Tag Archives: Cheapest loans in Kenya

Cheap Mobile Loans

Quick and fast mobile loans Aps: Get your loan instantly

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Mobile loans have become more popular for customers seeking quick loans. Unlike over the counter loans, mobile loans offer convenience and flexibility. Take for example if one had an emergency; that requires financial attention, over the weekend and on public holidays when most banking halls are closed! Such an individual will suffer a great deal. But thanks to mobile loans Apps, one can process the loans online and instantly. All what is required is a smart phone and you will get your loan instantly. Furthermore, mobile loans are paperless and thus very few requirements, if any, are needed. Again, there so many lenders providing loans online. The Mobile lenders have developed Apps that can be downloaded freely from Play Store. Here is one of the lenders providing such loans online.

The Kenya Quick Loans Shop

Kenya Quick Loans Shop connects lenders and borrowers. This is an open loans app

Welcome to Kenya Quick Loan app. This is an open loans or peer to peer lending app. This loans app is meant to be a platform geared to connect lenders and borrowers. If you are a borrower in need of quick long term loan, student loan, investment loan, business loan, emergency loan, medical loan, etc, you can download this loan app and fill a loan application form. Your loan offer, which means terms of your loan, will be published, and app users willing to lend you based on them will contact you if they like your offer, and sort your urgent need.

Information for Borrowers

As a borrower, we share your email contact with lenders, upon payment of nonrefundable advertising fee amounting to between Ksh 150 and Ksh 200. Please note that the app developers/managers are not lenders. They only facilitate a platform where lenders and borrowers connect through the loans app.

As a borrower, you can quicken the process of getting loan by using this loan app since lenders are individuals/companies that are waiting ready to invest their money and earn interest. Since it’s an open loans app, we neither facilitate signing of agreement nor arbitrate between borrowers and lenders. Our work ends when we publish your loan offer, and we do not guarantee that all will succeed. Your terms as a borrower will determine how fast you will get loan, not us! The assumption is that all users are aware of our role before transacting with us or any user of this loans app. Please do not send any fee to us before reading and understanding our app. Kindly use our email kenyaquickloanshop@gmail.com for any inquiry on a lender, clarification or any other issue!

Information for lenders

As a lender, this is a platform to get borrowers to offer loans to. You are able to choose from many borrowers, and negotiate terms.

Lenders must comply with the law. Please note that lending users must abide by the following:

1). Must not charge upfront fee or security deposit to access loan products unless they are registered by Central Bank of Kenya as a deposit taking institution
2). Must clearly disclose their interest rate.
3). Company lenders must have their business location verified for us to recommend them to borrowers
4). Individual lenders may be required to verify their identity for us to recommend them to borrowers

Any user of this loans app can be a lender/borrower. You can have this loans app if you wish to make money lending to borrowers, or you are in need of a lender.

Users of this loan app are recommended to observe due diligence when transacting with other app users. Kenya Quick Loans Shop is good to try for a desperate borrower. To many users, it comes in handy where banks, relatives, and other loan to MPESA apps prove hard to get help from.

Download and install this App today and get lending quickly.

Cheap Mobile Loans

Cheap Mobile Loans: Haraka Mobile loans app download and how to get lending easily

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Haraka Mobile Loans is powered by GetBucks; a popular online lending company. As the name suggests; Haraka (Quick), you can easily and conveniently get lending at any time.

Haraka is the quickest and most convenient way to get a loan while you’re on the go! Haraka can offer you access to credit; anytime and anywhere on the comfort of your mobile phone.
NO BANK ACCOUNTS OR CREDIT HISTORY REQUIRED!

GET A LOAN IN 4 EASY STEPS:

  1. Create your account by logging in to Facebook
  2. Agree to the use of your Phone Data
  3. Choose your loan amount and click Proceed
  4. Check your Mobile Wallet for your Money

HOW DOES IT WORK?

In order for Haraka to facilitate quick and easy loans we make use of the data on your phone. Credit scoring, affordability and identity verification is determined by scanning your Mobile wallet SMS transaction messages, call logs, and other phone data.

DATA USE

The Haraka Mobile Loans app uses data from your mobile phone to create a loan application for you. The data is used to determine your financial and non-financial behavior, transaction history, and identify financial fraudulent activity. The data is used to calculate a mobile wallet credit score, loan affordability and loan eligibility.

The below data is used to determine your behavior.

