To apply for a loan with Fadhili Loan App, users need to download the app and register by creating an account. During registration, users are required to provide some basic personal information, including their name, ID number, and phone number.
Once registered, users can apply for a loan by filling in the loan application form available in the app. The loan application process is quick and straightforward, and borrowers can receive loan disbursements within a few minutes after approval.
Fadhili application offers loans ranging from Ksh 500 to Ksh 20,000, with repayment terms ranging from 14 days to 30 days. The loan interest rates charged by Fadhili Loan App range from 10% to 29% per annum, depending on the loan amount and repayment period.
To qualify for a loan with Fadhili Loan App, borrowers must meet certain eligibility criteria, including being a Kenyan citizen or resident, having a valid phone number, and having a regular source of income.
Fadhili app offers Ksh 300,000 Easy and no CRB check
When applying for the Fadhili mobile loan, your creditworthiness is how Fadhili determines if you will default on your loan agreement, or how worthy you are to receive the requested loan amount by the answers you give.
You should ensure you answer the Fadhili application truthfully and correctly. Even if you are not employed, this doesn’t stop you from accessing the loan. Giving false information may and it’s also illegal.
Your loan application is determined by a collection of information collected from you when applying.
How you repay or have paid your past loans, your Mpesa usage details (it helps to also have 10,000 data points), your current income and your social media activity are some of the information that affects your Fadhili loan application being rejected or approved.
How to pay your Fadhili mobile Loan
When your loan repayment is due, it is best to pay using the MPesa Fadhili pay bill number 995321.
- To pay, using your mobile phone go to the Safaricom menu.
- Then choose MPesa.
- Now choose the Lipa na MPesa menu.
- Choose the Pay Bill option.
- On the business number enter the Fadhili Loan pay bill number 995321.
- Under account number enter your Fadhili registered phone number as the account number.
- Enter the amount you would like to pay.
- Complete your loan repayment by the Enter your MPesa PIN.
Fadhili Fees and commissions:
Fadhili offers unsecured loans for amounts between Ksh 250 to Ksh 70,000.
For loan amounts from Ksh 70,000 to Ksh 10 Million you can only apply for it as a secured loan.
Both unsecured and secured Fadhili have repayment periods between 4 months to 5 years.
The annual percentage rate (APR) which is the annual rate of interest charged to you as the borrower and paid to Fadhili as the lender over the loan you take is between 25% to 240%.
Additionally, there is also an Annual Ledger Fee/Account Maintenance Fee of between Ksh 100 to Ksh 400 depending on the loan amount borrowed.
Unsecured Fadhili mobile loans from ksh 250 to ksh 70,000 can be applied through their app or by dialing 483013#.
Usually, there is a flat fee on the loan amount borrowed, say you borrow ksh 10,000, and you will be charged a flat fee of ksh 2,500, with no late fees or rollover charges.
For secured loans of between ksh 70,000 to 10 Million, you should apply online and then visit Fadhili offices to avail the requested documents to support your application.
Fadhili Loan Contacts:
To get Fadhili loan contacts use the details provided below.
Fadhili mobile contacts: 0 720 686 009 (Kenya if you are calling outside Kenya remember to add +254 and remove the first zero)
For email inquiries: [email protected]
Fadhili loan website: http://www.fadhilimobile.co.ke/
Fadhili Facebook page: https://web.facebook.com/Fadhili-878251965709717/