Fadhili loan app
You can now get up to Ksh 300,000 fast and convenient to your Mpesa when you dial *483*013# using a regular mobile phone or though their app when you download the app.
When applying for the Fadhili mobile loan, your creditworthiness is how Fadhili determines if you will default on your loan agreement, or how worthy you are to receive the requested loan amount by the answers you give.
You should ensure you answer the Fadhili loan application truthfully and correctly. Even if you are not employed, this doesn’t not stop you from accessing the loan. Giving false information may and it’s also illegal.
Your loan application is determined by a collection of information collected from you when applying. How you repay or have paid your past loans, your Mpesa usage details (it helps to also have 10,000 data points), your current income and social media activity are some of the information that affect your Fadhili loan application being rejected or approved.
You can get the Fadhili loan app by downloading using the link below.
How to pay your Fadhili mobile Loan
When your loan repayment is due, it is best to pay using the MPesa Fadhili pay bill number 995321.
- To pay, using your mobile phone go to the Safaricom menu.
- Then choose MPesa.
- Now choose the Lipa na MPesa menu.
- Choose the Pay Bill option.
- On the business number enter the Fadhili Loan paybill number 995321.
- Under account number enter your Fadhili registered phone number as the account number.
- Enter the amount you would like to pay.
- Complete your loan repayment by the Enter your MPesa PIN.
Fadhili Loan Fees and commissions:
Fadhili offers unsecured loans for amounts between Ksh 250 to Ksh 70,000.
For loan amounts from Ksh 70,000 to Ksh 10 Million you can only apply for it as secured loan.
Both unsecured and secured Fadhili loans have repayment periods between 4 months to 5 years.
The annual percentage rate (APR) which is the annual rate of interest charged to you as the borrower and paid to Fadhili as the lender over the loan you take is between 25% to 240%.
Additionally, there is also an Annual Ledger Fee/Account Maintenance Fee of between Ksh 100 to Ksh 400 depending on the loan amount borrowed.
Unsecured Fadhili mobile loan from ksh 250 to ksh 70,000 can be applied through their app or by dialling 483013#.
Usually there is a flat fee on the loan amount borrowed, say you borrow ksh 10,000, you will be charged a flat fee of ksh 2,500, with no late fees or rollover charges.
For secured loans of between ksh 70,000 to 10 Million, you should apply online then visit Fadhili offices to avail the requested documents to support your application.
If you pay your loan late, even up to a year late, you will not suffer additional charges for the late repayment. But it is important to remember, late loan repayments by over 180 days may lead to your name being listed with the Credit Reference Bureau (CRB) in Kenya which may affect your credit rating and future capacity to borrow from any other lender including banks.
It’s important to read 5 Questions to ask yourself before you take a Loan.
What happens when you cannot pay your Fadhili mobile loan on the agreed time.
If for any reason you cannot make the repayment within the period specified in the initial loan contract, the loan will be rolled over for at least two weeks and an extension fee added to your loan, with no interest charged on the extension.
Fadhili will decide how much extension fee and extra time they will offer you for any late repayment.
Fadhili Loan Contacts:
To get Fadhili loan contacts use the details provided below.
Fadhili mobile contacts: 0 720 686 009 (Kenya if you are calling outside Kenya remember to add +254 and remove the first zero)
For email inquiries: firstname.lastname@example.org
Fadhili loan website: http://www.fadhilimobile.co.ke/
Fadhili Facebook page: https://web.facebook.com/Fadhili-878251965709717/
If you have borrowed using the Fadhili loan app, please leave a comment below, and share your experience with us.