The Okolea Loan app is a great way to get instant cash when you are in a tough spot. Like any other loan, you have to pay your dues on time or as soon as you are financially stable. Repaying your loan on time increases your loan limits and credit rating. Here is a quick guide on how to repay Okolea Loan.
Pay Okolea loan using M-Pesa paybill number
- Go to your M-Pesa menu
- Select Lipa na M-Pesa
- Choose Paybill
- Enter the Okolea Paybill number 245316
- Key in your mobile phone number as your account number
- Enter the amount you are paying
- Enter your M-Pesa pin
- Confirm the transaction by Okaying it
- M-Pesa will send you a message acknowledging the transaction
- Okolea will equally update its app information on your loan status
Paying Okolea loan using app
- Log into your Okolea application
- Select on Repay Loan button
- Enter the amount you wish to repay
- Key in your M-Pesa PIN
- You will get a confirmation message of the payment through M-Pesa; the app will also automatically credit the transaction to your account.
Failure to repay your loan on time attracts negative Credit reference Bureau listing and your name being forwarded to debt collectors. However, before negative listing, there is always the repayment grace period. You can also pay your debt in bits until you clear them.
