iPesa offer:

1. Loan Amount: 500 Ksh ~ 50,000 Ksh

2. Loan Term: the shortest tenor is 91 days, the longest is 180 days

3. APR : Minimum 36% to Maximum 72%

4. Service Fee: 0%

5. Loan request: Need to be at least 18 years old or above

Example:

If the loan amount is 2500 Ksh, the loan term is 180days, and the APR is 72%, the total service fee should be 2500 Ksh 72%(APR)/2 = 900Ksh. The total amount must be paid: 2500+250072%(APR)/2=KES3400

Repayment Example:

If you choose to make a one-time repayment, then you will make a one-time repayment of KES3400 after 180 days.

If you choose to make monthly repayments, your monthly repayment amount will be KES3400/6 = KES 566.67

Fee Details:

Loan principal: 2500 Ksh (180 days)

Loan fee(total fee of the loan): 900Ksh(=2500 Ksh * 72%(APR)/2)

Total amount payable: KES3400(=2500 Ksh+2500 Ksh * 72%(APR)/2)

APR: 72%

To apply for a loan, you need to follow several steps:

1. Register with your M-Pesa number

2. Apply for the exact loan amount you need

3. Get approved and receive the money

4. Repay on time to get a credit limit of 50,000 Ksh