Kuwazo is a loan app that provides a simple and convenient way to access quick cash in Kenya.
With its user-friendly interface and straightforward application process, Kuwazo has become a popular choice among Kenyans who need financial assistance.
In this article, we will take a closer look at Kuwazo and its features.
Contents
Loan Products
Kuwazo offers loan products with a repayment period between 60 and 145 days. The more you repay on time as per the installment schedules, the more you get a higher repayment period.
The loan amounts range from Ksh 500 to Ksh 30,000, making it an accessible option for individuals who need small to medium-sized loans.
Rates and Fees
Kuwazo charges a monthly interest fee of 7% to 20% and has no processing fees. The APR ranges from 60% to 240%.
For example, if you borrow Ksh 1000, you will pay an interest fee of Ksh 200, with no origination or processing fees. If you roll over your loan, you will be charged a maximum fee of Ksh 400.
Therefore, the total amount you will need to repay for a Ksh 1000 loan is Ksh 1,200.
Loan Repayment Terms
Every loan product has a maximum of 3 rollover times, after which the repayable amount does not change for the lifetime of the loan.
Depending on the loan product, the final repayment dates are between 90 days and 360 days. It is important to repay your loan on time to avoid additional charges and to improve your prequalified limits.
How to Get Started
Getting started with Kuwazo is simple and straightforward. First, you need to download the app and grant the necessary permissions, such as storage, phone, camera, and display over other apps.
Then, you need to create an account and login with your credentials. Once you have been approved, you can borrow your qualified amount and receive the money directly into your Mpesa wallet.
Remember to repay your loan on time to improve your creditworthiness and access loans with longer repayment periods and lower interest fees.
Safety Measures
Kuwazo takes the safety and security of its users seriously. To determine your creditworthiness, Kuwazo uses data that you submit, such as your legal name, National ID, Mpesa Number, and your Mpesa Statement.
All communication between the Kuwazo app and Kuwazo servers is encrypted, ensuring that your personal and financial information is safe.
How to Reach Us
If you have any questions or concerns, you can reach out to Kuwazo via email at talktous@kuwazo.co.ke or
Via SMS/Whatsapp at +254-745660345.
You can also follow Kuwazo on Facebook at @kuwazokenya.
Conclusion
Kuwazo is a reliable loan app that provides a simple and convenient way to access quick cash in Kenya.
With its competitive rates and fees, flexible repayment terms, and commitment to safety and security, Kuwazo has become a popular choice for Kenyans who need financial assistance.
If you are looking for a quick and easy way to borrow money, Kuwazo is definitely worth considering.