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Fadhili Loan App: how to Activate and Access Loan

By Oluchukwu Ikemefuna

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Fadhili Loan App is not just another lending platform; it represents a transformative approach to accessing financial support in Kenya. 

With the touch of a button, users can navigate through the complexities of traditional loan application processes and secure much-needed funds within minutes.

Whether it’s covering unexpected medical expenses, paying utility bills, or addressing other pressing financial obligations, Fadhili Loan App simplifies the borrowing experience with its user-friendly interface and efficient service delivery. 

It uses technology and data-driven algorithms to assess users’ creditworthiness and repayment capabilities swiftly, enabling the timely disbursement of loans directly to their mobile money accounts.

In this post, we’ll be reviewing all you need to know about Fadhili Loan App and how to activate and access the loan.

What is Fadhili Loan App?

Fadhili Loan App is a mobile-based lending platform that provides instant loans to users based on their creditworthiness and repayment history. 

It was developed to address the financial needs of Kenyans and offers convenient access to short-term loans, enabling users to meet their urgent financial obligations without the hassle of traditional loan application processes.

Read also:Full List of Genuine Loan Apps in Kenya

What is Fadhili Loan?

Fadhili Loan is a mobile lending platform that offers instant loans to individuals in Kenya. It provides quick access to short-term loans, typically disbursed directly to users’ mobile money accounts, such as M-Pesa. 

The loans offered by Fadhili are designed to address the urgent financial needs of users, allowing them to borrow funds based on their creditworthiness and repayment history. 

Fadhili Loan aims to provide accessible financial solutions to help users manage unexpected expenses or bridge temporary financial gaps without the need for lengthy application processes or collateral.

Read also:Understanding Tech Roles: What do frontend, backend, full-stack, and cloud engineering mean?

How to activate Fadhili Loan App

Activating the Fadhili Loan App from the Google Play Store is a straightforward process that involves downloading, installing, and setting up the app on your Android device.

Below is a detailed process on how to activate the Fadhili Loan App from the Play Store:

1. Access the Play Store:

Open the Google Play Store app on your Android smartphone or tablet. You can find the Play Store icon typically on the home screen or in the app drawer.

2. Search for Fadhili Loan App:

In the search bar at the top of the Play Store, type “Fadhili Loan App” and press the search icon or enter key. This action will initiate a search for the app in the Play Store database.

3. Select the App:

From the search results, locate the Fadhili Loan App. It is essential to ensure that you select the official app developed by Fadhili Technologies Limited to avoid downloading counterfeit or unauthorized versions.

4. Download the App:

Once you have found the Fadhili Loan App, tap on it to open its dedicated page within the Play Store. On this page, you will see information about the app, including its description, user reviews, and screenshots. To proceed with downloading the app, tap on the “Install” button.

5. Installation Process:

After tapping the “Install” button, the Play Store will begin downloading the Fadhili Loan App to your device. The download progress will be indicated by a progress bar or circle icon. Once the download is complete, the installation process will commence automatically.

6. Open the App:

Once the installation is complete, you can open the Fadhili Loan App directly from the Play Store by tapping the “Open” button on the app’s page.

Alternatively, you can navigate to your device’s home screen or app drawer to find the newly installed app icon and tap on it to launch the app.

7. Register and Setup Your Account:

Upon opening the Fadhili Loan App for the first time, you will be prompted to register for an account.

Follow the on-screen instructions to provide the necessary personal information, such as your name, phone number, and email address. You may also need to create a password to secure your account.

8. Verification Process:

After completing the registration process, you may be required to undergo a verification process to confirm your identity. This typically involves submitting a copy of your national identification card (ID) and other relevant documents as requested by the app.

To enable loan disbursements and repayments, you will need to link your mobile money account (e.g., M-Pesa) to the Fadhili Loan App. Follow the prompts within the app to securely link your account.

10. Activate Your Account:

Once your identity is verified, and your mobile money account is linked, your Fadhili Loan App account will be activated, granting you access to the loan services provided by the platform.

By following these steps, you can successfully activate the Fadhili Loan App from the Google Play Store and begin accessing its loan services to meet your financial needs.

Read also:How to Use the Standard Bank Home Loan Calculator

How to apply for Fadhili Loan

Applying for a loan through the Fadhili Loan App is an easy process that can be completed in a few simple steps:

1. Login to Your Account: 

Open the Fadhili Loan App on your smartphone and log in to your account using the credentials you provided during the registration process.

2. Navigate to the Loan Application Section: 

Once logged in, you will typically find a section within the app specifically dedicated to loan applications. This section may be labeled “Apply for a Loan” or something similar.

3. Select Loan Amount: 

In the loan application section, you will be prompted to select the amount of money you wish to borrow. Fadhili Loan App typically offers a range of loan amounts to choose from based on your eligibility and borrowing history.

4. Provide Necessary Information: 

After selecting the loan amount, you will be required to provide additional information to support your loan application. This may include details such as your employment status, monthly income, and the purpose of the loan.

5. Submit Your Application: 

Once all the necessary information has been provided, review your loan application to ensure its accuracy and completeness. After confirming that all details are correct, proceed to submit your application through the app.

6. Wait for Approval: 

After submitting your loan application, the Fadhili Loan App will begin the review process to assess your eligibility for the loan. This typically involves evaluating factors such as your credit history, repayment behavior, and affordability.

7. Receive Notification of Loan Approval: 

Upon completion of the review process, you will receive a notification through the app indicating whether your loan application has been approved or declined. If approved, the notification will also include details of the approved loan amount and repayment terms.

