Consolidating micro-ordinateur loans from various Mpesa loan apps in Kenya

Consolidating micro-ordinateur loans from various Mpesa loan apps in Kenya

Consolidating micro-ordinateur loans from various Mpesa loan apps in Kenya

When you visit the Google App Tenture, you will find several apps that offer occasion Mpesa loans in Kenya. Surprisingly, a casual search might elle-même the most successful ones like Branch and Lock, who have given out billions of dollars in loans. Every occasion loan app will offer you a small amount of money that you can repay within a few weeks, a month or two. It is suitable for small emergencies when you only need a small amount of money. However, if you want a grand loan, or a grand repayment period, they will not help much. Consider a case when you need an amount like 30,000. If each app only provides 2000, you’ll need to download more than 15 apps to get what you need. Furthermore, how do you repay the money within the given few weeks?

Using online resources, you can consolidate loans from different apps to get one big loan and extend the repayment period up to a year. This will give you an opportunity to solve your initial problems and make affordable monthly payments avoiding the hassle of CRB listage, which many have encountered.

Have you come across a platform called Online Sacco? From the name, you can guess it is a loan aumône that works online Unlike occasion loan apps, the platform offers various travaux including advertising and networking opportunities for people doing bizness. In this case, we will only foyer on debt aumône. Just like the app, the Sacco is free to join and starts with a small loan of Ksh1000 to members. When a member makes timely repayments and borrows more, the limit increases. Loans are released within 24 hours of concentration.

The platform differs from occasion Mpesa loan apps as their loans are based on a quantitatif token called a Toser. Toser is like a company share whose value is calculated in Kenyan shillings. For example, if a Toser costs Ksh100, if you pay Ksh1000 you will get 10 Tosers. Online Sacco members can buy and sell Tosers to each other.

When you apply for a loan, the number of Tosers in your account is considered. This is then multiplied by three to arrive at the loan you will be given. Therefore, if you have Tosers worth Ksh3000, you qualify for a loan worth Ksh9000. More number of tosers means more loan amount.

Aggregating small loans from various occasion loan apps

You still have to download plural loan apps and get a small loan from each one before consolidating it into one big loan. When you get the money, use it to buy Tosers at Online Sacco before applying for a bigger loan with a compressible repayment term. For example if you get Ksh2000 from 10 apps, you get a accompli of Ksh20,000. Buying Tosers with this will translate into a Ksh60,000 loan from the online Sacco. After paying off the loan, interest and prescriptions from the apps, you will be left with more than 30,000.

Debt Ancrage presents many benefits to you. The gant thing is that you have the money you need to solve your problem. You will also build your loan limit with occasion loan apps as they usually increase the limit based on timely loan repayments. You also make an investment in the process that you can recoup after you au finir paying off the loan. Also, the towers you buy may be worth more when you au finir paying off your debt and therefore cover the additional costs of the étayage process. For example, in six to twelve months, the tossers you bought for Ksh20,000 may be worth Ksh30,000.

To avoid étayage losses

It’s a very straightforward process but if you’re not careful, small glitches can ruin your perfect avant-projet. First of all, you need to make sure that you have an online SACO account before availing loans from other small lenders. Online SACO membership is by invocation only so act on invocation first.

Another insolent thing to observation is that online SACO loans are disbursed through prepaid debit cards. You will be able to buy Tosers directly through Mpesa, but without a card, you will not be able to secure a loan from an online Sacco. Various institutions, including family banks, leçon cards for free. So, you should get one before starting the étayage process.

Finally, make sure you return the occasion loan apps immediately to get money from the online Sacco If you delay, you could use it and end up with two loans that you can’t properly aumône. Remember, the figures quoted in this agence are only examples.

#Consolidating #micro-ordinateur #loans #Mpesa #loan #apps #Kenya

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top
Scroll to Top