Shika is a mobile application with services of lending instant loans to different people who qualify in less than three minutes. It has options of how best you want to pay your loans, i.e. daily, weekly, or one-time payment.

How to apply for a Shika loan?

If You want to get fast loan from Shika, first You have to download the Shika Loan app. Shika loan application can only be downloaded from the Google Play Store.

Before registering on the Shika loan App, you will need the following;

  • A valid national ID
  • Safaricom M-Pesa registered number
  • An Android-powered smartphone
  • Steady internet connection

How soon does Shika transfer the loan

How fast can you get a loan? Getting a loan from Shika is fast and easy and takes approximately three minutes after You send the request. Follow these steps to get your Shika loan;

  • Download the Shika mobile loan app from Google Play Store.
  • Sign up on the Shika loan app, adding correct details required (for new users).
  • Log in to your Shika app using your phone number and Shika PIN on the home screen.
  • You will go to the Shika menu screen
  • Tap “request loan” on the menu.
  • Enter your loan amount subject to your Shika loan limit.
  • Click “request” and wait for your loan to be approved.
  • The money is sent to your M-Pesa account within three minutes after your loan approval.
shika loan

How to pay back Shika loan?

To pay back your Shika loan via M-Pesa;

  • Go to your M-Pesa Menu
  • Select “Lipa na M-Pesa”
  • Select PayBill
  • Enter 811655 as the business number
  • Enter the phone number you registered with as your account number
  • Enter the amount you want to repay
  • Enter your M-Pesa pin and press OK
  • You will instantly receive a transaction confirmation message from M-Pesa.
  • You will also receive a message from Shika stating that you have repaid your loan.

Via Shika loan app;

  • Click ‘Repay’ on the App’s Home page
  • Click ‘copy’ to duplicate the Shika loan Paybill number 811655. The app will automatically direct you to a new screen.
  • Click ‘Repay ‘again. You will be redirected to your Mpesa menu to enable you to make your loan payment.

Note: you can pay back with daily instalments or weekly instalments.

For details read more:
Loans terms and conditions

FAQ section

Who can get a Shika Loan?

  1. To qualify for a loan, you will need at least four months of active M-Pesa transactions.
  2. For Shika to approve your loan, you must have a good loan history with other loans lenders (including banks and financial institutions) and not listed as a defaulter by the CRB.
shika loan app

Credit limits in Shika

  • Shika will let you know how much you can loan upfront and how much you will pay back upfront. There are no hidden charges.
  • Shika offers minimum loans of Kshs. 500 and maximum loans of Kshs. 10,000 up to 60 days.
  • You can borrow as much within that range as long as your credit limit allows.
  • A good loan reputation, constant borrowing, and paying back in time will build your loan limit, therefore, allowing you to borrow bigger loans from Shika.

With Shika, you are rewarded by earning higher loaning limits every time you pay back your loans on time.

How much does Shika loan cost? Interest rates

  • Shika loan runs on an interest rate of 15% for 30 days on any loan amount borrowed.

Penalties – what if I don’t pay Shika loan on time?

  • The thirty-day loan defaulters are subjected to payment of an extra 10% charge on their loan.
  • If the loan is not paid within 60 days, the debtor is reported to and listed on the Credit Bureau of Kenya. 

Why and who can benefit from Shika App?

Why people choose Shika? It comes with a few advantages: shika loan app

  • Shika offers loans quick and fast
  • It has options of how best you want to pay your loans, i.e. daily, weekly, or one-time payment
  • Shika is secure to use and has quick loan limit growth
  • This app is a right choice for small business owners who often need money urgently.
  • Shika promises predictable loan limits to people with emergencies who need quick loans and have low loan limits.

Shika loan – opinions

  • Shika has helped small business owners grow their business with quick loans, check out such a beneficiary in this video.
  • Many food vendors have also benefited from this app. Check out this testimonial.

To get an idea of how Shika works, check out this Facebook Video

Video explanation:

  • Download the Shika app from the app store
  • Create your account by filling in your details with your Mpesa registered Safaricom number.
  • Apply for a loan according to your limit.
  • Receive loan through your Mpesa number.
  • Pay your loan in time to increase your loan limit.

How to contact Shika?

To know more about Shika loans, look them up on social media; FacebookTwitter, and on their Shika loan website.

Call them on 0742 143999

Or email [email protected] for further customer services.

For any general information, check

Shika has offices located at the Orbit Place, 4th floor in Westlands, Nairobi.

Shika belongs to a financial technology company; Alternative Circle and has been in existence since March 2016.

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