  • Contacts
  • Location
  • Apps installed on your phone
  • Device make, model, firmware and software versions

The below data is used to determine client behavior, mobile wallet activity, affordability, and read mobile wallet transactions.

  • Mobile Wallet SMS transaction messages

To apply for a loan, you must agree for the Haraka app to collect and process this data. Your data is only used for the loan application process and is not sold or re-used for other purposes. After clicking agree in the Haraka app, the app will collect the above data from your phone for this and each future loan application. This message also appears within the app.

Haraka is supported in the following countries:
Kenya
Uganda
Zimbabwe
Swaziland
Tanzania

How to get the Haraka Mobile Loans App

The Haraka Mobile Loans App is available at Google Play Store. Just open Google Play Store on your phone and Search for ‘Haraka’, click to install it and you are hood to go.

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Cheap Mobile Loans

Quick and Cheap Mobile Loans: The KCB loans App download and how to get lending quickly

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The Kenya Commercial Bank, KCB, Mobile App for KCB and non-KCB customers is the one-stop place for all your banking and financial needs. Featuring a bold and modern visual design, it’s been carefully crafted to deliver a beautiful user experience. The loan App is available at Google play store.

The KCB Mobile App provides an easy and secure way to:

  • access your account, send money, withdraw cash…
  • access to loans allowing customers to borrow loans on the fly.
  • ability to add and track your credit cards, debit cards…
  • access charts and graphs to help you visualize your spending
  • track stocks, foreign exchange rates, properties…
  • access financial trends, success stories, expert tips…

How to get KCB loans

Get the KCB loans via your mobile phone by downloading the KCB App from Google play store. All you need to do is to search for the KCB App on Play store,download it and you are good to go.

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Banks and Money

KCB increases Mpesa loans’ interest rates by almost double figures

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Mobile loan subscribers were caught unawares after the Kenya Commercial Bank, KCB, increased interest charged on its mobile loan facility by almost double figures. The bank adjusted the interest rate upwards to 7.05% per month.

“Effective 02 – 08 – 2018, KCB MPesa loan interest rate has been reviewed to 7.05% per month from 4.08 per month,” said the bank on its official Twitter account. This response came after an outcry from customers. “Have you revised the interest on KCB MPESA LOANS?just got a message that my next loan will be charged at 7.5% from the previous 4.03%?,” wrote one Mr Ezeulu; in a request to KCB.

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The cost for the 1 month loan has been 4.08% with excise duty applicable on negotiation fees.

KCB now charges an interest rate on its mobile loans that is close to that payable on Mshwari loans; where a one-time fee of 7.5% is levied for each loan. While, Barclay’s Timiza effects an interest rate of 6.17. On their part, Safaricom’s Fuliza loans attract a facility fee of 1.083 percent of the value of the credit. An additional administrative fee of up to Sh30 is charged for each day that the loan remains unpaid. The overdraft facility has a term of 30 days beyond which a borrower is deemed to be in default.

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Quick, Convenient, fast, Cheap and unsecured Mobile loans in Kenya
Cheap Mobile Loans

Cheap mobile loans; Timiza loans app download and loan application

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Timiza is a loan product from Barclays Bank of Kenya. This loan is available via mobile application. With the advent of paperless banking, mobile loans is the way to go. The beauty with mobile loans is that the loan processing is convenient and flexible.

With Timiza you can do your banking on your phone whether you want to open an account, get an instant loan, transfer funds or purchase insurance.  But that’s not all.  If you are already registered for Timiza, you can also save and earn high returns and great rewards with our Zidisha account.

Get started with Timiza

• Open an Account instantly.
• Save and earn rewards with Zidisha.
• Get instant loans on your phone.
• Deposit funds into Timiza.
• Purchase insurance.
• Buy airtime.
• Pay for KPLC/ZUKU/DSTV/GOTV bills.

What are the requirements for a customer to have a Timiza Account?

• Be a registered Safaricom Subscriber.
• Be a registered Safaricom M-PESA customer.
• Have an active Safaricom M-PESA account/line.
• Hold a Kenyan National Identification Document (ID) Kindly note that Kenyan passports are not allowed.

Timiza Tariff and Guides

Please refer to the Timiza Tariff and frequently asked questions on the link below:

Who is eligible for a Timiza Loan?

In order to qualify for a loan, you need to be an M-PESA subscriber for more than 6 months, actively use other Safaricom services such as voice, data and M-PESA. You will also need to have a good rating at the Credit Reference Bureau [CRB] and by Safaricom on Okoa Jahazi. 

