In today’s world, access to credit is crucial for both personal and business growth. However, getting a loan from traditional financial institutions can be a daunting and time-consuming process. Kilele Loan App, a digital lending platform in Kenya, is revolutionizing the way Kenyans access credit. In this article, we will explore the features and benefits of Kilele Loan App and how it is helping thousands of Kenyans access credit easily and conveniently.
Kilele Loan App Features
Kilele Loan App offers loans ranging from Ksh 1000 to Ksh 100,000, with repayment periods of 61 days to 365 days at an interest rate of 30% to 35%. The maximum Annual Percentage Rate (APR) is 180%, while the minimum APR is 140%. For instance, a customer taking a loan of Ksh 1000.00 for 61 days will pay back Ksh. 1300.00, comprising the Principal of Ksh 1000.00 and a facility fee of Kes 300.00.
One of the unique features of Kilele Loan App is that a customer is allowed to make repayments in installments. This is particularly helpful for customers who may not be able to repay the loan in a lump sum. Additionally, customers can grow their Kilele loan limit up to Ksh 100,000.00 based on their repayment history. This means that the more a customer borrows and repays on time, the higher their loan limit becomes.
Applying for a Loan on Kilele Loan App
The process of applying for a loan on Kilele Loan App is simple and straightforward. Customers need to download the Kilele Loan App from the Google Play Store, register and create an account. Once the account is set up, the customer can apply for a loan by selecting the loan amount and repayment period. The loan application is then reviewed, and if approved, the funds are disbursed to the customer’s mobile money account within minutes.
Repayment on Kilele Loan App
Repaying a loan on Kilele Loan App is equally simple and convenient. Customers can pay back the loan at any time, and once the loan is fully repaid, the customer’s loan limit is increased. Kilele Loan App does not charge penalties on delayed payments, and customers are allowed to roll over their loans for the same original term. Customers are only required to pay additional interest for the extended period. However, one can only roll over the loan for up to a maximum of three times.
Benefits of Kilele Loan App
Kilele Loan App offers several benefits to its customers. Firstly, it is a convenient and fast way to access credit. The loan application process is straightforward, and funds are disbursed within minutes of loan approval. Secondly, Kilele Loan App has a flexible repayment system that allows customers to repay their loans in installments, thus reducing the burden of repaying the loan in a lump sum. Thirdly, Kilele Loan App does not charge penalties on delayed payments, which makes it more affordable for customers who may experience financial difficulties.
Conclusion
Kilele Loan App is an excellent digital lending platform that is helping Kenyans access credit easily and conveniently. Its features, such as the ability to make repayments in installments and grow loan limits based on repayment history, make it a popular choice among Kenyans. Additionally, its flexible repayment system and no-penalty policy on delayed payments make it an affordable option for customers who may face financial difficulties. If you are in need of credit in Kenya, download the Kilele Loan.
Learn more about other loans apps in Kenya here.
