The app makes it easier to access loans on the go.
Loan Features:
– Exquisite and simple design
– Knowledge of loan application status in seconds
– Loan directly to your mobile money account at any time of day
– Availability of credit history dashboard
– Credit benefits analysis
How The Loan App Works:
– Log in using your Facebook or Google account
– You will require to scan your National ID or travel passport and input your phone number
– Your loan application is then processed upon accepting the Terms and Conditions
Loan Interest Rates And Calculations
• Service fee: 1% – 30%
• The minimum repayment period is 60 days
• The maximum repayment period is 61 days
• Maximum Annual Percentage Rate: 196.56%
• Onboarding fee: None
• Late fee: a one-time fee of 5% of the principal amount borrowed
Example:
A loan of Kes. 500 with a repayment period of 60 days;
Sample Interest calculation = Kes.500 * 30% = Kes.150
Sample Total monthly payment (after 60 days)= Kes.500 + Kes.150 = Kes.650
Contacts
Email: [email protected]
Call: 0707 000 222.
Find us on Facebook and follow us on Twitter: https://twitter.com/scoppe_ke
You can learn more about loan apps in Kenya on this website
