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Shika Loan App: How to Apply

By Oluchukwu Ikemefuna

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With the Shika Loan app, you may borrow money online and repay it directly from your smartphone. Because of this, you can apply for a loan by downloading the application on your phone, logging in, and using it.

In Kenya, credit firms are expanding quickly, but not many of them can keep up with the demands of borrowers. Shika is one of the very few. Through the use of this app, borrowers can apply for fast loans from Alternative Circles. 

Kenyan owners with Android smartphones can download the app. To use the service, you must have a Safaricom SIM card. The loan amounts they offer vary from Kshs. 500 to Kshs. 20,000.Within three minutes of loan approval, money is transferred to your MPesa account and 15% of the total amount you have borrowed is the interest that is charged.

This article will provide all the information you require to apply for a Shika loan, including the loan limit, application procedures, customer support numbers, Shika Loan app USSD and other contact information.

Read also – Kesmall Loan: How to Apply and other Important Details

Key Features of Shika Loan

  • User Eligibility: At the moment, Android users in Kenya who have Safaricom subscriptions can use the app.
  • Loan Limits: To meet a range of financial demands, Shika offers loans from Ksh 500 to Ksh 20,000.
  • Fast Disbursement: Within three minutes, approved loans are deposited into your M-PESA account.
  • Interest and Fees: A one-time facilitation fee equal to 15% of the approved amount is assessed for each loan.
  • Flexible Repayment: You can choose to make payments every day, every week, or at the conclusion of the thirty-day period. The maximum repayment time is one month.
  • Fees for Late Repayment: Overdue payments are subject to a 10% rollover fee, and failure to make payments for more than 60 days may result in a CRB listing.

About the Shika Loan App

One of the top lenders in Kenya, Alternative Circle, is the owner of Shika Loan. Through M-Pesa, they provide Kenyans with rapid loans. Applying for a loan between Ksh 500 and Ksh 20,000 is simple, and you can simply repay it when it’s due.

There are numerous repayment choices available within a month, with interest rates starting at 15%.

Read also – Haraka Loan: how to Apply for it

Requirements Needed to Apply for Shika Loan

Applicants must fulfill specific standards in order to apply for a Shika loan in Kenya. These requirements guarantee both a seamless loan application process and responsible loan repayment management on the part of borrowers.

Although specifics should always be verified with Shika directly, the following are generally the prerequisites for eligibility:

  • Kenyan Resident: Since the service is only intended for the Kenyan market, applicants must be citizens of Kenya.
  • Age Requirement: In order to enter into a financial agreement, borrowers must be of legal age, which is often 18 years or older.
  • Active M-PESA Account: Having an active M-PESA account is necessary because Shika distributes loans via M-PESA.
  • Android Smartphone with Internet Access: In order to download and utilise the Shika app, candidates must have an Android smartphone with internet access. Shika works through a mobile app.
  • Valid identity: To verify your account on the app, you must present a national ID or any other acceptable form of identity.
  • Safaricom Subscriber: Due to the platform’s integration with Safaricom’s M-PESA system, Shika lending services are currently only available to Safaricom users.
  • Download the app and sign up: Prospective borrowers need to finish the registration process and download the Shika app from the Google Play Store. Usually, this entails creating an account and submitting personal information.
  • Creditworthiness: In order to establish a loan limit, Shika may evaluate an applicant’s creditworthiness based on their history of M-PESA transactions as well as other financial behaviors.

Fulfilling these prerequisites is essential for applying for and getting approved for a loan from Shika in Kenya. Since these can vary over time, prospective borrowers are advised to verify the most recent requirements and modifications using the Shika app or its customer support.

Shika Loan Login And Application

You must use the Shika loan app on your phone to create an account with your email address and other credentials in order to log in and apply for the loan. For instructions on creating an account and logging in, see below.

  • Look for the Shika Loan app in the Google Play Store on your Android phone.
  • If you are unable to locate the programme, go up Shika Loan APK on Google.
  • Click to start the device’s app download.
  • To open it after it has downloaded, tap.
  • When it opens, tap to register with your email address and other information.
  • To register and then log in, follow the instructions displayed on the screen.
  • Once you’re finished, select Apply to submit a new loan application.
  • Following the application, you must wait for the loan to be approved.
  • You will receive notification of the loan’s approval or denial.
  • It will be credited to your account if it is accepted.

Shika Loan Limits

Your good credit score with Shika Loan will determine how much money you receive. Repaying your debt on time every time is the best approach to raising your credit limit. In this manner, when you reapply, they will raise your loan amount or limit.

Your loan limit may be KSH 500 the first time you apply, but it may rise to KSH 1000 or even KSH 20,000 the next time. The loan period also varies, starting at 30 days.

Read also – Opesa Loan: How to Access it

How to Repay Shika Loan App

You can use your registered Safaricom number as the account number and your Zash M-Pesa pay bill number (811655) to repay the Shika loan app. Alternatively, you can adhere to the guidelines the app provides. 

Pay back your loan on time to keep your credit standing with the Shika loan intact. By doing this, you can also prevent the Credit Reference Bureau (CRB) from delisting your account as a defaulter.

Shika Loan Customer Contact Number

You can reach Shika by phone at the number and address below. You can reach them by phone or by sending them an email. Before you contact someone, make sure you know what you want to ask or what sort of help you need. Their customer service is meant for grievances.

  • Go to the Interswitch offices on the fourth floor at Orbit Place, Chiromo Lane, Westlands, Nairobi.
  • Text or call 0742143999; send an email to care@shika-app.com.

