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iPesa Personal Unsecured Loan Details

Rates available from as of 1st April 2021
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iPesa

Ipesa Unsecured Loan
Amount
KES
500
-
50000
Duration
0.5
months
-
0.5
months
Total Cost
18
%
-
36
%
per loan
Typically approved within
1
days
visit website

Loan Fees

  • Interest Minimum: 18%, 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

Money254 Review

Pros:

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

Cons:

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








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