Mobile lending has become a very popular practice in Kenya. Its growing popularity and easy accessibility, has led to a boom in the number of mobile loan services available in the country, as a direct response to the ever growing demand present in the East African nation.
One of such mobile loan services available in Kenya, is Utunzi and in this festive season, this information might just come in handy. Especially now that it is less than 24 hours before the New Year.
Utunzi is a loan service provider that provides users in Kenya with the opportunity to access loans from the comfort of their mobile devices, without needing to hold or own a physical bank account.
What You Should Know About Utunzi Loans
Below are certain things you should know about Utunzi i.e, the features as well as the requirements for your loan application:
- Utunzi does not require its users to pay any registration fee in order to activate their accounts.
- You must be residing in Kenya in order to be eligible for a loan from Utunzi.
- You must have an Android mobile device that can successfully download and install the Utunzi mobile app. This is because the loan service does not support Apple’s operating system; iOS.
- Utunzi does not also have any support for feature phones in terms of a dedicated USSD code or codes for example.
- You do not need to have a bank account in order to acquire a loan from Utunzi.
- You will also need trusted referees in order to acquire a loan from Utunzi.
- Utunzi requires your financial history before giving you a loan. This is because you must have a good loan history with other lending facilities. A good loan history simply means that you pay off your loans and debts on time and you have no due financial obligations, that have been left unpaid.
- Utunzi also offers credit scores to its users. These credit scores are automatically calculated by Utunzi’s tech system.
- While this goes with out saying, the information you provide during your registration process must be accurate in order for your loan to be approved.
- While Utunzi loan rates and durations for loan payments vary with the particular amount borrowed, by paying your loan on time, the loan provider rewards you with better rates for your next loans.
- Failure to pay back your loan will result in you being listed on the Credit Reference Bureau (CRB) list of credit defaulters. This will in turn negatively affect your credit score and hinder your ability to secure loans in the future.
- Failure to pay back your loan will also increase your loan penalties after the due date. This will also negatively affect your credit score and hinder your ability to secure loans in the future.
- You must have a Kenyan ID or Passport number.
- The minimum loan amount with Utunzi is 500 Kenyan Shillings, and the maximum loan amount is 100,000 Kenyan Shillings.
- Your loan once approved, will be sent directly into your M-Pesa mobile money wallet.
How To Apply For An Utunzi Loan Via The Utunzi App
To apply for an Utunzi loan via the loan provider’s mobile app, simply:
- Go to Google Play Store on your android device and search for ‘Utunzi’. Alternatively, you can download the Utunzi Mobile app via this link: https://play.google.com/store/apps/details?id=ke.co.utunzi.Utunzi&hl=en
- As soon as you are done downloading the Utunzi application on your android mobile device, proceed to install and launch the application.
- Once done, create your account by typing in the required details. What that means is; sign up with your phone number and identification number details.
- Confirm your mobile phone number.
- Select the ‘Apply for a loan’ option.
- Next, proceed to apply for your Utunzi loan.
- Type in the amount you will like to borrow from Utunzi. Please ensure that the amount you want is within your loan limit.
- Answer all the questions honestly and correctly.
- Once done, attach a photo of your National ID.
- Add your trusted referees.
- Proceed to submit.
Your requested loan amount once approved, will be deposited directly into your M-Pesa mobile wallet account within minutes. Please ensure that you register on Utunzi app with a Safaricom number that is M-Pesa enabled.
How To Repay Your Utunzi Loan Via M-Pesa
To repay your Utunzi loan via M-Pesa Paybill, simply use the following steps:
- Go to your M-Pesa via your Safaricom SIM Toolkit.
- Once there, select the ‘Lipa na Mpesa’ option on the menu.
- Next, select the ‘Paybill’ option.
- In the field labelled as ‘Paybill Number’, type in 800950. This is the official Paybill number for Utunzi.
- Next, in the field labelled as ‘Account Number’, type in your M-Pesa phone number.
- Once done, type in the loan amount that you would like to repay.
- Type in your unique M-Pesa pin.
- Again, please make sure that all the details you provided are accurate, especially the Paybill Number and of course your phone number. After making sure the details are correct, proceed to submit your payment by selecting ‘Ok’.
Please Keep in mind that paying your Utunzi loan on time will increase your credit score and also qualify you for bigger loan amounts. Ensure that you repay your Utunzi loan before or on the due date to avoid any additional charges.
How To Contact Utajiri’s Customer Care Service
If you are however in need of further assistance from Utunzi, please feel free to reach out to the loan provider’s customer care via the following channels:
- Their official Phone Number: +254720686009
- Their official email address: admin@utunziventures.co.ke
- Their official Facebook Page: https://m.facebook.com/pages/category/Local-Business/Utunzi-Business-1974536779241498/
- Their official Twitter account: https://twitter.com/utunziventures
- Their official website: https://utunziventures.co.ke/
So there you have it! Everything you need to know about Utunzi loans. What do you think about the service? Was this helpful? Will you be securing a loan with Utunzi Loans this festive season or in the nearest future? Please feel free to let us know in the comments section.
As always, we at mpesapay.com will continue to provide more loan options for you as much as we can find.
