sotiwa loan app

Sotiwa loan app is offered by Sotiwa Ltd. The mobile loan app is available on the Google Playstore and is accessible to all Kenyans and has over 1K+ downloads as well as a 3.1/5 star rating with 10+ reviews in the Playstore.

USSD CODE

Analog phone users can access the service by dialing USSD code *243*90#.

REQUIREMENTS

To be able to use Sotiwa loan service, one needs to own a phone, be at least 18 years with a valid national ID and also be a registered Safaricom subscriber.

REGISTRATION PROCESS

First-time users only need to go through a short registration process providing Personal identification information like National ID number, Full name, Age, etc.

After submitting the details, the user’s information is verified through the internal process and once approved, the client is given a one-time PIN and Loan limit immediately.

LOAN AMOUNTS

Loan limits vary with a minimum of Ksh 1,000 and the maximum of Ksh 20,000.

FEE RATE

Sotiwa loans attract an interest rate of 20%

REPAYMENT DURATION

Sotiwa currently offers short term loans with a repayment period of 30 days.

REPAYMENT PROCEDURE

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 568666
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’.

APP PERMISSIONS

This app has access to:

  • Wi-Fi connection information- view Wi-Fi connections

Other

  • View network connections
  • Full network access

LATE REPAYMENTS

Late payments will reduce your future loan limits and the risk of being listed with CRB thus ruining your credit score.

OVER PAYMENTS

The excess amount is moved to your mobile wallet on your Sotiwa account which you can access anytime.

REPAYMENT DATE EXTENSION

None.

CONTACT DETAILS

Phone: +254 728 221 717

Email: statements@sotiwa.co.ke