Getting a fast mobile loan in Kenya is now easier with PesaPap, the mobile banking platform offered by Family Bank. Through the PesaPap app or the *325# USSD code, customers can access everyday banking services directly from their phones, including instant mobile loans.
This step-by-step guide explains how to apply for a PesaPap loan, eligibility requirements, interest rates, repayment options, and where to get help.
Understanding How To Apply For PesaPap Loan
To apply for a PesaPap loan, you must first register for a PesaPap Wallet. The wallet is a virtual account linked to your mobile number and allows you to save, transfer money, pay bills, and borrow funds. Once the wallet is active and meets usage requirements, you can request a loan directly from your phone.
How To Open a PesaPap Wallet
Before applying for a loan, you need an active PesaPap Wallet. You can open one using either the mobile app or USSD.
Steps to open a PesaPap Wallet:
- Download the PesaPap App from the Google Play Store or dial *325#
- Select Open Wallet Account
- Follow the on-screen registration instructions
You will be required to provide:
- Full name (as per your national ID)
- National ID number
- Mobile phone number
Once registration is complete, your mobile number becomes your PesaPap wallet account number.
How To Qualify For a PesaPap Loan
Loan approval is not automatic. Family Bank evaluates your account activity before granting access to credit.
To improve your chances of qualifying:
- Maintain an active Family Bank account for at least six months
- Avoid being listed with CRBs in the last three months
- Ensure your PesaPap wallet records a minimum monthly turnover of Ksh 15,000 for at least three consecutive months
The bank reviews your transaction history and wallet usage to determine eligibility.
How To Request a PesaPap Loan
Once you qualify, you can apply for a PesaPap loan in minutes.
Steps to apply:
- Log in to your PesaPap Wallet via the app or dial *325#
- Select My Loans
- Choose Request Loan
- Enter the amount you wish to borrow
- Confirm using your MPIN
After confirmation, the system displays:
- Approved loan amount
- Facility fees and charges
- Repayment date
You will also receive an SMS confirming the transaction.
PesaPap Loan Limit
PesaPap allows customers to borrow up to Ksh 50,000. The exact amount depends on:
- Your wallet activity
- Previous borrowing and repayment behavior
- Overall eligibility assessment by Family Bank
PesaPap Interest Rate
The interest rate for PesaPap loans is 6.62% per month, inclusive of facility fees and service charges. Always review the loan breakdown before confirming to understand the total repayment amount.
How To Repay a PesaPap Loan
PesaPap loans must be repaid within 30 days. Customers can choose between:
- Full repayment, where the entire balance is paid at once
- Partial repayment, where payments are made in installments within the 30-day period
To repay:
- Log in to the PesaPap app or dial *325#
- Select the Loan Repayment option
- Follow the prompts to complete payment
Timely repayment improves your chances of accessing higher loan limits in the future.
PesaPap Loan Contact Support
If you experience issues or need clarification, Family Bank customer care can assist.
Customer Care Contact:
0703 095 000
Why PesaPap Loan Is Useful
PesaPap loans are ideal for short-term financial needs, offering:
- Fast approval
- No paperwork
- Convenient access via phone
- Flexible repayment options
For Family Bank customers seeking quick cash without visiting a branch, PesaPap provides a reliable and accessible mobile lending solution.
