If you have not heard about Haraka loan app, then you are missing out on big opportunities to get instant mobile loans to your M-Pesa. Haraka loan app is one of the most preferred loan apps in Kenya among other loan apps like Tala and Branch. The Haraka app sits top on the list of best mobile loan apps in Kenya.
A quick search on the traffic that Haraka mobile app receives will reveal to you that it is one of the most popular loan apps not only in Kenya but also in several other African countries.
About Haraka loan app
Haraka mobile loan app is a product of GetBucks which is a finance company in South Africa. Due to their extensive experience in money transfer and lending, the app has managed to extend its wings to the following countries: South Africa, Kenya, Tanzania, Zimbabwe, Swaziland, and Uganda.
Haraka loan app has a decent loan limit that is bound to increase as you continue to build your credit score. When the loan app was new in the market, they were giving loan limits of up to Ksh. 5000 on the upper side.
That has changed as the app continues to grow in leaps and bounds. Today the app can give you more than $5000 based on your creditworthiness.
Sure the loan limit may seem small but I am pretty sure you have never received an equivalent of the same amount from any other loan app.
What makes Haraka loan app unique is the fact that their loan limits are small but they are almost a guarantee. Most people who have applied for loans from the Haraka finance app can bear me witness.
How to apply for Haraka loan app loans
Haraka app is a game-changer when it comes to lending money fast. Just like the name suggests “haraka” which means “Fast”, the app dispenses loans in minutes to M-Pesa after approval. It is players like Haraka mobile loan app that have forced monopolies to reinvent their businesses.
Today, Banks have realized that people’s focus has been swayed to mobile loan apps. In a move to lure them back, banks have made their loans attractive in the sense that, they have complied with the interest caps from CBK.
Loan applications from banks have also been made easier compared to the day of the past where loans we issued to Kenyans on a priority basis.
Haraka mobile loan app is a handy app that can help you with small loans to equipoise your financial situation. I am going to guide you step by step on how to apply and qualify for a loan from Haraka mobile loan app.
I will finish off the article by showing you how to repay the loans you owe to Haraka. Let us now see how you can borrow from Haraka finance app
- It all starts with downloading the Haraka app
- Go to Google Playstore
- Search for Haraka app
- Download and install the app
- Register using your Facebook Account
- Enter all the information necessary. (Make sure you give genuine and true information)
- They will ask for; your full Names, National ID Number, Date of birth (DOB), & Email address
- Enter your M-Pesa Number (Wallet Number)
- Apply for a loan after setting up your Account
How to Qualify for Haraka Loans
Haraka has an interesting way of determining who qualifies for a loan and who does not. As such, it is important to ensure that you give the right information when registering for an account.
You have to be between 18-60 years in order to qualify for a loan from Haraka finance app. Younger or older applicants beyond the specified age will automatically be denied loans.
Based on the information given to the machine learning algorithm, the loan determines your loan amount. You should ensure that all the loans you apply for are equal to or less than the loan limit granted to you. I recommend taking a loan that is equal to your loan limit as it facilitates the improvement of your loan limit.
Ones you have qualified for a loan, the equivalent amount will be sent to your M-Pesa account. All loans attract a fixed interest rate of 23% and should be repaid in 30 days. Haraka loan app is a blessing in disguise that can save you when you are in deep financial need.
The interest rates charged by Haraka app may be on the higher side but that comes with a lot of convenience and ease of getting a loan. I guess you have to appreciate that they take a huge risk by giving loans to people who do not even qualify for loans from other mobile loan apps.
How to Repay Haraka Loans
There is only one way of repaying Haraka loans and that is through M-Pesa. Again I emphasize the importance of repaying your loan. Just like I have written the article for you showing how you can qualify for a loan, make sure you also follow my advice and repay your loan.
Repaying your loans builds a strong credit score for you hence you qualify for loans easily from other lending apps. Follow these steps to repay your Haraka loan.
- Go to M-Pesa menu on your phone
- Select ‘Lipa na Mpesa’
- Pay Bill (Enter Pay Bill 817910)
- Account number (Enter your phone number)
- Amount (Enter the amount you should repay)
- Enter your M-Pesa Pin
- Authorize the transaction
That is our short review and guide of the Haraka loan app. should you have any questions, leave us a comment. Also, feel free to tell us about your experience with Haraka mobile app.