8. Disbursement of Loan: 

In the event that your loan application is approved, the approved loan amount will be disbursed directly to your linked mobile money account (e.g., M-Pesa). The disbursement process is usually completed within minutes or hours of loan approval.

9. Utilize Loan Funds: 

Once the loan amount is disbursed to your mobile money account, you can utilize the funds for any legitimate purpose as intended. Whether it’s covering unexpected expenses, paying bills, or financing personal projects, the loan funds are at your disposal.

10. Repay the Loan: 

As with any loan, it is essential to repay the borrowed amount within the specified timeframe and according to the agreed-upon repayment terms.

Fadhili Loan App typically offers flexible repayment options, including automatic deductions from your linked mobile money account on the due date.

With these easy steps, users can easily apply for a loan through the Fadhili Loan App and gain access to much-needed financial assistance in a convenient and timely manner.

Read also:Photomath: Google’s Latest App on the Play Store

How to Repay Fadili Loan

To pay back your Fadhili Loan using the Fadhili pay bill number 995321, follow these steps:

  • Access Safaricom Menu: 

Open the menu on your mobile phone and navigate to the Safaricom options.

  • Select M-Pesa: 

From the Safaricom menu, choose the M-Pesa option to proceed with the repayment process.

  • Navigate to Lipa na M-Pesa: 

Within the M-Pesa menu, locate and select the “Lipa na M-Pesa” option. This will direct you to the payment section.

  • Choose Pay Bill: 

In the Lipa na M-Pesa menu, select the “Pay Bill” option, which allows you to make payments to various businesses and organizations.

  • Enter Fadhili Loan Pay Bill Number: 

When prompted for the business number, input the Fadhili Loan pay bill number, which is 995321. This ensures that your repayment is directed to the correct account.

  • Provide Your Account Number: 

Under the account number section, enter your Fadhili registered phone number. This serves as your unique identifier and ensures that the repayment is credited to your account.

  • Enter Repayment Amount:

 Input the amount you wish to repay towards your Fadhili Loan. Make sure to enter the correct amount to cover your repayment obligation.

  • Complete the Payment: 

To finalize the repayment, enter your M-Pesa PIN when prompted. This step confirms your authorization for the transaction and completes the repayment process.

By following these simple steps, you can easily repay your Fadhili Loan using the M-Pesa platform. It’s a convenient and secure way to fulfil your repayment obligations and maintain a positive borrowing experience with Fadhili. You can also  choose how long you need to pay it back, from 91 days to 365 days

Read Also:Haraka Loan USSD Code in Kenya

What are the Terms and Conditions associated with Fadhili Loans?

1.Loan Limit:

The Fadhili loan app lets you borrow as little as 300 to Ksh 300,000 without checking your credit history. You can easily get the money sent to your Mpesa account by dialing 483013# on your phone or by downloading their app.

2. Eligibility Criteria:

When you apply for the loan, Fadhili decides if you’re likely to pay it back based on the information you provide.

It’s important to be honest when filling out the application. Even if you’re not working, you can still apply for the loan, but lying is against the law.

Fadhili looks at various factors to decide if they’ll approve your loan, like how you’ve repaid loans in the past, your Mpesa usage, your income, and even your activity on social media.

3. Interest Rate:

They charge a fee of 12% of the loan amount.

There’s also an extra service fee to cover things like checking your credit, handling payments, and managing your account.

To figure out how much you’ll pay, they have a loan calculator.

The fees you pay depend on how much you borrow. For example, if you borrow Ksh 20,000 for a year, with a total fee of 12%, you’ll pay an additional Ksh 2,400, which is the same as the loan fee.

FAQs

What is Fadhili Loan App?

Fadhili Loan App is a mobile lending platform in Kenya that offers unsecured and secured loans.

What types of loans does Fadhili Loan App offer?

They offer unsecured personal loans ranging from Ksh 250 to Ksh 70,000 and secured loans from Ksh 71,000 up to Ksh 10 million.

How long can I borrow money for?

Loan repayment periods range from 4 months to 5 years.

How do I apply for a loan with Fadhili Loan App?

You can download the Fadhili Loan App and apply directly through the app. 

What information do I need to provide when applying for a loan?

You will likely need to provide your personal information, income details, M-Pesa information, and potentially even social media handles.

How long does it take to get approved for a loan?

The approval process is typically quick and you may receive a decision within 24 hours.

What are the interest rates for Fadhili loans?

The APR (Annual Percentage Rate) can be as high as 240%. They may also charge account maintenance fees.

What happens if I miss a loan payment?

While they don’t explicitly mention late fees, late repayment over 180 days can lead to negative credit reporting on your Kenyan credit bureau. 

How do I repay my loan?

You can likely repay your loan directly through the Fadhili Loan App using M-Pesa or other supported payment methods. 

Conclusion

The Fadhili Loan App provides a convenient and accessible platform for individuals in Kenya to access quick loans to meet their financial needs. 

By following the step-by-step process outlined in this article, users can easily activate their accounts, apply for loans, and manage repayments efficiently.

However, it is essential to borrow responsibly and ensure timely repayment to maintain a positive borrowing experience with the app. 

With Fadhili Loan App, financial assistance is just a few taps away, empowering users to navigate unforeseen expenses with confidence.

If you found this piece useful, kindly drop a nice comment. Also visit and follow us on X @SiliconAfriTech for access to other useful contents .

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Blessing Ukibe
Blessing Ukibe

Medical Student at Nnamdi Azikiwe University|Tech content expert at Silicon Africa Technology|Lover of fun books and fun fun ☺️

Articles: 125

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