Skip to content
Home » Sky Pesa Loan

Sky Pesa Loan

This is a mobile application that allows Kenyans to apply for loans directly from their mobile devices. There is no requirement for you to fill out any paperwork or open any bank accounts.

Sky Pesa is a platform that enables borrowers, digital wallets, and banks to conduct loan transactions with one another more efficiently.

Every single application for a loan is accepted, and applicants are informed of this fact well in advance of the period during which applications are being accepted.

How Much of a Loan Can You Get with Sky Pesa?

Sky Pesa loans have a minimum requirement of Ksh 1,000 and a maximum allowed amount of Ksh 20,000. You will be approved for a lower amount of the loan the first time you apply for it, but as time goes on and your repayment history is evaluated, your credit score will increase, and you will be approved for a bigger amount of the loan.

Sky Pesa Loan Cost

Sky Pesa loans come with an annual interest rate that ranges from 10% to 16.25%. This equates to a daily cost of 0.027% to 0.044% of the total amount of the loan that is due.

The customer’s risk profile determines how much of a difference there is between the various products in terms of the annual interest rate.

Sky Pesa loans have a length of 91 days, which is equivalent to three months, while those in the higher group get 180 days, which is equivalent to six months.

Sky Pesa registration A one-time service fee may be levied against the subscriber at the beginning of the month or escalated during the period, based on the subscriber’s membership level and the personal data risk involved.

For processing the payments on the loan, there will be a nominal fee assessed. The customer’s creditworthiness and ability to make repayments influence both the fees that are assessed and the due dates for those fees.

The person will not be punished until they are late with their regularly scheduled payment.

How to Apply for a Loan through Sky Pesa

You will need to download the app from the Google Play Store in order to apply for a loan through Sky Pesa. After the download is complete, launch the application and complete the opt-in form.

Please respond to the questions that have been posed and include as much genuine information as you can.

Following completion of these steps, the application for the loan will be processed, and you will be notified of the status of the processing within ten minutes.

Loan Option Available Through Sky Pesa

You can acquire a loan in the form of a cash transfer within ten minutes of installing this straightforward lending option, and the transfer will take place automatically.

You can receive a loan for any amount between 2,000 and 100,000 Kenyan shillings, and the repayment period can be anywhere from 91 days to six months.

Personal loan examples for salaried employees include the following:

  • The loan amount ranges from 1,000 to 20,000 Kenyan Shillings.
  • Duration: 91 days- 180 days
  • The interest rate is twenty percent every year.
  • The maximum APR is 10%-16.25%, and it ranges from 0.027% to 0.044% daily.
  • Cost of processing: 0

**Example: If the amount of your loan is 2,000 Kenyan Shillings, the annual percentage rate (APR) will be 10%, and the period will be 91 days. The total sum that must be paid by the due date is 2049.86 KSh (2000 KSh multiplied by 10% of 365 * 91 plus 2000 KSh).

Sky Pesa Paybill Number

You will be able to repay the loan through paybill number 4084161 when the deadline of repayment arrives. The steps that need to be followed are as follows:

To access M-PESA on your phone, go to the Safaricom menu and select it.

  1. Select Lipa na M-PESA
  2. Pick the Paybill option.
  3. To pay your bill, enter the number 4084161.
  4. In the “account number” field, enter the phone number that you used to register for the service.
  5. Please enter the amount of your repayment.
  6. Please enter your M-PESA pin number.
  7. Check that all of the information is accurate, and then press the ‘OK’ button.

Through M-Pesa Paybill, you are able to reimburse a friend or family member for their Sky Pesa loan. All that is required of you is to provide the mobile number associated with the account that was used to take out the loan.

Why Should You Consider a Sky Pesa Loan?

Many individuals favor Sky Pesa loans because they can be accessed online and there is no have to physically visit any offices or banking rooms in order to obtain the loan. No ques and no papers to fill

Sky Pesa loans are authorized quickly, and the money can be transferred to a digital wallet or a bank account within ten minutes of applying for the loan. This is another advantage of using Sky Pesa loans.

The wire transfer of money, and you won’t even have to wait a day or two for it. When you go to the bank and fill out an EFT, the transfer will take at least two working days to be processed, while an RTGS transaction will take at least one day.

Transfers made with Sky Pesa are completed in real-time, and you receive the money right away.

Who Is Eligible To Receive A Loan From Sky Pesa?

Anyone living in Kenya who is over the age of 20 and has an active Sky Pesa account is eligible for a loan. To be eligible for the loan, you will need to show either the presence of a source of income or proof that you have a source of income.

It is necessary to have a smartphone capable of downloading the Sky Pesa app. It is not possible to submit an application for a Sky Pesa loan over SMS. The only way to accomplish it is through the app.

You may also have a look at the following:

How to get in touch with Sky Pesa.

Sky Pesa can be reached for any questions, clarifications, or additional information on the following:

The toll-free number for customer service is 25411562397.
Email address: help.skypesa@gmail.com.
Argwings Kodhek Road, Nairobi.