What we Know about Zashloan

[Update: 23.03.2022]

Zash is a loaning app that aims to provide Kenyans with quick loans aimed to help netizens through unforeseen financial difficulties.

Surprisingly, they are also one of the few apps, that call your contact list when you default on your loan! Nonetheless, Zash tries to solve the financial problem of lack of credit access to both employed and self-employed citizens.

The main features of the Zash loan are; simplicity in use, fast in offering loans and security of the loaning process. Regardless of short repayment periods.

Where to Download the Zash app?

The Zash loan app can only be downloaded from the Google play store.

It is unfortunately not available in Apple stores. and there is no USSD option for users without smartphones.

The Exact cost of a loan with Zash & a Representative Example

The minimum loan amount you can borrow from Zash is Ksh.500 while the maximum is Ksh 50,000. 

Know first that before Zash sends you any money, they will charge you an origination fee depending on the product you choose.

So, If you choose a loan limit of KES10,000 with a period of 1 year, after deducting service fees, the total interest must be paid: 10,000 * 0,0005 * 365 = KES1828.

The service fees charged are used for credit scoring assessment, account management and payment cost.

 To further understand some personal reviews, visit their Google app review section to check different customer experiences on taking a loan with Zash.

Zash Loan App

Eligibility and requirements to get a loan from Zash

To qualify for Zash loans, you ought to be a Kenyan citizen between 18 – 60 years and have a monthly source of income.

Worried about the safety of your data with Zash loans? What Zash do with your information is to transfer it over a secure HTTPS connection and not share it with anyone without your consent except the Lenders. All the transactions are secured via 128-bit SSL encryption.

The information gathered from your phone are the standard, contact list, phone data, status of work, CRB, SMS transaction history and other checks that Zash see as important to help determine your credit score.

Information gathered from your phone might be shared with third-party and collection agents in case of default. Will they call people from your contact list if you don’t pay? Don’t wait to find out! repay your loans on time.

Zash Loan App

How to borrow a loan from Zash loan app

You will need to fit the following registration requirements to get a Zash loan.

  1. Registered mobile number. ( Safaricom.)
  2. National  ID number.
  3. Names should match with the ID. 
  4. Place of work.
  5. Physical address. 
  6. Emergency contact details.
  7. Android version should be 4.4 and above.
  8. Handhold photo. ( A photo of you holding your ID card on our chest. Yes exactly like if you were a convict.

Got all of the above? 

  • Install the app,
  • Register and fill in the correct details,
  • Select the product you want to apply for,
  • Fill in standard information and upload required docs.
  • The results of your application will be shown in the app and sent via SMS if approved.
  • E sign the loan agreement, and the loan gets approved.

Did you follow the above steps and are still unable to get a loan from Zash?

Your loan application may have failed because of : 

  • Your repayment capability.
  • Wrong information provided.
  • Credit reference bureau ratings.
  • Working status.

Zash loans only allow you to take up one loan at a time. Therefore, clear your first to be applicable for another. Each Zash loan is charged a  different service fee depending on the amount and duration chosen on the loan.

Zash Loan App

Disbursement and repayment of Zash loans

Once your loan is approved, you can receive your money via Mpesa or your bank account within 2 hours. However, if you chose to deposit into your bank account, it will take at least 48 hours to reflect.

Pay bill 733555 is the number to use when repaying your Zash loan. The phone number used for registration and borrowing is the account number. (Transaction fees are not charged).

For late payments, you will incur a 2% penalty fee per day for the first 15 days. This will then increase to 3% per day for the next 15 days. At the same time, your debt will be rounded to the nearest Kenyan shilling.

Kindly note being unable to access mobile loans is a result of defaulting and late repayment of existing loans on other lending platforms.

How much are the Zash loan Interest rates?

The maximum interest rate for Zash loan is 20 per cent, whereas the APR is 24 per cent. Loan interest is determined by considering many factors, including the current market rates.

Promotions and rewards from ZashLoan 

Zash loan has no reward schemes or promotions last time we checked apart from the airtime discount.

How do I contact Zash loan?

Facebook @zashloan is their most interactive platform as they seem to be there a lot.

For more serious or in-depth queries, send an email to [email protected].

Here is a phone contact to use if you want to communicate directly. +254, 0111 008008. Good luck with this one though.

For Whatsapp try: 0732896849.

The Zash Website is not very interactive, but you can check it out.

If you prefer to visit their offices, Zash physical address is:

Tetezi towers, One Padmore Place- George Padmore Road. Nairobi, Kenya.

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