What are the features of the Timiza Loan?

• If you qualify, your loan limit will be displayed when you log in to your Timiza account and you can borrow.
• Timiza Loan attracts an interest charge of 1.083% charged once and a facilitation fee of 5% of the amount borrowed for a term of 30 days.
• Loan is disbursed to the Customer’s Timiza account (not directly to M-PESA). The Customer will access the funds by withdrawing from Timiza to M-PESA
• To grow your loan limit:
        a.  Increase activity on your TIMIZA Account by transacting on other services offered on  Timiza. For example, Deposit cash, Purchase airtime, Pay your utility bills, Subscribe to Insurance.
        b.  Open and Increase savings on your Zidisha savings account on Timiza
        c. Increase usage of M-PESA services

How to install the Timiza loan app

This loan app can be easily installed from Google play store. Just open Play store from your mobile phone, search for Timiza loan app and install it. With this you are good to go.

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Cheap Mobile Loans

Simple, cheap and fast mobile Loans: The Berry loans App download and how to get lending quickly

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Mobile loans have become more popular for customers seeking quick loans. Unlike over the counter loans, mobile loans offer convenience and flexibility. Take for example if one had an emergency; that requires financial attention, over the weekend and on public holidays when most banking halls are closed! Such an individual will suffer a great deal. But thanks to mobile loans Apps, one can process the loans online and instantly. All what is required is a smart phone and you will get your loan instantly. Furthermore, mobile loans are paperless and thus very few requirements, if any, are needed. Again, there so many lenders providing loans online. The Mobile lenders have developed Apps that can be downloaded freely from Play Store. Here is one of the lenders providing such loans online.

The Berry Mobile Loans

Berry, Kenya’s newest mobile money lending App. Berry, Kenya’s unique mobile money lending App, credits you with low cost loans with flexible repayment schedules. Get the cash simply and swiftly straight to your mobile wallet.

How it works?

• Download the free App from Play store and Register
• Log in
• Click on ‘Apply Now’
• Select your loan amount and repayment options
• Get the approved amount into your M-Pesa instantly

Privacy and Permissions:

Once you download Berry, we will ask you to provide permissions to scan your SMS in order to validate your identity and creditworthiness. Instant loans amount will be credited directly into your M-Pesa account. Berry has taken thorough steps to secure your private data you share with them using advanced encryption mechanisms. They take your privacy very seriously and promise to never share your information to anyone.

Terms:

Berry is very flexible and charges affordable and low service fee ranging from 8% to 15%. They offer loans for different durations.

Berry charges a processing fee of 9-15% of principal amount. The customer determines their own repayment schedule meaning customers may make payments towards their principal at any time after disbursement. If a customer has not paid the processing fee the principal amount on the due date, Berry extends a further 7 days to allow the customer to make the payment. Only after the grace period has elapsed will a onetime late payment fee of 15% (processing fee+ the principal amount) be changed. No other fees will be charged after this time.

Important to note:

All the above information will be displayed in a broken-down form for the customer on the App upon qualifying for a specific amount before a customer accepts to take up the facility.

Sample Loan:

Borrowed amount: 1000 KES
Processing Fee: 150 KES
Expected Payback amount 1150 KES

With Berry at your fingertips, you can handle emergencies, clear bills, pay school fees, etc. Basically anything you need to keep your life moving forward and embracing any opportunity that comes your way.

Want to reach Berry? Use Email; support@berry.ke

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Banks and Money

Mobile loans lending company Tala closes its operations in Tanzania

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Mobile loans lender Tala has closed its operations in Tanzania without divulging further details. In a statement on its Social media platforms, the company said it will no longer offering loans in Tanzania. Those servicing loans can continue to repay though.

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“We regret to inform you that Tala is no longer offering loans in Tanzania. We appreciate the opportunity to serve you, and wish our loyal customers continued success in your financial journeys. You can use the following paybill number to pay outstanding balances,” reads a brief note from Tala.

Tala Tanzania PayBill Number.

The Company did not however give reasons for the haste decision. But it is expected that they will give a full presser later this week. Apart from Tanzania, Tala operates in Kenya, India and Mexico; among other countries.

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Quick, Convenient, fast, Cheap and unsecured Mobile loans in Kenya
Cheap Mobile Loans

Cheap and quick mobile loans: The Okolea loans App download and how to get lending quickly

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Okolea is an app that provides instant loans to Kenyans through their mobile phones. Clients’ loan limits are reviewed and increased every time they repay their loans on time. The loans are processed online and instantly.

