What we know about Kashway loan App
Information regarding Kashway on their website is scanty. Kashway is a company owned by Wakanda Credit and offers digital loan services to Kenyans. Their services are fast and reliable. Kashway is one of the few lending companies that have a track record for fast payments when a customer borrows from them. Apart from that, it is just an ordinary service with ‘meh’ Pizzaz.
The layout of their website could use a proper upgrade and have more life as it is plain as a pamphlet.
Where can you download the Kahsway loan App?
Your android version should be 8.0 and above.
The Kashway loan app cannot be found on Apple store, and neither can it be accessed through USSD.
How much is the exact cost of a loan from Kashway & a representative example?
Taking a loan from any app is pretty straightforward. Unless compound and sim[ple interest was not your forte in school, here is a representative example of how borrowing from Kashway looks like.
Example: If the loan amount is 6000 Ksh, the loan term is 61days, and the Interest rate is 16%, the total Interest should be 6000 Ksh * 16% = 960 Ksh. Here the total cost of the loan will be principal (6k) + interest (16%)
Should you exceed your intended loan period, yes. Kashway will charge a late repayment fee that will incur a penalty of 2%per day.
Disbursements and repayment at Kashway
Kashway has to be one of the few loan apps that disburse money quickly to your Mpesa. There are no complaints there. Matter of fact we give them a 4 for just that.
One thing to note here is that disbursements from Kashway are different. The amount you borrow will not be the exact amount that you will get. For example, if you borrow Ksh.2800, Kashway will credit your Mpesa account with Ksh.2000. If it is Ksh 2000 you borrow, you will be given Ksh.1400.
To repay your Kashway loan, you can use their pay bill number, which is 900068 with your phone number as your account number. ( It has to be a Safaricom registered line.) Also, yes. Someone can pay for your Kashway loan. They have to input the phone number that borrowed the loan as the account number.
If you are late with repaying your Kashway loan, you will incur a 2% late repayment fee per day.
When and if you overpay your Kashway loan, you will be reimbursed the difference after 15 days.
Promotions And Rewards From Kashway Loan App
Kashway, like some apps, has the refer a friend feature on their platform and you can get a coupon for up to Ksh. 800. Interested in getting the Kashway coupon? Here is how.
Step 1. Update the app to the latest version.
Step 2. Go to the home page and click invite friends then click invite now.
Step 3. Choose how to share the invite and send.
Keep in mind that the repayment coupons for Kashway have a validity period. Some will go for 5 days and others up to 21 days. Ensure you check the validity of yours once you get it.
How much are the Kahsway Interest rates?
On average the minimum you can be charged interest from Kahsway is 16% and the maximum is 35%.
For late repayment, Kashway charges a rate of 2% per day.
Is my information and data with Kashway safe and secure?
As with all lending platforms, data from your phone is what Kahsway uses to determine your eligibility. The SMS log on your phone and Mpesa transactions dating back to 6 months is what Kashway uses to determine your credit score.
It is public information on how lending apps determine your eligibility when you borrow from them. It will, however, depend on the lending company on the access they need from your phone, and for that, your consent is required upon registration. Some apps will not run if you deny access to your phone data.
Kashway also runs your information through Metropol CRB ( Credit Reference Bureau ) to check your lending history with other financial institutions.
Concerning the safety of your data, the Kashway app is safe to use and will encrypt the data the client chooses to share with them to protect their privacy.
How do I contact the Kashway loan?
To contact Kashway, you can use these channels.
Facebook is a bit interactive with a day to 3 days response. Try your luck there.
You can directly contact them at +254748449406.
Instagram and Twitter account for Kashway are unavailable at the moment.