As a result of the ever increasing number of digital loan defaulters in Kenya through lack of funds, a section of ‘newer’ digital lenders have decided to mitigate the situation through the implementation of various security measures.
While the majority of loan apps require only the borrower’s national id number and birth-date during registration, some lenders insist on the submission of a photo image capturing both the front and back of one’s ID card.
Besides the privacy concerns attributed to granting loan apps access to sensitive phone data, the risk is further heightened upon exposing one’s national ID card details to UNVERIFIED third parties which may at times result in identity theft.
Below, we look at some of the loan apps that require photo of ID during registration before proceeding to the loan application phase.
Loan Apps That Require Photo Of ID During Registration
CreditKes was officially released on the Playstore on 12th Dec 2021 and has since garnered over 50,000+ downloads.
CreditKes starting loan amount is Ksh2,000 to be repaid after 7 days with a 30% interest rate.
Cashsea was released on the Playstore on 3rd Jan 2022 and has received over 50,000 downloads ever since.
Cashsea loans start from Ksh2,000 with a duration period of 7 days at 30% interest rates.
Kesmall was released on the Playstore on 10th Nov 2021 and since then has been downloaded over 100,000 times.
Kesmall offers loan amounts as from Ksh2,000 repayable within 7 days at 30% interest rate.
TifiSlice was released on 24th Dec 2021 and has achieved more than 10,000 downloads since its release.
TifiSlice offers 7 day loans starting from Ksh2,000 to be repaid at 30% interest.
Categories: Loan Articles