Loan Acquisition Requirements
1. Register with your M-Pesa number
2. Apply for the exact loan amount you need
3. Get approved and receive the money
4. Repay on time to get a credit limit of 50,000 Ksh
2. Apply for the exact loan amount you need
3. Get approved and receive the money
4. Repay on time to get a credit limit of 50,000 Ksh
Loan Interest Rates And Calculations:
1. Loan Amount: 500 Ksh ~ 50,000 Ksh
2. Loan Term: the shortest tenor is 91 days, the longest is 180 days
3. APR : Minimum 36% to Maximum 72%
4. Service Fee: 0%
5. Loan request: Need to be at least 18 years old or above
2. Loan Term: the shortest tenor is 91 days, the longest is 180 days
3. APR : Minimum 36% to Maximum 72%
4. Service Fee: 0%
5. Loan request: Need to be at least 18 years old or above
**Example: If the loan amount is 2500 Ksh, the loan term is 180days, and the APR is 72%, the total service fee should be 2500 Ksh * 72%(APR)/2 = 900Ksh. The total amount must be paid: 2500+2500*72%(APR)/2=KES3400
Loan Repayment Plans:
If you choose to make a one-time repayment, then you will make a one-time repayment of KES3400 after 180 days.
If you choose to make monthly repayments, your monthly repayment amount will be KES3400/6 = KES 566.67
If you choose to make monthly repayments, your monthly repayment amount will be KES3400/6 = KES 566.67
Fee Details:
Loan principal: 2500 Ksh (180 days)
Loan fee(total fee of the loan): 900Ksh(=2500 Ksh * 72%(APR)/2)
Total amount payable: KES3400(=2500 Ksh+2500 Ksh * 72%(APR)/2)
APR: 72%
Contacts
Facebook page: https://www.facebook.com/ipesakenya/
office address: ADLIFE PLAZA, CHANIA AVENUE, NAIROBI
office address: ADLIFE PLAZA, CHANIA AVENUE, NAIROBI
You can learn more about loan apps in Kenya on this website
