iPesa loan app is the latest loan app in Kenya that provides fast credit loans to Mpesa. The loan app is currently ranked among the top 50 mobile Finance app on the Google Play store and Similarweb.com, a website that ranks mobile apps according to their popularity.
Equally important the app has an average rating of 4.3 out of 5 as per Google Play store app rating and review. The iPesa loan app provides easy and fast credit loans to straight to your M-Pesa account.
iPesa Loan App Interest Rate.
Compared to other loan apps, iPesa loans have a validity period of between 91 days to 180 days. The loan duration attracts varying interest rates of 0 to 6% of the loaned amount.
Of course, the loan app also charges a service fee of 5% to 10% which is also dependent upon the loaned amount.
Now that we’ve talked about the loan limit and other charges, What is the minimum amount that I can borrow?
Well, to be honest, the minimum amount of money that you can borrow from the app is Ksh 500. Your loan limit is set to grow depending on how you repay the first one but usually takes a lot of time before that happens.
Although the iPesa loan app has a maximum loan limit of Ksh 50,000, to get to this limit requires continues use of the loan app and discipline in terms of loan repayment.
You may also read about the Tala app.
How do I apply for a Loan on iPesa?
Applying for a loan on iPesa isn’t that hard as compared to other loan apps, all you need to do is to register using your M-Pesa mobile number and then, apply for your first loan of Ksh 500. Here is how to apply for a loan on the iPesa loan app.
- Open the Google Play Store app on your phone to download and install the loan app.
- Next, open the loan app to register using your phone number.
- An OTP will then be sent to you. Use this code as the PIN.
- log in to the loan app and then apply for the exact amount of money which is Ksh 500.
- Select the loan repayment period and then, accept their terms and conditions.
- Now, you have to wait for iPesa to verify your details and approve your loan.
- Your loaned amount will then be credited to your m-Pesa account within a few minutes of approval.
How to contact iPesa
There are several ways you can contact the iPesa support team.
- On social media platform – Through their active Facebook page
- In-app – open the loan app and see the contact us section.
- Via email – email@example.com
- On Google play store under the apps review section.
- On mobile phone via 0757 222 979
Lastly, You may also be interested in other similar loan apps like
- HF Whizz App Download 2019