Shika loan app serves as the platform from which borrowers can access quick loans from Alternative Circle.

Shika loan features

  • The app is currently available to android system mobile phone users in kenya.
  • Only safaricom subscribers (those with safaricom simcards) can use the service at the moment.
  • Loan limits range between kes500 to kes 20000
  • Loans approved are disbursed to MPesa within 3 minutes (180seconds).
  • Loans are charged a flat facitation fee of 15% (percent) the amount approved.
  • Maximum repayment period is one month. However one can choose to pay daily, weekly or after 30 days.
  • Late repayment attract 10% rollover fee on top of the amount owed.
  • Delaying to repay for more than 60 days will lead to listing with the CRB as a defaulter.

Getting started with Shika loan app

  • Go to play store and download the Shika app 
  • Instal the app into you mobile phone device
  • Sign up with your safaricom mobile phone number and your national ID number
  • Create your Shika PIN

How to apply for Shika loan

  • Log in to your Shika account using your registered mobile phone number and your Shika PIN
  • Select ‘Request loan’
  • Enter the amount you wish to borrow.(Hint;Never exceed the loan limit provided for you below)
  • Select ‘confirm’
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