Mobile Loan (M-Loan)

Convenient short-term loans accessible via mobile devices, with strict repayment and default rules.

• Only one mobile loan at a time
• Maximum amount: Ksh. 300,000
• Interest rate: 4% per month
• Repayment period: 3 months (extra 1 month allowed in case of default)
• Defaulting members will be blacklisted from further borrowing
• Monthly deduction of Ksh. 50,000 from salary to recover defaulted amount
• Interest of 4% per month continues on unrecovered amounts until fully repaid