Are you in need of cash urgently but find it hard to go through the traditional loan application process? Mpasho Loan App might be the solution you’re looking for.
With Mpasho Loan App, you can easily access loans anywhere you are with your smartphone. In this article, we’ll take a closer look at Mpasho Loan App, its rates and fees, and how it works.
How it Works
Mpasho Loan App is a mobile lending platform that makes it easy for anyone to apply for a loan from their mobile phone. To get started, all you need to do is sign up and create an account on the app.
Once you have created an account, you can then apply for a loan directly from your phone. The loan application process is simple, and you can receive your money straight to your mobile account.
Rates and Fees
Mpasho Loan App offers loans in four countries: South Africa, Tanzania, Egypt, and Ghana. The rates and fees for each country are as follows:
South Africa
- Loan Amounts applicable: R 2,000 to R 50,000
- APR: 21.5% to 34.5%
- Example of a loan: For a loan of principal R 25,000, a flat fee of R 2,150.
- No late fees, rollover charges, or origination fees.
- Total amount to pay 25,000 + 2,150 = R 27,150
Tanzania
- Loan Amounts applicable: Tsh 4,500 to Tsh 300,000
- APR: 18.5% to 33.7%
- Example Fees: For a loan of principal Tsh 15,000, a flat fee of Tsh 1,350.
- No late fees, rollover charges, or origination fees.
- Total amount to pay 15,000 + 1,350 = 16,350
Egypt
- Loan Amounts applicable: E£ 500 to E£ 75,000
- APR: 21.5% to 34.5%
- Example Fees: For a loan of principal E£ 12,000, a flat fee of E£ 1,250.
- No late fees, rollover charges, or origination fees.
- Total amount to pay 12,000 + 1,250 = E£ 13,250
Ghana
- Loan Amounts applicable: GH₵ 500 to GH₵ 150,000
- APR: 24.5% to 33%
- Example Fees: For a loan of principal GH₵ 17,500, a flat fee of GH₵ 1,150.
- No late fees, rollover charges, or origination fees.
- Total amount to pay 17,500 + 1,150 = 18,650
The repayment terms for the loans vary depending on the loan amount. You can choose repayment terms for up to 365 days, and every loan amount has the option to repay in a minimum of 90 days.
Benefits
There are several benefits to using Mpasho Loan App:
No Paperwork, Collateral, or Office Visits Needed
One of the biggest advantages of Mpasho Loan App is that there is no need for any paperwork, collateral, or office visits. All you need is a smartphone and an internet connection to apply for a loan.
Use Your Money the Way You Want
Another benefit of Mpasho Loan App is that you can use your money the way you want. Whether it’s for home or business, you can use the loan for whatever purpose you need.
There are no restrictions on how you use the money you borrow from Mpasho Loan App.
No Late Charges or Rollover Fees
Mpasho Loan App doesn’t charge late fees or rollover fees. This means that if you are unable to make a payment on time, you won’t be charged any additional fees.
Access to Bigger Loans, Lower Fees, and Flexible Payment Terms
As you repay your loans on time, you’ll gain access to bigger loans, lower fees, and more flexible payment terms. This means that if you are a reliable borrower, you’ll be rewarded with better terms and conditions on your loans.
Safe and Secure
Mpasho Loan App uses the data on your phone, including your SMS history, to verify your identity and create a credit score. The app encrypts the data you choose to share with them to protect your privacy. This means that your personal information is safe and secure when you apply for a loan using Mpasho Loan App.
Conclusion
If you’re in need of a loan and find it hard to go through the traditional loan application process, Mpasho Loan App might be the solution you’re looking for.
With Mpasho Loan App, you can easily apply for a loan directly from your smartphone, without any paperwork or collateral. The app offers loans in four countries and has competitive rates and fees.
Mpasho Loan App rewards reliable borrowers with better terms and conditions on their loans. Overall, Mpasho Loan App is a safe, convenient, and reliable way to access loans whenever you need them.