How to get a Loan from Uba Pesa

Uba Pesa Loan offers loans ranging from Ksh 500 to Ksh 50,000 with a flexible repayment period of 61 to 90 days. Approvals are instant, and interest rates reach a maximum 15% from the 14th day. To check your limit and apply, download the app here. Loans are unsecured, making the process hassle-free.

Disbursement Details:

How to Access/Register for the Loan

Desktop screenshot of Uba Pesa App in Play Store

To access Uba Pesa Loan:

1. Download the Uba Pesa app from the Google Play Store.
2. Register using your M-Pesa number and create a PIN.
3. Get approved and receive the loan directly to your mobile wallet.

How to Apply for the Loan

1. Open the Uba Pesa app.
2. Log in with your phone number and PIN.
3. Check your loan limit on the dashboard.
4. Enter the desired loan amount and select the repayment period.
5. Submit your application.
6. Receive approval instantly and get funds disbursed to your M-Pesa.

Total Cost Breakdown (Loan Fees):

• Processing Fee: 2% of the loan amount.
• Loan Facilitation/Access Fee: 10%.
• Interest Rate: Applicable from the 14th day up to the 60th day, up to a maximum of 15%.
• Insurance: 1% of the loan amount.
• Withdrawal Fee: As per M-pesa charges.
• Late Payment Penalty: 10% of the overdue amount, charged on the 65th day.
• No more interest ischarged after the 60th day.
• No more fees or penalties will becharged after the 90th day.

Repayment Details:

Repaying your Uba Pesa Loan is simple and flexible. Repayments are due within 61 to 90 days and can be made in multiple installments or a single installment based on your capacity. Early repayment is allowed with no penalties and can improve your credit limit. You can repay through:

• Mobile money transfer (e.g., M-Pesa).
• Bank transfer via Uba Pesa app.

Eligibility Requirements:

To qualify for a Uba Pesa Loan, you must:

• Be a Kenyan citizen.
• Be at least 18 years old.
• Have a valid national ID.
• Own a registered mobile number.
• Have a regular income source.

Download the app on Play Store

Representative Example of Loan Costs

Here’s a breakdown of the costs associated with a Branch loan:

Example Breakdown for Ksh 1,000 Loan:

• Borrowed Amount: Ksh 1,000
• Repayment Period: 61–90 days
• Access Fee: 10% (Ksh 100)
• Interest Rate: 15% (Ksh 150)
• Net Amount: Ksh 885
• Total to Pay: Ksh 1,150
• APR: 90% (not applicable as the maximum period is 90 days)

Alternative Lenders to Consider

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