Do I need collateral to apply for mpesa cash loan in Kenya?
Mpesa is a well-known solar solution provider in Kenya and also provides cash loans to customers, making it easier for people to purchase solar systems. Many people may ask if collateral is required when applying for a MPESA cash loan. This article will provide a detailed introduction to this P>
Requirements for applying for MPESA cash loan
In order to apply for a MPESA cash loan, the following conditions need to be met first:
- Over 18 years old
- Having a stable source of income
- Residing within the scope of mpesa services
- Possess valid identification documents and mobile phone numbers
Characteristics of mpesa cash loans
The characteristics of mpesa cash loans are as follows:
The loan amount ranges from 1000 to 50000 Kenyan shillings
The loan term is 1 to 12 months
The interest rate ranges from 20% to 35%
FairKash+: online cash loan
5.0 (1 million +)
Security Status
for Android
Loans can be used to purchase solar energy systems, household appliances, and other consumer goods
The repayment method is automatic deduction or manual repayment
collateral requirements for mpesa cash loans
MPESA cash loans do not require any form of collateral. This means that even if you don’t have property, cars, or other valuable assets, you can still apply for a MPESA cash loan P>
How to apply for MPESA cash loan
Applying for a MPESA cash loan is very simple. You can apply through one of the following methods:
- Call mpesa’s customer service hotline
- Go to the mpesa service center to apply
- Apply for mobile applications using mpesa
During the application process, you need to provide personal information, sources of income, and other necessary information. If your application is approved, you will receive the loan within 24 hours P>
MPESA cash loan is a fast and convenient borrowing method that can be applied for without collateral. As long as you meet the application requirements, you can easily obtain the necessary funds to purchase solar systems and other consumer goods P>
FairKash+: online cash loan
5.0 (1 million +)
Security Status
for Android
FairKash+:
online cash loan
for Android
5.0 (1 million +)
Security Status