Mkopo Rahisi loan app is a financial app in Kenya that offers quick unsecured loans ranging between KSH. 500 to KSH. 50,000.
Mkopo rahisi loan app just like its name suggests provides easy loans. The customer does not require many legal formalities to qualify for this loan.
In this article, I will be revealing to you everything you need to know about Mkopo rahisi loan app.
Read also: Read more about Africa’s number one mobile lending app. Afrika loan app which is available in all the 56 Afrikan countries.
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Mkopo rahisi loan eligibility
To qualify for a loan on Mkopo rahisi loan app, you need the following qualifications;
You must be a Kenyan Citizen who is above the age of 18 years.
You must have a valid national ID to prove that you are a Kenyan citizen who is above 18 years old.
You must have an active M-Pesa account where you will receive the amount.
You must have a clean CRB record (Everyone will be removed from CRB’s black book in less than six months from now. You will therefore be safe in a few months time).
Advantages of Mkopo Rahisi loan app
The app has an easy and reliable loan processing method that one can rely on when they need a quick loan.
One can choose the repayment period that fits them most. They do not restrict a customer to a given fixed repayment period.
They process loans even during the weekends, holidays, and even at night because the process is automatic.
They do not share customer’s information with a third party. When you give them your information, it remains private.
Mkopo rahisi loan amount
Mkopo rahisi loan app offers loans ranging between KSH. 500 and KSH. 50,000.
When a customer joins the app, they starts with a low loan limit which then develops every time the customer pay their loans in time.
Mkopo Rahisi loan term
Mkopo Rahisi gives customers between 91 days (three months) and 365 days (one year).
The customer has the liberty to choose the repayment period that fits them most.
The repayment period however has a direct impact on the amount of interest the customer is going to repay. A long repayment period means a high amount of interest while a short repayment period means a low interest rate.
Mkopo rahisi interest rate
Mkopo rahisi charges an interest rate of 26%. This is the annual percentage rate (APR).
Mkopo Rahisi service fee
Mkopo Rahisi also charge a service fee ranging between KSH. 99 and KSH. 200.
The amount of service fee one will pay depend on the following three factors:
- Their credit history with Mkopo rahisi loan app
- The amount they want to borrow
- The repayment period they have settled on.
Practical example of Mkopo rahisi loan
For example if you borrow KSH. 2,000, you will be required to repay the amount with a 26% interest.
The total interest you will be required to repay will therefore be KSH. 520.
You will then be required to repay KSH. 91 service fee which will be deducted from the amount before it is disbursed to your M-Pesa account.
The service fee will be deducted when calculating your interest. The calculation will therefore be as follows: (2,000 + 520 – 91) = 2,429.00
Mkopo rahisi paybill number
Mkopo rahisi does not have an active paybill number or an active till number. You will therefore be required to use M-Pesa express option which is in the mobile app to repay the loan.
You are therefore advised not to delete the app once your loan is approved because you will require it when repaying the loan.
Mkopo Rahisi contacts
Physical Address: 6th Floor, 106 Kijabe Street, Nairobi, Kenya
email; They do not have an active email
Phone number: +254799491371
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