Mkopofast loan app 2023: APK Download, Paybill, Contacts

Introduction

Mkopofast loan app is a mobile app that offers instant personal loans ranging between KSH. 2,000 and KSH. 100,000.

Mkopofast loans are unsecured, processed fully online, and automatically 24 hours a day and 365 days a week.

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

Read also: Cloudloan app 2023. Read more about one of the latest loan apps in Kenya.

Read also: Instapesa loan app 2023. How to borrow instant loans to a tune of KSH. 70,000 on instapesa.

Mkopofast loan amount

Mkopofast offer loans ranging between KSH. 2,000 and KSH. 100,000. They start by offering a customer a KSH. 2,000 loan which is the lowest amount they offer. The loan amount then grow anytime the customer pa their loan in time.

Mkopofast loan repayment period

Mkopofast gives customers up to 365 days (one year) to repay their loans. The shortest period one can be given is 91 days (three months).

When borrowing the loan, you will be allowed to choose the period you want to take repaying your loan.

Mkopofast loan app interest rate

Mkopofast loan app charges an interest rate ranging between 12% and 24%.

The percentage interest one will pay will depend on the repayment period they will settle on when borrowing the loan. If they settle on the longest repayment period, they will have to repay the amount with the highest interest rate, if they settle on the shortest repayment period, they will have to repay the amount with the lowest interest rate.

Mkopofast loan eligibility

• You must be a Kenyan resident.
• You must have your valid original ID.
• You must be aged between18-60 years old.
• You must have a clean Credit Reference Bureau  record.

Mkopofast loan calculation (Practical example)

For example, If you borrow KES6,000 and set the repayment period to 365days, the Annual interest rate will be 20%.

The total interest rate will be calculated as follows;

(6,000*20%)= KES 1,200.

The total amount you will be required to repay will therefore be, KES 6,000+ KES (6,000*20%)= KES 7,200.

Advantages of Mkopofast loan app

Charges a low interest rate. When compared to other lending platforms, Mkopofast loan app charges a rather low interest rate.

Does not charge service fee. Other apps deduct service fee before they disburse the loan to your account.

They have a customer care service that operates 24 hours a day and 7 days a week.

They give out loans of up to KSH. 100,000 which is more than what most apps are willing to offer.

Mkopofast customer care contacts

Email: support@Mkopofast.com
Physical address: Thika Road, Business tower, Office block 3, Tower 1, Nairobi, Kenya