1 Editors' Choice Of 2021
Dime enables people in formal employment (contracted and permanent) in Kenya to access loans anywhere and anytime.
Get It From App Store Get It From Play StoreDime offices are in Nairobi, Kenya.
At the moment Dime only operates in Kenya.
At the moment Dime is only available in English but we will have a Kiswahili version in the near future.
We appreciate your interest. Kindly follow visit our website www.dime.co.ke and look for our careers page to see a list of our current vacancies.
To edit your personal details on the app, click on “My Account” and click “Edit” under “Personal Info”.
To register a new mobile money number, click on “My Mobile Number” then click on “Add Account”.
Dime will send you a link to your phone to enable you validate your mobile money account to ensure that it is on a supported carrier and that it belongs to you. Click on the link sent to you then click on the phone number labeled NOT VALIDATED that you wish to use as your Dime phone number. Click on “Validate” and then “Continue”. You will receive a 4 digit SMS message that you will enter in the app to validate the number. .
If you see this error message it means that Dime cannot detect the SIM in your phone. Kindly remove all other SIMs from your phone (dual SIM phones) and leave only the Safaricom SIM and then log back into the app. You should now be able to add your number and proceed to validate it.
At Dime we ensure conformity to the highest standards of data integrity, which means that you cannot change information that was previously used to process a successful loan application. This means that we do not allow changes to the ID number after a loan is disbursed.
You can delete your account, however, please make sure that you have repaid all your loans and send us the deletion request through the in-app chat.
Requirements are simple – your employer will be registered on the app then they will in turn send you a registration link to your phone, which will assist you completing the registration. During registration we will request access to the data on your phone to assist us in determining your eligibility.
Dime will use the information from your employer’s payroll and data from your phone, which includes your handset details and SMS messages to make lending decisions. We also combine this with your Dime loan repayment history to build an individualized credit score that will determine future the loan offers we will send to you.
If your loan application is rejected when you apply, don’t give up. Sometimes it may take several attempts to qualify for a loan. We encourage you to continue saving data on your phone and to reapply after the period stipulated.
We aim to process all eligible loans within 24 hours. On average we process loans in less than 3 hours and hope to reduce that to a few minutes if all requirements are met.
Dime uses data from your phone as well as information from your employer to make lending decisions. To increase your chances of approval, please ensure to save the data on your phone, pay your loans with all other lenders, and correctly input your account details.
Once a phone number has been used to access a loan from Dime, it cannot be used by anyone else. You will require a new Safaricom number that has not been used for a Dime loan before.
Your employer will make the relevant deductions every month end and send them to Dime. Directly from Mpesa
We advise that you make your repayments as they appear on your loan schedule on “My Loan” page. When you skip other repayments and then pay the loan on the last due date will negatively affect your future loan amounts.
To view your repayment information, kindly click on the menu on your top left and select “My Loan”. You will be able to see your installments, due dates and the amount due on those dates.
Depending on the loan size you select, a monthly repayment option is available. Click on the blue arrow below “Select Terms” on the “My Loan” page to choose between weekly or monthly payments before requesting the loan. If you choose weekly repayments, you will need to pay each installment by its weekly due date in order for your loan to be considered on time.
If you do not receive confirmation from Dime that your repayment was received within a few hours, kindly send us the transaction confirmation message you received and the number you used to make the payment via our Customer Care email or call our Customer Support Line 0768 528 200
We strongly encourage you to repay your loan on the dates as indicated on the app under “My Loan” to increase your loan offer amount.
If you overpay your loan on your last repayment, the amount will remain on your account and will be applied on the repayment of your next loan.
Dime takes your privacy very seriously and through this Privacy Policy we explain what personal information we collect, with whom we share it, and how you (the end user of the Service) can prevent us from sharing certain information with certain parties.
Please ensure that you read this Privacy Policy in its entirety. .
