Kuwazo loan app is offered by Kuwazo 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 4K+ reviews in the Playstore.
Kuwazo requires one to be over 18 years with a valid national ID, and be a Safaricom subscriber with frequent M-PESA usage.
Additionally, Kuwazo requires access to your phone data so as to build your credit score.
- Download, install and accept the necessary permission requests.
- Register to create an account and afterwards login with your credentials.
- Send a 6 month M-PESA statement as directed by the app.
- Borrow your qualified amount and receive money directly into your M-PESA.
Kuwazo offers a minimum loan amount of Ksh 500 and a maximum amount of Ksh 30,000 with each loan increment being dependent on a variety of factors including Kuwazo repayment history.
The interest rates range between 14% to 20% depending on the loan amount as well as the repayment terms i.e 14% ( 28 days ) , 15% ( 14 days ) and 20% ( 21 days )
The loan is repayable within 14 days, 21 days or 28 days.
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 149719
5. For account number, enter your M-Pesa number with 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:
- Camera- take pictures and videos
- Photos/Media/Files- read the contents of your USB storage and modify or delete the contents of your USB storage
- Phone- read phone status and identity
- Device ID & call information- read phone status and identity
- Storage- read the contents of your USB storage and modify or delete the contents of your USB storage
- receive data from Internet
- view network connections
- draw over other apps
- full network access
- prevent device from sleeping
Paying each installment by its due date allows you to access larger loan sizes. Late repayments will affect your ability to get subsequent or larger loans. If you are very late on your payments, we report to the Credit Reference Bureau (CRB). Blacklisting by the CRB may affect your ability to borrow from other lenders.
REPAYMENT DATE EXTENSION
Phone- 0745 660 345 / 0740 279 971