This article will coveright to cook everything you need to know about iPesa Loan App. One of the best mobile loan apps available in Kenya. The app provides fast and easy credit to M-Pesa users in Kenya, making it a popular choice for many Kenyans with limited access to formal borrowing options.
We will look at how it works, how to download the iPesa app, and how to repay the loan.
Table of Contents
What is a mobile loan?
A mobile loan is a type of credit extended through a mobile phone. Mobile loans are typically small, short-term loans used to cover unexpected expenses or emergencies.
In many cases, one can obtain mobile loans like iPesa without a credit check. This makes them an attractive option for people with bad credit or no credit history.
Mobile loans are typically repaid within a few weeks or months. However, some lenders may offer longer repayment terms. Interest rates on mobile loans can be high, so comparing offers from multiple lenders before taking out a loan is important.
What is iPesa loan?
iPesa is a mobile loan app that makes it easy for people in Kenya to access a loan anytime, anywhere.
With iPesa, you can get a loan to M-Pesa without going through the hassle of visiting a bank. All you need is your phone and an internet connection. iPesa is fast, convenient, and secure. So if you need some extra cash, download the iPesa app now and get started!
How does the iPesa loan app work?
The iPesa App is just like any other loan app available. It works by scanning your phone and collecting information such as; your phone number, contact details, and additional information to determine creditworthiness and the limit of loans you can take out.
iPesa loan app download and application
Here is how to get your first loan from iPesa in Kenya:
- Open the Play store app on your smartphone.
- Download and install the latest loan app.
- Open the loan app and register with your M-Pesa number.
- They will send a one-time password to you to verify your details.
- Open the loan and view your loan limit, and then apply for a loan.
iPesa, the newest loan app on the market, has more than 500,000+ downloads on the Play store.
In addition to the above, at the time of this writing. iPesa loan app has a star rating of 3.9, brought about by reviews of 37,366 users.
iPesa app’s current software version is 1.0.35 and is 6.1 MB in size. And as a matter of fact, the loan app requires Android version 4.4 and above to download and install.
How do I repay my loan?
For the sole purpose of this post, here is how to repay the iPesa loan app loan. You can repay your loan through any of the following methods.
- Through the iPesaloan app itself, by Clicking On “Pay Loan.” The M-Pesa menu will pop up, prompting you to complete your transaction.
- Via iPesa M-Pesa Paybill number 192010 and using your phone number as the account number.
In case you are stuck or experiencing issues with the loan app. You can contact the iPesa support team through either one of the following methods.
On Google Play Store via the app reviews section. Lastly, you can also contact the support team via their official Facebook page, which is unavailable.
iPesa loan app frequently asked questions
The following are some frequently asked questions about the iPesa loan app:
How do I get a loan with iPesa?
To get a loan with iPesa, you need to download the app and register with your M-Pesa number. They will send a one-time password to you to verify your details. Once you have registered, you can view your loan limit and apply for a loan.
What is the interest of iPesa?
iPesa charges a service fee on all loans. The service fee is a one-time charge, typically 36% of the loan amount.
What are the repayment terms for iPesa loans?
iPesa offers loans with terms of 3 to 12 weeks.
iPesa app conclusion
Getting a loan on your mobile phone has never been easier with the iPesa loan app. The app is fast, convenient, and secure. So if you need some extra cash, download the iPesa app now and get started!
All you need is a smartphone and an internet connection.