How to Borrow a Loan from Mkopo Poa Loan App

How to Borrow a Loan from Mkopo Poa Loan App

MkopoPoa is an app for online cash funds for all citizens, with a credit limit of up to Ksh.50,000. Mkopo Poa offers loans mostly for Business Purposes.

Mkopo Poa Loan Particulars

Loan Amount:      Ksh.500 – Ksh.50,000

Loan Period:         91 days – 365 days

Max Loan Limit:   Ksh.80,000

Service Fee:          Ksh.95 – Ksh.99

Required age:        At least 18 years – 60 years

Interest rate of 25% per year (Maximum APR)

**For a representative example: If the loan amount is Ksh.2000 the total Interest should be 2000 Ksh times 25% = 500 Ksh. The processing fee is deducted from The Loan Provided.

Therefore, if paid Ksh.120 for the application, the total repayment amount will be Ksh. (2,000 + 500 – 120) = Ksh.2,380.00

To apply for Mkopo Poa Loans,

  1. Go to the Google Playstore and search for the MkopoPoa Loan App and install,
  2. Allow Mkopo Poa to make/ manage calls / read messages,
  3. Read the app’s privacy policy and click on ‘Continue’ to proceed to the next step,
  4. Click on ‘Sign Up’; enter your Safaricom phone number and tap on ‘Get Code’ to receive code via SMS
  5. Enter and confirm your 4-digit password, click on ‘Register’ and grant the app access to collect information to be used for eligibility and facilitation of loan disbursements
  6. On the next screen, click on ‘Authorization’ and fill in the required fields below:
  • Personal Information – your full name, gender, ID Number, Email Address, date of birth, alternative phone number or passport (optional)
  • Income Information – Education and income level, Marital and work status, housing status and home address, Loan purpose.