Introduction
Fair Kash ash is a loan app in Kenya that offers instant loans straight to customer’s M-Pesa account. Fair Kash loans are instant, unsecured and one require very few legal formalities to qualify for this loan.
In this article, I will take through the complete process of downloading, installing, registered, borrowing and repaying loan on Fair Kash loan app.
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First, let’s look at how one can download Fair Kash Loan App;
How to download Fair Kash Loan App
To download Fair Kash loan app, first visit google play store and head to the search section.
On the search section,enter the keyword Lion Kash Loan App and it will appear as one of the search results (it will appear as the first search result in most occasions).
After successfully searching for Fair Kash app on your Google play store, go ahead to download and install the app.
How to borrow loan on Fair Kash loan app
After downloading and installing the app, the next step is to register on Fair Kash before you are allowed to borrow your first loan.
To register, you will need only your national ID number, a functional safaricom line and an active M-Pesa account.
Open the app and select on register now. After that you will be required to fill in your details correctly as they appear on your national ID number.
The app will then request your permission to access some apps in your phone, you should grant it access.
With the information from your mobile phone, your M-Pesa number and your CRB rating, Fair Kash app will automatically calculate your loan limit and update it on your app after few seconds.
You can proceed to download any amount within your loan limit and it will be processed and disbursed to your M-Pesa account within four minutes.
Click this link to download Fair Kash Loan App on google play store.
How to repay Fair Kash Loan
To repay your Fair Kash Loan, head to M-Pesa and click on paybills.
Enter paybill number 4074255 and your phone number as the account number.
Proceed to enter your your M-Pesa pin to complete the transaction.
Fair Kash loan Interest rate
Fair Kash charges interest on their loan depending on the payment period.
The interest rate vary from 1.3% if the customer chooses monthly payment plan and 16% if the customer chooses annual payment plan.
FairKash loan repayment period
FairKash has flexible payment plans which a customer can choose from depending on their preferences.
The plans vary from 7 days to 360 days.
If a customer borrows KSH. 10,000, they maximum payment period is 91 days and the maximum interest is KSH. 300. The customer will therefore be required to pay KSH. 10,300.
If a customer borrows KSH. 20,000, the maximum payment period is 120 days and the maximum interest is KSH. 600 the customer will therefore be required to pay KSH. 20,600.
If a customer borrows KSH. 50,000, the maximum payment period is 180 days and the maximum interest is KSH. 1,500. The customer will therefore be required to pay KSH. 51,00.
If a customer borrows KSH. 60,000, the maximum payment period is 360 days and the maximum interest is KSH. 1,800. The customer will therefore be required to pay a total of KSH. 61,800.
Does FairKash charge any other fee?
No. Apart from the interest charged on loan, there is no other fee a customer is expected to pay.
There is only a fee that a customer will be expected to pay if they pay their loans late and this fee will be clearly stated to the customer before their loan is approved.
Can I access FairKash loan when listed in CRB?
No. You cannot access FairKash loan when you are negatively listed in CRB. Click on this link to check your CRB status.
Marion Mwangangi is a Journalism student at Multimedia University of Kenya. Apart from being a student, she is a professional graphic designer, an SEO expert and a video editor. Email: mwangangimarion340@gmail.com