Kashbean is a revolutionary mobile loan service provider that aims to help small business owners in Kenya gain access to the financing they need to grow their businesses.
Through its easy-to-use mobile app, Kashbean offers fast and affordable loans with flexible repayment terms to eligible borrowers, allowing them to expand their businesses or meet other financial needs.
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Loan Products
Kashbean offers loan amounts ranging from KSh 1500 to KSh 80,000, with loan periods ranging from 91 to 365 days.
The maximum APR is 36% per year, which makes it one of the lowest in the Kenyan market. For example, if you borrow KSh 20,000 with a 91-day term, you will be charged a monthly interest rate of 3% and a total monthly payment of KSh 7,266.
The total repayment bill including principal and interest will be KSh 21,800. The fees charged are affordable and transparent, ensuring that borrowers are not burdened with hidden charges or exorbitant interest rates.
Why Choose Kashbean?
There are several reasons why you should consider borrowing from Kashbean. Firstly, the loan application process is entirely digital and paperless, making it fast and convenient.
There are no collateral requirements, and no credit report is required, making it easier for borrowers to access financing.
Kashbean offers 24/7 access to loans, disbursing funds directly to your M-PESA account in just one minute once approved.
The loan limit increases as your credit score improves, and repayment is flexible, allowing borrowers to pay back the loan in a way that suits their needs.
Eligibility
To be eligible for a Kashbean loan, you must be a Kenyan resident aged between 18 and 60 years old with a source of income and the ability to repay the loan.
Repayment
Repaying a Kashbean loan is easy and convenient. Borrowers can repay their loans through the M-PESA Paybill 196184, with their phone number serving as the account number. Here are the steps:
- Go to M-PESA in your Safaricom menu on your phone
- Select Lipa na M-PESA
- Choose Paybill
- Enter the Kashbean Paybill number 196184
- For account number, enter your M-Pesa number on which you received your Kashbean loan
- Enter your repayment amount
- Enter your M-PESA pin
- Confirm that all details are correct and press ‘OK’.
You can apply for a fresh Kashbean loan immediately after you repay the outstanding loan.
Alternatively, repayment can be done through the Kashbean app using M-PESA Express. Timely repayment helps to increase your credit score, making it easier to access larger loans in the future.
Security
Kashbean takes the security of your data seriously. All data is transferred over a secure HTTPS connection, and Kashbean does not share it with anyone without your consent, except for lenders.
All transactions are secured via 128-bit SSL encryption, ensuring that your information remains confidential. You can review Kashbean’s privacy policy before registering to understand how they handle your data.
Contact Us
If you have any questions, feedback, or concerns, you can reach Kashbean’s customer service team via email at help@kashbean.co.ke or through the online service available in the app.
The company’s headquarters are located at Applewood Building in Nairobi City.
Conclusion
Kashbean is an excellent choice for small business owners in Kenya who need quick and affordable financing.
With its user-friendly mobile app, fast disbursement of funds, and flexible repayment terms, it’s no surprise that Kashbean has quickly become a favorite among borrowers.
If you’re looking for a reliable and transparent loan service provider in Kenya, Kashbean is definitely worth considering.