Branch Loan App - How to borrow and repay. See application & loan limit

What is Branch loan App?

[Update: 14.01.2022]

Branch is a loaning company that exists in Kenya, Tanzania, Mexico, and Nigeria. The branch is built on the philosophy that loaning is not controlled and they give you money for the way you live.

Branch does not charge any late or rollover fees nor have any usage restrictions. With Branch, the higher your loan limit the higher the repayment period. Branch believes in being transparent with their loaning activities and upfront with their lending terms.

Where can I download the Branch loan App

There are two ways of accessing the branch loan app;

The Branch loan app can only be downloaded on the Google Play store.
To download Branch loan App, text ‘Easy’ to 22463. A link will be sent to you, directing you to download the application on the Google Play store. This message is free of charge.

Eligibility and requirements to get a loan from Branch

To be eligible for a loan from Branch, you should;

be aged 18 years and above.
Have a national ID.
On top of that, Branch looks at the following information to ascertain your eligibility for their loans.

Who can access Branch loans.

The mobile generation- anyone who owns or can access a mobile phone.
Small business owners- locals with small businesses.

How do I apply for a loan at Branch?

After downloading the Branch App from the Google Play store,
create your account by filling in the details required. (You can also log into Branch using your Facebook account).
Ensure that the number used for registration is your active M-Pesa mobile number.
Apply for a loan.
After applying successfully, the money will be sent to your M-Pesa or bank account.

Disbursements and repayments at Branch

When you apply and get approved for a loan with Branch, The money should reflect in your Mpesa account or bank account in less than 10 minutes if not immediately. Will you get the full amount? Yes! Branch will send you the full amount that you borrow and not deduct any fees upfront.

The minimum loan you can borrow from Branch is Ksh 250 and the maximum is Ksh 70,000.

To repay your Branch loan use Paybill number 998608 and your phone number as the account number. In the case of overpayment, there is no refund. Branch will retain the balance in your account to repay your next loan.

The Exact cost of a loan at Branch & a representative example.

Before you download any mobile lending app, it’s important to be aware of the costs, interest and periods offered. For Branch the figures will look like this.

Loaning periods: 4 – 52 Weeks.
Late fees: No late or rollover fees.
Interest rates: 17% – 35% interest.

1.7% – 17.6% is the equivalent monthly interest. The equivalent APR = 22% – 229%.

Promotions and Rewards from Branch

Unlike Zenka that allows you to withdraw your bonuses in cash, Branch will use your bonus to deduct from the amount of the principal you owe. You can use this to your advantage by referring friends and reducing your repayment bill.

Earning higher loan limits on Branch earns you longer loaning periods
You can earn Ksh 500 by referring your friends to Branch, check their Facebook or Twitter page for these promotions.

What are the penalties for late payment of Branch loan?

Unlike many loaning Apps, Branch does not charge for late fees and rollover fees.

Failure to totally repay your loan after numerous warnings will lead to being listed on the Credit Reference Bureau list for defaulters. You can only borrow loans in the future from elsewhere after clearing with the CRB.

It is important to check the Branch loan terms and conditions to understand the terms of using their services.

How can you contact Branch?

You can contact Branch loan app through social media on Instagram, Facebook, and Twitter. For additional support, you can reach out to them on email through [email protected].

You can also visit the Branch website for more details. If you are a member of the press and you would like to contact Branch, reach them through [email protected]