OkoaMia is a loan service offered by OkoaMia Ventures. The service is accessible to all Kenyans via the Safaricom network.
To access the service, dial *628#
To be eligible for the service, one needs to meet the below criteria.
- Must be 18 years and above.
- Must have a valid national ID.
- Must be a Safaricom M-PESA subscriber.
- Must pass the OkoaMia CRB test.
- Dial *628# and follow the prompts through to borrow menu option.
- Send Ksh 5 to paybill 519608 and use your ID number as the account name and you immediately receive your Ksh 100 loan.
The loan amounts offered range from as low as Ksh 100 to a maximum of Ksh 900.
OkoaMia loan attracts an interest of 10% on the value of the principal applied for and a Ksh 15 transaction cost.
The borrower is to pay the credit advance in full within 5 days from the date of issue.
Dial *628# and choose option one (1) – pay loan. Follow the prompts that follow to complete your loan repayment process.
- Go to your Safaricom menu and select M-Pesa
- From your M-Pesa menu select Lipa na M-Pesa
- Select the Pay Bill option
- Enter the business number 519608
- Enter your registered phone number or ID number as the account number
- Enter your payment amount
- Enter your M-Pesa PIN
- Confirm that all details are correct and press \’OK\’
In the unfortunate event that you do not pay on time as per the agreed terms, a penalty of Ksh 20 to Ksh 180 per day is applied on loans ranging from Ksh 100 – Ksh 900 until the completion date; additionally, you risk being adversely listed on the CRB.
REPAYMENT DATE EXTENSION
Tel: 0707 000 222