Last updated on November 23rd, 2021 at 06:53 am
Loan How many times have you applied for a loan in your life? Once, twice, thrice or often? It’s not you only.
Researches say that many Americans can’t even afford $400 to pay. Irrespective of which country you are, loan is the ultimate solution to sort financial problems.
How to borrow a loan from iPesa App?
Borrowing instant loans are not always hectic.
Gone are those days when you had to stand in a long queue and wait for months for loan approval. Now everything is in your pocket.
Your bank too! Your lender too!
iPesa is a great mobile money lender. It is Kenyan financial Technology that provides services through iPesa easy loan app.
It is owned by Osome Fintech Company.
People who live in Kenya and are in need of money can use this app to sort out their problems.
If you have M-Pesa in your phone which is a money transfer service, you can easily get a high amount of money through iPesa as the first loan in Kenya.[su_table]
|App Name||iPesa – Reliable and Safe Credit Loans to M-PESA|
How much loan amount can I borrow?
Ipesa Loan Amount Limits
The loan amount can be anywhere between 500 ksh to 50,000 ksh. The shortest tenure for loan is 91 days whereas the longest goes as much as 180 days. They don’t charge service fees.
But remember you must be 18 years old or above to be eligible to borrow a loan.
Loan Interest Rate
The interest rate depends on your repayment history. It can maximum goes to 36%. But if you have done previous payments on time then it can go below. Now the overpayment depends on the amount that you borrowed and the interest rate that the iPesa is applying to you.
Suppose you have borrowed 1000 ksh and the interest rate is 15% then the amount you need to pay over is…
1000 ksh * 15/100 = 150 ksh
Total Amount to be Paid= 1150 ksh
What are iPesa loan App requirements?
- Safaricom phone number. It should be linked to your M-Pesa account.
- National ID as a valid means of identification.
- You have to answer a few questions.
- Allow access to the data on your phone so that it can make lending decisions and iPesa registration easy.
Read about Kenya’s popular Zenka Loan App
How to apply for an iPesa loan?
Just follow these simple steps and your loan will be applied.
- If you do not have iPesa quick loan app on your phone, download and install it.
- Create an account and get registered.
- Enter the required details.
- Check the loan limits and enter the amount you want accordingly.
- Now, apply.
- Set the repayment date.
- You get the loan amount in your M-Pesa account.
- Repay before or on the set date to increase your loan limits.
Late Payment Penalties
You can pay the loans within 14 days of disbursement. If for some reason, you fail to repay the loan, iPesa will penalize you as per their terms and conditions.
Please have a look at this Terms and conditions picture.
How to repay iPesa loan via M-Pesa paybill 192010?
Whether it is borrowing a loan or repayment, iPesa makes every process easy and simple. Follow these quick steps to complete the repayment procedure via M-Pesa.
Step 1:- Open the M-Pesa app on your phone.
Step 2:- Go to the Safaricom menu option
Step 3:- Click on Lips Na M-Pesa.
Step 4:- Click on the paybill option.
Step 5:- Now you have to enter the paybill number 192010.
Step 6:- Enter your M-Pesa number which is linked with the account.
Step 7:- Enter the amount you want to repay and then the M-Pesa pin.
Step 8:- Recheck the details and click OK to confirm.
Also Read about Opesa Loan app of Kenya.
How to Check Loan Balance?
You can check your Loan balance on the dashboard. It will also show you the total days left for the repayment.
How to download iPesa Loan App?
For downloading the iPesa app’s latest version simply visit your google play store. And search the app name. After that click on the most relevant app and hit the install button. The iPesa loan app is free to download from the play store. But if you want the app’s apk file then you can visit apkpure.com. And follow the same mentioned steps.
Can I Get iPesa loan Via USSD code?
No, you can’t get a loan via SMS because iPesa doesn’t provide this service yet.
Is iPesa safe?
iPesa uses data security and encryption Technology. It takes your details but your privacy is never violated. The details never get shared with third parties. If it is shared, they do it for dedicated business purposes like reporting defaulted loans.
You can contact iPesa loan app customer care through the following means.[su_table]
|Call:-||0757 222 979|
You may like to read about Utunzi Loan App of Kenya.