device from sleeping
Loan overdues will result in your contact(s) being informed of your loan default and extended failure to repay will result in eventual blacklisting by CRB.
Any overpayment will be deposited in your Bayes wallet account.
REPAYMENT DATE EXTENSION
Official Website- http://www.bayes.co.ke/