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.
Analog phone users can access the service by dialing USSD code *243*90#.
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.
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 limits vary with a minimum of Ksh 1,000 and the maximum of Ksh 20,000.
Sotiwa loans attract an interest rate of 20%
Sotiwa currently offers short term loans with a repayment period of 30 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 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’.
This app has access to:
- Wi-Fi connection information- view Wi-Fi connections
- View network connections
Full network access
Late payments will reduce your future loan limits and the risk of being listed with CRB thus ruining your credit score.
The excess amount is moved to your mobile wallet on your Sotiwa account which you can access anytime.
REPAYMENT DATE EXTENSION
Phone: +254 728 221 717