Personal Loans

iPesa Personal Loan: Product Details & How to Apply

Rates available from as of 1st April 2021
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iPesa

Ipesa Unsecured Loan
Easy Apply
Amount
Ksh500 - 50k
Duration
14 days
Interest Rate
Total Cost Including Institution's Other Fees
25% - 36% per loan
Typically approved within 24 hours
visit website
Easy Apply

Loan Type

Unsecured Loans

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

Money254 Review

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

See more Personal Loans available in Kenya on Money254

From short-term app loans to long-term bank loans, we have aggregated all of the unsecured Personal Loans from Kenya's top financial institutions.

See All Personal Loans

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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