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Best online loans in Kenya 2018
Different types of loans have become a part of our life for a long time now. Currently, they are more popular, and can be obtained through our mobile phones. This is not a surprise, taking modern technologies into account. Residents can get now get online loans in Kenya via Mpesa. How does it work at all? Continue reading to find out.
Let’s face it, modern life can be quite expensive. Our expenses are either planned for or unscheduled, but the truth is that some of them are a hard punch to our wallets. And sometimes, it is really difficult to meet such charges without any help. Be it a wedding, a question of getting proper education for our children, a necessity to buy a bigger house for your family, the need to pay a hospital bill or just a desire to get a new car, we all need a loan at some point. And a fine credit history is quite a recommendation nowadays. So what types of loans can you get in Kenya and what do you need to know about them? What loans can I get in Kenya? The needs that can require getting a loan can be different. And no one is aware of this fact more than people working in different banks. That’s why you can apply to the nearest bank to get money for the following purposes. New house or apartment .
This is called a home bank loan, also known as mortgage. So, if you want to buy a new house or to build one from scratch, you can apply for such a loan in a bank. This type of loan is currently widespread all over the world, and the reason why it is so popular is clear – extremely high costs on the housing market. So, with this credit, a client can get the whole sum, or can pay a part of it by themselves. This is a long-term loan, usually for ten years and more. The problem is the very high interest rates.
Start or support for business projects Many banks are more than ready to give you some overdraft limits in business loan. There are also different plans and packages banks can offer for business start-ups and companies.
Yes, a bank can help you to get your dream car. Or maybe several cars if they are needed for your business. In fact it’s not only about the cars. You can get a loan for any transport. This allowance is equally attractive today among private individuals as well as industrial transport companies. Depending on the bank, a loan can be financed by a client partly or fully sponsored by a creditor company. Making your house more comfortable Source – pinterest.com Some of us would be surprised by this information but it’s true. There is a very real possibility to get a loan not just to purchase or construct a residential property. You can apply to your trust company to renovate your house or furnish it and to equip it with some modern devices. This is if you really think that it is so urgent. Personal needs Source – livemint.com You can get a loan to provide your needs. It can be urgent and unexpected expenses or every day expenses.
The possibility of getting a personal loan depends highly on your credit history and the level of personal income. There is also a possibility for a third party to become a security for your loan. This what is called a secured loan. Making an investment Source – money.usnews.com Kenyan banks offer a possibility to borrow some money to buy a share in a business company. So, if you find a new start up; reliable and promising enough,you can invest in it. In this case the loan is secured by your shares. Get educated Source – www.slate.com Well, everyone knows that is very important in modern world. Extremely important, and highly expensive. Fortunately, banks offer a range of educational loan schemes that are flexible enough. With educational loans, more people get the chance to study in colleges and universities, and to start a good credit history. What are instant Mpesa loans? Source – nytimes.com Regardless of purpose, obtaining a loan is associated with paperwork. Lots of paperwork. More precisely, the situation was like that until recently. But technologies have made our life and interaction with banks much easier. And with online loans in Kenya via Mpesa you don’t even need to visit the bank to get a loan. Yes, this online mobile banking launched in Kenya several years ago has made loans more available and easy. All you need to do is register an Mpesa account so you can apply and get instant online loans in Kenya any time you need. Through Mpesa, you get instant loans, send money to your family and relatives without being concerned about security, you can also pay your bills or withdraw your money without any trouble. No wonder loans in Kenya via Mpesa are so popular! So you can choose the company you like the most. Africa Loan Source – shutterstock.com This service allows the clients to get a loan via M-PESA within 15 minutes. And it takes only five minutes to fill the application. To get M-PESA loans through Africa Loan you have to follow these steps: Register an mpesa account, Activate it through your mobile, Access to M-PESA menu, Go to Loans and Savings, Activate M-PESA, Go to Africa loan and fill the form, Wait for a call from the operator or an email, Withdraw the transferred money from M-PESA account. If the loan is approved the money will be sent to your account and you will get a message. Than you can select M-PESA and withdraw your money. The repayment is also easy. All you need to do is: to get into your M-PESA, to go to “Lipa na M-Pesa”, to opt to a Paybill, to type the number of your account, to enter the number of your M-PESA, to indicate the sum of payment, to press OK. To apply for a credit the applicant should be at least 18 years old, having a job and Kenyan ID. Permanent residence address is required as well as mobile phone number and an M-PESA account of course. Zawadi Kenya Ltd. Another provider of instant loans for Kenyans having a stable job. You can fill the application form online and then just in two or three hours the decision on the application will be made. If the loan is approved you can get the money in any bank the very same day. There are two types of loans a client can get with Zawadi: Instaloan with the 17% rate which should be refunded in 30 days; ShuleChumz with a longer repayment period which is 3 month. The rate is 19%. This loan is specifically offered to give Kenyans a possibility to pay school fees. Branch instant loans Source – thecostcutters.com Branch company is probably one of the most user-friendly companies working in the market of instant Mpesa loans. All a user needs to get an online micro-credit from Branch is: Download the Branch app from Google play Install it applying the conditions Link your Branch application to your Facebook personal page Apply for a necessary loan. As a matter of fact, all you need to start loaning money from Branch is an active Mpesa account, a Branch application on your smartphone, and a Facebook account. The decision on the application is usually made within a couple of hours, and the longer a user works with Branch, the more beneficial loan terms are available. Tala mobile loan This is a great choice to apply for instant Mpesa loans. According to the information published on the Tala website, 85% of Tala users get loan approval in less than ten minutes. So, it seems to be really fast. It is convenient and comfortable for users. To get the sum from kshs.2000 to kshs.4000 a user only needs an Mpesa account plus a Tala application. In the long run, the point is that Mpesa has really changed the approach to loans and interactions between the banks and their clients. Today, you don’t have to go to bank, wait in long queues, fill an incredible amount of papers and wait for the application approval for days in order to get a loan. With instant online loans in Kenya, you have a bank in your mobile phone. All you have to do to get your money is to press a couple of buttons, or rather to touch the screen. Read more: https://www.tuko.co.ke/271801-best-online-loans-kenya-2018.html#271801