Mobile loans have become more popular for customers seeking quick loans. Unlike over the counter loans, mobile loans offer convenience and flexibility. Take for example if one had an emergency; that requires financial attention, over the weekend and on public holidays when most banking halls are closed! Such an individual will suffer a great deal. But thanks to mobile loans Apps, one can process the loans online and instantly. All what is required is a smart phone and you will get your loan instantly. Furthermore, mobile loans are paperless and thus very few requirements, if any, are needed. Again, there so many lenders providing loans online. The Mobile lenders have developed Apps that can be downloaded freely from Play Store. Here is one of the lenders providing such loans online.
Afrikaloan Kenya mobile loans
Afrikaloan Kenya provides you with convenient and fast loans online, allowing you to get your money directly to your M-Pesa account.
The Afrikaloan Kenya mobile app enables you to receive financial support wherever you are, and at any time.
A good credit history is the easiest way to ensure fast loans approval whenever you apply.
Improving your credit history is easy – simply download the app, take out loans and pay back on time.
SIMPLE AND CONVENIENT
Three easy steps of getting a loan online:
Download our app
Apply for a loan
After approval, receive the money on your M-Pesa account. Pesa chapchap!
You can a get a second loan with just a couple of clicks! Get access to bigger loans, lower interest rates, and flexible repayment terms. Increase your loan limit up to Ksh 50 000!
WHY PEOPLE CHOOSE AFRIKALOAN?
It’s completely online. There’s no need to go to an office to get a loan, simply install the app and fill in a short application form, whenever and wherever you are.
Fast processing. You can get an instant loan on your Mpesa, as soon as you require financial assistance.
Great terms. Low interest rates and flexible loan repayment terms. No hidden fees or charges.
Safe and secure. They encrypt all personal data to protect your privacy and we never share any data with third parties.
Customer support. Their dedicated customer support team is always ready to answer any question you may have on Facebook and via email.
Afrikaloan offers loans ranging from KSh 500 to KSh 50,000 (up to a USD 550 equivalent). The loan repayment terms are up to 52 weeks and our customers can always pay their loans off in advance. Annual interest rates for regular clients range from 10% to 182.5%, depending on your loan’s terms.
Interest rates are calculated depending on various factors, such as your repayment history and the cost of lending for Afrikaloan. There are no extra fees or charges and there is no collateral necessary. Standard SMS charges, payment system (M-Pesa) fees and your mobile carrier’s data charges may apply.
Here’s how interest rates are calculated:
For example, if you are issued a loan in the amount of KSh 2,000 for 7 days at a rate of 2.4% per day, including the day of issue. The total interest you pay for this loan will be KSh 384.