Frequently asked questions

How do I get a loan?

Getting a loan on OkoaMia is as easy as sending kes.5 to our paybill (519608) and using your ID number as the account name and you immediately receive your KES. 100 loan. Alternatively, you can dial *628# and follow the prompts through to borrow menu option.



How much can I get?

With OkoaMia you can borrow up to a maximum of KES.900. This applies through the process of loan graduation, where you qualify for a specified amount by borrowing five (5) times at a lower loan level and eventually graduating to the next loan level. For instance, you start at kes.100 and borrows five (5) times to qualify for a KES.200 where you borrow another five (5) times and qualify for a KES.300 and so on forth... eventually graduating for a KES. 900.



Why can't I get a loan?

OkoaMia uses a credit scoring model to ensure responsible lending and borrowing. The inability to receive a loan may be as a result of a negative credit score report from the CRB (Credit Reference Bureau). Alternatively, you could check the validity of data entered during loan registration and correct any errors in the ID number or phone number entered.



Can I get more than one loan?

OkoaMia offers a single loan for a defined period within the terms. Once the loan is completed apply for a new one.



What happens when I don’t pay on time?

In the unfortunate event that you do not pay on time as per the agreed terms, a penalty of KES. 20 to 180 per day is applied on loans ranging from KES.100 - KES.900 until the completion date; additionally, you risk being adversely listed on the CRB.



You have listed me in CRB, what do I do?

To be delisted from CRB you need to complete your loan and contact us so that we may issue a loan clearance to CRB.



KES. 100 is too little, what can I do with that?

The truth of the matter is about 46% of us live below the poverty line while the majority of us use public transport. Which means there might came a time when you will need the KES. 100. Further more I'm sure you know someone who would benefit from this service and you would do well to recommend. Nonetheless, the more you borrow the higher your credit limit will be and eventually this service will make sense to you. Thank you for trying us.



Who owns OkoaMia?

OKoaMia is a wholly owned Kenyan financial product owned exclusively by OkoaMia ventures ltd, a company incorporated in the republic of Kenya.



How long does it take to get a loan?

An Okoamia loan is funded on a real-time basis. After making the loan request and qualifying the loan is received immediately. If this does not happen, kindly contact us.



What are the terms of your loan?

Your OkoaMia loan attracts an interest of 10% on the value of the principal applied for and a KES.15 transaction cost. Detailed issues relating to the loan can be obtained from the terms and conditions on this website



Can I pay before my due date?

You can pay for your OkoaMia loan at any time before the due date at no extra cost. Pay by dialling *628# and following the prompts on the pay option.



Why can’t I get a longer loan period?

An OkoaMia loan is a short-term loan with a term of five (5) days which takes into consideration purpose of loan, amount loaned, targeted clientel and risk. The product would not be sustainalbe otherwise.



Do I need to have an Mpesa Account?

Currently Yes. To receive the OkoaMia loan you require an Mpesa account but we are working to integrate other providers.



How do I Pay?

To pay for an OkoaMia loan you simply dial *628# and choose option one (1) - pay loan. Follow the prompts that follow to complete your loan repayment process. Alternatively, you could send the loan balance (as indicated on the pay option) to our paybill (519608) and use your mobile number or ID number as your account name to pay for your loan.



How will I receive the loan?

Currently your OkoaMia loan will be deposited to your Mpesa account that you used to send your acceptance fee