How To Get Started
* Download the App
* Give Stawika permissions as requested
*Accept privacy policy
* Create Account
* Login with your credentials
* Borrow your qualified amount
* Receive money directly into your Mpesa Wallet
Borrow and Repay on time to improve your prequalified limits and access loans with longer repayment periods and lower interest fees
Loan Rates And Calculation
Loan Amounts: from Ksh 500 – Ksh 70,000
– Monthly Interest Fees: 7% to 21 %
– Processing Fees: Ksh 0
– Roll over fees: 10%
– Repayment Period: From 61-90 Days
– Maximum Annual Percentage Rate (APR): 31%
Example Fee Calculation: For a Ksh. 1000 has Ksh. 210 Interest Fee, Maximum Ksh. 100 rollover Fee, No origination or processing Fees.
Example fee calculation; for a loan kshs 1000, interest amount will be kshs 210. Roll over fees Kshs 100 maximum.
For a Ksh.1000 Loan, the client pays 1000 (Loan given)+210(Loan Interest) =Ksh 1,200
Loan Repayment Terms
Maximum 3 roll overs with no additional interest and rollover fees after this period
Safety Measures:
For optimum performance, Stawika requires permissions such as:
-Contacts
-Phone
You will be required to grant these permissions on initial launch of the Stawika App.
To determine your credit worthiness, Stawika uses data that you submit to us such as your legal name, National ID, Mpesa Number, and your Mpesa Statement.
All communication between Stawika App and Stawika Servers is encrypted
You can learn more about loan apps in Kenya on this website
