Ever since the onset of mobile loans, the uptake of mobile credit has increased drastically.
This surge can be linked to the effortless procedure of acquiring such loans in comparison to conventional bank loans which require sheets of documentation before one is granted a loan.
Despite the simplicity of acquiring such mobile loans, borrowers are usually handed the short end of the stick in regards to interest rate charges and repayment duration period.
Statistically, very few mobile loan providers offer repayment periods of less than 30 days but majority cap it at that.
Below, we look at lenders who offer durations of more than 30 days!
Note: Some of these durations may ‘technically’ appear to be more than 30 days despite their skewed installment amounts.
Ubapesa Ltd is the provider of the Ubapesa loan app which offers loans ranging from Ksh.500 to Ksh.70,000.
The loans are repayable within 60 days. The Ubapesa loan app can be downloaded via the Playstore link
Opesa is a loan app service provided by TK ltd. The Opesa loan app loans range from Ksh.2000 to Ksh.10,000.
Their loan repayment is in two-installments i.e 60 days. The Opesa loan app can be downloaded via the Playstore link.
Okash is a loan app service offered by One spot Technology Ltd. The Okash loan app‘s minimum loan amounts are Ksh.2500 while the maximum is Ksh.50,000
The duration period is also in two-installments of either 91/92 days. The Okash loan app can be downloaded via the Playstore link.
Branch loan app is offered by Branch International with loan amounts of between Ksh.250 to Ksh.70,000.
Kuwazo is a loan app by Kuwazo capital Ltd. They offer loans ranging from Ksh.500 to Ksh.30,000.
M-Coop is a loan service from Co-operative bank that offers a cash salary loan of up to 30% of the salary amount which can later increase up to Ksh.200,000
The M-Coop cash loan can be repaid within a period of up to 90 days. M-Coop cash app can be downloaded via Playstore link.