Afrika loan app 2023: APK Download, Paybill, Contacts

Introduction

Afrika loan app is a mobile app that provides instant loans ranging between KSH. 200 and KSH. 70,000.

Loans offered by the Afrika loan app are processed instantly and one does not require any guarantor or security to have their loans approved.

To download this app, you can click on this link which will redirect you to google play store and to the location of the app and you can go ahead to download and install the app.

Read also: Mkopofast loan app 2023. Everything you need to know about Mkopofast loan app.

Read also: Cloudloan app 2023: here is everything you need to know about the newest loan app in Kenya.

Afrika loan app loan amount

Afrika loan app offers loans ranging between KSH. 200 and KSH. 70,000. A customer starts with loans of lower amount when they register a new account on the app and then grow their loan limits by borrowing and repaying their loans in time.

Afrika loan app loan term

Afrika loan app gives customers between 70 days and 720 days to repay their loans.

A customer can choose the repayment period that fits them most. The period can not however be more than 720 days. You can however pay before your repayment period and you will not be penalized.

Afrika loan interest rate

Afrika loan app charges interest rate ranging between 183% and 1332% per annum.

This interest calculated monthly ranges between 15.25% and 111%. The amount one pays depend on the repayment period they settle on when borrowing the loan.

Afrika loan calculation (Practical example)

For example, if you borrow KSH. 5,000 to be repaid in 70 days, you will be required to repay the amount with an interest rate of 1.18% per day which is the same as 430% Annual Percentage Rate (APR).

You will therefore repay KSH. 1,546 after every two weeks and make a total of five payments which will be KSH. 7,730 in total.

Advantages of Afrika loan app

Afrika loans are fully processed online. This means that you will not need any paperwork in order to qualify for a loan.

The loans are processed very fast. Afrika loans are processed automatically making the process quick.

Has an active customer care service which can easily be reached and offer solution to the customer’s needs.

They give customers long repayment period. Afrika loan app gives customers up to 720 days (Two years) to repay their loans which is the longest time one can be given by a similar lending app.

They have few requirement. They do not require many documents in order to process one’s loan.

They do not share the customer’s details with anyone. When you share your details with Afrika loan app, you are sure that the details will not be shared with anyone and those in your contact list will not be contacted to be informed when you default the loan.

Afrika  loan app customer care contacts