If you’re looking for a quick, reliable, and affordable loan solution in Kenya, True Pesa is the answer. Whether you’re looking to finance your business, cover medical expenses, pay for educational fees, or handle unexpected financial situations, True Pesa provides a straightforward lending platform to meet your needs.
True Pesa offers transparent loan terms, flexible repayment schedules, and competitive interest rates, so you can get the financial help you need without the stress of high fees. Here’s everything you need to know about True Pesa loans, including the eligibility criteria, loan features, and how to apply.
Eligibility Criteria for True Pesa Loans
Before applying for a loan, ensure you meet the following eligibility requirements:
1. Kenyan Citizenship
You must be a Kenyan citizen to apply for a loan through True Pesa.
2. Age Requirement
You need to be 18 to 65 years old to qualify for a loan.
3. Stable Source of Income
Having a reliable and regular source of income is necessary to ensure that you can repay the loan on time.
Meeting these criteria will improve your chances of loan approval and provide access to a fast financial solution.
Loan Product Features
True Pesa offers a variety of loan options to cater to different financial needs. Here’s an overview of the features and loan terms:
Loan Amounts
- Kes 2,000 to Kes 80,000: Whether you need a small loan to cover an emergency or a larger sum for investments or purchases, True Pesa has a range of loan amounts to suit your needs.
Loan Tenure
- 91 days to 365 days: Choose a loan tenure that works best for you, whether you need a short-term loan or a longer repayment period.
Annual Percentage Rate (APR)
- 12% to 25%: The APR on True Pesa loans is competitive and varies depending on your loan amount and tenure. This ensures affordable rates for all customers.
Service Fee
- 2% to 8%: In addition to the APR, a service fee of 2% to 8% is charged based on your loan amount.
Loan Example
To give you a clearer picture of how the loan terms work, here’s an example:
If you borrow Kes 5,000 at an APR of 14% for a tenure of 180 days with a service fee of 5%:
- Interest: Kes 5,000 × 14% ÷ 365 × 180 = Kes 345
- Service Fee: Kes 5,000 × 5% = Kes 250
- The total amount to be repaid is KES 5,000 + KES 345 + KES 250, totaling KES 5,595.
As you can see, the total repayment amount is transparent and affordable, with no hidden fees.
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How to Apply for a Loan from True Pesa
True Pesa makes the loan application process simple and fast. To apply for a loan, follow these simple steps:
Step 1: Sign Up
Download the True Pesa app or visit their website to create your True Pesa account. This is a one-time process that helps you manage your loan applications.
Step 2: Provide Your Details
Fill in your basic personal and financial information to complete your profile. Ensure all details are accurate to help the system evaluate your loan eligibility.
Step 3: Apply for a Loan
Select the loan amount and loan tenure that best suits your needs. The app or platform will guide you through the rest of the process.
Step 4: Wait for Approval
Once you’ve submitted your loan application, True Pesa will assess your eligibility based on the provided information and grant approval. You will receive your loan details and confirmation.
Step 5: Receive Your Loan
Once your loan is approved, the funds will be disbursed to your M-Pesa account immediately, making it easy for you to access and use the money.
Contact True Pesa for Support and Assistance
If you have any questions, concerns, or need further assistance with your loan application, True Pesa provides various easy-to-access communication channels to help you. Their customer service team is responsive and dedicated to resolving any issues promptly.
Contact Options:
- Email Support:
- Email: [email protected]
- If you prefer to communicate via email, you can send your inquiries to the provided support email address. Whether you need help with loan details, application status, or repayment concerns, True Pesa’s customer support team will get back to you as quickly as possible.
- WhatsApp Support:
- WhatsApp Number: +254719276399
- For faster communication, you can reach out to True Pesa via WhatsApp. This platform is ideal for immediate responses, making it easy to connect with customer service for urgent queries. Whether you have technical questions about the app or need help with loan-related matters, True Pesa is ready to assist.
- Office Location:
- Address: Juju Road, Business Tower, Office 4, Ground Floor, Nairobi.
- If you prefer to meet in person, you can visit True Pesa’s office located in Nairobi. The team is available for face-to-face consultations to help resolve any issues or provide guidance on loan options and terms.
Why Contact True Pesa?
- Quick Response: True Pesa’s customer service team is committed to responding to your inquiries within a reasonable timeframe, ensuring that you get the assistance you need when you need it.
- Efficient Support: Whether you have questions about loan approval, repayment schedules, or the terms and conditions, True Pesa’s team is available to guide you through the entire process.
- Dedicated Help: The True Pesa support team is focused on ensuring that you have a seamless loan experience, from application to repayment, and will address any concerns or challenges you may face.
Conclusion
True Pesa offers flexible personal loans to meet the diverse financial needs of Kenyans. With transparent interest rates, affordable repayment terms, and a simple application process, True Pesa ensures that borrowing money is straightforward and stress-free. Whether you’re looking for a personal loan, business financing, or funds for an emergency, True Pesa provides a trustworthy solution that you can rely on.
Actionable Tips for Successful Loan Applications:
- Check your creditworthiness: Before applying, ensure that you have a stable income and a good credit history to increase your chances of loan approval.
- Select the appropriate loan amount: Only apply for the amount you need to avoid over-borrowing and to ensure manageable repayments.
- Ensure accurate details: Provide accurate personal and financial details to speed up the approval process.
- Repay on time: Timely repayments can help improve your credit score and make it easier to access larger loan amounts in the future.
By following these tips, you can improve your chances of securing a loan and make the repayment process easier.