Paylend

Paylend provide instant mobile loans via M-Pesa for amounts from KES500 to KES 50,000

Paylend makes it easy for you to obtain a loan from your smartphone.

How do I proceed?

*Download and install the Paylend App on your smartphone

*Launch the App and register by providing your personal details

*View your loan limit and submit your loan request

Benefits

-We don't require any paperwork or security/guarantors but just your next of kin

-You can request a loan from any physical location without having to travel

-Loan applications are processed within a short time

-You receive the exact loan amount you apply for

Loan repayment:

- Loan repayments are made via M-Pesa and are applied instantly.

- You may repay your loan before the due date and in instalments of any amount.

- Excess payments will be automatically applied to your future loan requests.

- You can request another loan immediately you settle the current one.

Details

Tenure: 63 days to 150 days

Loan Amount: from Ksh.500 to Ksh. 50,000.

Maximum APR is 52%

For example, for a loan processed with a principal amount of 10,000, a 90 - day loan payment term and an interest of 12%. The total interest charges would be Ksh. 1,200, the total amount due would be Ksh.11,200

i.e. ((12/100) x 10,000) +10,000=11,200