Haraka Loan Kenya

Haraka Loan Kenya – Haraka Loan App is revolutionizing the way Kenyans access quick loans. This mobile money lending platform makes borrowing hassle-free and efficient, catering especially to those in need of fast financial solutions. Powered by M-PESA, it’s designed for your convenience. seeIs SocialEarn legit?

A quick overview of Haraka Loan kenya

Haraka Loan Kenya is a mobile money lending service offering quick and convenient loans to Kenyans. It operates through the Haraka Loan App, available for Android users, and integrates with M-PESA for efficient loan disbursement and repayment. Owned by Getbucks, Haraka targets a broad audience, including unbanked individuals and those in informal business sectors. Loans range from KES 500 to KES 5,000, with repayment periods spanning 7 to 30 days. The app also features a referral program, allowing users to invite friends and family, potentially unlocking larger loan amounts. Haraka stands out for its ease of use, fast loan processing, and accessibility, making it a popular choice for those in need of quick financial solutions in Kenya.


Who Powers Haraka?

Haraka Loan App is an innovative creation by Getbucks. It’s a significant part of Getbucks’s broader mission to offer speedy financial solutions, not just in Kenya but across Africa. While Getbucks focuses on financing for employed individuals and established businesses, Haraka steps in to assist the unbanked and those in informal sectors with immediate loan needs.

The eligibility requirements of Haraka Loan kenya

The eligibility requirements for Haraka Loan in Kenya typically include the following:

  1. Kenyan Residency: Applicants must be residents of Kenya.
  2. Age Requirement: Borrowers should be of legal age, usually 18 years or older.
  3. M-PESA Account: Since Haraka loans are disbursed through M-PESA, having an active M-PESA account is essential.
  4. Android Smartphone: The Haraka Loan App is available on the Google Play Store, so having an Android smartphone is necessary to download and use the app.
  5. Facebook Account or Mobile Phone Number: For registration and verification purposes, a Facebook account or a Kenyan mobile phone number is required.
  6. Creditworthiness: Although specific details might not be publicly listed, like many lending platforms, Haraka likely assesses applicants’ creditworthiness, possibly considering their M-PESA transaction history or other financial behaviors.
  7. Regular Income Source: Some lenders require proof of a regular income source, though this might not be strictly enforced by Haraka, especially since it caters to the unbanked and informal sector.

It’s important to note that these criteria can change, and there may be additional requirements not publicly listed. For the most accurate and up-to-date information, potential borrowers should refer to the Haraka Loan App or contact their customer service directly.

Step-by-step instructions for applying for a Haraka Loan Kenya

Applying for a loan from Haraka Loan Kenya is a straightforward process, typically done via their mobile app. Here’s a step-by-step guide to help you through the application process:

  1. Download the App:
    • If you have an Android smartphone, go to the Google Play Store.
    • Search for “Haraka Loan App”.
    • Download and install the app on your device.
  2. Open the App and Register:
    • Launch the Haraka Loan App.
    • Register for a new account. You will need to provide either your Facebook account details or your mobile phone number for registration.
  3. Set Up Your Profile:
    • Fill in the required personal information to complete your profile. This may include details like your name, date of birth, and ID number.
    • Ensure the information you provide is accurate and matches your official documents.
  4. Link Your M-PESA Account:
    • As Haraka loans are disbursed through M-PESA, link your active M-PESA account with the app.
    • This step is crucial for both receiving the loan and for loan repayments.
  5. Apply for the Loan:
    • Navigate to the loan application section within the app.
    • Enter the desired loan amount (within the range offered by Haraka).
    • Submit your loan application.
  6. Wait for Approval:
    • Haraka will process your application. This usually happens quickly, often within minutes.
    • You’ll receive a notification regarding the approval status of your loan.
  7. Loan Disbursement:
    • If your loan application is approved, the loan amount will be disbursed directly to your linked M-PESA account.
    • You will receive an SMS confirmation from M-PESA once the funds are transferred.
  8. Repaying the Loan:


  • Read the Terms and Conditions: Before applying, make sure to read and understand the terms, including interest rates and repayment conditions.
  • Check Eligibility: Ensure you meet all eligibility criteria before applying.
  • Borrow responsibly: Only borrow amounts you can repay and be mindful of the repayment deadlines to avoid penalties.

The interest rate and duration for Haraka Loan kenya

Haraka Loan Kenya is known for its convenient and quick lending services, catering to immediate financial needs with loans ranging from Ksh 500 to Ksh 5,000. However, two key aspects to consider when applying for a loan with Haraka are the interest rate and the loan duration. see

Interest Rate

  1. Competitive Rates: Haraka typically charges interest rates on its loans, but the exact rate may vary. It’s important for borrowers to review the interest rate details provided in the app at the time of application.
  2. Cost Transparency: The total cost of the loan, including interest, is usually clearly outlined during the application process, ensuring borrowers understand the full amount they will need to repay.
  3. Influencing Factors: The interest rate might be influenced by factors such as the loan amount, repayment history, and possibly the borrower’s creditworthiness. visitHow To Write an Application Letter For Zambia Police

Loan Duration

  1. Short-Term Loans: Haraka specializes in short-term loans, which are ideal for immediate, temporary financial needs.
  2. Repayment Period: The typical repayment period for Haraka loans ranges from 7 to 30 days. This means that once you receive the loan, you have a maximum of one month to repay it.
  3. Flexible Repayment: Despite the short duration, the repayment process is designed to be as flexible and manageable as possible, aligning with the borrower’s cash flow. visitHow Can I Become a Business Analyst In South Africa?

