Watu Credit is a financial institution in Kenya that provides motorbike loans to individuals and businesses. The company offers flexible repayment plans, competitive interest rates, and quick loan disbursement. In this article, we will discuss the requirements, application process, and repayment options for the Watu Credit motorbike loan.
Requirements for Watu Credit Motorbike Loans
To qualify for a motorbike loan from Watu Credit, applicants must meet the following requirements:
- Identification Documents: Applicants must have a valid national identification card or passport.
- Proof of income: Applicants must provide proof of income, which can be in the form of pay slips, bank statements, or any other relevant document.
- Guarantors: Applicants must provide at least two guarantors who have a stable income and are willing to take responsibility for the loan in case the applicant defaults.
- Collateral: Watu Credit requires collateral for their motorbike loans. The collateral can be in the form of land or any other valuable asset.
- Age: Applicants must be between 21 and 65 years old.
- Credit Score: Watu Credit checks the credit score of the applicants to determine their creditworthiness.
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How to Apply for Watu Credit Motorbike Loans
Applying for a motorbike loan from Watu Credit is a straightforward process that can be done in four easy steps:
- Fill out an application form: Applicants can fill out the application form online or visit the nearest Watu Credit branch to fill out a physical form.
- Provide the required documents: Applicants must provide the necessary documents, including identification documents, proof of income, guarantors, collateral, and any other relevant document.
- Wait for approval: After submitting the application, Watu Credit will review the application and notify the applicant of the loan approval status.
- Receive the funds: If the loan is approved, Watu Credit will disburse the funds to the applicant’s account or directly to the motorbike seller.
Repayment Options for Watu Credit Motorbike Loans
Watu Credit offers flexible repayment options for their motorbike loans, which include:
- Monthly Installments: Borrowers can repay their motorbike loans in monthly installments. The amount of the installment is determined by the loan amount, the interest rate, and the repayment period.
- Direct Debit: Borrowers can set up a direct debit with Watu Credit, which deducts the monthly installment from their bank account automatically.
- Mobile Money: Borrowers can make loan repayments using mobile money platforms such as M-PESA, Airtel Money, and T-kash.
- Cheque: Borrowers can also make loan repayments using a cheque.
Watu Credit Paybill Number
After being given a motorbike loan, you need to select a convenient mode of repayment. Using the organization`s Paybill number 650880 is simple, secure, and reliable. The following is the procedure of how to repay Watu Credit via Paybill Number.
The Procedure of How to Repay Watu Credit via Paybill Number
- Go to the Mpesa menu on your phone
- Choose the Lipa Na Mpesa option
- Select the Paybill option
- Select enter business number option
- Enter 650880 the Watu Credit Paybill number and dial OK
- Dial your phone number as your account number and press OK
- Enter the amount you wish to send to the Watu credit account and dial OK
- Dial your Mpesa PIN, OK
- Read the screen message to confirm the details of the transaction about to happen and dial send
- You will receive a message concerning your loan repayment
- If the process fails, check your Mpesa balance and repeat the procedure above
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Watu Credit Branches in Kenya
- Meru – Njuri Ncheke Street
- Kitui – Kibwezi, Kitui Road
- Nairobi – Vision Plaza, Mombasa Road
- Nakuru – Eldoret Highway
- Narok – B3 Road
- Kericho – Tengecha Lane 1st Floor Room 101
- Bomet – Silibwet junction
- Eldoret – Pioneer Business Center
- Kapsabet – Jean Marie Seroney Road
- Kitale – Mak Asabi Street
- Kisumu – Makasembo Road MURBS Building
- Kakamega – Along Kisumu to Kakamega Road
- Kisii – Metro Hotel Ground Floor
- Bungoma – Opposite Governor’s office
- Voi
- Mumias – Along Musanda Road
- Migori – A1 Road
- Siaya – Ragama Building
- Homabay
- Jinja – Plot 42 Main Street Road
- Mombasa – Mbaraki Road
- Maua – Jabiru Complex
- Mbale – Manafwa Road, Plot 2
- Malindi – B8 Road
Watu Credit Contacts
Phone number: 0790 000 999, 0709 739 000
Email: kenya@watuafrica.com
Conclusion
Watu Credit is an excellent option for individuals and businesses that need motorbike loans in Kenya. The company offers competitive interest rates, quick loan disbursement, and flexible repayment options.
However, it’s essential to meet the requirements and provide all the necessary documents to increase the chances of loan approval.
With Watu Credit, you can now own your dream motorbike without breaking the bank.
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