Mobile phones have become an essential part of our daily lives. They have transformed the way we communicate, work, and socialize. As mobile phones have become more advanced and expensive, it has become increasingly difficult for people to afford them outright. This has led to the emergence of mobile phones on loans, which allow people to buy phones on credit and pay for them in installments. In Kenya, there are several places where one can get mobile phones on loans.
In this article, we will look at some of the best places to get mobile phones on loans in Kenya.
1. M-Pesa
M-Pesa is a mobile money platform in Kenya that is owned by Safaricom. It allows users to transfer money, pay bills, and buy goods and services using their mobile phones. M-Pesa also offers mobile phone loans, which are known as M-Shwari.
To qualify for an M-Shwari loan, you need to be an M-Pesa registered user for at least six months, have a good repayment history, and have a savings balance of at least Ksh. 200.
The interest rate on M-Shwari loans is 7.5% per month, and the repayment period is 30 days.
To apply for an M-Shwari loan, you need to dial *234# on your Safaricom line and follow the prompts. You can borrow between Ksh. 100 and Ksh. 20,000.
Once your loan is approved, it will be disbursed to your M-Pesa account, and you can use the money to buy a mobile phone from any authorized dealer.
2. KCB M-Pesa
KCB M-Pesa is a partnership between Safaricom and the Kenya Commercial Bank (KCB). It offers mobile banking services, including savings, loans, and insurance. KCB M-Pesa also offers mobile phone loans, which are known as KCB M-Pesa loans.
To qualify for a KCB M-Pesa loan, you need to be an M-Pesa registered user for at least six months and have a good repayment history.
The interest rate on KCB M-Pesa loans is 7.5% per month, and the repayment period is 30 days. To apply for a KCB M-Pesa loan, you need to dial *844# on your Safaricom line and follow the prompts.
You can borrow between Ksh. 50 and Ksh. 1,000,000. Once your loan is approved, it will be disbursed to your KCB M-Pesa account, and you can use the money to buy a mobile phone from any authorized dealer.
3. Tala
Tala is a mobile lending app that offers instant loans to people in Kenya. To qualify for a Tala loan, you need to be at least 18 years old, have a valid national ID, have a good credit score, and have an active mobile phone number.
The interest rate on Tala loans ranges from 5% to 15%, depending on the loan amount and repayment period.
To apply for a Tala loan, you need to download the Tala app from the Google Play Store, create an account, and submit your loan application. You can borrow between Ksh. 500 and Ksh. 30,000. Once your loan is approved, it will be disbursed to your M-Pesa account, and you can use the money to buy a mobile phone from any authorized dealer.
4. Branch
The branch is a mobile lending app that offers instant loans to people in Kenya. To qualify for a Branch loan, you need to be at least 18 years old, have a valid national ID, have an active mobile phone number, and have a good credit score.
have an active Facebook account. The interest rate on Branch loans ranges from 13% to 27%, depending on the loan amount and repayment period.
To apply for a Branch loan, you need to download the Branch app from the Google Play Store, create an account, and submit your loan application.
You can borrow between Ksh. 250 and Ksh. 70,000. Once your loan is approved, it will be disbursed to your M-Pesa account, and you can use the money to buy a mobile phone from any authorized dealer.
MUST READ: Download the Branch Loan App, Loan Application, Interest & Loan Limit
5. Stawika
Stawika is a mobile lending app that offers instant loans to people in Kenya. To qualify for a Stawika loan, you need to be at least 18 years old, have a valid national ID, have an active mobile phone number, and have a good credit score.
The interest rate on Stawika loans ranges from 10% to 15%, depending on the loan amount and repayment period.
To apply for a Stawika loan, you need to download the Stawika app from the Google Play Store, create an account, and submit your loan application. You can borrow between Ksh. 500 and Ksh. 50,000.
Once your loan is approved, it will be disbursed to your M-Pesa account, and you can use the money to buy a mobile phone from any authorized dealer.
6. PesaZone
PesaZone is a mobile lending app that offers instant loans to people in Kenya. To qualify for a PesaZone loan, you need to be at least 18 years old, have a valid national ID, have an active mobile phone number, and have a good credit score.
The interest rate on PesaZone loans ranges from 10% to 15%, depending on the loan amount and repayment period.
To apply for a PesaZone loan, you need to download the PesaZone app from the Google Play Store, create an account, and submit your loan application.
You can borrow between Ksh. 500 and Ksh. 50,000. Once your loan is approved, it will be disbursed to your M-Pesa account, and you can use the money to buy a mobile phone from any authorized dealer.
7. M-Kopa
M-Kopa is a mobile financing platform that allows people to buy solar-powered home systems, televisions, and mobile phones on credit.
To qualify for an M-Kopa loan, you need to be at least 18 years old, have a valid national ID, have an active mobile phone number, and have a good credit score.
The interest rate on M-Kopa loans is 17.8% per annum, and the repayment period is 12 months. To apply for an M-Kopa loan, you need to visit any M-Kopa shop or dealer and submit your loan application.
You can borrow up to Ksh. 20,000 to buy a mobile phone from any authorized dealer.
Conclusion
In conclusion, mobile phone loans have made it easier for people in Kenya to afford mobile phones. There are several places where one can get mobile phones on loans, including M-Pesa, KCB M-Pesa, Tala, Branch, Stawika, PesaZone, and M-Kopa.
When choosing a mobile phone loan provider, it is important to consider the interest rate, repayment period, and eligibility criteria.
It is also important to buy a mobile phone from an authorized dealer to avoid buying counterfeit or stolen phones.
'Want to send us a story? WhatsApp us on +254729 334 564 or Submit to NAIROBIminiBLOGGERS via our Email nairobiminiblogger@gmail.com'
Comments are closed.