Are you in urgent need of finance? If yes, then you need to try the Haraka loan applications platform. In this article, I will show you a step by step procedure on how to get a loan from Haraka loan app.
Haraka loan mobile app is a micro-finance loan service owned by a South African registered lender, GetBucks. Haraka has been listed as one of the top loan apps in Kenya.
The application is available on Google play store and is active in Kenya and other countries such as Uganda, Tanzania, Swaziland, and Zimbabwe. Unlike other online lending platforms that have high credit limits, Haraka loan app only gives loans ranging between Ksh.500 to Ksh. 5000.
These loans are repayable within periods not exceeding one month at an interest rate of 23.5%. To qualify for these loans, you need to have a Facebook account and be aged between 18 to 60 years.
Haraka Loan App Download
You need to get the Haraka loan app from Google play store and have it installed on your android device. To download the app, go to google play and type the word “Haraka loan” in the search box. Once the App is found click on the install button.
The app at the moment is only available for Android devices. Therefore, you should choose the correct version that suits your device.
Create your account
Once the app is installed in your device, you have to create your new user account. You need to have a facebook account because the app uses some details from facebook. To create your account, click on the sign-up button and follow the guideline as provided by the app.
Provide personal details
After creating an account, you will be required to log in and fill personal details about you for identification purposes. These details include
- Id number
- Date of birth
- Mpesa number, (this is where the money you have been given as a loan will be sent. It is referred to as the wallet number on the app)
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Access the loan you need
Once the details you have provided on the app have been verified, the app automatically gives you the amount of loan that you are qualified to apply for.
You are therefore supposed to choose the amount of loan you need and the money will be sent directly to your Mpesa account. You should not select amounts that exceed your loan limit since the request will not be processed.
You should ensure that the loan is repaid on time to avoid penalties or being listed as a defaulter by the CRB as this might have a negative effect on your credit report. A negative credit report from the CRB means you will not have access to credit facilities. Also, paying on time and borrowing on a regular basis from the app increases your credit limit.
How to Repay Haraka Loan
Haraka loans are repaid through Mpesa. Therefore, you will have to deposit the amount you need to repay in your Mpesa account before starting the repayment process. To repay the loan, you need to the procedure stated below.
- Go to Mpesa menu on your phone
- On the menu, select ‘Lipa na Mpesa’ option
- Select Pay Bill
- Enter 817910 as the Pay Bill number
- Enter Account number (here enter your phone number)
- Enter Amount (Enter the amount of money you want to repay. it can either be the whole amount taken as the loan or just a part of it)
- Enter your Mpesa Pin
- Press Ok (to authorize the transaction)
After completing the repayment process, yo have to wait for a confirmation message that the loan has been repaid. The confirmation messages are proof of payment and may be used for future reference.
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Although it is easy to get the money from the app, you should take note that the money you receive is a loan and will be repaid at an interest. It is therefore advised that you only borrow for the right reasons such as business expansion. Borrowing money for fun and lifestyle is not right especially when you don’t have a guaranteed source of income.
Now that I have shown you how to get instant loans from the Haraka application, you don’t have to worry about business being stuck. You should take note that sometimes the loan processing might delay for not more than 24 hours.