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Friday, October 16, 2020

What happens if you Overpay KashWay

    October 16, 2020   No comments

KashWay loan app

KashWay is one of the digital lenders in Kenya providing fast reliable mobile loans.

Read ; How to Get Loans From KashWay

The minimum amount the lender can give is ksh 500 and the maximum is ksh 50,000 instantly via Mpesa.

KashWay is run by Wakanda Credit and have a repayment duration of between 1 month and 1 year.

KashWay app serves as the platform through which borrowers take the loans.

When the loan is due ,here is how you can repay KashWay loan easily via Mpesa Paybill number 900068;

  • Go to Mpesa  menu 
  • Select Lipa na Mpesa 
  • Select Paybill 
  • Enter business number 900068
  • Enter your phone number as the account number 
  • Enter loan amount 
  • Enter Mpesa PIN 
  • Confirm and submit 
It is even possible to pay for your friend or family member. Just follow the same process but ensure you enter their phone number as the account number and pay.

When you fail to pay ,there's a 2% fees charged per day. If you take even longer to repay, your name will be submitted to Credit Reference Bureaus (CRB ) for blacklisting. 

But what will happen if you Overpay KashWay loan? Unlike other apps which keep your money till you take a new loan, KashWay will refund. 

Here is a note from their FAQs page; 
After reconciliation of all payments, excess funds will be reversed to your M-PESA account within 15days.

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Mwabaya Katana

About Mwabaya Katana

Mwabaya Katana is a Finance Online Researcher and Writer.He is the founder of 'Loans Kenya' Blog.

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