Zenka Finance Limited has been a key player in Kenya’s mobile loan industry since its launch in 2018, providing fast and accessible credit to millions of Kenyans. With over 1 million downloads on Google Play Store, Zenka is widely regarded as one of the leading mobile loan applications in the country. It offers quick and easy emergency loans ranging from Ksh 500 to Ksh 10,000, making it a popular choice for those seeking instant cash solutions.
If you’re looking to repay your Zenka loan, M-Pesa is the most convenient method available. In this guide, we walk you through the simple steps to pay your Zenka loan via M-Pesa and explore additional ways to make the process seamless.
Zenka Loans: How It Works
Zenka offers emergency loans with a quick approval process. To apply for a Zenka loan, follow these steps:
- Download the Zenka App from Google Play Store.
- Sign up and fill in the required information, including your personal details and the loan amount you need.
- Submit your loan application. Your loan will be reviewed, and if approved, the funds will be sent directly to your M-Pesa account.
Once you’ve received the loan, it’s essential to repay it on time to avoid additional fees or penalties.
How to Pay Zenka Loan via M-Pesa: Step-by-Step Instructions
Here’s how to repay your Zenka loan using M-Pesa:
- Go to the M-Pesa menu on your mobile phone.
- Select ‘Lipa na M-Pesa’.
- Choose ‘Pay Bill’.
- Enter 979988 as the Business Number.
- Input your phone number (the one registered with Zenka) as the Account Number.
- Enter the repayment amount you wish to send.
- Enter your M-Pesa PIN and press OK.
- Wait for a confirmation SMS from M-Pesa. This will verify that your transaction was successful.
Alternative Repayment Method: Zenka App
If you prefer, you can also repay your Zenka loan directly through the Zenka app:
- Open the Zenka App on your mobile device.
- Scroll down and select ‘Repay’ from the options available.
- Review or adjust the repayment amount. If you’re paying the full amount, leave it as is; otherwise, input the amount you intend to pay.
- Click ‘Repay Now’.
- Follow the Payment Link to complete the transaction.
Once the payment is processed, you will receive an SMS notification confirming your payment.
What to Do If You Encounter Problems
While Zenka’s payment process is straightforward, you may run into issues such as delayed confirmation messages or failed transactions. If this happens, don’t worry—Zenka’s customer service team is readily available to assist.
Here are the Zenka contact details for further assistance:
- Phone: 020 7650878
- Email: support@zenka.co.ke
- Office Location: Chiromo Road, Mirage Tower 2, 12th floor, Nairobi
Important Tips for Timely Loan Repayment
- Track Your Loan Repayment Date: Ensure that you’re aware of your loan repayment deadline to avoid penalties and additional charges. Zenka allows users to set reminders through the app.
- Plan Your Finances: Take stock of your finances and ensure you can comfortably repay the loan on time. Zenka loans typically come with high interest rates, so timely repayment is crucial to avoid accumulating debt.
- Check Your M-Pesa Balance: Before making a repayment, confirm that you have sufficient funds in your M-Pesa account to cover the amount due.
- Consider Early Repayment: Zenka allows borrowers to repay their loans early, which can help reduce the overall interest paid. The app offers flexibility in payment amounts, so you can pay in installments if necessary.
The Rise of Mobile Lending in Kenya
The popularity of mobile loan apps like Zenka has soared in Kenya due to their convenience and accessibility. Traditional banking services often require extensive paperwork and longer approval times, while mobile loans provide near-instant access to funds. Zenka is part of a growing sector that includes other prominent lenders like Tala, Branch, and M-Shwari.
Despite their convenience, borrowers must exercise caution when using mobile loans. The interest rates can be high, and failure to repay on time can lead to hefty penalties. It is always advisable to read the terms and conditions carefully before borrowing.
Paying your Zenka loan via M-Pesa is a quick and easy process, with multiple ways to ensure your repayment is completed on time. Whether you use the M-Pesa Pay Bill service or repay directly through the Zenka app, following the right steps ensures that you maintain a good credit standing with Zenka and avoid any unnecessary fees. For any issues, Zenka’s customer support is always on hand to provide help.
Stay informed and make the most of Zenka’s loan offerings by ensuring timely repayments and leveraging the app’s easy-to-use interface.
By understanding how mobile loan apps like Zenka operate and the best practices for repayment, you can make smarter financial decisions and benefit from the convenience of quick loans without the risk of falling into debt.
