Saida Loan App

When we are faced with unexpected financial situations, we sometimes find ourselves in need of quick access to funds. This is where Saida loan app comes in handy.

Saida is an online mobile lending platform that offers quick and easy access to loans via M-Pesa without any security required. In this article, we will take you through the process of downloading, installing, and applying for a loan through Saida.

Requirements for Applying for Saida Loan App

Before applying for a loan through Saida, there are a few requirements that you must meet. Firstly, you must have an android smartphone with an active Safaricom line and M-Pesa service.

You should be recognized as an adult in Kenya (at least 18 years old) and have a valid national ID or passport. It is also advisable to have a steady source of income and use M-Pesa frequently with messages saved on your phone.

Downloading Saida Loan App on Your Phone

Downloading Saida loan app is a straightforward process. Firstly, ensure that your phone is connected to the internet either via data or Wi-Fi. Then follow these steps:

1. Go to the Google Play store on your smartphone and open it by clicking on it.
2. Once the Google Play store has opened, click on the search bar and type Saida loan app and press enter.
3. Select Saida loan app from the results.
4. Click on the install button and wait for the app to complete downloading and installing on your phone.
5. Open the Saida app by clicking ‘open’

• Browse through other Loan Apps in Kenya here.

Registering on Saida App

After completing the download and installation process of Saida, you will now need to register for an account. Registering for an account enables you to log in and start using this mobile loan app’s features. Here are the steps to follow:

1. Open Saida app on your phone.
2. Once the app has opened, press get started.
3. You’ll be asked to type your mobile number. 07** *** ***and press next
4. Press Next to Create an account.
5. Saida app will give you a welcome message once you successfully create account.
6. Now fill in the Saida registration form.
7. Type in your Full Names (as they appear on ID).
8. Confirm your Mobile Number.
9. Input your ID Number.
10. Next, you’ll Select An Email to use.
11. Now, press CREATE ACCOUNT.
12. Confirm if the details you keyed are correct.
13. Wait for the app to process information.
14. Once you complete the registration process, you can now check if you qualify for an M-Pesa loan through Saida app.

Applying for a Loan on Saida Loan App

Now it’s time to apply for your loan. First, you need to press the ‘check now’ button to see if you can qualify for a loan. The next follow these steps to apply for a Saida loan.

1. Open the app on your android phone.
2. Log in to the Saida loan app.
3. Press refresh now.
4. Next, you will need to answer a few questions that Saida asks you.
5. After you finish answering the questions, check if you qualify.
6. The app will then tell you when you need to check the results of whether you have qualified for a loan. Normally this is after an hour.
7. Exit to the main page by selecting close this page.
8. Next, confirm if you’ve qualified for a loan by pressing refresh.

Questions Asked During the Loan Application Process

Here are the questions you will be asked when applying for an instant M-Pesa loan using the Saida loan app:

1. What language do you want to answer the questions in, either ‘English‘ or ‘Swahili‘?
2. Your gender i.e. are you a man or a woman?
3. They also ask you your age to make sure if you are above 18.
4. Next, confirm your marital status, whether you are single, single with children (child), married with children (child), or just married.
5. Another question you will get is your highest level of education. Did you finish up to class 8, form 4, diploma, degree, masters, or PhD?
6. Then, Saida will also want to know if you live alone/with a spouse? And whether the house you have is ‘owned‘ or ‘rented‘.
7. The next question will be about your main source of income and whether it’s a part-time, seasonal, or full-time capacity.
8. Also, when are you paid, i.e. daily, weekly, or monthly, and how much you’ve been earning?
9. How long have you been earning this amount of money in years?
10. How will you use the Saida loan?
11. Next question they ask is how you will use the Saida loan: is it for an emergency, to build my credit, to pay a bill, to buy something, or for my business?
12. Finally, you’ll be asked how much you would want to borrow, either Ksh 100, Ksh 1000, 1001 to 3000, 3001 to 7000, 7001 to 10000, 10001 to 15000, 15001 to 30001, or 30,001 to 50,000?

Repaying Your Saida Loan

To repay your Saida loan, follow these steps:

1. Check the amount you need to repay for your loan on the app.
2. Open M-Pesa menu on your phone.
3. Select Lipa na Mpesa.
4. Select Pay bill.
5. Input Paybill Number 854400 which is the Saida by Suave Business Solutions.
6. Select Account number.
7. Enter your phone number as the account number.
8. Now Enter the Amount to pay; this will be your loan amount.
9. Press OK on the M-Pesa menu.

Contact Details of Saida Loan App

Do you have an issue that you need to be addressed by the Saida customer care? Here is how you can contact them:

1. To contact Saida, you can reach them by using the help menu on the loan app. Use the chat function created in the app. If you don’t have the app yet, then use their website and visit the FAQ page where they have answered the most common questions.
2. You can write to them using their email address syn@getsaida.com and hello@getsaida.com.
3. The customer service team can also be reached on social media through their official Twitter page and also using the official Facebook page.

Saida M-Pesa Paybill Number and Loan Amounts

The Saida M-Pesa paybill number you use to repay your mobile loan is 854400. There is a maximum and minimum amount of money that you can qualify for when you apply for a loan on the Saida loan app.

The maximum amount of money that you can borrow from the Saida loan app is Ksh. 50,000 once you qualify. The minimum amount of money you can borrow from the loan app is Ksh. 1000. Note that this applies to the Kenyan market.

Saida Loan Repayment Period and Interest Rates

On the app, you can select either a 1 to 6-month repayment schedule. Each of the loan repayment terms comes with specific loan payment terms.

Saida has a service fee of between 3% and 21% per month, which adds up to APR 36%-252% of the amount loaned to you.

The interest rate differs with each individual, and it depends on factors such as the payment period of the loan and other terms of the loan.

This is especially true if you’re a high-risk individual (poor creditworthiness). The interest rate you’ll be charged on your Saida loan will be higher.

Late payments and overpayments

What happens when you make a late payment for your Saida loan? If your loan repayment is late by more than 60 days, a penalty of 10% will be applied to the late loan amount. After that, no further penalties or charges will be applied again.

Conclusion

Saida loan app is an excellent option for people who need quick access to emergency loans in Kenya. It is easy to use, and the loan application process is straightforward.

With the Saida loan app, you can qualify for loans of up to Ksh. 50,000, and you can repay them over a period of 1 to 6 months.

Remember that the interest rates can be high, so make sure you read and understand the terms and conditions before applying for a loan. If you have any questions or concerns, you can contact the Saida customer care team via their app, email, or social media pages.