Riara Loans is a reliable lending app that provides safe lending channels and solves the problem of urgently needing money.
It offers users the opportunity to borrow up to Ksh 80000 without the need for mortgage or prepayment fees.
With low-interest loan products specifically for users, Riara Loans ensures that borrowing money is worry-free and easy.
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Why Choose Riara Loans?
There are many reasons why Riara Loans is a great option for anyone in need of financial assistance. Here are just a few:
- Convenient and Easy to Use: Riara Loans offers an online loan application process that can be completed in just three simple steps. You can apply for a loan at any time of the day, from anywhere, without ever having to leave your home.
- Low-Interest Rates: Riara Loans provides high-quality, low-interest loan products that are specifically designed for users. Unlike other lending apps, Riara Loans does not offer high-interest loan products.
- Same Day Approval: With Riara Loans, you can apply for a loan and receive approval on the same day. Your money will be deposited directly into your account, allowing you to access the funds you need quickly.
- No Guarantees Required: Riara Loans does not require any guarantees for you to borrow money. This means you can get a loan even if you do not have any assets to secure the loan.
Features of Riara Loans
- Apply Online at Any Time: Riara Loans offers a 24-hour loan application process that can be completed online. There is no need for face-to-face interactions, and the application process is straightforward and hassle-free.
- No Need for Collateral: Unlike traditional lenders, Riara Loans does not require any collateral for you to borrow money. This means you can get a loan without having to put any of your assets at risk.
- Low-Interest Rates: Riara Loans provides high-quality, low-interest loan products that are specifically designed for users. The interest rates are significantly lower than those of other lending apps.
- Convenient Repayment: You can repay your loan anytime, anywhere using Riara Loans. Repayment can be done online or offline, making it easy for you to manage your finances.
- High Loan Amount: With Riara Loans, you can borrow up to Ksh 80000, giving you access to the funds you need to cover your expenses.
Product Introduction
- Age: Over 18
- Loan amount: KSh 1,500.00 – KSh 12,000.00
- Loan term: 91 days (shortest, including renewal time) – 365 days (longest, including renewal time)
- Interest rate：Maximum interest rate is 18% per year, 0.05%/day
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 to be paid is KSh 2,000.00 * 0.05% * 30 = KSh 30.00. The monthly repayment bill, including the principle and interest, is KSh 2,000.00/4 + KSh 30.00 = KSh 530.00.
The total repayment bill, including principle and interest, is KSh 2,000.00 + KSh 120.00 = KSh 2,120.00.
Activities to Reduce Loan Pressure
Riara Loans offers various activities to help reduce the pressure of loan repayment. For instance, the company provides a Newcomer’s Big Gift Package that gives you a coupon worth KSH120 upon logging into the app.
Convenient Repayment Methods
Riara Loans supports multiple channels for repayment, including convenience stores, bank transfers, and online banking repayments. This ensures that you can easily repay your loan using your preferred payment method.
Mpesa, a popular mobile payment service, is also supported by Riara Loans. This means that you can make repayments using your e-wallet or online banking.
Contacts
If you have any problems using Riara Loans, the company provides customer support via their online service. Their working hours are 8 am to 5 pm, from Monday to Saturday.
You can contact them via their consumer hotline at +254207903685 or send an email to help@riaraloans.co.ke.
Conclusion
Riara Loans is a trustworthy lending platform that provides users with low-interest loans and hassle-free loan application and repayment processes.
The app is designed to cater to a wide range of users, from low-income blue-collar workers to self-employed businessmen and students.
With convenient repayment options and a reliable customer support team, Riara Loans is an excellent choice for anyone in need of financial assistance.