In Kenya, accessing instant credit loans can be challenging, especially for those who need it the most. However, with the emergence of loan apps like Pesa Loan, getting quick financial assistance is now possible.
Pesa Loan App is a reliable and fast loan app that provides instant loan credits to your account or M-PESA account, or other given account details.
In this article, we will explore why Pesa Loan App is the best instant credit loan app in Kenya.
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Simple and Swift Registration and Application Process
One of the reasons why Pesa Loan App stands out is its simple and swift registration and application process. The app is user-friendly and easy to navigate, even for those who are not tech-savvy.
To register, all you need is to provide your personal details, including your name, phone number, and ID number. Once you have registered, you can apply for a loan by entering the loan amount and the repayment period.
Money in Your Account in Just 5 Minutes
Another reason why Pesa Loan App is the best instant credit loan app in Kenya is that you can get money in your account in just 5 minutes.
This is a significant advantage for those who need urgent financial assistance. Once you have applied for the loan, the app quickly processes your request, and if approved, the money is immediately deposited into your account or M-PESA account.
Cash Loans on Branch Offices
Apart from offering loan credits directly to your account or M-PESA account, Pesa Loan App also offers cash loans on visiting their branch offices.
This is an added advantage, especially for those who prefer face-to-face interactions. The branch offices are located in various parts of the country, making it easier for customers to access their services.
Loan Terms
Pesa Loan App offers a range of loan terms to suit the different needs of its customers. The shortest tenor is 61 days, while the longest is 365 days.
The loan amount ranges from Kes.1,500 to Kes. 50,000. The interest rate is 12.5% per annum, which is relatively low compared to other loan apps in Kenya.
The processing fee is 5% of the principal amount, with a minimum of Kes. 60 and a maximum of Kes. 600.
For instance, if you borrow a principal amount of Kes. 3,000 for 61 days, the processing fee will be Kes. 150, and the interest will be Kes. 61.64.
The total amount due will be Kes. 3,211.64, and the monthly payment will be Kes. 1,605.82.
Repay on Time and Build a Positive Credit History
Pesa Loan App encourages its customers to repay their loans on time to build a positive credit history.
Timely repayment increases your credit limit, which allows you to apply for higher loan credits in the future.
This is an excellent opportunity for those who need more substantial financial assistance in the future.
Conclusion
Pesa Loan App is the best instant credit loan app in Kenya, and for a good reason. Its simple and swift registration and application process, fast loan disbursement, and a range of loan terms make it the go-to loan app for many Kenyans.
With Pesa Loan App, getting quick financial assistance has never been easier. However, it is essential to borrow responsibly and repay the loans on time to build a positive credit history.