Are you in need of a personal loan but don’t have the time or resources to go through the traditional loan application process? FairKash+ might just be the solution you’re looking for.
With its user-friendly loan app, FairKash+ offers a convenient and flexible way for Kenyan residents aged 20-60 to borrow up to KES 60,000.
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How to Repay Personal Loan with FairKash+
Once you have taken out a personal loan from FairKash+, the next step is to repay it. Here’s how to do it:
- Install the FairKash+ app on your smartphone.
- Register with your M-Pesa number and verify your identity in three easy steps through the app.
- Repay your loan with M-PESA through FairKash+’s Paybill 4074255.
- You can choose to pay your loan in full or make partial payments before the due date.
With the FairKash+ app, you can access your loan details and repayment history anytime, anywhere. Plus, there are no hidden charges, making it easier for you to plan and manage your finances.
Why Choose FairKash+ for Your Personal Loan Needs
FairKash+ offers several advantages over traditional lenders, including:
Flexible Payment Options
You can choose your payment tenure according to your needs, which means you can repay your loan in a way that suits your financial situation. This makes it easier to manage your finances and avoid any unnecessary stress.
Secure and Reliable
FairKash+ is committed to providing a secure and reliable loan application and repayment process. All your data is encrypted to protect your privacy, and you can be sure that your information will never be shared with third parties.
Credit Decision
FairKash+ provides a credit decision, which means that you will know whether or not you have been approved for a loan within minutes of submitting your application. This allows you to plan ahead and make informed financial decisions.
Available 24/7
FairKash+ is available 24 hours a day, seven days a week, which means that you can apply for a loan and manage your repayments whenever it’s convenient for you.
Who Can Apply for a Personal Loan with FairKash+
FairKash+ offers personal loans to Kenyan residents aged 20-60. As long as you meet the age requirements and are a resident of Kenya, you can apply for a personal loan from FairKash+.
Loan Product Details
Here are the key details of FairKash+’s loan products:
- Loan Amount: from KES 3000 to KES 60,000
- Minimum period for repayment: 91 days
- Maximum period for repayment: 365 days
- Service Fee: A one-time charge maybe up to 8%.
- Interest Fee: 3% to 18%.
- Minimum Annual Percentage Rate (APR): 20.1%
- Maximum Annual Percentage Rate (APR): 80.2%
- Build Your Credit Limit: You can grow with Fair Kash+ and build your limit up to KES 60,000 by making your loan repayments on time.
Representative Example
To give you a better idea of the costs involved in taking out a personal loan with FairKash+, here’s a representative example:
If you apply for a loan with a period of 120 days, a loan principal of KES 4000, an interest fee rate of 15%, and a service fee rate of 4%, the annual percentage rate (APR) will be 49.6%.
- Loan Principal: KES 4000 (120 days)
- Total Interest Fee: KES 600 (KES 4000 * 15%)
- Total Service Fee: KES 160 (KES 4000 * 4%)
- Total Fee Cost: KES 760 (KES 600 + KES 160)
- Repayment Amount: KES 4760 (KES 4000 + KES 600 + KES 160)
This example demonstrates the total cost of borrowing KES 4,000 from FairKash+ for a period of 120 days. As you can see, the interest and service fees add up to KES 760, making the total repayment amount KES 4,760.
Privacy and Permissions
FairKash+ uses the data on your phone, including your SMS history, to verify your identity and create a credit score.
However, you can choose which data to share with FairKash+ and all data is encrypted to protect your privacy. FairKash+ takes your privacy very seriously and promises never to share your information with third parties.
Contact Us
If you have any questions, concerns, or feedback about FairKash+, the team is always available to help.
You can email them at support@fairkplus.live, message them on WhatsApp at +254 796383534, or
visit their address at Riverside Lane West, Riverside Building, Nairobi area, Kenya.
Conclusion
FairKash+ is a reliable and convenient way to get personal loans in Kenya. With flexible payment options, low interest rates, and a user-friendly app, FairKash+ is an excellent option for anyone who needs quick and easy access to credit.
FairKash+ is committed to protecting your privacy and ensuring that you have a positive borrowing experience. If you’re in need of a personal loan, be sure to check out FairKash+.