Additional Notes

  • Application Ease: The entire loan application process, from applying to receiving funds, is streamlined and quick, often resulting in funds being disbursed to your M-PESA account within minutes after approval.
  • Responsible Borrowing: It’s crucial for borrowers to consider their ability to repay the loan within the stipulated time frame to avoid penalties or negative impacts on credit scores.

The key importance of Haraka Loan Kenya interest rate

The interest rate of Haraka Loan Kenya holds significant importance for both the borrowers and the overall lending model. Here are the key aspects of why the interest rate is a critical component of haraka’s services:

1. Affordability for Borrowers:

  • Competitive Rates: By offering competitive interest rates, Haraka ensures that its loans are affordable for a broad range of borrowers, particularly those who may not have access to traditional banking services.

2. Sustainability of the Lending Model:

  • Operational Viability: The interest charged on loans is crucial for maintaining the sustainability and operational viability of Haraka as a lending service. It helps cover operational costs and mitigate risks associated with unsecured lending.

3. Risk Management:

  • Compensating for Risk: Given that Haraka often caters to individuals without formal credit histories or those in informal sectors, the interest rate can act as a mechanism to offset the higher risk associated with these loans.

4. Encouraging Responsible Borrowing:

5. Access to Credit:

  • Enabling Access: By charging interest, Haraka can provide loans to a larger segment of the population, including those who might be excluded from traditional credit sources.

6. Balancing Demand and Supply:

  • Market Regulation: Interest rates help in balancing the demand and supply of loans. A well-calibrated interest rate ensures that the loan product is attractive to borrowers while remaining financially viable for the lender.

7. Transparency and Trust:

  • Building Consumer Trust: Transparent communication about interest rates helps in building trust with customers, as they are fully aware of the costs associated with their borrowing.

8. Economic Impact:

  • Supporting Economic Activity: By providing loans at reasonable interest rates, Haraka plays a role in supporting economic activity, particularly in the informal sector and among small business owners.

The interest rate of Haraka Loan Kenya is thus a pivotal factor that not only influences the affordability and appeal of the loans for borrowers but also ensures the sustainability and effectiveness of Haraka as a lending platform.

The repayment process for Haraka Loan Kenya

The repayment process for a Haraka loan in Kenya is designed to be as straightforward and convenient as the borrowing process. Here are the key details of the repayment terms:

Repayment Duration

  1. Short-Term Repayment: Loans obtained through Haraka must be repaid within a short period, typically ranging from 7 to 30 days. This short-term nature aligns with the intended use of the loans for immediate, temporary financial needs.
  2. Clear Communication: When you receive a loan, Haraka or Getbucks will typically inform you about the maximum amount and the due date for repayment. For example, a message like “Good Morning Mwabaya, The maximum amount you can get is KES 5,000. Regards, The GetBucks team” indicates the loan limit and implicitly suggests the need to be mindful of the repayment obligations. see Is Olymp Trade Legit?

Repayment Process

  1. Using M-PESA: Repayment is done through M-PESA, Kenya’s popular mobile money service, which is also the platform through which the loans are disbursed.
  2. Repayment Instructions: Detailed instructions on how to repay the loan are usually provided in the Haraka Loan App or via SMS. This typically involves accessing the M-PESA menu, selecting the Paybill option, and entering the specific business number provided by Haraka.
  3. Enter Account Number: Your account number, usually your phone number or a unique identifier provided by Haraka, should be entered in the M-PESA repayment process.
  4. Enter Amount: Input the amount you wish to repay. This can be the total due amount or partial payments, depending on the terms specified by Haraka.
  5. Confirm Transaction: Double-check the details and confirm the transaction. You will receive a confirmation message from M-PESA once the payment is successful.
  6. Keep Records: It’s a good practice to keep records of your repayment confirmation messages from M-PESA for future reference.

Late Repayment Consequences

  1. Penalties and Fees: Late repayments can incur additional charges or penalties. It’s important to check these details in the loan agreement.
  2. Impact on Credit Score: Consistently late or missed payments may affect your credit score, impacting your ability to borrow in the future, not only from Haraka but also from other lenders. visitIs WhiteHat Jr. Legit?

Tips for Smooth Repayment

  • Plan Ahead: Keep track of the repayment date and ensure you have the funds ready in your M-PESA account.
  • Partial Payments: If allowed, making partial payments before the due date can ease the burden of a lump sum repayment.

Understanding and adhering to these repayment terms is crucial for maintaining a good credit history and ensuring continued access to Haraka’s convenient loan services.

Contacting the Haraka loan kenya Support Team

For Current Haraka Loan App Users

  1. Accessing Support from the App:
    • Log In: Open the Haraka Loan App and log in to your account.
    • Navigate the Menu: Tap on the menu icon, usually located in the top left corner of the app.
    • Select Support Option:
      • Email Support: Choose ‘Email Support’ to compose and send an email directly through the app.
      • Phone Support: If you prefer to speak to a support representative, select ‘Phone Support’ to view the contact numbers.

Leave a Comment