How to Easily Borrow Ksh 40,000 with InstarCash

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Are you in urgent need of a quick loan? InstarCash offers a fast and convenient way to access up to Ksh 40,000 straight from your mobile phone. With a simple application process and quick disbursement time, InstarCash is becoming a go-to option for many Kenyans seeking emergency financial support.

Getting Started with InstarCash

To borrow with InstarCash, start by downloading the loan app from the Google Play Store. Before proceeding, users are advised to carefully read the privacy policy and service terms. Once you agree to the terms, you can register using your mobile phone number.

After registration, you will be required to fill in your basic personal information. InstarCash then uses an intelligent evaluation system to determine the most suitable loan product for you. Once the evaluation is complete, you can submit your loan application, and if approved, the money will be disbursed directly to your account within just 15 minutes.

Loan Amounts and Terms

InstarCash offers loan amounts ranging from Ksh 5,000 to Ksh 40,000. The repayment period starts from 90 days and can extend up to 12 months, depending on your creditworthiness. The InstarCash annual interest rates (APR) range from 36% to 72%.

Loan Example Breakdown

For first-time users, InstarCash provides an illustrative example. If your loan application is approved for Ksh 40,000 with a loan term of three months and an interest rate of 53.4% per annum, here’s what the loan would look like:

Interest for 3 months: 40,000 × 53.4% ÷ 12 × 3 = Ksh 5,340
Amount disbursed to borrower: Ksh 34,660 (after deducting the interest upfront)
Total repayment at the end of the term: Ksh 40,000

Notably, there are no hidden fees or service charges for first-time borrowers. However, the interest is deducted upfront, and the full loan amount must be repaid by the end of the loan term.

Read: The Top 10 Registration Fee-Free Loan Apps in Kenya

Build Your Credit Limit

InstarCash also encourages users to repay their loans on time. Timely repayments help you build a strong credit history, which in turn can increase your credit limit and potentially lower your interest rate for future loans.

Who Can Apply for an InstarCash loan?

The application is open to individuals aged 18 years and above. The InstarCash app is available for Android users with devices running version 5.0 and above. With over 1 million downloads, InstarCash is proving to be a popular choice for digital lending in Kenya.