Branch Loan App

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.

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Requirements to access Branch loans

  • An android smartphone
  • National Identification number
  • A registered Safaricom mobile number
  • Internet connection
With all the requirements in check;
  • 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
By agreeing to terms and conditions provided, you allow Branch to access your;
  • Location
  • Text messages
  • Call logs
  • Contact list
This information is used to verify a borrower's identity and to allow Branch to send messages to your mobile number and even call you just for inquiries.

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
Advantages of Branch loans

  • 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
Disadvantages of Branch loans

  • 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.
How to repay a Branch loan via Mpesa

  • 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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