Loan Apps That Deduct Interest Rate Upfront Before Disbursing Loans

deduct interest rate

Mobile loans are gradually morphing into a necessity rather than an option, due to the degrading state of the Kenyan economy that has pushed majority of its citizens to rely on mobile credit for their sustenance.

Despite their popularity in disbursing quick emergency loans depending on the borrower’s loan limit, some do not actually pay out the exact amount applied for. Rather, they deduct the interest rate first before sending the balance to the borrower.

So in case you are in a financial crisis and require the exact amount that you are applying for, it is best to keep off the below apps to avoid disappointment.

1. Okash

Okash loan app is offered by OneSpot Technology and issues out loans of between Ksh 2500 to Ksh 50,000 at an interest rates of between 15% to 23% depending on the amount and repayment duration.

So, in-case you apply for Ksh 2,500 for 15 days at 15% , you will receive Ksh 2,125.

2. Opesa

Opesa loan app is offered by TK limited with loan amounts starting from Ksh 2,000 to a maximum of Ksh 30,000 at interest rate of 16.8%

For example, you apply for Ksh 2,000 at 16.8%, you will receive Ksh 1,664.

3. Ubapesa

Ubapesa loan app is provided by UbaPesa Ltd offering amounts between Ksh 500 – Ksh 70,000 at interest rates of between 10% – 15%  depending on repayment days.

If you apply for Ksh 3,000 at 15%, you will receive Ksh 2,550.

4. Bayes

Bayes loan app is provided by Pi Capital with loan amounts of Ksh 800 – Ksh 30,000 at 5-15% interest rate depending on date of repayment chosen.

For example, you borrow Ksh 6,000 at 10% , Ksh 5,400 will be disbursed to you.

5. PesaFlash

PesaFlash is provided by firch international company limited with loan limits of between Ksh 2,000 to Ksh 50,000 at interest rate of 25%

In case you intend to borrow Ksh 15,000 at 25%, you will receive Ksh 11,250 for your troubles.

6. Zash loan

Zash loan is offered by Kopa Kash at 20% interest rate of loans ranging from Ksh 500 – Ksh 50,000 meaning that if you borrow Ksh 9,000, you will receive Ksh 7,200

Does the upfront deduction bother you or is it ok? Leave a comment below.

Categories: Loan Articles

3 replies

  1. Most of those loans give a period of 2 wks for payments to be made. That is. Short period and problematic


  1. This Loan App Will Instantly Increase Your Limit Up-to Ksh30,000 If You Repay Their Loans Successfully 5 Times. – Konvigilante
  2. This Loan App Will Instantly Increase Your Limit Up-to Ksh30,000 If You Successfully Repay Their Loans 5 Times. – Konvigilante

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