UbaPesa

UbaPesa is a lending platform that provides non-recurring personal loans with a repayment period of 61 – 90 days. The borrowing process involves a minimal loan facilitation/access fee of 10% and an interest rate of up to 15%, applicable from the 14th day to the 60th day. Beyond the 60th day, no additional interest is charged. Late repayments incur a 10% penalty on the outstanding amount after the 65th day, with no further fees or penalties imposed after the 90th day.

Getting Started

1. Download the UbaPesa app.
2. Register using your Mpesa Number.
3. Get approved and receive your loan.

Loan Breakdown Example

• Borrowed Amount: Ksh 1000
• Repayment Period: 61 - 90 days
• Access Fee (10%): Ksh 100
• Interest Rate (15%): Ksh 150
• Net Amount: Ksh 885
• Total Payment Due: Ksh 1150
• APR: 90% (not applicable as maximum period is 90 days)

Privacy of User Data

UbaPesa collects user data to verify identities and evaluate credit profiles for loan qualification purposes. The information collected includes telephone number, name, ID number, email address, call logs, SMS logs, data from credit reference bureaus, and phone IMEI. User data is strictly confidential and not shared with third parties, except in cases where necessary for loan recovery from defaulters.

For detailed terms and privacy policy, refer to the following link: UbaPesa Terms and Conditions.