Stawika loan app is a financial app that offers instant loans ranging between KSH. 500 and KSH. 70,000. Stawika loan app offers personal loans which do not require security or guarantors to be approved.
In this article, I will inform you of everything you need to know about Stawika. I will inform you about the apps interest rate, paybill and customer care number.
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Stawika loan requirements
To qualify for a loan on Stawika, you need to submit the following;
- legal name
- National ID
- Mpesa Number
- Mpesa Statement
Stawika interest rate
Stawika charges a monthly fee of between 7% and 21%. This interest is compound and it accrues monthly.
Stawika loan APR
Stawika charges a maximum Annual Percentage Rate (APR) of 31%. This is the highest annual interest one can pay
Stawika loan amount
Stawika offers loans ranging between KSH. 500 and KSH. 70,000. A new customer starts with a low amount then increase as they continue to borrow and pay their loans.
Stawika loan app processing fee
Stawika does not charge any processing fee. The only fee charged by Stawika is the monthly interest and the rollover 10%.
Stawika rollover fee
Stawika charges a 10% rollover fee on the loan offered. The fee is calculated as the percentage of the total.
Stawika loan repayment period
Stawika gives customers a repayment period of between 61 days and 90 days. The customer can choose the period that fits them most when borrowing the loan.
Stawika loan calculation
For example, if someone borrow a KSH. 1,000 loan, they will repay it with an interest fee of KSH. 210 and a rollover fee of KSH. 100. The total amount they will be required to repay is KSH. 1,310.
Stawika loan repayment terms
A customer is allowed to pay a loan with a maximum of 3 roll overs with no additional interest or rollover fee charged after this.
Stawika loan app uses data that you submit to us such as your M-Pesa statement, legal name and access to your phone to calculate your loan limit.
Stawika loan app contacts
Phone numbers: 020 7608 965
0790 523 410
WhatsApp: 0789 814 134
Official website: Stawika.com