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Kashbean Loan: Instant and Safe Loan in Kenya

By Oluchukwu Ikemefuna

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The world has become more tech-driven than ever, and we can hardly get by without the use of technology. From how we interact, work, and even manage finances and when you are low on cash, many companies are willing to loan you a substantial amount of money without meeting you face-to-face!

Kashbeam official logo.
Source: Google PlayStore

Many Kenyans are jumping on this new financial evolution to get by daily. You too can get on this train of financial freedom by using the Kashbean loan app. Imagine a quick loan at your disposal when you need it. 

You also get to repay at your convenience. But how does this work? You download the app and that is almost like 50% of all you need to do. In the article, we will explore how you can make the most of this loan app to get cash when you need it. Let’s get started. 

About Kashbean

In Kenya, Kashbean is a popular mobile loan lending app with a sizable user base. By providing personal loans through its platform, Kashbean enables people to easily handle unforeseen financial obstacles. 

Kashbean’s main goal is to close the credit access gap, serving both self-employed and employed people nationwide.

Features of Kashbean

One of the distinguishing features of Kashbean is its transparency and accessibility. Here are other key advantages that users can expect using the loan app:

High quota and low-interest fee 

Kashbeam offers loan amounts ranging from KSh800 to KSh50,000, with flexible repayment periods spanning from 7 to 90 days. This may sound great to borrowers as it allows them to tailor their loan options according to their specific needs and repayment capabilities.

Easy application process

Kashbean makes the loan application process simple and eliminates the need for extensive paperwork or credit history checks.

Residents aged 18-60 with a stable income source can apply online via the mobile app, ensuring convenience and efficiency.

Licensed and regulated

Kashbeam is licensed and regulated by the Central Bank of Kenya, so rest assured that there are no shady dealings. 

Kashbean adheres to stringent regulatory standards, providing users with assurance regarding the safety and security of their financial transactions.

Interest and fee transparency

Nothing sounds good to a borrower than no hidden charges. Kashbean prioritizes transparency in its lending practices, ensuring that users are fully aware of the associated costs. 

There are no hidden fees, and borrowers have a clear understanding of the interest rates and borrowing costs upfront.

Application Requirement

To borrow from Kashbean, you need to have some material and documentations handy to aid your application process

  • A national identification card number
  • An android smartphone
  • A registered M-pesa number
  • Names match with the ID
  • Place of work
  • Physical address

Kashbean Loan Application Process

Kash loan application process
Source: Kashbean Officail Website

With Kashbeam, getting a loan hasn’t been simpler. You can get a loan by following these steps:

  1. Download the App: Start by downloading the Kashbean app available on the Google Play Store and registering using your M-Pesa mobile number.
  2. Select Loan Amount: After you have registered, you can go ahead to choose the desired loan amount. You will also be asked to provide basic information along with a front and back photo of your national identification card. Go ahead t scan the necessary documents and upload them.
  3. Submit Application: once you complete the steps above, you can review and submit their loan application through the app. The application results are promptly communicated via the app interface and SMS.
  4. Loan Disbursement: Kashbeam will not waste time disbursing your loan. Upon approval, the loan amount is swiftly transferred to your M-Pesa registered number. 

Repaying Kashbeam Loans

To keep their borrowing connection with Kashbean positive, borrowers are urged to make their loan repayments on schedule. There are several handy ways to make repayments, including internet transfers or M-Pesa payments.

You can use the phone number you borrowed as the Account Number to transfer the loan amount to our M-Pesa Paybill number 733555 to repay your KASHBEAN.

Conclusion

In conclusion, Kashbean is the go-to app you should use in Kenya if you need fast loans. Kashbean’s user-friendly software, transparent terms, and quick payouts make handling financial emergencies simple.

On the path to financial stability and empowerment in Kenya, Kashbean has your back, regardless of unforeseen bills or pressing costs.

FAQs

How fast can I get a loan from Kashbean?

Upon loan approval, the funds are transferred immediately to your M-Pesa account, guaranteeing quick access to the borrowed amount.

What is the range of loan amounts I can borrow from Kashbean?

Starting at Ksh 500, loan amounts can go up to Ksh 50,000 over time, contingent on your repayment history and other variables.

How quickly can my loan limit increase with Kashbean?

As long as you make your loan payments on time, your loan limit may rise. But how much of an increase there is depends on a number of things that Kashbean takes into account. While they encourages careful borrowing and repayment , Kashbean is unable to guarantee the precise date or amount of the increase.

Why was my loan application not approved?

Kashbean evaluates loan applications based on a number of criteria, such as your credit score, financial history, and loan goals. Inconsistencies in your application or other pertinent criteria could have been the reason your application was rejected.

What data does Kashbean use to assess my loan application?

Mobile device information and financial transaction messages are among the data that Kashbean uses from your phone. In addition, Kashbean evaluates the suitability of your loan offer and creditworthiness based on your payback history with Kashbean.

I received loan approval, but I haven’t received the money. What should I do?

Please check your M-Pesa account balance to see if Kashbean has credited you. If your loan application has been accepted but you have not received them yet, you can contact Kashbean’s customer service at cs@kashbean.com for help and clarification in the event of any delays or problems.

What are the repayment options available with Kashbean?

Online transfers and M-Pesa payments are only two of the easy repayment alternatives that Kashbean provides. By entering your phone number as the Account Number and sending the repayment to Kashbean’s M-Pesa Paybill number 733555, you may simply return the loan amount.

Can I apply for a Kashbean loan without a credit record?

Yes, a credit history is not necessary for Kashbean to approve a loan. You can apply for a loan online through the Kashbean app if you are a resident of Kenya between the ages of 18 and 60 and have a reliable source of income.

Can I repay my Kashbean loan before the due date?

Yes, there are no penalties if you pay back your Kashbean loan early. Kashbeam recommends early repayment to improve your borrowing relationship with them and possibly result in future increases in loan limits.

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Peremoboere Numa
Peremoboere Numa

Pere is a versatile SEO writer with a Master's degree in English, who is dedicated to creating engaging and impactful content.

She excels in weaving content that not only informs, enlightens and impacts but but also optimize its online presence to rank on major web sites.

Pere brings a unique blend of linguistic proficiency and SEO knowledge, ensuring that each piece she crafts leave a lasting impact.

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