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Ever had a time when you needed some extra cash? Maybe an unplanned bill arrived, or you have an awesome opportunity that you don’t want to miss out on but need some money upfront. That’s where the Watu Credit Loan App comes in.
You may be familiar with Watu through their “Watu Simu” program, which is designed to help people finance smartphone. Now, they are introducing a convenient way to apply for loans right from your phone. The Watu Credit Loan App can serve both new customers and those with experience in Watu Simu.
Watu Credit Loan App provides loans under their Watu Simu service, allowing you to borrow up to KES 50,000. The app also has very competitive interest rates so you don’t end up paying more than what is necessary.
Besides loan applications, you can also run the Watu Credit Loan balance check directly through the app. This will help keep track of your repayment schedule and avoid any late fees or penalties.
In this article, we’ll take you through the process of applying for a loan using the app, and even show you how to run the Watu Credit loan balance check if you’ve already borrowed from Watu. Let’s get started!
Watu Credit is a dynamic, rapidly expanding non-bank credit company that employs technology to offer both secured and unsecured loans, primarily via mobile applications. Watu Credit, headquartered in Mombasa (Nyali), aspires to be Africa’s premier provider of a diverse range of inclusive financial solutions supplied quickly, efficiently, and professionally via technology.
The company began operations in July 2015 with a clear objective of becoming the greatest provider of short and medium-term loan solutions suited to the specific needs of target clients and provided via mobile technology.
The company offers asset financing (motorcycles and three-wheelers) as well as group lending solutions (short-term and business loans), and it is actively expanding with 19 branches in Kenya and wants to expand into Uganda and Nigeria. Watu Credit takes pride in providing cashless loan disbursement and collection services, as well as 24-hour access to account balances.
The company is a specialty asset finance company that focuses on social enterprise. Watu Credit is continually reinventing itself, trying to increase its market position while also empowering a disadvantaged and low-income part of the developing world’s population.
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The app has some unique features that set it apart from the other lending apps on the marketplace. The following are the primary features of this app:
Watu Credit Loan App is a simple application process. Your application can be completed in a few minutes by providing basic information such as your name, ID number, and mobile number. After submitting your application, you will receive a response within minutes.
Watu Credit Loan App offers customizable payment periods, allowing you to choose the repayment period that works best for your financial situation. You may also choose to pay back on a weekly or monthly basis, whichever is more convenient for you.
The Watu Credit Loan App offers cheap interest rates, making it an affordable solution for debtors. The interest rates are generally computed depending on the loan amount and the repayment duration, ensuring that you only pay what you can afford.
Unlike traditional loans, the Watu Credit Loan App doesn’t demand collateral. This strategy allows you to apply for a loan even if you have no assets to submit as collateral.
The Watu Credit Loan App provides great customer service, guaranteeing that you receive assistance when you need it. The customer support representatives are available 24 hours a day, seven days a week via phone, email, and live chat.
Watu Credit’s processes are automated. The company provides credit to enable customers to acquire Tuk-tuks and Boda Boda. Watu Credit specializes in asset finance.
This implies they fund the acquisition of two- and three-wheeled automobiles. As a result, Watu Credit does not provide traditional cash loans.
To obtain a Boda Boda with Watu Credit, you must submit a down payment of Ksh20,000. The down payment for a Tuk-tuk is Ksh50,000.
Also Read – Top 15 Mobile Loan Apps in Kenya For Instant Loan
To qualify for a loan with Watu, you must have:
If you meet all of the standards listed above, Watu Credit will quickly approve you for a Boda Boda loan. If the approval process takes longer, the loan officer will offer a day when you can pick up your asset.
Before you leave with your asset, make sure you have a copy of the loan agreement, as it will help you if you disagree with the lender later.
Watu Simu is a Kenyan program that offers financing solutions to help people buy smartphones at lower prices. Instead of paying the whole amount upfront, Watu Simu allows you to divide the cost of a smartphone into regular installments.
This is how Watu Simu operates in detail:
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To apply for a loan using the Watu Credit Loan App, complete these steps:
To check your Watu Credit loan balance, phone *876# and follow the directions to access Watu Credit’s online services.
Steps to Check Your Watu Credit Loan Balance:
1. Enter the USSD code *876# on your phone.
2. Choose the “My Loan” option.
3. Then choose Check Balance.
When checking the balance, your mobile service provider’s usual SMS/call fees may apply.
You can check your Watu Credit balance by sending an SMS to Watu Credit Customer Care at 0800 202 777, where a member of their team will give you your loan balance. Alternatively, you can stop by any of their branches across the country.
Also Read – Tala Loan app: How to Apply for a Loan
You may quickly pay your Watu Credit loan with the pay bill number 650880. The company does not take cash payments. To pay your loan debt, enter Watu Credit Paybill number 650880 and your phone number as the account number.
Steps for paying Watu Credit Loan using Paybill Number 650880:
That is how to repay the Watu Credit loan. If you have any problems, please contact their customer service personnel for assistance.
There are a few ways you can contact Watu Credit. You can contact Watu Credit using the following information:
Watu Credit Limited is a microfinance institute that specializes in sustainable and inclusive lending. Their objective includes sharing and contributing to the economy’s long-term development.
They give access to finance for micro, small, and medium-sized firms. When they serve clients well, they bring a targeted value, as well as the ideals of independence, integrity, and openness.
If Watu’s loan app was useful to you, that’s excellent. You may quickly check your loan balance straight on the Watu Credit loan app, with no need to call or visit branches. Always remember that Watu Credit is here to help, so if you’re considering another loan, the application process should be familiar by now!
650880 is the pay bill number for Watu Credit. Watu Credit does not accept cash.
Applying for and receiving a motorcycle or tuk-tuk takes only two hours. However, if unforeseen circumstances necessitate a delay, the front office person in charge will notify you of the date.
To check your loan balance with Watu, phone *876# and follow the prompts. Please be aware that your mobile service provider’s usual SMS/call fees may apply. You can check the account status at any time of day or night.
If the Borrower fails to repay the Loan and/or Interest, or any other sum due or payable to the Lender, the Borrower will be assessed a 0.5% daily penalty on any outstanding balance.
If you have any questions about your phone service, please call Watu Simu Customer Care at 0800 722 245. The team will guide you to the nearest authorized service location where you can receive assistance with phone service/maintenance. My phone is either lost or stolen.