Do you require money right away? Do you have a payment or expense that needs to be paid but not enough money to do so? The answer is the MBKash – Best Fast Credit Loans app!
It’s a short-term loan app that provides immediate loans to your account, your M-PESA account, or other specified accounts.
We’ll investigate more closely at the MBKash features, lending conditions, and advantages in this blog post.
Features
The quick and simple lending app MB-Kash provides its customers with a number of advantages. Here are some of the main characteristics and advantages:
5 minutes to have money deposited into your account (Eazzy banking)!
individual conversation with customer service through the loan app.
a quick and easy application and registration process.
When you visit one of our branch locations, cash loans are accessible.
Term of Loan
Depending on the nation, MB Kash has different loan conditions. The loan conditions for Kenya, Nigeria, South Africa, Mexico, and the Philippines are listed below.
Kenya
- Loan Amount: 1,500 to 100,000 Kenyan shillings.
- The shortest and longest tenures are 61 and 365 days, respectively.
- Rate of Interest: 12.5% annually.
- Processing fees range from 5% of the principle amount to 6% of the principal, with a minimum of 6% and a maximum of 6%.
For instance, the processing charge and interest would both be kes 150 if you took out a 61-day loan with a kes 3,000 principal amount.
The monthly payment would be kes 1605.82, and the total amount owed would be kes 3211.64.
- Nigeria Loan Amount: 5,000 to 350,000 Naira.
- The shortest and longest tenures are 61 and 365 days, respectively.
- Rate of Interest: 12.5% annually.
- Processing fee: 5% of the principle, with a minimum of $200 and a maximum of $2,000 per transaction.
- For instance, the processing charge and interest would total 500 and 205.48 respectively if you took out a 61-day loan with a principal of $10,000. The monthly payment would be 5352.74 and the total amount owed would be 10705.48.
S. Africa
- Loan amount: between R230 and R15,000.
- The shortest and longest tenures are 61 and 365 days, respectively.
- Rate of Interest: 12.5% annually.
- Processing fees range from R10 to R100, or 5% of the principle amount, whichever is greater.
For instance, the processing charge and interest for a 61-day loan with a principal of R500 would be R25 and R10.27, respectively.
The monthly payment would be R267.64, and the total amount payable would be R535.27.
Terms of Loan in Mexico
- Loan amount: between $300 to $19500.
- The shortest and longest tenures are 61 and 365 days, respectively.
- Rate of Interest: 12.5% annually.
- Processing fees range from $12 to $120 and are based on 5% of the principle amount.
- For instance, the processing charge would be $50 and the interest would be $20.55 if you took out a $1000 loan with a 61-day term.
$1070.55 would be the total amount owed, and $535.28 would be the monthly payment.
Terms of Loan in the Philippines
Loan Amount: $500 to $30,000 maximum.
The shortest and longest tenures are 61 and 365 days, respectively.
Rate of Interest: 12.5% annually.
A processing fee of 5% of the principle, with a minimum of $60 and a maximum of $600, is charged.
For instance, the processing charge and interest would total 250 and 102.74 respectively if you took out a 61-day loan with a principal of 5000.
5252.74 would be the total amount owed, and 2626.37 would be the monthly payment.
Conclusion
MB Kash is a simple and practical loan software that provides quick loans to people who need money right away.
MB-Kash makes it simple to receive the money you require in just a few minutes thanks to its simple registration process and rapid loan approval.
However, it’s crucial to thoroughly evaluate the loan terms and make sure you can afford to repay the loan on time before taking out any loan.
Make sure to carefully read the terms and conditions, and don’t be afraid to ask for help from the MBKash customer service team if you need it.