Saida Loan is one of the best mobile loan apps in Kenya which gives you access to instant loans via M-Pesa. Saida checks how you have been using your phone to make calls, SMS, and data and how you use mobile money services such as M-Pesa to evaluate the amount of loan you qualify for.
It takes around 10 minutes for your loan to be processed.
The app which has more than 500,000 downloads on Google Play requires no paperwork to process your loan. Below are quick steps that you should follow when applying for a loan from Saida.
Download the app from Google Play, create a Saida account and answer a couple of questions.
Saida will check how you have used your phone to make calls, SMS, and data and how you use mobile money services such as M-Pesa. Saida will notify you of the amount of money you can apply for within 10 minutes.
Saida will send the loan to your M-Pesa account immediately and explain the repayment terms.
Saida Loan Interest Rates
Saida loan interest rates start at 7. 5 %.
How much can you borrow from Saida?
You can borrow up to Ksh 25,000 from Saida. Your loan limit will start at a lower amount and improve as you pay back on time. As highlighted earlier, your initial loan limit depends on your usage of SMS/Calls/Internet, M-Pesa, and social media connections.
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How to Repay Saida Loan in Kenya Via Mpesa
1. Go to your Mpesa Menu
2. Select Lipa na Mpesa
3. Select PayBill
4. Enter 854400 as the business number
5. Enter your phone number as the Account Number ( the mobile number you registered with Saida)
6. Enter the amount you want to repay
7. Enter your Mpesa pin and press OK
8. You will receive a transaction confirmation message from Mpesa.
Remember that paying your loans on time increases the amount you can borrow from Saida and failure to repay will see your name listed at CRB.
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Saida maximum and minimum Loan amounts:
There is a maximum and minimum amount of money that you can qualify for when you apply for a loan on the Saida loan app. However, this amount of money depends on the number of things that the app will determine.
How much can you qualify for on the loan app?
The maximum amount of money that you can borrow from the loan app is Ksh. 50,000 once you qualify. The minimum amount of money you can borrow from the loan app is Ksh. 1000. Note this applies to the Kenyan market.