This Privacy Policy applies to you in terms of the following:
"Authorities" includes any judicial, administrative, public or regulatory body, any government, any Tax Authority, securities or futures exchange, court, Central Bank or law enforcement body, or any of their agents with jurisdiction over Dime.
"Compliance Obligations" means obligations for Dime to comply with:
"Customer" or "User" means any individual within the Republic of Kenya to which Dime provides its products or services.
"Customer Information" means your Personal Data, confidential information, and/or Tax Information, including relevant information about you, your transactions, your use of our products and services, and your relationships with Dime.
"Financial Crime" may mean money laundering, terrorist financing, bribery, corruption, tax evasion, fraud, evasion of economic or trade sanctions, and/or any acts or attempts to circumvent or violate any Laws relating to these matters.
"Laws" include any local or foreign law, regulation, judgment or court order, voluntary code, sanctions regime, an agreement between any member of Dime and an Authority, or agreement or treaty between Authorities and applicable to Dime.
"Personal Data or Information" refers to any information whether recorded in a material form or not, from which the identity of an individual is apparent or can be reasonably and directly ascertained by the entity holding the information, or when put together with other information would directly and certainly identify an individual.
"Sensitive Personal Information" refers to Personal Information as follows:
"Services" includes maintaining the App available on our site OR hosted on the App Site, Google Store, or once you have downloaded a copy of the App onto your Device.
"Tax Authorities" means Kenyan or foreign tax, revenue or monetary authorities.
"Tax Information" means documentation or information about your tax status
"We", "Our" and "Us" refer to Dime. Reference to the singular includes the plural (and vice versa).
We may collect and process the following data about you.
Information you give us about yourself - submitted information:
This information may include your name, address, e-mail address and phone number, the device's phone number, SIM card details, age, username, password and any other registration information, financial and credit information (including your mobile money account details, bank account details), personal description and photographs.
Each time you visit one of our Sites or use one of our Apps we may automatically collect the following information:
We collect information for the following purposes, including but not limited to the following purposes:
We may also use GPS technology or any other location services to determine your current location. You can withdraw your consent to our collection, processing or use of this information at any time by logging out and uninstalling the Dime App from your device.
Due to the nature of the Services we provide, we are required to work with a number of 3rd parties which includes Credit Reference Bureaus and Mobile Network Operators) and we may also receive information about you from them.
a. Installation and Uninstallations
When you install or uninstall a Service containing a unique application number or when such a Service searches for automatic updates, that number and information about your installation, for example, the type of operating system, may be sent to us.
b. Tracking Cookies
We may use mobile tracking technologies and/or website cookies to distinguish you from other users of the App, App Site, or Service Sites. This helps us to provide you with a good experience when you use the App or browse any of the Service Sites and also allows us to improve the App and Our Service Sites.
c. Use of the Collected Information
We may associate any category of information with any other category of information and will treat the combined information as personal data in accordance with this Policy for as long as it is combined.
Information collected by us shall be used for the purpose of determining whether or not we will give a loan to a customer, the amount of the loan and the terms and conditions applicable to the loan.
Save for compliance with an order of the Court, Arbitral Panel, Tribunal, Regulatory Directive or Order or any other legal or regulatory obligation, we do not disclose information about our clients to other parties, but we may provide them with anonymous aggregate information about them e.g. only statistical data (500 men aged under 30 have applied for a loan on a given day).
d. Disclosure of your information
We may disclose some or all of the data we collect from you when you download or use the App to Credit Reference Bureaus. We may disclose your personal information to any member of our group, which means our subsidiaries or affiliates.
Where do we store your personal data
The data that we collect from you may be transferred to, and stored at a destination outside Kenya. It may also be processed by our staff operating outside Kenya or for one of our suppliers. These staff members may be engaged in the fulfillment of your requests. By submitting your Personal Data, you agree to this transfer, storing or processing of data. We will take all steps reasonably necessary to ensure that your data is treated securely and in accordance with this Privacy Policy. We may also disclose your data to anyone we consider necessary in order to provide you with services in connection with an account.
