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How to Increase Your Loan Limit

Many mobile loan lenders have emerged lately in Kenya. I know you wonder how they get to determine the amount of loan they will give each person as the limit differs from person to person. Therefore if you want to have a higher limit ensure that you practice below measures.

One, transact via mpesa. Avoid dealing with cash or physical money. Practice Lipa na mpesa and pay your bills using mpesa. This makes your Mpesa statement rich and will make your loan limit rich as well.

Two, avoid deleting your Mpesa payment messages. Have you ever wondered why the loan apps request access for your messages? These apps read your messages and discover how active you have been on this online platform.

Three, delete negative financial messages. These include messages that are sent to you reminding you that you should pay your loan before a certain date or that you loan is overdue. These are the kind of messages that get you being requested to try again after some time.

Four, pay your loans in time. If you pay your loans in good time you stand a good chance of having your limit increased. If you pay late, your limit will be reduced.

Five, request a loan frequently. This might be expensive especially because of the interest rates that you will be paying. So if you are not taking the loans, the alternative to this is to make sure you utilize your Mpesa account and avoid physical cash.

Six, have a social media account. You may have noticed that most apps will ask you whether you want to sign up using Facebook, Twitter etc. Being active in social media also helps.

Seven, save in the app for those that offer this service. The more you save the more your limit increases. You may not want the loan now but if you save, the next time you want one it will be big.

Eight, have at least an android phone that can allow these apps.

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