The NCBA Loop App is an online podium that allows customers to access banking services at their mobile phones’ convenience.
The App has components that facilitate transactions, such as bills & money transfers. Also, this App documents your transactions for financial management purposes. When operating the App, you can set goals and save to reach the amount you need within a specified duration.
Lately, an upgrade to the NCBA Loop App added a component that allows borrowing from the App. The App works as a virtual bank account to make deposits & withdrawals. The App has also been connected with MasterCard services, which implies you can pay still with your card if you have enough money in your Loop account.
This article has noted procedures that you need to observe when applying for an NCBA Loop App loan.
Registering on NCBA Loop App
To log on to the App, you require to download and install it on your device. After installing the App on your gadget, create a user’s account from where you will be accessing assistance.
The application is unrestricted in both Android and iOS versions. Thus, when downloading the App, you should select the version compatible with your device.
The procedure of downloading the App and forming an account on the App is ilustrated below.
Downloading the NCBA loop App
Go to your google play store or App store.
In the inquiry box, type “NCBA Loop.”
Once the App is found, click “Install.”
You can as well get the App by visiting their website at cbaloop.com.
Creating a user’s account on the App
Open the App on your device.
Click “Sign up”
Enter your particulars as instructed on the app. (Includes name, ID number and phone number)
Using the unique codeyou recieved via SMS, confirm your phone number.
The account is triggered upon verification.
After the online registration, you will be needed to physically go and collect your card at the closest NCBA office. Here, your picture and biometrics will be carefully taken before you obtain the card. They will open your account then, and you will be free to transact with the App.
The NCBA Loop App permits loans of up to Ksh.3 million and some overdrafts up to Ksh.100,000. The interest rates are charged relying on the customer. The loan repayment duration is between 6months & 36 months.
To borrow from the App, follow the instructions listed below.
Borrowing from NCBA Loop Loans
Open the App on your mobile phone.
Log in to your personal account.
Select apply loan
Enter the amount you like
You can just borrow NCBA Loop Loans as much as your loan limitation is. Therefore, ensure the amount you apply for is similar to or less than your loan limit when devoting.
You should repay the loans you apply for within the determined time. This not only rescues you from adverse credit reports by the CRB but also improves your loan limit. The more you borrow and refund n time, the higher your loan limit rises.
To repay your loan, follow the instructions below.
Repaying a loan from NCBA Loop App
The loan is reimbursed from the CBA loop account. This implies that you have to deposit funds into your account before beginning the repayment process. To deposit cash into your CBA Loop account, observe the procedure below.
How to deposit money to NCBA loop account
Go to the Mpesa menu.
Choose lipa na Mpesa
Select Pay Bill
Enter the NCBA loop Paybill Number 714777
Enter Account number (The M-pesa phone number you used to register the account with)
Input the amount you wish to deposit
Enter your Mpesa Pin
Once the transfer is flourishing, you will receive a message from Loop and Mpesa indicating the transfer details. Once the fund is in your Loop account, you can repay using the instructions below.
Repaying the loan
Log in to your NCBA Loop account.
Click repay loan
Enter the amount owed
After the payment, they will inform you that the repayment of the loan was successful.
You can select loans from loop whenever you qualify for one currently that you have all the instructions. However, it is not advisable to borrow more than you can refund on time. Other applications offer fast loans if you find the NCBA Loop app inappropriate for you.