Pesapap wallet APP
How-to-apply-for-family-banks-pesapap-loan

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.

Product description:

  •  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.                                                                        

Application conditions:

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.

Approval instructions

  • 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

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       

                                                               

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john-seo ck
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Pesa Plus Mobile Loan Apps supermarket is Kenya’s only platform to Access a variety of over 100 Faster, Easier, Cheaper Loan Apps in Kenya and borrow directly to your Mpesa

Pesa Plus
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Pesa Plus Mobile Loan Apps supermarket is Kenya’s only platform to Access a variety of over 100 Faster, Easier, Cheaper Loan Apps in Kenya and borrow directly to your Mpesa