Berry loan app is the latest loan app in the market. In today’s post, we’re going to feature Berry loan app which is currently the newest in addition to other apps in the market.
Getting a loan in Kenya is no longer hard as it used to be. Gone are the days where the only place you could get a loan was the bank. Gone too, are the days where your payslip, title deed or car logbook was used as collateral for a loan.
But you’re not here to discuss loan history in Kenya, and you’re here to get a loan right. So, let’s get you your loan with the Berry loan app. First things first, what is this loan app, and how does it work. Let’s find out.
What is Berry Loan APP?
Berry loan app is a product of Finberry Capital Limited, a local company. The loan app is currently available to devices running the Android operating system. Equally important, the loan app requires Android version 5.0 and up for it to work efficiently.
How does the Loan App Work?
You only need an Android phone, National ID number and your registered Mpesa sim card to use the app. In addition to that, the loan app will, of course, with your permission dig up more data on its own to determine your identity.
The data that is collected from your mobile device is used to determine your loan eligibility and limit. If you have a good credit history and your mpesa transactions messages are good.
You then qualify for an instant loan. The loan application process usually takes up to a few minutes with the most being 30 mins. By this point, I know that you’re dying to see the interest rate before applying for any loan, So, let’s find out.
What is the loan interest rate?
Well, Berry offers loans of between Ksh 500 and Ksh 50,000. Berry loans aren’t free at all, of course, there is a small service fee that you’ll be charged in addition to the interest rate of between 8 -15%. The interest fees are dependent on the loan duration, which is usually in the range of 3 to 30 days.
It is related: Okolea loan app download and application.
How to apply for a loan on Berry
As mentioned earlier, Berry loan only requires your ID and phone number for it to work. So here is how to apply for a loan.
- Open Google Play Store to download the Berry app.
- Once downloaded, open the app to register by providing your biodata in the application form. (The app will then ask for permission to access and read data from your phone, click allow to continue.)
- After the app has read, checked and verified data from your phone.
- Log in and then click on the “Apply Now” menu button.
- Next, select the loan amount you wish to apply and the loan repayment option and wait for your loan to be approved.
- The loan will instantly be credited straight to your Mpesa account within minutes of application.
Read also: Branch loan application.
What if your loan isn’t approved?
Applying for a loan for the first time on the app may not be successful. If your loan is not approved, there are things you need to check first because may the loan app didn’t find substantial data on your phone to determine your loan qualification.
So what can you do instead? You can try the following to make your loan application easier.
- First, don’t delete the loan app, keep it instead for it to scan your device again.
- Don’t delete your messages and especially you mpesa transaction messages as this are used to determine your creditworthiness.
- Lastly, keep using your phone and check into the app later to see if your loan has been approved.
If the above steps don’t work, maybe its time to contact Berry loan app customer care. Here is are some of Berry loan contacts that are currently available.
How to contact Berry customer care.
There are various ways you can use to contact the Berry loans team. You can contact Berry on:
- Google play store under the reviews section.
- On their website through filling an online form.
- Lastly, via email: firstname.lastname@example.org