Hikash Personal Unsecured First Loan- 7 Days Details

Rates available from as of 1st April 2021
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Hikash

Unsecured First Loan- 7 Days
Amount
KES
1000
-
1500
Duration
0.25
months
-
0.25
months
Total Cost
18
%
-
18
%
per loan
Typically approved within
1
days
visit website

Loan Fees

  • Interest Minimum: 18%, per Loan
  • Interest Maximum: 18%, per Loan
  • Processing fee: None
  • Insurance Fee: None
  • Withdrawal Fee: None
  • Late Fees: 2% daily
  • Other Fees: None

Disbursement Details:    

  • Institution Type: Digital Credit
  • Application Method: App Based
  • Disbursement Method: M-Pesa

Repayment Details:

  • Repayment Frequency: Bullet
  • Early Repayment: Allowed
  • Repayment Method: M-Pesa

Eligibility Requirement:

  • Smartphone: Required
  • CRB: Must be in good standing
  • Income: No Minimum
  • Employment: Not Required
  • Network: M-Pesa Customer
  • History: Not Required
  • Documents: National ID
  • T&C Links

Money254 Review

Pros:

  • Formal employment not required
  • Fast approval time (less than 24 hours)
  • Loan limit grows over time
       

Cons:

  • Low loan limit ( 1500 KES)
  • Relatively high Interest rates (18% per Loan)
  • High late fees ( 2% daily)

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