Cassey Tash
Lister
Branch is a loan application that offers reliefs to its users who would like to get easy and less amount of money for a short period of time. The users are offered loans that last between 1 to 68 weeks of borrowing depending on amount granted.
Branch offers loans that are sent to user's phone within minutes of application. This Loan app offers a wide range of loans from Sh250 to Sh70,000 depending on your credit score and ratings.
A borrower can grow their loan limits by repaying the amount borrowed on time or requesting for a loan several times. A limit can decrease if a customer fails to repay or default their loans.
Branch loan app has an interest rate of between 1% to 21% depending on the amount borrowed.
A borrower does not need to have saved a certain amount of money with Branch in order to access/ receive a loan neither does a customer have to present a guarantor or collateral to be eligible for one.
Requirements to access Branch loans
How to apply for a Branch loan
Branch offers loans that are sent to user's phone within minutes of application. This Loan app offers a wide range of loans from Sh250 to Sh70,000 depending on your credit score and ratings.
A borrower can grow their loan limits by repaying the amount borrowed on time or requesting for a loan several times. A limit can decrease if a customer fails to repay or default their loans.
Branch loan app has an interest rate of between 1% to 21% depending on the amount borrowed.
A borrower does not need to have saved a certain amount of money with Branch in order to access/ receive a loan neither does a customer have to present a guarantor or collateral to be eligible for one.
Requirements to access Branch loans
- An android smartphone
- National Identification number
- A registered Safaricom mobile number
- Internet connection
- Go to Google Play store and search Branch Loan App
- Select the one with a 'Branch' logo and click on install
- Once it has completely downloaded, click on open to access Branch app
- On the app's home page, click on create an account and fill in your personal information as requested; this include your mobile number. full name and ID number
- Ensure your mobile number is active, this will enable you to receive a confirmation code for activation; enter the code on the blank spaces provided on the app.
- After filling everything correctly, connect your phone number, camera, phone book with the app by agreeing with the terms and conditions of Branch
- Location
- Text messages
- Call logs
- Contact list
How to apply for a Branch loan
- Open the Branch app on your loan
- As a first time borrower, the highest loan one can access is Sh1000
- Select the amount you'd like to borrow from a drop down menu provided on the app
- Click ok to submit
- If approved, the money borrowed will be sent to your Mpesa, if declined, you will receive a message of the same from Branch
- Branch does not charge lateness or penalty fees
- With a good credit score, a borrower qualifies for a high loan limit
- A customer receives a loan to their mobile phone within minutes
- No long queues required to access an receive a loan
- Branch does not offer a large amount of loans(in terms of millions)
- They offer a high-interest loans
- Upon registration, Branch can access your contact list, location and text messages
- Once a loan is defaulted, a borrower receives numerous phone calls and text messages asking for repayment.
- Go to tool SIM kit on your phone
- Select Lipa Na Mpesa, then click on Paybill
- Enter Branch's Paybill - 998608
- Enter the account number - this is the mobile number you registered with
- Input the amount you'd like to pay
- Enter your mobile money PIN number
- Confirm and send
- You will receive a confirmation message from both Branch and MPesa
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