Information and Reviews

Update:[09.05.2022]

From the look of things on Google reviews as well as social media reviews, this app is just like Okash but not better. Mainly because in case of default, Fairkash will call people in your contact list.  But, before they do that, you get a text reminding you of this before putting your business out there.  3/10 for definitely crossing that privacy line.

Loans in Kenya: Their use and reasons for borrowing

How to Get a Loan With Fairkash

Other than that their loan services fit the basic criteria of borrowing a mobile loan from a lending app. Download, Register, check limit and apply.

The app offers 0 service fee on taking a loan however loan borrowed is not loan amount received.

Requirements to Get a Loan With Fairkash

  • Be a Kenyan Citizen above the age of 20.
  • Have a Safaricom registered line.
  • Allow the app to access contacts, SMS e.t.c.

Representative cost of a loan with Fairkash

If you take Ksh.1000 for 6 months it incurs interest of 1.3%/month. Therefore interest is Ksh.79 per month.

That is, the total amount repaid is Ksh.1074 and the monthly instalment payment totals Ksh.179.

Therefore, the monthly payment is 79*6 months = Ksh179, plus the total repayment of the loan at Ksh.1074. 

In general, all costs included, you will repay Ksh.1,253 for the Ksh1,000 borrowed.

*Calculation is representative, contact Fairkash for an estimate on your loan.

Amount, Interest and Repayment Periods

Fairkash loans are tailored for small businesses. The maximum loan accessible from their app is Ksh.50,000. There is yet evidence of anyone getting more than Ksh.10,000.

Official Interest rate ranges from 16%-21% and depends on the repayment period and loan terms.

As for the repayment periods, you get to choose 81, 120 and 180 days from the App.

Disbursements and Repayment of Fairkash Loan

First-time borrowers get their loans to Mpesa from Fairkash in 5 minutes. When it comes to repayment, customers need to pay using paybill 4074255. You can either make full or partial payments. ( Transaction costs apply.)

Where to Download the Fairkash Loan App

All apps regardless are motley available on Google PlayStore. Follow the link to access the Fairkash loan app. Unfortunately, it’s not available on Apple Stores.

There also isn’t any USSD option to access Fairkash loans.

Pros and Cons of the Fairkash Loan App.

Pros: Fairkash allows partial payments on your loan before the due date.

Cons: They send you a dozen reminders in CAPS when your loan is due. A text is however sent before, to inform you that they will be calling your referees as you defaulted and accepted collection processes during registration.

How to Contact  Fairkash

Email at [email protected] or [email protected] to get assistance on any app hindrance. 

Prefer to call? Their customer service number is 0793263022. Alternatively Whatsapp: 743736277.

There are no verified social media handles for Fairkash. Maybe use the Google reviews on Google Playstore to get a response.

OKash vs other mobile lenders

Mobile Loan Apps in Kenya (payday loans via app or ussd)
Loan amount KES
Term days
Loan cost:
0.00KES
RRSO:
0%
Total loan cost:
2000.00KES
Możliwy zakres pożyczki

kwota:

od 500.00

do 20000.00

okres:

do 1 dnia

do 30dni

17937
Osób wybrało tę ofertę
Choose this offer
1
Loan amount
From KES500.00 to KES20000.00
FIRST LOAN FOR FREE (0% COMMISSION, 0% INTEREST, NO REGISTRATION FEE)
Loan term
From 1 days to 30 days
Available via USSD
Yes
*841#
Extensions
Yes
Loan extensions are a feature that gives you more control over your loan by letting you postpone your due date by 7, 14 or 30 days.
More information
Downloading and using Zenka loan application is straightforward and it takes less than three minutes to sign up and apply for a loan. Upon approval, money is sent directly to your phone via Mpesa. Additionally, Zenka Finance provides a fast, reliable and convenient way to access a loan whenever you need it. What makes Zenka loans ideal for any Kenyan is that the loans do not need any collateral, they get approved fast, and an individual can access higher loan amounts at a low fee.
Loan cost:
220.00KES
RRSO:
513%
Total loan cost:
2220.00KES
Możliwy zakres pożyczki

kwota:

od 2000.00

do 30000.00

okres:

do 21 dni

do 30dni

7356
Osób wybrało tę ofertę
Choose this offer
2
Loan amount
From KES2000.00 to KES30000.00
Loans up to KSh 30,000.
Loan term
From 21 days to 30 days
Fees from 5-15%.
Available via USSD
No
Extensions
No
More information
Tala is a lending company that was initially called ‘Mkopo Rahisi.’ It has been operating in Kenya since 2014. The company has an android application where registered users can access instant loans using their smartphones without any need for collateral.
Loan cost:
260.00KES
RRSO:
737%
Total loan cost:
2260.00KES
Możliwy zakres pożyczki

kwota:

od 500.00

do 10000.00

okres:

do 2 dni

do 30dni

5783
Osoby wybrały tę ofertę
Choose this offer
3
Loan amount
From KES500.00 to KES10000.00
Loan term
From 2 days to 30 days
Available via USSD
No
Extensions
No
More information
Okolea Loans are digital loans deployed via an android app called "Okolea" which is readily available on Google Play Store.
Loan cost:
336.00KES
RRSO:
1387%
Total loan cost:
2336.00KES
Możliwy zakres pożyczki

kwota:

od 2000.00

do 10000.00

okres:

do 14 dni

do 14dni

4066
Osób wybrało tę ofertę
Choose this offer
4
Loan amount
From KES2000.00 to KES10000.00
Loan term
From 14 days to 14 days
Available via USSD
No
Extensions
No
More information
Looking for Quick loans cheza cash in Kenya? OPesa offers the fast and affordable loans to you. No paperwork, collateral or office visits needed. You just need to install the APP, fill the questions, and make the application. The money will be credited to your M-Pesa account in a few minutes. Easy to get Cash here.
Loan cost:
600.00KES
RRSO:
9460%
Total loan cost:
2600.00KES
Możliwy zakres pożyczki

kwota:

od 500.00

do 10000.00

okres:

do 21 dni

do 30dni

3431
Osób wybrało tę ofertę
Choose this offer
5
Loan amount
From KES500.00 to KES10000.00
Loan term
From 21 days to 30 days
Available via USSD
No
Extensions
No
More information
The new GetBucks app aggregates your data to show you a seamless overview of your financial landscape.
Loan cost:
700.00KES
RRSO:
18322%
Total loan cost:
2700.00KES
Możliwy zakres pożyczki

kwota:

od 500.00

do 50000.00

okres:

do 1 dnia

do 30dni

3890
Osób wybrało tę ofertę
Choose this offer
6
Loan amount
From KES500.00 to KES50000.00
Loan term
From 1 days to 30 days
Available via USSD
No
Extensions
No
More information
Berry, Kenya’s newest mobile money lending App, credits you with low cost loans with flexible repayment schedules. Get the cash simply and swiftly straight to your mobile wallet.

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