Seven Kash is a mobile loan app that offers reliable and safe credit loans to Kenyans. The app is designed to provide convenience and flexibility in accessing loans with low interest rates.
With Seven Kash, borrowers can get loans ranging from KSh 1500 to KSh 85,000 for a period of 91 days to 365 days.
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Loan Limits and Interest Rates
The maximum loan limit for Seven Kash is KSh 80,000. The app offers low interest rates with a maximum APR of 48% per year. To illustrate the fees charged, let’s consider a loan of KSh 20,000 with a term of 91 days. The monthly interest rate is calculated as follows:
- Monthly interest rate = 48% / 12 = 4%
The monthly interest for a KSh 20,000 loan is calculated as follows:
- Monthly interest = KSh 20,000 * 4% = KSh 800
The total monthly payment for the loan is calculated as follows:
- Total monthly payment = KSh 20,000 / 3 + KSh 800 = KSh 7466
The total repayment bill including the principal and interest is:
- Total repayment bill = KSh 20,000.00 + KSh 2,400.00 = KSh 22,400.00
Eligibility
To be eligible for a loan from Seven Kash, you must be a Kenya resident with a registered M-pesa number and be 18 years or older.
How it Works
Getting a loan from Seven Kash is easy and straightforward. Here is a step-by-step guide on how to apply for a loan:
- Install the Seven Kash App from the Play Store.
- Register an account.
- Fill out any required information.
- Select the amount you would like to apply for.
- After the confirmation of the loan agreement, you will be notified if you qualify for the loan or not. If you qualify, the approved loan amount will be disbursed into your account, and an SMS notification will be sent.
Our Advantage
Seven Kash offers several advantages to borrowers. These include:
Convenience
With Seven Kash, borrowers can receive their loan amount directly in their M-pesa account. This means that they don’t have to visit a physical office or bank to access their funds.
More Options
Seven Kash offers high loan amounts of up to KSh 80,000, giving borrowers more options to meet their financial needs.
Security
Seven Kash is committed to providing safe and reliable loans to its customers. The app uses advanced security protocols to protect borrowers’ personal and financial information.
Data Collection
Seven Kash collects contact list and SMS data for the sole purpose of verifying borrowers’ identities and creating credit scoring models. The data is also used for collections and credit reporting.
Conclusion
Seven Kash is a reliable and safe credit loan app for Kenyans. The app offers low-interest rates and high loan amounts, making it a convenient and flexible option for borrowers.
With its commitment to security and data privacy, Seven Kash is an excellent choice for anyone looking to access credit quickly and easily.