In today’s fast-paced world, time is of the essence, and waiting in long queues to access financial services can be a frustrating experience.
Fortunately, Chapaa Loan App was founded to offer better financial services to non-bank individuals with the world’s advanced technologies.
In this article, we’ll explore the features and benefits of Chapaa Loan App and how you can use it to access financial services.
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Loan Products
Chapaa Loan App provides loans ranging from Ksh 2,500 to Ksh 50,000, with a loan tenure of between 90 days to 365 days.
The Annual Percentage Rate (APR) ranges from a minimum of 24% to a maximum of 50%. To better understand how the interest rate is calculated, let’s consider an example.
Suppose you borrow Ksh 5,000 with an APR of 31% and a loan tenure of 90 days. The interest charged will be:
Interest = 5000 Ksh * 31% / 365 * 90 = 382Ksh
Thus, you’ll receive Ksh 5,000 and will need to repay Ksh 5,382 (5000 + 382) after 90 days.
Loan Process
Applying for a loan with Chapaa Loan App is easy and straightforward. The process involves:
- Installing the app from the Play Store
- Creating a Chapaa Loan account
- Choosing the amount you would like to apply for
- Filling in your basic information and submitting
- Receiving the cash directly into your M-Pesa account.
Permission and Privacy
When installing Chapaa Loan App, you’ll be required to authorize the app to access your mobile information to verify your identity and evaluate your credit eligibility.
Your data is protected by the highest security standards in the world, and Chapaa Loan App is committed to protecting your privacy. Under no circumstances will your information be disclosed without your permission.
Loan Requirements
To access financial services using Chapaa Loan App, you must be a Kenyan resident aged 18 years and above and have an M-Pesa account.
Contact Us
If you need any assistance or have any queries about Chapaa Loan App, you can reach out to their customer support team via email at help.chapaaloan@gmail.com or through their
WhatsApp hotline at 0706095905.
Their offices are located in Westlands, Nairobi, Kenya.
Benefits of Chapaa Loan App
1. Convenience and Accessibility
One of the main benefits of Chapaa Loan App is the convenience and accessibility it offers. With just a few clicks, you can apply for a loan and receive the cash directly into your M-Pesa account, without the need for paperwork or visiting a bank.
2. Fast and Efficient Service
Chapaa Loan App provides a fast and efficient service that allows you to access financial services quickly and easily. Once you submit your loan application, you’ll receive the cash within minutes, enabling you to take care of any financial emergencies.
3. Flexible Loan Products
Chapaa Loan App offers a range of loan products to suit different financial needs. Whether you need a small loan to cover your daily expenses or a larger loan to finance a project, Chapaa Loan App has got you covered.
4. Transparent and Affordable Rates
Chapaa Loan App provides transparent and affordable rates, making it easy for you to plan your finances. The app provides a clear breakdown of the interest charged and the repayment schedule, enabling you to make informed decisions about borrowing.
Conclusion
Chapaa Loan App is a simple and digital way to access financial services in Kenya.
It’s essential to note that taking a loan comes with a responsibility to repay it within the agreed time frame. Failure to do so can result in penalties and damage your credit score, making it difficult to access financial services in the future.