Haraka mobile loan is the quickest and most convenient way to get a nano-loan while you’re on the go. Haraka can offer you access to credit; anytime and anywhere on the comfort of your mobile phone. The service does not require your bank account details or credit history. In order for Haraka Mobile Loans to facilitate quick and easy loans, it makes use of the data on your phone. Credit scoring, affordability, eligibility and identity verification is determined by scanning your Mpesa (mobile wallet) SMS transaction messages, call logs, and other phone data. The data is used to determine your financial and non-financial behavior, transaction history, and identify financial fraudulent activity.
Here are a couple of things you should know before you apply for a loan from Haraka.
- To qualify, you must be between 18 and 60 years old
- Low range application limit is between Ksh 500 to Ksh 5,000 while the high range application limit is between Ksh 10,000 to Ksh 50,000
- The loan amount attracts an interest of 23% per month
- You must repay your loan within a span of 30 days
How to apply for Haraka mobile loan
To apply for Haraka loan, follow these steps.
- Download the Haraka Mobile Loans app
- Create your account by logging in to Facebook
- Enter your details
- Full name
- National ID number
- Email address
- Mpesa number i.e Wallet number
- Date of birth
- Agree to the use of your phone data
- Choose your loan amount within the provided loan limit and click ‘Proceed’
- Check your Mpesa account for your money
How to repay Haraka mobile loan
You can repay your Haraka mobile loan easily, using your Mpesa account. Follow these steps to repay your Haraka loan.
- Go to Mpesa menu on your phone
- Select ‘Lipa na Mpesa’ option
- Select ‘Pay Bill’
- Enter 817910 as the paybill number
- Enter your phone number as the account number
- Enter the amount of money you want to repay
- Enter your Mpesa PIN
- Press ‘OK’ to initiate the transaction