Thursday, June 13, 2024

Are there any fees for PesaX loans?

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Overview

PesaX is a financial technology company that provides personal loans to Kenyan users. When applying for a loan, many people worry about whether they will need to pay additional fees. In this article, we will explain in detail whether there are any fees for PesaX loans.

Are there any fees for PesaX loans?

Application fee

There are no fees to pay during the PesaX loan application process. Users only need to download the PesaX app and fill in personal information to apply for a loan. This makes applying for a loan more convenient and easier.

Interest rate

The interest rate for PesaX loans is determined based on each person’s credit score. When applying for a loan, users are required to provide personal information to help PesaX assess the user’s credit risk. Based on the user’s credit score, PesaX will provide users with corresponding interest rates. Users can check their expected interest rates through the PesaX app.

Late fee

If users fail to repay on time, they will need to pay late fees. This fee is calculated based on the amount and timing of outstanding payments by the user. Therefore, if users are unable to repay on time, please make sure to contact PesaX customer service as soon as possible to avoid additional late fees.

Summary

Overall, there are no fees to pay for the PesaX loan application process. The interest rate is determined based on the user’s credit score, while late fees are calculated based on the amount and timing of outstanding payments. Therefore, if you need a loan, PesaX is a convenient and affordable option.

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