Where we have given you a password/PIN or where you have chosen a password that enables you to access certain parts of Our Service Sites, you are responsible for keeping this password/PIN confidential. This password/PIN should not be shared with anyone. Unfortunately, the transmission of information via the Internet is not completely secure although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to Our Service Sites; any transmission is at your own risk. Once we receive your information, we will use strict procedures and security features like data encryption to try to prevent unauthorized access.
f. Your rights and obligations.
We will use your data for the purposes of compiling statistics relating to our user base or loan portfolio and may disclose such information to any 3rd party for such purposes, provided that such information will always be anonymous.
You agree to inform us promptly, and in any event, within 15 days, in writing if there are any changes to Customer Information supplied to Dime or a member of our staff from time to time, and to respond promptly to any request from us.
In addition, if you fail to supply promptly your Tax Information and accompanying statements, waivers and consents, as may be requested, then we may make our own judgment with respect to your status, including whether you are reportable to a Tax Authority, and may require us or other persons to withhold amounts as may be legally required by any Tax Authority and paying such amounts to the appropriate Tax Authority.
You agree that we shall not be liable for any loss or damage arising from or incidental to our use, collection, processing and sharing of Customer Information, and any action we have taken in relation to this Section
Should we wish to use your information for marketing purposes, we will inform you prior to such use. You shall be entitled to prevent such usage by informing us, within 7 days of being informed of the proposed use, that you do not wish to disclose such information. You can also exercise the right at any time by contacting us at info@dime.co.ke.
Any changes we may make on this Policy in the future will be posted on this page and, where appropriate, notified to you when you next log into the App or log onto one of our websites.
The new terms may be displayed on-screen and you may be required to read and accept them before you are allowed to continue your use of the App or the Services. In any event, by continuing to use the App or any Services after the posting of any changes, you confirm your continuing acceptance of this Policy together with such changes, and your consent to the terms set out therein.
To apply for a loan, kindly click on “My Loan”, choose the type of loan you need, select your repayment terms and amount, then click “Request This Loan”. Make sure that you confirm all the required fields and click “Apply”.
Our loan sizes range from Ksh250 to Ksh30,000. If you repay your loans as per the schedule, the amount that you can borrow will increase.
The loan offers you see depend on a number of factors including your net pay and your repayment history with Dime. If you repay each installment by its due date, you may unlock access to larger loans over time but this may not always be immediate, and that repaying your loan late may result in smaller loan offers.
Unfortunately, you won't be able to access a loan of a larger size.
At the moment, the highest loan amount we offer is Ksh30,000 but this may increase in the future.
Your loan offers are automatically determined by a number of factors though it may not always increase immediately, it will increase over time as you continue to make all of your repayments as scheduled.
Each loan amount is automatically determined by our systems each time you repay your loan on time, which is based on a number of factors. We encourage you to keep making your repayments as scheduled to increase your loan amount.
When you pay each installment by its due date allows you to access larger loan sizes in future. Late repayments will affect your ability to get subsequent or larger loans. If you are very late (as per the terms and conditions) on your payments, we report to the Credit Reference Bureau (CRB). Blacklisting by the CRB may affect your ability to borrow from other lenders.
Unfortunately, Dime will not allow you to alter your repayment schedule after you've received a loan. If you are unable to repay the full amount due, we advise you to start making partial repayments as soon as possible.
A Credit Reference Bureau (CRB) collects credit information on individuals and can provide your repayment performance data to banks, lenders, and potential employers as and when required. CRBs help in promoting financial inclusion and prevent over indebtedness.
We will update and forward your details to the CRB for clearance and if you wish to acquire a clearance certificate, kindly contact CRB within a week of making your repayment.
Metropol and TransUnion.
If your account has been cleared with the CRB, please send a request to our Customer Care for the batch number and liaise with Metropol and TransUnion directly to follow up on your certificate.