M-kopa Cash Loan Limits: How Much Can I Borrow

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M-Kopa
M-Kopa

M-Kopa, renowned for its innovative solar-powered products, extends its services to include cash loans for existing customers. If you’re curious about M-Kopa cash loan limits, eligibility, and the application process, read on.

What is M-Kopa? M-Kopa is a leading Kenyan fintech company that specializes in providing solar-powered products and financial services to individuals with limited income.

M-Kopa Cash Loan Limits: Key Information

  • Loan Range: M-Kopa cash loans offer a borrowing range of Ksh 3,000 to Ksh 15,000.
  • Determining Loan Limits: The loan limit is linked to the customer’s M-Kopa solar product and is applicable once more than half of the solar product cost has been paid.
  • Interest Rate: M-Kopa cash loans incur a monthly interest rate of 1.75%, ensuring affordability for borrowers.

Eligibility Criteria: To qualify for M-Kopa cash loans, individuals must be existing M-Kopa solar products customers who have paid over half of their solar product cost.

How to Apply for M-Kopa Cash Loans:

  1. Open the M-Kopa app on your mobile device.
  2. Navigate to the “Loans” tab within the app.
  3. Specify the desired loan amount.
  4. Click on the “Apply” button to submit your loan application.

Alternatively, you can apply for M-Kopa cash loans via USSD. Once your application is reviewed, M-Kopa will inform you of the approval status. Approved funds are then deposited into your M-Kopa account for flexible use.

Conclusion: Borrow Responsibly with M-Kopa Cash Loans M-Kopa cash loans offer a convenient and affordable solution for individuals seeking quick financial assistance. It’s crucial to borrow responsibly, considering your ability to repay. By leveraging M-Kopa’s financial services, customers can access the funds they need while benefiting from the company’s commitment to financial inclusion and sustainability.

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