Introduction
Zenka Digital Limited is more than just a financial institution; it's a beacon of potential and possibility. Recognizing the importance of timely financial assistance, Zenka is dedicated to empowering individuals by providing the necessary capital to turn budding ideas into reality and address immediate needs. Unlike traditional banks, which often involve cumbersome processes and lengthy waits, Zenka offers a swift and streamlined approach to financial support. By leveraging mobile technology, Zenka ensures that clients can access financial services swiftly and conveniently, anytime and anywhere. This eliminates the frustration of bank queues and prolonged credit evaluations, putting clients first always.
At the heart of Zenka's philosophy is a commitment to fostering growth and development, both personally and professionally, among its clients. The company envisions a world where financial balance and harmony are within everyone's reach, thereby enhancing social equity and creating more business opportunities. By extending a helping hand across all social strata, Zenka not only aids individual advancement but also contributes to the broader societal progress, driving the development of nations and the global community at large.
How It Works?
Zenka Digital Limited streamlines the process of obtaining financial support through a simple and efficient four-step system that ensures money can be in your account within minutes after registration. Here's how it works:
Download the Zenka App
Start by downloading the Zenka App directly from the Zenka.co.ke website. Once downloaded, install it on your mobile device to begin your financial journey.
Fill the Application Form
After installation, open the app and select the amount of money you need. The app will guide you through a straightforward registration process where you can sign up and submit your loan application.
Receive Money on Your M-Pesa
Upon submitting your application, it will be quickly evaluated. If approved, the funds will be transferred directly to your M-Pesa account, ensuring you have access to your money when you need it most.
Repay on Time and Build a Positive Credit History
Zenka encourages responsible financial behavior. Timely repayment of your loan will not only increase your credit limit but also improve your credit history, allowing you to qualify for higher loan amounts in the future.
This efficient system is designed to support your financial needs without the usual hassles associated with traditional banking methods.
Zenka Loan App Main Characteristics
Zenka Digital Limited offers flexible and transparent financial solutions designed to accommodate various needs and financial situations. Here are the key characteristics of the loans offered by Zenka:
Flexible Loan Terms
Customers can opt for loan terms of up to 61 days, providing ample time to manage repayment in a way that suits their financial situation.
Interest and Fees
The interest rates for loans range from 9% to 39%, depending on the risk assessment and loan amount. Additionally, there is a one-time processing fee, which varies between KSh 45 and KSh 5,800.
Loan Amounts
Loans start as low as KSh 500 and can go up to KSh 50,000. For those who consistently meet their repayment deadlines, Zenka offers the opportunity to increase their borrowing limit to as much as KSh 30,000.
Example of Loan Costs
For a clearer understanding, consider a 61-day loan of KSh 1,000. The interest for this loan would be KSh 290, making the total amount repayable KSh 1,290.
Extended Repayment Options
Zenka also provides an extended repayment option known as ZenkaFlexi, which allows customers to extend their repayment period up to 12 months, offering greater flexibility in managing larger loans.
Repayment Freedom
There is no minimum payment period. Customers are free to make payments towards their principal at any time after disbursement, allowing for more control over their financial obligations.
APR and Additional Costs
The maximum effective Annual Percentage Rate (APR) is 180%. It’s important to note that the terms and conditions highlight risk-based pricing, which means the costs may vary based on the customer’s credit profile.
These features make Zenka an attractive option for those seeking quick financial assistance with the flexibility to manage repayments according to their own financial pace and progress.
Contacts
For any inquiries, support, or further information, you can reach out to Zenka Digital Limited through the following contact details:
Address
Mirage Tower 2, 12th Floor, P.O. BOX 29107-00100, Nairobi, Kenya
Phone
+254 (0) 207650878
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