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Stawi Loan Registration, Application, App, Contacts

by Louis
Published: Last Updated on
Stawi Loan

Stawi loan app is the brand new app in town that targets SMEs in Kenya. In this article, we tell you everything you need to know about Stawi Loan.

What is Stawi Loan?

Stawi loan app is an initiative by the Central bank of Kenya in partnership with five commercial banks.

As earlier stated, Stawi loan offers cheap unsecured loans to SME’s. These loans range from Ksh 30,000 to Ksh 250,000 with repayment periods of up to 1-12 months,  at an interest rate of 9% p.a.

The Kenyan banks responsible for the loan app include:

  • The Kenya Commercial Bank (KCB)
  • NIC Group PLC
  • Commercial Bank of Africa Limited (CBA)
  • Diamond Trust Bank Kenya Limited (DTB) and finally,
  • The Cooperative Bank of Kenya Limited

How to apply for Stawi loan

To qualify for the loan, one needs to register on the Stawi app. The first step is to download the Stawi App from the Google Play store.

The second phase will be disbursed to 10,000 traders who must have been registered by Stawi agents across the five banks. The disbursed loan is credited straight to the customer’s wallet.

Stawi loan attracts a 9% interest fee per annum. Other charges include an insurance fee of 0.7%, a facility fee of 0.4%, and exercise duty that is 20% of the facility fee. That is quite an expensive fee, ha?. All the above prices are deducted immediately on loan disbursement.

How to qualify for a loan on Stawi

To be eligible for the Stawi loan, you need to have the following:

  1. A registered and running business
  2. A proper business registration certificates which are commonly known as business permit
  3. Stawi loan app which can be downloaded from Google play store.
  4. An Email address
  5. Phone Number
  6. National Identification details (ID or Passport)

Stawi loan app download

  1. Download and install the loan app from Google Playstore.
  2. Once downloaded, open the app, enter your mobile number and a PIN in the fields provided to open an account.
  3. A message will be sent to you to direct to the location of the agents based on your business location.
  4. Currently, you need to call the contact center at 0709714999.
  5. The customer care representative will then ask you to provide details of your business location to direct you to the nearest Stawi agent near your business.
  6. Avail yourself to Stawi agent to have your details are verified.
  7. Remember to carry the original and photocopies of your National ID number and the business permit or certificate when visiting the agent’s office.
  8. The agent will then verify your details, and then an activation code will be sent to you via email or SMS.
  9. Use the activation code to request for the loan ( This is done on the app)

ALSO, READ How to Deposit Money to National Bank Account via M-pesa

What is the Maximum and Minimum loan offered by Stawi

You can request an unsecured loan from Stawi, ranging from KSh30,000 up to KSh250,000.  The amount of loan you can get depends on your credit score and limit.

Unlike other mobile loans like that issued by Branch, you can request for a second loan if you have managed to pay 80% of the first loan you owe Stawi.

How to apply for Stawi Loan?

For one to apply and get Stawi Loan, you have to download the Stawi Mobile application provided by CBA. Follow the following procedures;

  • Download App from Stawi Loan on Playstore
  • Log in to the app after creating Account
  • Got to MY LOAN TAB
  • Request Loan
  • Fill application details
  • Accept Loans offer

NOTE: If asked for Activation code and PIN, please be sure to check your email or use the contacts below.

To be among the 3500 traders who will benefit from the first round of Stawi loan that will be issued to SMEs on a pilot test, register with an agent through any of the listed banks above.

Requirements of Getting Stawi Loan

Below are the requirements that you need to meet to get stawi loan;

  • Registered Mobile Number
  • Kenyan ID or Valid Kenyan passport
  • email address
  • You should have a business permit or registered business
  • Your business should have been operating for a minimum of 6 months
  • Your business should have a turnover of ksh. 30,000 to 250,000

What is the Maximum and Minimum loan offered by Stawi

You can request an unsecured loan from Stawi, ranging from KSh30,000 up to KSh250,000.  The amount of loan you can get depends on your credit score and limit.

Unlike other mobile loans like that issued by Branch, you can request for a second loan if you have managed to pay 80% of the first loan you owe Stawi.

What are the interest rates for Stawi Loan?

Stawi interest rates are 9% per year plus other charges available in the loan calculator provided below. You are required to pay your  Stawi loan within 1 to 12 months.

How to reset Stawi loan app PIN

Just in case you forget your Stawi account PIN, while in the app menu items,

  • Select “FORGOT PIN
  • Enter the details you provided during registration and preferred a new PIN, then click on “NEXT.
  • A onetime four-digit password will be sent to your number
  • Click on “VERIFY,” and a new login pin will be reset successfully.

How to request/apply for a Stawi Loan

  • Login into the Stawi app with your credentials
  • From the menu items, select “MY LOAN.
  • Then click on “REQUEST LOAN” then proceed
  • Accept the loan offer to facilitate disbursement; otherwise, the disbursement will not be done.

How to Repay Stawi loan

  • Login into the Stawi app with your credentials
  • From the menu items, select “MANAGE.
  • Then click on “MY STAWI ACCOUNT” then Click on “PAY LOAN” then proceed
  • Enter the repayment amount and then complete the payment.

Stawi Loan Contacts

You can reach Stawi through;

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