Shika loan app is offered by Alternative Circle. 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 3.6/5 star rating with 1.2K+ reviews in the Playstore.
To be able to use the Shika 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.
- Download , install and follow the registration procedure.
- Once you are registered with us follow the steps below to request for a loan:
- Key in your phone number that was verified by the Shika followed by your PIN.
- Once logged in select Request Loan.
- Key in the loan amount you want as per your limit.
- Key in your PIN number
- Select confirm
You will receive an M-PESA SMS with the amount requested for in less than 30 seconds.
Loan amounts range from Ksh 500 to a maximum of Ksh 20,000.
Fee charges are 15%
Repayment terms are set at 30 days.
To make Shika repayments:
- 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 811655
- Enter your Shika registered phone number as the account number
- Enter your payment amount
- Enter your M-Pesa PIN
- Confirm that all details are correct and press \’OK\’
This app requires access to:
- Contacts- read your contacts
- Location- approximate location (network-based) and precise location (GPS and network-based)
- SMS- read your text messages (SMS or MMS), receive text messages (MMS), receive text messages (SMS), send SMS messages and edit your text messages (SMS or MMS)
- 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
- Device ID & call information- read phone status and identity
- receive data from Internet
- view network connections
- full network access
- run at startup
- control vibration
- prevent device from sleeping
- read Google service configuration
Late payment will incur a roll over fee of 10% on top of the initial loan amount and facilitation fee due for repayment. Penalty charges start accruing the next day after your repayment due date, that is, on the 31st day from when your loan was issued.
If a loan is not repaid within 60 days from the day it was issued, the user will be listed at the Credit Reference Bureau therefore making the individual unable to access credit facilities from our platform or anywhere else.
If you overpay your loan amount by default the overpaid amount is used to offset the facilitation fee in your next loan request, or you can contact us if you need the overpaid amount refunded.
It might take you up to 14 days to transfer the refund to your mobile money account.
REPAYMENT DATE EXTENSION
Official Website- https://shika-app.com/