Five Best Loan Apps in 2023 With Low Interests
Here is a list of Five Best Loan Apps in 2023 With Low Interests:
1.Hustler fund
The Hustler fund is a digital financial inclusion initiative designed to improve financial access to responsible finance for personal, micro, small, and medium-sized enterprises (MSMEs) in Kenya.
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The Hustler fund is important because it provides access to responsible finance for personal, micro, small, and medium-sized enterprises (MSMEs) by innovating, developing, and deploying bottom-of-the-pyramid financial services and products that are affordable, accessible, and appropriate for the unserved and underserved persons, including credit, saving, insurance, pension, and investment products.
Register and access the Hustler Fund on any mobile network by dialing *254# or via the mobile app
2.Fuliza
Fuliza is an M-Pesa service that allows you to overdraw on your M-Pesa account when you have insufficient funds to complete a transaction. Customers can activate the service by dialing *234# and selecting Fuliza M-PESA.
3.KCB M-PESA Loans
KCB M-PESA loan is a mobile loan service created through a partnership between the Kenya Commercial Bank (KCB) and Safaricom’s M-PESA.
KCB M-PESA loan is a mobile loan service created through a partnership between the Kenya Commercial Bank (KCB) and Safaricom’s M-PESA.
The loans are accessible from the Safaricom SIM toolkit, the MySafaricom app, and the recently launched M-PESA app.
4.M-Shwari
M-Shwari is a savings and loan service that enables M-PESA customers to;
Save as little as Kshs. 1, and access credit from Kshs. 1,000.
Earn interest of up to 6.3% p.a. on your savings balance.
Save for a fixed period of time
Access loans instantly, credited to your M-PESA account from a minimum of Kshs. 1,000 and up to Kshs. 1million account charged at 9% Being Loan Fees of 7.5% and 1.5% Excise Duty. Excise duty is deducted from the loan amount to be sent to your M-PESA.
5.The final one is Faraja credit
Faraja is a Safaricom service in partnership with EDOMx that makes it possible for Safaricom customers to pay for goods and services on credit using Lipa Na M-pesa. You can buy products ranging from Ksh. 20 to Ksh, 100,000, and then pay for them later.
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