Registration

Download the Okolea app, fill in the form, and submit. The app will redirect you to an easy to use home screen. You are then required to go to your profile and fill in other required details to enable them serve you better. The App is available at Google play store.

Loan Limits

When you register with Okolea you get assigned a loan limit after your account is appraised which allows you to borrow instantly any amount equal or less than their assigned limits. Every time you repay your loan on time, you get a loan limit increase.

Interest Rates

Okolea loans interest rate is low at 0.5% per day to ensure that you enjoy our facility and repay without experiencing financial strain.

Okolea app is awesome and here is why;

1). Instant access to loans sent straight to your mobile phone.
2). You can borrow more than 1 loan at a time. As long as you are within your loan limit.
3). Ability to sort out emergency situations when they arise no matter where you are.
4). Your information is secure and is not shared with third parties.
5). Lowest interest rate in the market.
It is easy to use.

In need of Okolea loans? Get to your Play store today, search for Okolea loans, install the App, register and receive your loan instantly.

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Banks and Money

Banks Loans- Full list of Assets/ Items for securing a bank loan

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At one time you may need a loan to start up a project, buy an asset or pay up for any other financial obligation that requires lump some payments. Better still, finances may be required during emergencies like medical bills payment, education and many more. The loans can be obtained from a variety of financial institutions like banks and SACCOs.

There are two types of loans that can be advanced to customers by banks; Secured and Unsecured loans. Unsecured loans do not require any collateral and are advanced to salaried employees. Secured loans, on the other hand, require a collateral.

Here is a list of the commonly required collaterals by Kenyan banks in order to give a secured loan:

  • House hold items: These include such items as TV sets, cookers etc. Banks which can give you a loan by using these items as security are: KCB, KWFT, Equity and Cooperative bank.
  • Motor Vehicle; If you own a motor vehicle that is duly registered under your name, then go for a secured loan from: NIC, Equity, KCB, CBA and Platinum Credit.
  • Furniture; Your furniture; tables, chairs and cupboards can act as collateral to garner financing from: KWFT, KCB and Equity Bank.
  • Livestock; Cows, goats and chicken can be used to get a loan from: Equity and KCB.
  • Stock trade; Individuals with shares at the Nairobi stock exchange can use them to process secured loans from Equity Bank.
  • Inventories can be used to acquire a loan from Equity Bank.
  • Bank Accounts; Healthy bank accounts with a good financial flow can be used to process loans from: Equity, I&M and Standard Chartered Bank.
  • Crops like tea plantations can enable you secure financing from Equity and Juhudi Kilimo.

In need of a secured loan? Now you know how to get one.

Cheap Mobile Loans

Fast and cheap online Loans: The Fadhili loans and app download

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Mobile loans have become more popular for customers seeking quick loans. Unlike over the counter loans, mobile loans offer convenience and flexibility. Take for example if one had an emergency; that requires financial attention, over the weekend and on public holidays when most banking halls are closed! Such an individual will suffer a great deal. But thanks to mobile loans Apps, one can process the loans online and instantly. All what is required is a smart phone and you will get your loan instantly. Furthermore, mobile loans are paperless and thus very few requirements, if any, are needed. Again, there so many lenders providing loans online. The Mobile lenders have developed Apps that can be downloaded freely from Play Store. Here is one of the lenders providing such loans online.

Fadhili loans

Fadhili gives you access to fast and convenient loans to your M-Pesa. Use our loans to grow your business, pay your bills or deal with emergencies.

Install Fadhili loan app from google play and create account and begin applying

Fadhili will check how you have been using your phone to make calls, sms, data and how you use mobile money services such as M-Pesa. Fadhili will notify you of the amount of money you can apply for and explain the repayment terms

The Quick Loan Fadhili offer:

  1. Loan Amount: Ksh 300 ~ 300,000 Ksh
  2. Loan Term: The shortest tenor is 91 days, the longest is 365 days
  3. Fees: 12%
  4. APR: 12%
    Service Fee: They charge additional service fee to cover the cost of credit scoring,payment cost, and account management.

Loan calculator

The amount varies for loan amount requested
Example: If the loan amount is Ksh 20,0000 for one year loan term with the total fees of 12%, then the APR will be Ksh 2,400 which is also the loan fee.

