Product | Digital Consumer Term Loan |
Channels Available | USSD or Mobile App |
Loan Tenure | 30 Days |
Credit Limit | Based on customer’s credit score. Scorecard is based on customer’s transactions & CRB score |
Charges | - Monthly Interest -19% for any new customer onboarded,depending on the behaviour of the customer the interest will drop accordingly down to 12% - Rollover Fee/Penalty-5% - Extension Fee-9% |
Repayment/ Collections | - Voluntary payment from their Mpesa account before due date - Auto Strike Deduction from Customer’s Mpesa wallet when the loans reach 30+ DPD |
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