I finally found bamba loan app and in this article allow me to tell you what I know about the lending platform.
Welcome to Loans Kenya Blog. In this post I will be telling you what is bamba loan app, how to download bamba loan app, loan interest rates ,loan limits and more.
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| Bamba loan app logo |
What is Bamba Loan App?
Bamba loan app is a mobile loan lending platform which was created to gives loans to borrowers via M-PESA.
According to my knowledge the loan app is owned and managed by Choice Microfinance Bank, which is a licensed microfinance bank by the Central Bank of Kenya (CBK).
I this regard,I can say bamba loan app is among the regulated and approved loan apps (digital credit providers) in Kenya.
Again bamba loan app falls under the category of loan apps backed by banks joining the likes of Juza loan app, Timiza loan app,Vooma loan app, KB Okolea loan app, KCBM-PESA and M-Shwari.
Bamba Loan App Download
How can one download bamba loan app? You can get the app via get bamba website and this is because the app is still in early access.
When fully launched,I'll include a link to download bamba loan app from Google play store right here.
At the moment as of my knowledge there's is no bamba loan app for iPhone (iOS) smartphone users.
Bamba Loans - Interest Rates, Loan Limits
Bamba loan limits can go up to ksh 30,000 given the most qualified borrowers.
First loan amount is normally lower than ksh 30,000 but with a good credit score the amount can be close to the mentioned limit above.
How can one receive a bamba loan?
Upon approval,bamba loans are disbursed directly and instantly to the borrower's M-Pesa account.
Bamba loans interest rate is 4% which is low and this is because this lender is regulated by the CBK.
Pay Bamba loans
Customers are able to choose the amount to borrow and the duration to repay the loan and this is why bamba is among the best loan apps.
However, bamba loan repayment duration is a maximum of 2 weeks.
Borrowers can pay Bamba loan via the app ,via USSD code or via M-PESA playbill (Choice Microfinance Bank paybill number.)
Who qualifies for Bamba loans
The requirements for Bamba loans including;
- Be a Kenyan citizen
- Be 18 years or above
- Have National ID
- Have a safaricom mobile phone number with M-Pesa account.
Bamba loans defaulters
The loan repayment duration is 2 weeks but a customer is free to choose what to take and when to pay.
Don't worry if you default bamba loans. What I know is that bamba promised not to harass any customer if he or she is a loan defaulter.
How to increase Bamba loan limits
Just like the other loan apps in the market, one can increase Bamba loan limit by paying existing bamba loans early.
Ensure to pay other lender's loans to avoid CRB blacklisting. Anybody with a clean CRB record gets bamba loans easily.
Bamba loans customer care contacts
Here are bamba loan phone number and email addresses;
0703 229889
hello@getbamba.com
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