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Cheap Mobile Loans

Fast and cheap mobile loans: The Jazika loans App download and how to get lending quickly

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Mobile loans have become more popular for customers seeking quick loans. Unlike over the counter loans, mobile loans offer convenience and flexibility. Take for example if one had an emergency; that requires financial attention, over the weekend and on public holidays when most banking halls are closed! Such an individual will suffer a great deal. But thanks to mobile loans Apps, one can process the loans online and instantly. All what is required is a smart phone and you will get your loan instantly. Furthermore, mobile loans are paperless and thus very few requirements, if any, are needed. Again, there so many lenders providing loans online. The Mobile lenders have developed Apps that can be downloaded freely from Play Store. Here is one of the lenders providing such loans online.

Jazika Mobile Loans

Jazika mobile app is the new, more flexible way to borrow emergency cash online.

Jazika gives you access to fast and convenient loans to your M-Pesa. Use their loans to grow your business, pay your bills or deal with emergencies.

Download Jazika loan app from google play and create account and answer a couple of questions.

Jazika will check how you have been using your phone to make calls, sms, data and how you use mobile money services such as M-Pesa. Jazika will notify you of the amount of money you can apply for

They will then send the loan to your M-Pesa account immediately and explain the repayment terms.

Just search for Jazika loans App on Play Store, download it and you are good to go.

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Banks and Money

How to register and apply for MCo-opCash Salary Loan from Co-Operative Bank, Kenya, by using your phone, online; other loans

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Did you know that you can apply for an MCo-opCash Salary Loan as soon as your first salo hits your Co-op account?

How to register/ apply for Co-op bank loans

1). Dial *667# on your phone.
2). Enter 1 to register
3). Next, type in your User name
4). Enter Other names separated by spaces.
5. Then, correctly enter your National Identity (ID) Number or Passport Number.
6). The question on whether you ‘Have an account with Co-op bank’ pops up. Type 1 for Yes or 2 for No
7). Finnaly Accept or Reject MCo-op Terms and Conditions; Enter 1 for Yes or 2 for No.
A success message is displayed, thus; ‘Dear Customer, your request has been received. We will contact you soon. Thank you for using MCo-op Cash’.

MCo-op Loan
To qualify for MCo-op Cash Salary loans one has to be an Employed individual or individuals with a regular income.

Features of the Mco-op Cash loan

1). Minimum loan amount of Ksh 50,000
2). Maximum loan amount of Ksh 4,000,000
3). Maximum term of 72 months
4). Purposes to be covered include education, medical, furniture, consumer durables, motor vehicles, plot purchase, holidays and shares
5). Applications to be appraised using credit scoring
6). Applications appraised within 48 hours

Requirements
1). Original National Identity Card and a copy
2). Original PIN Certificate and a copy
3). No specific minimum net salary is required
4). Salary pay slips for the last 3 months
5). Filled in loan application form
6). Copy of KRA PIN

OTHER PERSONAL LOAN PRODUCTS

ASSET FINANCE LOAN

This is a loan product used to finance purchase of an asset e.g land, vehicle etc.

Features of the Asset Finance Loan
1). Financing of all types of moveable assets such as laptops, computers, printers, saloon cars, pickups, tractors, prime movers, school buses, generators and even medical equipment
2). Financing of both new and second hand assets
3). Competitive pricing in both local and foreign currency
4). Flexible repayment period
5). Automatic reminders of insurance expiry

Requirements
1). Copies of identification
Invoices and/or importation documents
2). Copy of KRA PIN

MKOPO WA KUJENGANA LOAN
Mkopo wa Kunjengana loan is available to individual group members. The group must be registered as a self-help group by the relevant government authorities.

​FEATURES
1). Get up to 5 times the accumulated cash collateral savings
2). A cheque book
3). Co-op Cash debit card
4). Monthly statements

Requirements
1). Members qualify for the loan after 8 weeks of training
2). The loan is based on a co-guaranteeing mechanism
3). Copy of KRA PIN

FLEXI CASH SALARY ADVANCE
Get a short term loan in case you run out of cash before end month.

