The Quick Fadhili Loan App is a ground-breaking mobile application that enables users to have access to loans ranging from Ksh 500 to Ksh 1,000,000 in a quick and hassle-free manner.
The Quick Fadhili Loan App is here to assist you with meeting any financial requirement you may have, be it an unexpected emergency, the funding you require for your business, or even your own personal costs.
In this in-depth post, we will look into the essential features, benefits, and the procedure of loan payback of this cutting-edge lending application.
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Quick Fadhili Loan App Features and Options
Quick Fadhili Loan App offers a flexible loan structure that caters to a wide range of financial needs. Here are the key features and options that make it a popular choice among borrowers:
Loan Amount
With Quick Fadhili Loan App, you can borrow any amount between Ksh 500 and Ksh 1,000,000. Whether you require a small loan to cover immediate expenses or a larger sum for significant financial obligations, this loan app has got you covered.
Repayment Period
The loan repayment period for Quick Fadhili Loan App ranges from a minimum of 91 days to a maximum of 36 months. This flexible repayment structure allows borrowers to choose a suitable repayment term based on their financial capabilities and preferences.
Affordable Interest Rates
Quick Fadhili Loan App offers an Annual Percentage Rate (APR) of 12%. The interest rate is also fixed at 12%. Additionally, an account management fee of Ksh 400 is payable annually. These competitive rates ensure that borrowers can repay their loans without burdening themselves with excessive interest charges.
Loan Cost Calculation
To illustrate the loan cost, let’s consider an example. Suppose you borrow Ksh 20,000 for a one-year loan term with a total fee of 12%.
In this case, the APR will be Ksh 2,400, which is the loan fee. Hence, the total cost of the loan will be Ksh 2,400.
For monthly repayment, you can expect to pay approximately Ksh 1,867.
The interest calculation for this example is Ksh 20,000 * 12% / 100% = Ksh 1,200.
Quick Fadhili Loan App Loan Repayment
Repaying your loan through Quick Fadhili Loan App is a seamless and hassle-free process. Follow these steps to make your loan payment using the app’s paybill number:
- Go to your Safaricom menu and select M-Pesa.
- Choose the “Lipa na M-Pesa” option.
- Select the “Pay Bill” option.
- Enter Quick Fadhili Loan App’s paybill number: 995321.
- Use your registered Fadhili phone number as the account number.
- Enter the payment amount.
- Finally, enter your M-Pesa PIN to complete the payment.
By following these simple steps, you can easily make loan repayments and stay on track with your financial commitments.
Technical Assistance
Quick Fadhili Loan App understands that technical issues may arise while using the application. If you encounter problems such as crashes, hangs, or registration difficulties, you can resolve them on your own. Before contacting customer support, follow these steps to fix the issues:
Step 1: Go to your phone settings.
Step 2: Navigate to the “Apps” section.
Step 3: Find and select the Quick Fadhili Loan App.
Step 4: Clear the app’s data, cache, and storage.
Step 5: Once you have cleared the data, enter your details afresh and proceed with the loan application.
Step 6: If the problem persists, you can uninstall and reinstall the app.
These troubleshooting steps will help you overcome any technical obstacles and ensure a smooth loan application process.
Loan Repayment Timeframe and Consequences
It is important to repay your loan within the specified time frame to maintain a good credit score and avoid any negative consequences.
The loan should be repaid within 21 days from the time of borrowing or according to the agreed-upon terms specified during the loan application process.
If you fail to repay the loan within the stipulated time frame, there will be repercussions. While Quick Fadhili Loan App provides a grace period of approximately 90 days, it is crucial to repay the loan within this period to avoid any adverse effects on your credit score.
Failure to repay the loan within the grace period will result in your details being handed over to collection agents and, ultimately, to the Credit Reference Bureau (CRB).
This can negatively impact your creditworthiness and may hinder your ability to access loans and financial services in the future.
Loan Application Denial
If your loan request was denied, do not be disheartened. The decision to grant loans is determined by the system based on your details.
There may be various reasons why your application was not approved, such as incomplete information, discrepancies in the provided details, or insufficient credit history.
However, this should not discourage you from reapplying in the future, as your circumstances may change or improve.
Contact Information
For any inquiries, concerns, or further assistance, you can reach out to Quick Fadhili Loan App through the following contact details:
- Mobile: +254 720686009
- Email: admin@fadhilimobile.co.ke
Feel free to contact the Quick Fadhili Loan App support team for prompt and reliable support regarding your loan application, repayment, or any other related queries.
Conclusion
Quick Fadhili Loan App offers a convenient and accessible solution for individuals in need of financial assistance.
With flexible loan options, affordable interest rates, and a user-friendly interface, this mobile application simplifies the loan application and repayment process.
Remember to fulfill your repayment obligations within the specified time frame to maintain a good credit score and avoid any negative consequences.
Quick Fadhili Loan App is here to provide you with the financial support you need, when you need it.