The DTB Weza Loan is an instant, unsecured 30-day loan facility offered by Diamond Trust Bank Kenya Limited (DTB). Designed to provide quick financial relief, the loan is accessible to DTB customers through mobile banking. Here’s a detailed guide on its features, requirements, and application process.
Features of DTB Weza Loan
- Loan Amount: Borrow from as low as KES 500 up to your assigned credit limit.
- Loan Term: 30 days.
- Accessibility:
- Available via the DTB m24/7 Mobile App.
- Accessible through the USSD code
*382#.
- Processing Fee: 7% of the loan amount, charged upon disbursement.
- Interest Rate: 13% p.a. (1.08% per month).
- Excise Duty: 20% of the processing fee, deducted at disbursement.
- Disbursement: Instant transfer of funds to your DTB account.
Requirements to Qualify for DTB Weza Loan
To qualify for the loan, you must meet the following criteria:
- DTB Customer: Be an account holder with DTB.
- Registered for DTB Mobile Banking: Enrolled and actively using the mobile banking platform.
- Transaction History: Actively transacting on your DTB account for over six months.
- Good CRB Rating: Maintain a positive credit score with the Credit Reference Bureau.
How to Apply for DTB Weza Loan
a) Using the DTB m24/7 Mobile App
- Log in to the DTB m24/7 Mobile App.
- Click on the Weza icon.
- Select your preferred account.
- Accept the terms and conditions.
- Authenticate by entering your PIN (you will be redirected to the app’s main screen).
- Click the Weza icon again to view your eligible limit and borrow instantly.
b) Using the USSD Code *382#
- Dial
*382#on your phone. - Select option 8 (Weza).
- Opt-in and select your preferred account.
- Accept the terms and conditions.
- Authenticate by entering your PIN.
- Dial
*382#again and choose option 8 (Weza), then select Loan Request. - Your eligible limit will be displayed, allowing you to borrow.
DTB Weza Loan Charges
- Interest Rate: 13% p.a. (1.08% per month).
- Processing Fee: 7% of the loan amount.
- Excise Duty: 20% of the processing fee.
- Rollover Fee: 3% of the outstanding balance if repayment is not made within 30 days.
What Happens If You Don’t Repay the Loan on Time?
If you fail to repay the loan within the stipulated 30-day period:
- Your repayment period is automatically extended for an additional 30 days.
- A rollover fee of 3% is charged on the outstanding balance.
What to Do If You Don’t Qualify for the Loan
If you don’t meet the requirements, here’s how to improve your chances:
- Ensure you maintain a good CRB rating.
- Increase activity in your DTB account through regular transactions.
- Maintain a positive account balance.
How to Grow Your DTB Weza Loan Limit
- Increase your savings in your DTB account.
- Engage in frequent and consistent transactions using your account.
How to Repay DTB Weza Loan
- Loan repayment is strictly done through your DTB account.
DTB Weza Loan Customer Care
For inquiries or assistance, contact DTB via:
- Phone: +254 719 031 888, +254 732 121 888.
- Email: [email protected].
Conclusion
The DTB Weza Loan is a fast and reliable financial solution for DTB customers, offering convenience through mobile banking. With its easy application process, flexible terms, and instant disbursement, it is an ideal option for addressing short-term financial needs. Ensure you meet the qualification criteria and maintain a good financial history to maximize your benefits.
