Get a loan on AfrikaLoan Kenya App (Updated 2019)

AfrikaLoan Kenya: As the mobile loans market in Kenya grows, new mobile lenders have been setting camp to offer loans.

The latest among these mobile lenders is the AfrikaLoan Kenya App. The app is now offering loans with borrowing limits of up to Sh. 50,000. You will be able to grow your loan limit by paying back your loans in good time.

To apply the loan, you will only need to install the app on your mobile phone. You can do this by downloading the app from your phone’s Google Play Store.

AfrikaLoan currently offers loans from Sh. 500 to Sh. 50,000. Interestingly, the new app is offering loan repayment terms of up to 52 weeks. This also means that you borrow money on this mobile lending app, you can make your repayments earlier than the repayment due date.

The annual interest rates for borrowing money on this app range from 10 per cent – 182.5 per cent with an equivalent monthly interest of 0.8 per cent-15.2 per cent, depending on your loan option.

There are no extra fees or commissions and no collateral necessary. Interest rates are determined by a number of factors, including your repayment history and the cost of lending for AfrikaLoan. Standard SMS, payment system (M-Pesa), commission and data charges by your mobile carrier may apply.