As you can see, Shika is yet another excellent Kenyan loan site. Using the programme, you can simply receive a loan that you can repay when it’s due. The good news is that you can apply again after you’ve paid back, and your loan limit will rise as a result. If your application for a loan is denied, wait a few days and try again.

Read also: Latest way to Buy Airtel Airtime on MPesa 2024

How To Apply and Repay Shika Mobile Loan Via Mpesa

1. Get the Shika Loan app downloaded.

  • Open the Google Play Store by clicking here.
  • Launch the Google Play Store on your Android handset.
  • Make sure your internet connection is reliable.
  • Look for the Shika Loan Application
  • Use the search function to look up “Shika Loan.”
  • To avoid downloading fake apps, go for the official one
  • Install and download
  • After choosing the app from the search results, click “Install.”
  • Hold out while the software downloads and installs on your gadget.

2. Creating an account on the app

  • Launch the Shika application
  • Open the Shika app on your mobile device.
  • Establish an account
  • Please fill out the needed personal information to sign up. This usually includes your national ID number and Safaricom mobile phone number.
  • Establish a safe PIN for your account.

3. Loan Application

  • Complete the loan application
  • Go to the app’s loan application section after registering.
  • Input the necessary information, such as the desired loan amount. Be sure to adhere to the loan amount that has been allocated to you.
  • Send in your application
  • Check the accuracy of your application details.
  • Send in your loan application.

4. Authorization and Payment of the Loan

  • Await Approval: Shika will evaluate your creditworthiness and application.
  • It normally only takes a short while for approval, and the app will notify you.
  • Get Your Loan: The loan amount will be credited to your M-PESA account immediately upon approval.
  • Regarding the transaction, M-PESA will send you a message of confirmation.

5. Handling the Loan and Paying It Back

  • Verify the Payback Schedule: Learn about the conditions and timetable for repayment through the app.
  • Make Repayments on Schedule: To prevent late payment penalties and to keep your credit score high, make sure you return the loan on schedule.

You may effectively apply for and handle a loan from Shika in Kenya by following these steps. Always remember to borrow sensibly and make sure you have the means to return the loan according to the terms set forth.

Read also – Loan Calculator and How to Use it

The Interest Rate and Duration for Shika Loan 

Borrowers may expect a simplified and adaptable lending experience from Shika Loan Kenya, together with key information about interest rates and loan terms that should be understood by borrowers: 

Interest Rate

  • 15% of the loan amount is the standard facilitation cost that Shika levies. One of the main expenses of borrowing from Shika is this fee, which is charged on each loan that is disbursed.
  • Annual Percentage Rate (APR): Although the Shika loan APR is not specified specifically, the 15% flat charge provides a sense of the cost of borrowing. To grasp the entire cost, borrowers should take this rate into account along with the length of the loan.

Duration of Loan

  • Shika gives consumers a short-term financial option with flexible payback periods, and a maximum repayment length of one month (30 days).
  • Repayment Options: Depending on what works best for their budget, borrowers can choose to make their payments on a daily, weekly, or final basis at the conclusion of the thirty-day period.

Extra Fees

  • Late Payment Fees: A 10% rollover fee is added to the total amount outstanding if the borrower does not return the loan within the prearranged timeframe. This fee raises the cost of the loan if payments are not made on time and encourages timely repayment.
  • CRB Listing: If a borrower fails to make payments within 60 days, they may be reported as defaulters to the Credit Reference Bureau (CRB), which may have an impact on their credit score and future loan eligibility.


How do I download the Shika Loan App?

You can download the Shika Loan App from the Google Play Store for Android devices.

What are the eligibility criteria for applying for a loan on the Shika Loan App?

Eligibility criteria typically include being a registered mobile money user and having a good repayment history.

How do I register for the Shika Loan App?

After downloading the app, you’ll need to create an account by providing your personal details and verifying your identity.

What documents do I need to provide to apply for a loan?

Typically, you’ll need to provide identification documents such as your ID or passport.

How much can I borrow through the Shika Loan App?

Loan amounts vary depending on your eligibility and repayment history, but typically range from a minimum of Ksh 500 to a maximum of Ksh 20,000.

What is the repayment period for loans obtained through the Shika Loan App?

The repayment period is usually short-term, ranging from a few days to a month.

How do I apply for a loan using the Shika Loan App?

 Simply log in to the app, select the loan amount you wish to borrow, and follow the prompts to complete the application process.

How long does it take to receive the loan once I apply?

Once your loan application is approved, the funds are typically disbursed to your mobile money account within minutes.

What happens if I can’t repay the loan on time?

If you’re unable to repay the loan on time, Shika may impose penalties and may also restrict your access to future loans.


In conclusion, the Shika Loan App provides a convenient and accessible solution for individuals in need of quick financial assistance. With simple eligibility criteria and a straightforward application process, users can easily apply for loans ranging from Ksh 500 to Ksh 20,000. 

The app’s fast approval and disbursement ensure timely access to funds, while its commitment to data security assures users of their information’s safety. 

Whether facing unexpected expenses or bridging short-term financial gaps, the Shika Loan App offers a reliable and transparent lending option. Explore the possibilities today and take control of your financial journey with Shika.

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Oluwatobi Olowe
Oluwatobi Olowe

Tobi Olowe has over 3 years of experience as a content writer specializing in Tech discoveries, site optimization, building content that rank well and boosting overall site performance.

Articles: 151

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