​FEATURES
1). Borrow from Ksh 3,000 to a maximum of Ksh 100,000
2). Recovery is done within 1 to 3 months
3). No security needed
4). Instant processing
5). No facilitation fee, if you apply via MCo-op Cash

For clarification, use the official Co-op banks contacts listed below.
1). Call Center Numbers: 020-2776000, 0703027000
2). Email:
Customerservice@co-opbank.co.ke
3). Whatsapp: 0736690101

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Top mortgage companies in Kenya; Cheapest and easy to get loans
General News

Why it is now easy to do business in Kenya

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Kenya has jumped 19 positions in the Ease of Doing Business from position 80 last year (2017) to position 61 this year, out of 190 countries. The World Bank has attributed this improvement to various reforms implemented by the government of Kenya.

This is the first time since independence that Kenya is ranked in the top 65 nations as far as the Ease of Doing Business is concerned, and the 3rd time in four years to be among the top 10 most reformed countries globally.

According to the 2018 World Bank Doing Business report, the main improved areas that propelled Kenya to a better position include: Getting Credit, Protection of Minority Investors, Resolving Insolvency, Paying Taxes, and Trading Across Borders.

Kenya has been ranked alongside Afghanistan, Djibouti, China, Azerbaijan, India, Togo, Côte d’Ivoire, Turkey and Rwanda as countries with the most notable improvement in the 2018 ease of doing Business report by the World Bank.

President Uhuru Kenyatta has expressed his optimism that Kenya will rise even higher in the Ease of Doing Business, as the country continues to implement more reforms. He noted that more needs to be done in low scoring areas to further close the gap.

“One of the reforms that has enabled our rise in the ease of doing business is the introduction of strict regulations within the private sector that protect the investments of SME’s,” President Uhuru said today while addressing guests at State House, in Nairobi.

Cheap Mobile Loans

Easy and flexible mobile loans: Get the Africaloan Kenya loans today

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Mobile loans have become more popular for customers seeking quick loans. Unlike over the counter loans, mobile loans offer convenience and flexibility. Take for example if one had an emergency; that requires financial attention, over the weekend and on public holidays when most banking halls are closed! Such an individual will suffer a great deal. But thanks to mobile loans Apps, one can process the loans online and instantly. All what is required is a smart phone and you will get your loan instantly. Furthermore, mobile loans are paperless and thus very few requirements, if any, are needed. Again, there so many lenders providing loans online. The Mobile lenders have developed Apps that can be downloaded freely from Play Store. Here is one of the lenders providing such loans online.

Afrikaloan Kenya mobile loans

Afrikaloan Kenya provides you with convenient and fast loans online, allowing you to get your money directly to your M-Pesa account.

The Afrikaloan Kenya mobile app enables you to receive financial support wherever you are, and at any time.

A good credit history is the easiest way to ensure fast loans approval whenever you apply.
Improving your credit history is easy – simply download the app, take out loans and pay back on time.

SIMPLE AND CONVENIENT

Three easy steps of getting a loan online:

  1. Download our app
  2. Apply for a loan
  3. After approval, receive the money on your M-Pesa account. Pesa chapchap!

You can a get a second loan with just a couple of clicks! Get access to bigger loans, lower interest rates, and flexible repayment terms. Increase your loan limit up to Ksh 50 000!

WHY PEOPLE CHOOSE AFRIKALOAN?

  • It’s completely online. There’s no need to go to an office to get a loan, simply install the app and fill in a short application form, whenever and wherever you are.
  • Fast processing. You can get an instant loan on your Mpesa, as soon as you require financial assistance.
  • Great terms. Low interest rates and flexible loan repayment terms. No hidden fees or charges.
  • Safe and secure. They encrypt all personal data to protect your privacy and we never share any data with third parties.
  • Customer support. Their dedicated customer support team is always ready to answer any question you may have on Facebook and via email.

LENDING TERMS

Afrikaloan offers loans ranging from KSh 500 to KSh 50,000 (up to a USD 550 equivalent). The loan repayment terms are up to 52 weeks and our customers can always pay their loans off in advance. Annual interest rates for regular clients range from 10% to 182.5%, depending on your loan’s terms.

Interest rates are calculated depending on various factors, such as your repayment history and the cost of lending for Afrikaloan. There are no extra fees or charges and there is no collateral necessary. Standard SMS charges, payment system (M-Pesa) fees and your mobile carrier’s data charges may apply.

Here’s how interest rates are calculated:

For example, if you are issued a loan in the amount of KSh 2,000 for 7 days at a rate of 2.4% per day, including the day of issue. The total interest you pay for this loan will be KSh 384.

CONTACTS

Facebook: facebook.com/afrikaloankenya
Twitter: twitter.com/afrikaloan
Email: info@afrikaloan.com
Website: afrikaloan.co.ke