DevPesa One of the best All in One Chama App in Kenya. DevPesa is at the forefront as the most innovative fintech mobile application.
DevPesa enables Chama Individuals to borrow loans with little or no conditions and derailing terms in their Chamas.
DevPesa can help you have meeting-free Chamas(Informal Groups) by moving every single process to the App, by providing dynamic, customisable configurations from use of Mobile money to reports and notifications.
DevPesa personal finance app provides the following type of personal loans:
– Medical Loans/Emergency Hospitalisation Loans
– Development Loans
– Education Loans
Loan Interest Calculations
For example Devsmart Chama Personal loans range from Ksh 1000 to Ksh 30,000
Tenure: 65days to 1 year. Interest rates range from 3%-12% depending on the risk profile of the customer.
Example:
If the loan amount is Ksh 2000 & interest is 12% per annum with a tenure of 2 months, the interest for 2 months would come out to be Ksh40. The EMI per month would be Ksh1,020. This would translate to a maximum APR of 12%. The total cost of the loan will be Ksh 2,040. The total amount paid back including everything at the end of the term will be Ksh 2,040.
DevPesa is the simplest and most secure way to help Chama individuals to borrow, save, and improve their financial health all from the convenience of your phone in promoting chamas in Kenya.
Sample Devsmart Chama Personal Loan Rates And Fees:
Loan Amounts: KSH 1000 to KSH 30,000
APR/Interest rate: 12%-199% (Monthly interest: 1% to 12%)
Processing fee: 2%
Onboarding fee: None
Terms:
Depending on the loan amount for which you are eligible, you have the option to choose repayment terms of up to 1 year. Every loan amount offered by Chama has the option to repay in a minimum of 65 days.
The amount would be directly deposited in your MPESA.
You can learn more about loan apps in Kenya on this website
