All about loans in Kenya
A personal loan is a handy tool to cover any large expense. Before you apply, learn what you’ll need to complete an application and increase your chances of approval. 8 steps to take before getting started Before you start on the loan process, confirm what type of loan you need. […]
Whenever you ask a lender for any kind of credit, you’ll have to go through the application process. However, before you submit a personal loan application, it’s important to review your credit report and your credit score, so you’ll understand what lenders might see when they pull your credit report and scores. Remember, […]
A personal loan is a type of installment loan that gives you a fixed amount of money in one lump sum. Personal loans are usually unsecured, meaning you don’t have to use collateral to secure funds. Repayment terms can range between one and twelve months. Personal loans can be used for almost […]
When managed responsibly, a personal loan can be one of the best ways to relieve financial burdens and set yourself up for success. It’s an easy way to cover a down payment, handle an emergency, or take your family on a vacation. A personal loan, however, can also be challenging […]
It’s critical that you have a clear repayment plan, whether you’re looking to take out a personal loan to consolidate debt, finance a home improvement, fund your next big trip or pay for a cross-country move. How much do I need? The first step in choosing a personal loan is knowing how much you need. The smallest […]
Do: Check your credit reports Your credit score and credit history are major determinants in how you receive on a personal loan. Banks use credit as a barometer for risk. If you have made payments in a timely fashion before, then you are more likely to repay your loan. Therefore, […]
Minimum and Maximum Amount You Can Borrow When choosing a personal loan product, you also need to consider whether the minimum and maximum loan amount given matches your needs. One thing you need to keep in mind when it comes to the minimum and maximum loan amount is that bigger […]
Personal loans are a great way to raise money for various needs, such as starting a business, purchasing an asset, consolidating debt, or dealing with an emergency. However, this doesn’t mean you should walk into the first financial institution you come across and apply for a personal loan. Taking a […]
A loan is a sum of money that is borrowed by one party from another and is to be paid back with interest. Whether you’re looking at purchasing a car, starting a business, or consolidating your debts, it’s important to know about all of your options. In Kenya, the formal financial […]
Should you borrow money? Does your financial situation justify a personal loan, or should you try to avoid any debt at all costs? These types of questions often go through the minds of folks who are contemplating applying for personal loans irrespective of the expense. While there can be considerable […]