iPesa is a recent entry in the mobile loan industry. iPesa claims to be an Easy and Fast App that sends your credit direct to M-Pesa mobile money. iPesa loan app offers credits from as low as Ksh. 500 to Ksh. 50,000. The shortest tenor for credits is 91 days while the longest is 180 days so you will have enough time to repay your credit. Their interest rate stands at 12% with no service fee. Once you download the app register with your M-Pesa number and then apply for the exact amount, you need. If you repay your credits on time, your credit limit will be set at Ksh. 50,000.
The reliable Loan App iPesa offer:
- Loan Amount: 500 Ksh ~ 50,000 Ksh
- Loan Term: the shortest tenor is 91 days, the longest is 180 days
- The maximum APR is 36%-72%.
- Service Fee: 36%
- Loan request: Need to be at least 18 years old or above
To apply for a loan, you need to follow several steps:
- Register with your M-Pesa number
- Apply for the exact loan amount you need
- Get approved and receive the money
- Repay on time to get a credit limit of 50,000 Ksh
Privacy and Permissions: iPesa makes getting a personal loan simple by using the data on your phone including your SMS history to verify your identity and create a credit score. They claim to encrypt the data you choose to share with them to protect your privacy. This means they do take your privacy very seriously and promises to never share your information with third parties.