UbaPesa Loan: How to Download & Apply for Loans

UbaPesa Loan App is a platform where lenders and borrowers interact. It can also be referred to as the money market, where lenders profit from their money while borrowers get money for their needs.

UbaPesa Limited owns the app. UbaPesa Limited is a technology company that seeks to bridge the gap between lenders and borrowers and profit from the services.

Upon registration, one becomes both a lender and a borrower at the same time. The app has both borrowing and lending options to choose what they want to do on the app at that given instant.

This article has all the necessary information about UbaPesa Loan App. Read through to understand the processes of lending as well as borrowing and registering.

How to register on UbaPesa Loan App

The only version of this app that is available is Android. Therefore you need to have an Android-powered device to access this app. To be a registered member, you need to download the app and create an account. Below is the process of downloading the app as well as creating an account.

Downloading the App

  • Go to google play store.
  • Type ‘UbaPesa app’ in the search box
  • Click the Install button.

Creating an account

  • Open the app on your device.
  • Click to sign up
  • Enter the details. (Includes your name and phone number)
  • Verify the details and submit
  • Check your loan limit.
  • Go to the Money market.

The registration process only takes a couple of minutes, and the account is ready to transact. You can either borrow or lend depending on your loan limit provided on the app.

Borrowing from UbaPesa Loan App

You are only allowed to borrow as much as your loan limit. These loans attract different interest rates depending on the period you will take to repay.

You will pay a 10% facilitation fee on the loan if you take ten days to repay. Twenty days will charge you a 14% fee.

Below is the step-by-step procedure for borrowing from the app.

  • Open the App on your device.
  • Log in to your account.
  • Go to Money Market
  • Request a loan

Once the loan is approved, the money will be sent directly to your Mpesa account through the number you used to register.

The loan should be repaid on time to avoid being denied credit in the future. Regular borrowing and repaying on time increases your loan limit.

Here is the process of repaying the loan.

Repaying a Loan on UbaPesa

The loan can be refunded through the app or directly via Mpesa. To repay through the app, Log in to your account and select pay loan. Select Mpesa, then enter the amount followed by your Mpesa pin and press okay.

To repay directly from Mpesa, follow the procedure below.

  • Go to the Mpesa menu.
  • Select Lipa Na Mpesa
  • Choose PayBill
  • Enter 144966 as PayBill number
  • Enter account number (The phone number you used to register)
  • Critical in the amount due
  • Enter Mpesa Pin
  • Press Okay
  • Go back to Ubapesa and select Repay loan to make it refresh your account.

Once you have completed the process, you will receive a notification from Mpesa and Ubapesa showing that your loan has been cleared.

Lending money on UbaPesa

You need to have funds in your UbaPesa account to give a loan. If you have insufficient funds in your account, you can deposit from Mpesa by following this procedure.

  • Go to the Mpesa menu.
  • Select Lipa Na Mpesa
  • Choose PayBill
  • Enter 144966 as PayBill number
  • Enter account number (The phone number you used to register)
  • Key in the amount you want to transfer to Ubapesa
  • Enter Mpesa Pin
  • Press Okay

Take note that the maximum amount you can lend on the app is Ksh. 140, 000. Lenders earn 42.5% of the accrued interests when lending, while the remaining 57.5% goes to UbaPesa for platform charges, insurance, and withholding fees.

Here is the procedure to be followed when lending on the app.

  • Open the App on your device.
  • Log in to your account.
  • Go to Money Market
  • Choose ‘Give a loan.’

You can choose to let the app pick a borrower for you or select a borrower of your choice from the app’s list.

As a lender, you can choose single lending to give all the money to one borrower and wait until they repay. You can also select multiple loans to provide small amounts to different borrowers until the funds are finished.

Now you have all the facts about operating the UbaPesa app. This is the only platform currently in Kenya where you can borrow and give out a loan simultaneously.

Anne Katana
I am from the Kenyan Coast and currently in Nairobi. I studied history, and now I do blogging for a living. I like to share my passion for Kenya and my experiences with other people in Kenya and abroad. So welcome to Nasonga (I am Moving).



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