After being approved for a loan from PesaPap, Family Bank will require you to repay it within 30 calendar days from the disbursement date. As highlighted earlier, the PesaPap loan comes with an interest of 6.62 % per month.
To access a loan from PesaPap, you must first open a PesaPap Wallet. To open a PesaPap Wallet, download the PesaPap App from Google Play or Dial *325#. After downloading the app, select Open Wallet Account from the menu and follow the simple instructions. Your phone number is your PesaPap Wallet Account number. Below is a simple guide on how to repay the loan via Mpesa.
How To Repay PesaPap Loan Via Mpesa
- Go to your Mpesa Menu
- Select Lipa na Mpesa
- Select PayBill
- Enter 222111 as the business number
- Enter your phone number as the account number using this format 2547********
- Enter the amount you want to repay
- You will receive a transaction confirmation message from Mpesa.
- Enter your Mpesa pin and press OK
PesaPap Wallet
PesaPap mobile loans must be repaid within 30 days. There are two options to repay your loan:
- Full Repayment – The total outstanding loan is repaid at once and in full
- Partial Repayment – The total outstanding loan is repaid in installments over the 30-day loan period
PesaPap Interest Rate
The PesaPap loan comes with an interest of 6.62 % per month.
PesaPap Loan Limit
You can access a loan of up to Ksh 50,000 from PesaPap.
Once done with this, proceed to the Pay Wallet Loan from the PesaPap wallet menu, select my Loans, then select Repay Loan.
Remember that if you do not repay the Loan in full within the time prescribed by the bank from the date of disbursement of the loan, the bank will automatically roll over any outstanding amount in respect of the loan and charge a facility collection fee of 5%. This may as well result in being listed by CRB.
You can contact Family Bank on 0703 095 000 if you have any further inquiries.
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