The digital credit market is increasingly becoming over-saturated with dodgy loan apps that take advantage of their currently unregulated status to either scam or mine data from clueless users.

Despite this, majority of the genuine loan apps are having a hard time attracting borrowers to their platforms largely due to the overwhelming competition.

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As a result, some lenders adopt reward programs in a bid to overcome this.

Such programs include referral bonuses whereby users benefit from inviting someone either through a link or a personalized code.

The other form of reward program is through prize rewards which encourages early repayment and is entirely based on luck!

Sign up to get notified via email of new loan apps with prize reward programs!

Below, we look at some of the lenders who offer prize reward programs.

Credit Hela – Check In

The ‘Check In’ page can be accessed by opening the CreditHela app, clicking on My Account, then on the Check In button located at the top right on a daily basis.

Checking in for 3 consecutive days, will earn 3 bonuses while doing so constantly for 7 days will earn 7 bonuses.

Bonuses earned will be automatically sent to one’s account and can be either withdrawn or used to repay loans.

MoKash – Lucky Draw

The Lucky Draw can be accessed via 2 options i.e

  • Clicking on the menu button located at the top left and choosing Lucky Draw or
  • Clicking on the spin-wheel located at the top right of the app.

For each successful loan repayment, users will get a 1-time SPIN chance to try and SUCCESSFULLY WIN the available rewards consisting of Ksh20, Ksh50, Ksh100, Ksh500 and Ksh1,000 airtime.

Lucky winners will receive the top-up on the following day.

The play times can accumulate but the maximum is capped at 5.

Zash Loan – Limited Time Draw

The Book a draw page can be found by clicking on a banner displayed at the home menu of the app.

The draw comprises of users selecting a number and getting a chance to WIN cash prizes or coupons.

Users get 1-time (x1 ) chance to get a reservation number which will be reserved until the date of the draw. Additional extra numbers can be obtained through inviting friends to sign up for credit.

However, each user can only get up to 3 numbers.

All round winnings will be credited in the user’s account immediately the draw is over.

Okash – Lucky Draw

The Lucky Draw can be accessed by tapping on the gift symbol located at the top right of the app.

The option is available after registration, loan approval or full repayment of pending loan.

The available prizes include: Huawei phone, Ksh600 and Ksh1,000 limit coupons, Ksh200 bonus as well as Ksh100 airtime.

Coupon rewards will be sent immediately to the user’s account and can be used in loan repayment.

Airtime rewards shall be topped up to the user’s number on the next working day.

Bonus rewards will be sent immediately to the user’s account and can either be used for loan repayment or withdrawal.

Huawei winners will be called for verification and the phone to be sent on the next working day.

HiKash – Lucky Draw

The Lucky Draw can be accessed via 2 options i.e

  • Clicking on the menu button located at the top left and choosing Lucky Draw or
  • Clicking on the spin-wheel located at the top right of the app.

For each successful loan repayment, users will get a 1-time SPIN chance to try and SUCCESSFULLY WIN the available rewards consisting of Ksh20, Ksh50, Ksh100, Ksh500 and Ksh1,000 airtime.

Lucky winners will receive the top-up on the following day.

The play times can accumulate but the maximum is capped at 5.