Pezesha loan app is offered by Pezesha Africa Ltd. The mobile loan app is available on the Apple Store and Google Playstore. It is accessible to all Kenyans and has over 50K+ downloads as well as a 3.3/5 star rating with 800+ reviews in the Playstore.
Analog phone users can access the service through texting “pezesha” to 22235
To be able to use the Pezesha app, one needs to own a phone, be at least 18 years with a valid National ID and also be a registered Safaricom subscriber.
Download, install and launch the Pezesha app.
Begin the registration process by providing your personal details including: full names as per national ID, phone number, national ID number, specify your account type ( borrower/lender)
For borrowers, you are required to select your referral source, provide your date of birth as well as create a password for future logins.
For lenders, you are required to select your referral source, email address, KRA PIN as well as create a password for future logins.
Accept the Terms and click on ‘Register’ whereby a verification code will be sent via SMS that will be used to verify your number.
Login once again, and upload your MPESA statement for the recent period of 6-12 months.
Pezesha loan amounts range from Ksh 500 to a maximum of Ksh 20,000 with loan increments being dependent on historical timely loan repayments.
Fee charged ranges between 8% – 25% and is highly dependent on the loan amount.
Pezesha loans are to be repaid within a period of 30 days from the date of disbursement.
Method 1 ( via manual payment )
Go to sim toolkit
- Go to your M-PESA Menu and scroll down to “Lipa Na M-PESA”.
- Select “PayBill”.
- Select “Business Number” and enter 898927.
- Select “Account Number” and enter your ID Number that you used to register on Pezesha.
- Enter the amount you want to repay.
- Enter your M-PESA PIN and send.
You will then get an SMS notification to alert you that you have successfully paid to Pezesha Africa Limited.
Method 2 ( via M-PESA STK Push automatic payment )
Click on ‘Request Payment’
- You will be required to fill in your phone number ( this will be automatically filled ) in addition to the amount you want to repay.
Click on ‘Pay Now’ whereby you will be prompted for your MPESA PIN to effect the payment.
This application requires no special permissions to run.
HOW TO GROW LOAN LIMIT
Timely repayment of previous loans that will also earn points which will qualify you for larger loans as well as improved credit scoring that will attract more lenders to fund your loan faster on the marketplace.
If you completely default – that is if you never repay – Pezesha will report and blacklist you on Credit Reference Bureau (CRB). This will means your opportunity to get a loan elsewhere (including with M-Shwari), will be very difficult.
Pezesha will also report you to external debt collectors who may come to your location to claim an equivalent asset (s) to cover and pay for your loan. You will not be able to borrow from Pezesha again.
REPAYMENT DATE EXTENSION