Loop Loans is a product of NCBA Group, one of Kenya’s leading banking institutions. Loop, NCBA’s digital banking platform, provides a range of financial services, including personal loans, aimed at delivering convenience and flexibility to its users. Loop Loans leverages technology to offer a modern alternative to traditional banking, catering to the needs of tech-savvy individuals and small business owners. Loop App offer loans up Kes 3 million.

My Take On Loop App Loans

Loop is a legitimate and trusted app that offer unsecured and instant loans to mostly salaried individuals.



Types of Loans offered by Loop App

Loop app offer two types of loans:

  • Loop personal loan
  • Loop overdraft

Loop Loans Features

Loop loans has got the following features that makes them outstanding:
  • Loop Unsecured personal loans ranges from Kes 50000 up to Kes 3 million
  • Repayment period range from 6 months to 36 months.
  • Interest Rates for the loans depends on individual customer credit history ratings
  • Loop overdraft facility from Kes 1000 up to Kes 100,000 with a repayment plan of 30 days.

Requirements for Loop Loans

Like any other loans, loop loans also have got requirements and qualifications before one can access the loans. The top requirements for Loop Loans are as follows:
  • One must be a Kenyan citizen
  • Be 18 years and above with valid National IDs
  • Provide KRA PIN Certificate
  • You must be registered/ register on Loop app
  • Channel your salary/ payment or earnings through loop and transact for at least 3 months.
  • Have a good Credit history ratings
  • Not negatively listed on CRB

How To Apply For Loop Loans

To access loop loans, personal and overdraft, Kenyans can follow this procedure:
  • Download and Register on Loop App
  • You will be prompted to create a login PIN
  • Login to check your loan limit awarded
  • Click on "Request loan"
  • Verify your loan application,loop will send OTC to you for verification
  • Accept the loan offer
  • Once approved the loan will be deposited directly into your loop account.

How To Withdraw From Loop Account To Mpesa account.

Having received your loan ,you can now transfer the money into your mpesa account as follows:
  • Open loop App (login)
  • Click on "Payments"
  • Choose option "Send Money"
  • Select "Mpesa"
  • Enter your Mpesa phone number
  • Enter Amount you want to send confirm and send
  • You will receive Mpesa message as well as from loop app about the transaction.

Pros and Cons of Loop App Loans

Pros of Loop App Loans
Loop Loans have got several advantages to the users including:
  • Convenience - The app is available anytime anywhere with no human interaction
  • Quick disbursement of the loans in minutes apon approval
  • Flexible loan offers for the customers with longer repayment schedule
  • Low interest rates as compared to other loan apps available in Kenya.
  • The transactions on the app is trusted and secure, app is a licensed digital loan provider under CBK.
  • Comprehensive financial management tools
  • Intuitive and user-friendly interface
Cons of Loop App Loans
Although the app has got many advantages of it got it's downside also as follows:
  • Many customers are complaining of login hitches for the app
  • There are also some transaction charges involved as customers use the app
  • Sometimes the app hangs making it inconvenient for some customers 
  • Requires internet to perform transactions 
  • Limited to NCBA customers.
  • Newer in the market compared to other traditional banking apps, which might mean fewer services and integrations.

Comparison of Loop App With Other Banking Apps in Kenya.


There are several Banking Apps in Kenya that offer similar services to Loop App: 
Some of the app are as follows: 
  • Mco-op Cash App- Co-operative Bank 
  • Equity Bank Eazzy App
  • PesaPap - Family Bank 
  • Hf whiz -Housing Finance 
  • Fingo - Ecobank
  • KCB App
Each of these banking apps offers unique features catering to different customer needs. The Loop Loans app by NCBA stands out for its modern user experience and comprehensive financial management tools, appealing particularly to tech-savvy users and young professionals. However, traditional bank apps like KCB, Equity, and Co-operative Bank provide a broader range of banking services and have a more established presence in the market. M-Pesa remains the go-to for mobile money transactions due to its extensive reach and integration with various financial services

 Loop Loans App (NCBA)



Loop Loans is a digital banking platform offered by NCBA Bank. It primarily targets young professionals and tech-savvy individuals, providing a suite of financial services via a user-friendly mobile app.

Features:
- Digital Wallet:Seamless money transfers, bill payments, and mobile top-ups.
- Savings and Investments: Allows users to set savings goals and invest in different products.
- Loans: Quick access to personal loans based on user's transaction history.
- Expense Tracking: Automated tracking and categorization of expenses.
- User Experience:Modern, intuitive interface designed for ease of use.


KCB App (Kenya Commercial Bank)


Overview:
The KCB app is a digital banking platform from Kenya Commercial Bank, one of the largest banks in Kenya. It offers a full range of banking services to its customers.

Features:
- Account Management:Access to account balances, statements, and transaction history.
- Funds Transfer: Inter-bank and intra-bank transfers.
- Loans: Application and disbursement of personal and business loans.
- Bill Payments:Payment of utility bills and school fees.
- Savings and Investments:Options for fixed deposits and other investment products.

Pros:
- Comprehensive banking services.
- Integration with KCB's extensive branch and ATM network.
- Strong customer support and service reliability.

Cons:
- Interface can be less intuitive compared to newer fintech apps.
- May require visits to branches for some services.


Equity Eazzy Banking App (Equity Bank)


Overview:
Equity Bank's Eazzy Banking app provides a range of banking services, aimed at making banking more convenient for its customers.

Features:
- Account Management:Check balances, view mini-statements, and transaction history.
- Money Transfer: Send money to other banks and mobile wallets.
- Loans and Credit: Access to Eazzy Loan, a quick loan service.
- Bill Payments: Pay utility bills, TV subscriptions, and other services.
- Savings and Investments: Manage savings and investments within the app.

Pros:
- Easy loan application and disbursement.
- Integration with a wide range of services.
- Good user interface with regular updates.

Cons:
- Network issues can sometimes affect app functionality.
- Customer service response times can be slow during peak periods.

M-Co-opCash (Co-operative Bank of Kenya)


Overview:
M-Co-opCash is the mobile banking app from the Co-operative Bank of Kenya, offering a variety of financial services on the go.

Features:
- Account Management:View account balances, statements, and transaction history.
- Loans: Access to mobile loans and salary advances.
- Money Transfer: Transfer funds to other banks and mobile wallets.
- Bill Payments: Pay utility bills, buy airtime, and more.
- Savings: Options for saving and investing within the app.

Pros:
- Easy access to loans and advances.
- Comprehensive banking functionalities.
- Strong network of branches and ATMs for support.

Cons:
- User interface can be less modern compared to newer apps.
- Occasional technical glitches affecting usability.

How To Contact Loop Loans App Customer Care 

Incase of any challenges, contact Loop App Loans customer service through: 
+254 709714444/ 730 714444


Generally, the NCBA Loop Loans App is a valuable asset for individuals seeking convenient and efficient financial solutions in the modern digital landscape. Hope these insights will help you make a more informed financial decisions. 





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