In this article, we will discuss iPesa Loan App, considered one of Kenya’s top mobile loan apps. It is a convenient option for M-Pesa users with difficulty obtaining formal loans. We will cover the app’s functions, how to download it, and how to repay the loans.
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 that cover unexpected expenses or emergencies.
One can often 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 essential.
What is an 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 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 similar to other loan apps. It uses your phone’s data, including your phone number and contact information, to assess your creditworthiness and determine the maximum amount of loans you can receive.
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, view your loan limit, and then apply for a loan.
iPesa, the newest loan app on the market, has more than 5M+ downloads on the Play Store.
In addition to the above, at the time of this writing. The iPesa loan app has a star rating of 3.5, brought about by reviews of 33K users.
iPesa app’s current software version is 1.0.35 and is 6.1 MB in size. 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.
iPesa contacts
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.
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 must download the app and register with your M-Pesa number. They will send a one-time password to you to verify your details. Once 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 Loan 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.
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