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 for getting a loan from the 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 the Google play store and is active in Kenya and other countries such as Uganda, Tanzania, Swaziland, and Zimbabwe. Unlike other online lending platforms with high credit limits, the Haraka loan app only gives loans ranging from 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 18 to 60 years.
Haraka Loan App Download
You need to get the Haraka loan app from the Google play store and install it on your android device. Go to google play and type the word “Haraka loan” in the search box to download the app. 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 on 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 make your account, click on the sign-up button and follow the guideline provided by the app.
Provide personal details
After creating an account, you will be required to log in and fill in personal information about yourself for identification purposes. These details include
- Id number
- Date of birth
- Mpesa number (this is where they will send the money you have been given as a loan. It is referred to as the wallet number on the app)
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 credit you qualify to apply for.
Therefore, you are supposed to choose the amount of loan you need, and they will send the money directly to your Mpesa account. You should not select amounts that exceed your loan limit since it will not process the request.
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 hurt your credit report. An adverse credit report from the CRB means you will not have access to credit facilities. Also, paying on time and regularly borrowing 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 follow the procedure stated below.
- Go to the Mpesa menu on your phone
- On the menu, select the ‘Lipa na Mpesa’ option
- Select Pay Bill
- Enter 817910 as the Pay Bill number
- Enter your 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, you must 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.
Although it is easy to get the money from the app, you should note that the money you receive is a loan and will be repaid at an interest. Therefore, it is advised that you only borrow for the right reasons, such as business expansion. Borrowing money for fun and a lifestyle is not correct, 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 note that sometimes the loan processing might delay for not more than 24 hours.