In today’s fast-paced world, having access to quick loans can be a game-changer. Whether it’s to cover unexpected expenses or invest in a new venture, having access to funds can make a significant difference.
However, traditional lending methods can be time-consuming and often require collateral or a good credit score.
That’s where Mokash Loan App comes in, providing a hassle-free way for anyone with an Android smartphone to apply for a loan and receive an instant decision. In this article, we’ll take a closer look at Mokash Loan App, its features, and how it works.
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Welcome to Mokash Loans
Mokash Loans is a digital lending platform that provides unsecured and secured loans to individuals and businesses. With loan amounts ranging from Ksh 300 to Ksh 1M, Mokash Loans caters to a wide range of borrowers.
The repayment periods range from 4 months to 2 years, providing flexibility to borrowers. The Annual Percentage Rate (APR) ranges from 15% to 120%, depending on the loan amount and repayment period.
Mokash Loans also charges an annual ledger fee or accounts maintenance fee ranging from Ksh 100 to Ksh 300.
How to Apply for a Loan on Mokash App
Applying for a loan on Mokash App is straightforward and can be done in a few minutes. Here are the steps to follow:
- Download the Mokash App from the Google Play Store and install it on your Android smartphone.
- Register on the app using your phone number and create a PIN.
- Fill in your personal details, including your name, ID number, and address.
- Select the loan amount and repayment period that suits your needs.
- Submit your application and wait for the instant decision.
If your loan is approved, the funds will be disbursed to your M-Pesa account within minutes. Mokash Loans charges a flat fee for the loan amount, with no additional fees, rollover charges, or origination fees.
For example, if you borrow Ksh 10,000, the flat fee will be Ksh 2,000. Even if you repay the loan in one year, no additional fees will be charged.
Secured Loans
Mokash Loans also provides secured loans for asset finance and business loans. If you need a higher loan amount, you can visit their offices to avail documentation after completing the online application.
With secured loans, you’ll need to provide collateral, such as a car or property, to secure the loan. The loan amount and repayment period will depend on the value of the collateral.
Benefits of Using Mokash Loan App
Mokash Loan App provides several benefits, making it a convenient way to access quick loans. Here are some of the benefits of using Mokash Loan App:
Convenience
With Mokash Loan App, you can apply for a loan from anywhere, anytime. As long as you have an Android smartphone, you can access the app and apply for a loan.
The application process is also quick and straightforward, taking only a few minutes to complete.
Instant Decision
Mokash Loan App provides an instant decision on your loan application. Once you submit your application, you’ll receive a decision within minutes.
This makes it easy to plan your finances and make informed decisions.
Flexible Repayment Periods
Mokash Loans provides flexible repayment periods, ranging from 4 months to 2 years.
This provides borrowers with the flexibility to choose a repayment period that suits their needs and financial situation.
No Hidden Fees
Mokash Loans charges a flat fee for the loan amount, with no additional fees, rollover charges, or origination fees.
This means that borrowers know exactly how much they’ll need to repay upfront, making it easier to plan their finances.
Secured Loans
For borrowers who need higher loan amounts, Mokash Loans provides secured loans. With secured loans, borrowers can access higher loan amounts by providing collateral such as a car or property.
This is a great option for individuals or businesses that need to make significant investments but don’t have the required funds upfront.
Conclusion
Mokash Loan App provides a convenient way to access quick loans for individuals and businesses. With flexible repayment periods, instant decision, and no hidden fees, borrowers can easily plan their finances and make informed decisions.
The app is easy to use, and the application process is straightforward, taking only a few minutes to complete. If you’re in need of a quick loan, consider using Mokash Loan App and enjoy the benefits of hassle-free lending.