Mkopo rahisi loan app 2023 is a mobile lending app that provides customers with instant loans ranging between KSH. 500 and KSH. 50,000.
This app offers “easy” loans that are processed instantly and disbursed to customers’ M-Pesa accounts.
The process of borrowing a loan from Mkopo rahisi can take up to five minutes depending on your phone’s speed.
To download this app, click on this link which will direct you to google play store and then straight to the apps location after which you can go ahead to download and install the app.
Read also: Mkopo Rahisi loan app. Legit or Scam? Find out the full details in this article
Read also: Afrika loanapp 2023: The only lending app that is available in all the 56 Afrikan countries
Mkopo rahisi loan app 2023 loan amount
Mkopo loan app 2023 offers loans ranging between KSH. 500 and KSH. 50,000. The amount one can borrow depend on their loan limit.
To grow your loan limit is very simple. All you have to do is to continue borrowing money from Mkopo rahisi loan app 2023 and repay in time to have your loan limit increased immediately.
Mkopo rahisi loan app 2023 loan repayment period
Mkopo rahisi loan app 2023 gives customers between 92 days and 366 days to repay their loans.
You will however have to pay the loan with more interest rate when you will settle on a longer repayment period while you will have to repay the amount with less interest rate when you settle on a short repayment period.
Mkopo rahisi loan app interest rate
Mkopo rahisi loan app charges 25% interest rate on the loans they offer. The interest rate they charge is constant and not fluctuating as the one charged by other lending apps in the country.
In this article I will also show you a practical example of a loan on Mkopo rahisi loan app to help you understand how the repayment works.
Mkopo Rahisi service fee
Mkopo rahisi loan app 2023 also charge a service fee ranging between KSH. 95 and KSH. 199. This fee is charged before the loan is disbursed meaning that you will receive less amount in your M-Pesa account.
Mkopo loan app 2023 loan requirements
You must be 18 years old and above. You must have a national ID to prove this.
You must e a Kenyan citizen. A national ID will also prove this.
You must be a safaricom subscriber with an active M-Pesa account. To achieve a high loan limit, avoid using a new phone number.
Have a clean CRB record. Of course nearly everyone currently have a clean CRB record after the changes that were made by the government.
Practical example of Mkopo rahisi loan calculation
For example if you borrow KSH. 3,000 from the app, you will be required to repay it with a 26% interest rate. This is equal to KSH. 780.
When you subtract KSH. 95 processing fee which will be deducted before the loan is disbursed, you will be required to repay a total of KSH. 3,685.
Advantages of Mkopo Rahisi loan app
Mkopo rahisi loan app is available everywhere in Kenya. Even when you cannot access their physical location, you can still access them through their app.
They do not require your credit report with other apps before you qualify for a loan with them.
You can improve your loan limit by simply repaying your previous loans in time.
Your loan is processed and approved in one hour which is fast as compared to other mobile lending apps in the country.
It is a legitimate lending app not like other apps that masquerade as lending apps but are engineered by conmen to steal from unsuspecting Kenyans.
They operate 24/7. This means that you can access their loans every time including at night and during holidays.
Mkopo rahisi loan app 2023 contacts
Physical Address: Monrovia Street, Nairobi, Kenya