How the Kashbean Loan App Works 

Kashbean operates as a mobile lending platform in Kenya offering short-term and medium-term credit through the Kashbean loan app. The service is designed for individuals and small business owners who need quick access to funds without going through traditional bank procedures.

The platform focuses on fully digital borrowing, with applications, approvals, and repayments handled through mobile devices and M-PESA.

Loan Amounts And Structure

Kashbean provides loans ranging from KSh 1,000 to KSh 200,000 for eligible users. The repayment period runs from 91 days to 365 days, depending on the selected loan product and borrower profile.

The structure is designed to give users flexibility in both short-term and longer-term borrowing, especially for working capital needs or personal expenses.

Loan Interest Rates

The Kashbean loan interest rates are capped at a maximum annual percentage rate of 36% per year, which translates to a monthly rate of 3%.

Interest is applied on a reducing or structured basis depending on the loan term. Fees may also include administrative and account management costs linked to credit scoring and transaction processing.

For example, a KSh 20,000 loan over 91 days is structured as follows:

• Monthly interest rate: 3%
• Monthly interest: KSh 600
• Principal repayment per month: about KSh 6,666
• Total monthly payment: about KSh 7,266

Total repayment over the full term:

• Principal: KSh 20,000
• Interest: KSh 1,800
• Total repayment: KSh 21,800

Loans Approval Time And Disbursement

Loan processing is handled through automated systems within the app. The Kashbean loans approval time is typically short, as the platform relies on digital credit scoring rather than manual review.

Once approved, funds are transferred directly to the borrower’s M-PESA account.

The Kashbean loans disbursement period is stated to be as fast as one minute after approval, depending on system verification and mobile money processing.

How To Apply For A Kashbean Loan

To access credit, users need to apply for a Kashbean loan through the mobile application. The process includes:

• Downloading the Kashbean loan app
• Registering with personal details
• Completing digital verification
• Submitting a loan request within the app

No collateral or physical documentation is required, and credit history checks are not a primary requirement. The platform instead uses internal scoring models to determine eligibility and loan limits.

Eligibility Requirements

Applicants must meet basic criteria:

• Kenyan resident
• Aged between 18 and 60 years
• Have a source of income and ability to repay

Loan limits may increase over time based on repayment behavior and credit score progression within the system.

Loans Repayment Period And Methods

The Kashbean loans repayment period ranges from 91 days to 365 days, depending on the loan selected.

Repayment is done through:

• M-PESA Paybill 196184, using the registered phone number as the account number
• M-PESA Express within the app

Timely repayment is used to improve internal credit scoring, which can influence future loan access and limits.

Security And Data Handling

Kashbean states that user data is transmitted over HTTPS connections and secured using 128-bit SSL encryption. Information is not shared without user consent, except where required for lending operations.

Kashbean Customer Support

Users can access support through:

• Email: help@kashbean.co.ke
• In-app customer service
• Applewood Building, Nairobi City, Kenya

Jefferson Wachira is a writer at Africa Digest News, specializing in banking and finance trends, and their impact on African economies.