In today’s world, getting a loan has become an easy task, thanks to technological advancements.
With the click of a button, you can apply for a loan and get it approved within minutes. One of the popular loan apps in Kenya is the MyKes Loan App.
Contents
What is MyKes?
MyKes is a loan app that provides high-quality, low-interest loan products specifically for young people in Kenya.
Unlike other loan apps that offer high-interest rates, MyKes insists on not making high-interest loan products as the bottom line.
It offers an easy and affordable way for people to get the funds they need to meet their financial obligations.
Features of MyKes
Apply online at any time
With MyKes, you can apply for a loan online at any time of the day, 24 hours a day. You don’t have to go through any face-to-face interactions, and the application process is a one-click operation.
You can apply if you have good credit, and you won’t experience any harassment.
Low-interest rates
The interest rates on MyKes loans are very low compared to other loan apps. For example, if you borrow KSh 11,000, you get a 0.05% interest rate.
Convenient repayment
Repaying your loan is easy and convenient with MyKes. You can operate it online or offline, and you can repay anytime, anywhere.
Who Can Apply for MyKes Loans?
To apply for a MyKes loan, you need to be over 20 years of age, have a real phone number, and a real ID card.
Product Introduction
Loan amount
The loan amount you can get from MyKes ranges from KSh 5,000.00 to KSh 20,000.00.
Loan term
The loan term ranges from 91 days (shortest, including renewal time) to 365 days (longest, including renewal time).
Interest rate
The maximum interest rate on MyKes loans is 18% per year, with a daily interest rate of 0.05%.
For example, if you choose a loan limit of KSh 2,000.00 with a period of 120 days, the total interest must be paid: KSh 2,000.00 * 0.05% * 120= KSh 120.00.
The monthly interest shall be paid: KSh 2,000.00 * 0.05% * 30 = KSh 30.00. The monthly repayment bill including principle and interest shall be paid: KSh 2,000.00/4 + KSh 30.00 = KSh 530.00.
The total repayment bill including principle and interest shall be paid: KSh 2,000.00 + KSh 120.00 = KSh 2,120.00.
Contact Us
If you need any help, you can contact our online service. Our working hours are from 8 am to 5 pm, Monday to Saturday. You can reach us at 0207903622.
Conclusion
MyKes is a reliable and safe loan app that offers low-interest rates to young people in Kenya. With MyKes, you can apply for a loan online at any time, and you won’t have to worry about high-interest rates or harassing phone calls.
It’s a convenient and affordable way to get the funds you need to meet your financial obligations. If you need a loan, download the MyKes Loan App today and apply for a loan with ease.