PesaPap Wallet is a virtual account From FAMILY BANK that allows you to access full banking services on your mobile phone. With the new PesaPap wallet, you save, take a mobile loan, pay bills, purchase airtime and transfer funds.
- Loan Amount : 500 Ksh – 500,000 Ksh
- Terms : 1month
- Monthly Interest Rate: 6.62%
- Overdue Penalty : 5%
- Instant loan approval
- You can borrow a loan with a maximum duration of 1,2months.
The following details will be required:
- Full name as per ID
- ID number
- Mobile Phone Number
- You must have an active Family Bank account for a minimum period of 6 months. The higher the activity on your wallet account (deposits and withdrawals), the higher the chances of qualifying for a loan.
- You must not be listed on CRB for the last 3 months.
- Your wallet account must have an average account turnover of a minimum of Ksh 15,000/- for 3 months
How it works?
- From the PesaPap Wallet menu
- Select My Loans
- Select request loan
- Enter the amount you want to borrow and submit.
- Enter your MPIN to confirm details.
- The details of the loan (amount, facility fees and due date) will be displayed and an SMS confirmation will be sent to you.
- Average loan amount: 2000Ksh
- Only 30% approval rate
- loan duration 1 month
How do I pay my Loan?
There are two options to repay your loan:
- Full Repayment – Total outstanding loan is repaid at once and in full
- Partial Repayment – Total outstanding loan is repaid in instalments over the 30-day loan period
- Access the PesaPap Wallet APP.
- Select Pay Loan.
- You can pay from M-PESA .
PesaPap Loan Contacts
You can contact Family Bank on 0703 095 000 if you have any further inquiries.
PROS AND CONS:
- lender has also integrated investment goals in the Mobile app for periods between 3 to 12 months with interest.
- PesaPap is also available for iOS users and via USSD *325#.
- access full banking services, borrow mobile loans and a savings option for both Family Bank customers and non-customers.
- Bill payments kplc, water bills,etc
- Send or receive money from your Family Bank account to any local bank in real-time using your mobile phone.
- Air time purchase.
- Has incoporated both mpesa and airtel customers