iPesa - Credit Loan to M-PESA

iPesa - Credit Loan to M-PESA

risine credit Limited – Freeware – Android
Latest Version
 
Safe to install

iPesa: Seamless Credit Solutions for M-PESA Users

Elena Angelini

iPesa by Risine Credit Limited offers quick and convenient credit loans directly accessible through your M-PESA account, making borrowing simpler than ever.
2024 Editor's Rating

The iPesa Loan App provides the following terms:

  1. Loan Amount: 500 Ksh to 50,000 Ksh
  2. Loan Term: Ranges from 91 to 180 days
  3. APR: Minimum of 36% to Maximum of 72%
  4. Service Fee: 0%
  5. Borrower's Requirements: Must be at least 18 years old

Example: If you borrow 2500 Ksh with a loan term of 180 days and an APR of 72%, the total service fee would amount to 900 Ksh. Therefore, the total repayment due will be 3400 Ksh.

Repayment Example:
If you opt for a one-time repayment, the total amount due after 180 days will be 3400 Ksh.
For monthly repayments, your installment amount will be approximately 566.67 Ksh.

Fee Details:
Loan principal: 2500 Ksh (for 180 days)
Total loan fee: 900 Ksh (=2500 Ksh * 72%(APR)/2)
Total amount payable: 3400 Ksh (=2500 Ksh + 2500 Ksh * 72%(APR)/2)
APR: 72%

To apply for a loan, the following steps are required:

  1. Register with your M-Pesa number
  2. Apply for the desired loan amount
  3. Upon approval, receive the sanctioned amount
  4. Repay on time to increase credit limit to a maximum of 50,000 Ksh

Privacy and Permissions:
iPesa simplifies the loan application process by utilizing your phone data, including SMS history, to establish your identity and creditworthiness. Data shared with us is encrypted to ensure privacy. Rest assured that we prioritize data protection and do not disclose information to third parties.

Contact Us:
Facebook page: iPesa Kenya
Email: [email protected]
Office address: ADLIFE PLAZA, CHANIA AVENUE, NAIROBI
Privacy policy: iPesa Privacy Policy

Overview

iPesa - Credit Loan to M-PESA is a Freeware software in the category Business developed by risine credit Limited.

The latest version of iPesa - Credit Loan to M-PESA is currently unknown. It was initially added to our database on 06/14/2024.

iPesa - Credit Loan to M-PESA runs on the following operating systems: Android.

iPesa - Credit Loan to M-PESA has not been rated by our users yet.

Pros

  • Easy access to short-term loans via M-PESA, widely used in Kenya.
  • Quick loan approval process, allowing users to receive funds rapidly.
  • User-friendly interface that integrates with M-PESA, making it convenient for users already familiar with the platform.
  • Flexible repayment terms that can accommodate different borrower needs and financial situations.
  • Available to a wide range of customers, even those with limited credit history, expanding financial access.

Cons

  • High interest rates compared to traditional banking loans, which could lead to debt accumulation if not managed carefully.
  • Eligibility criteria may exclude some applicants, making it difficult for certain individuals to secure a loan.
  • Loan amounts may be limited, not meeting all users' financial needs for larger expenses or emergencies.
  • Dependence on mobile network availability; issues with M-PESA connectivity can affect loan accessibility and transactions.
  • Potential for over-reliance on loans may encourage poor financial habits among users.

Elena Angelini

Elena Angelini

I'm Elena, your go-to software reviewer at UpdateStar and tech enthusiast. Whether you're a user seeking the latest software titles or software news I've got you covered. When I'm not diving into the latest software, you can find me exploring nature trails, camping under the stars, or competing in online multiplayer games. My reviews are designed to be fun, engaging, and packed with all the details you need to make informed decisions.

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