Mkopo Rahisi is a lending application that provides a credit limit of up to 50,000 Kenyan shillings and is aimed to make online cash funds available to all individuals.
Mkopo Rahisi’s goal is to streamline the process of borrowing money and provide individuals with access to quick and flexible financial aid.
Mkopo Rahisi’s mission is to provide its users with cash or online cash loans that are safe, convenient, and secure.
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Why Install Mkopo Rahisi Loan App?
Mkopo Rahisi Loan App offers several compelling reasons to install it on your mobile device. Here are some key advantages:
Lenders with Fast Loan Processing
One of the primary benefits of Mkopo Rahisi is its ability to connect users with lenders who offer swift loan processing. Upon loan approval, funds are instantly deposited into the borrower’s mobile account, eliminating the hassle of lengthy waiting periods.
Easy Application Process
Gone are the days of cumbersome paperwork and time-consuming documentation. Mkopo Rahisi streamlines the loan application process by providing an online platform. Users can conveniently apply for loans through the app without the need for physical paperwork, saving valuable time and effort.
Flexible Repayment Options
Mkopo Rahisi understands the importance of flexibility when it comes to loan repayments. The app offers various repayment options, including the ability to extend the repayment period if necessary.
This feature allows borrowers to adjust their repayment schedule according to their financial circumstances, ensuring a stress-free borrowing experience.
Loan Information
When considering any loan app, it’s crucial to review the loan details provided by the lender. Mkopo Rahisi Loan App offers the following loan information to help borrowers make informed decisions:
Loan Amount
Mkopo Rahisi offers loans with a minimum amount of 500 Ksh and a maximum amount of 50,000 Ksh. This range allows users to choose the loan amount that best suits their financial needs, whether it’s a small emergency loan or a larger sum for more significant expenses.
Loan Term
The loan term provided by Mkopo Rahisi ranges from a minimum of 91 days to a maximum of 365 days. This flexibility ensures that borrowers can select a repayment period that aligns with their financial capabilities and preferences.
Annual Percentage Rate (APR)
The maximum Annual Percentage Rate (APR) offered by Mkopo Rahisi is 26%. It’s essential to consider the APR as it represents the annualized cost of borrowing, including both interest and any additional fees.
Service Fee
Mkopo Rahisi charges a service fee ranging from Sh. 99 to 200. This fee is deducted from the loan amount provided to the borrower. It’s important to factor in the service fee when calculating the total repayment amount to avoid any surprises.
Eligibility Criteria
To qualify for a loan through Mkopo Rahisi, borrowers must be at least 18 years old or above. Adhering to the age requirement ensures that borrowers are legally capable of entering into a financial agreement.
Sample Loan Calculation
To illustrate the loan repayment process, let’s consider a representative example. Suppose a borrower takes a loan amount of Ksh. 2,000. Given the maximum APR of 26%, the total interest charged would be 2000 Ksh * 26% = 520 Ksh.
From the loan amount provided, Mkopo Rahisi deducts the processing fee. Assuming a processing fee of Ksh. 91, the total repayment amount would be Ksh. (2,000 + 520 – 91) = Ksh. 2,429.00.
Conclusion
Mkopo Rahisi Loan App offers a convenient and efficient way for individuals to access online cash loans. By leveraging this app, users can benefit from fast loan processing, an easy application process, and flexible repayment options.
With a range of loan amounts, repayment terms, and transparent fees, Mkopo Rahisi strives to provide a seamless borrowing experience for all citizens.
Should you need any further information or assistance, you can reach out to Mkopo Rahisi at their physical address: 6th Floor, 106 Monrovia Street, Nairobi, Kenya.
Install Mkopo Rahisi Loan App today and experience the convenience and security of online cash loans at your fingertips.