How To Apply for a Loan on iPesa Loan App

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The iPesa loan app is a reliable mobile platform designed to provide quick and convenient access to financial assistance for individuals in Kenya. If you’re facing unexpected expenses or need a short-term boost, iPesa, with over 1 million downloads and a 4.5 out of 5-star rating, offers a streamlined solution to get the funds you need.

Benefits of Using iPesa

iPesa boasts several advantages that make it an attractive option for borrowers:

Quick and Convenient Application Process: Applying for a loan through the iPesa loan app Kenya is simple. You can complete the entire process on your smartphone, eliminating the need for lengthy visits to traditional lenders.
Flexible Repayment Terms: With flexible repayment terms, you can select a loan term that suits your financial situation. The shortest loan term is 91 days, while the longest is 180 days. Borrowers can choose between one-time repayment or monthly installments for added convenience.
Competitive Interest Rates: iPesa interest rates in Kenya range from 36% to 72% per loan, with no additional processing fees. This makes it one of the more transparent and affordable options compared to other loan apps in Kenya.
No Service Fees: Unlike some platforms that charge hidden fees, iPesa loans come with no service fees—borrowers only pay interest on the borrowed amount.
High Credit Limits: As you build a positive repayment history, your eligibility for higher loan amounts increases. Qualified borrowers can access up to Ksh 50,000, which makes iPesa loans Kenya ideal for scaling future financial needs.

iPesa Loan Details

iPesa offers loans ranging from Ksh 500 to Ksh 50,000.
You can choose between one-time repayment or monthly installments.

The repayment period for an iPesa loan is between 91 to 180 days.
The interest rates for an iPesa loan is a minimum 36% to a maximum 72%
iPesa charges no service fee for its loans.
You need to be at least 18 years old or above to qualify for an iPesa loan.

Applying for a Loan with iPesa

Follow these steps for the iPesa loan application process:

1. Register using your M-Pesa number.
2. Apply for the exact loan amount you need
3. Get approved and receive the money
4. Repay on time to get a credit limit of 50,000 Ksh

Read Also: The Top 10 Loan Apps With the Lowest Interest Rates in Kenya

How to Repay Your iPesa Loan

Go to the M-Pesa menu on your phone and select “Lipa Na Mpesa”.
Choose “Paybill” and enter the iPesa paybill number (618755).
Use your registered M-Pesa number as the account number.
Input the exact loan amount you’re repaying.
Enter your M-Pesa Pin and confirm the payment details before tapping “OK” to complete the repayment process.

If you fail to repay on time, iPesa loans Kenya report delinquent accounts to the First Central Credit Bureau, which may affect your ability to borrow from other lenders.

Privacy and Security

iPesa loan app Kenya ensures user data privacy and security. It uses data such as your SMS history only to verify your identity and assess your creditworthiness. All personal data is encrypted and never shared with third parties.