iPesa Personal Loan: Product Details & How to Apply

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iPesa
Ipesa Unsecured Loan
Loan Amount
Ksh500 - 50k
Loan Period
14 days
Interest Rate
Total Cost
(incl fees)
25% - 36% per loan
Product Details
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Total Cost Breakdown (Loan Fees):

  • Interest Minimum: 25%, per Loan
  • Interest Maximum: 36%, 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: No Requirement
  • Documents: National ID
  • T&C Links

Representative Example of Loan Costs:

  • Example Loan Amount: ksh10,000
  • Representative Loan Cost: 36%
  • Total Loan Repayment Amount: ksh13,600

How to apply

Our Review
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Pros:

  • App based application, no paperwork
  • Loan Limit grows over time
  • Formal Employment not required
       

Cons:

  • Short loan tenure (14 Days)
  • Relatively high late fees (2% daily)
  • Fees deducted upfront - you don't receive full application amount

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How to Apply for iPesa Loan, App, Repayment, Fees, Contacts

IPesa Loan App is is owned by the 0some Fintech company and managed by X credit. It is available on Google Play Store, with over 1 million downloads and a 4.5 out of 5 star rating.

iPesa does not have a USSD code, so you need a smartphone to access the loans via the app.


Who Is Eligible For iPesa Loans?

iPesa App Loan Limits and Interest Rates

How to Register Using the iPesa Loan App

How to Apply for Your First iPesa App Loan

How to Make iPesa Loan App Repayments

Fees and Penalties

Privacy and Permissions

iPesa Loan App Reviews

Contacts

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Money254 strives to provide relevant and accurate product information, which Money254 obtains directly from each institution’s tariff guide. If you believe a product’s details are incorrect, please report the product to Money254.

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