In Kenya, mobile loan apps have revolutionized access to credit, making it easier for individuals to secure quick loans without the need for extensive paperwork or lengthy bank processes. One of the digital lending platforms gaining popularity is 4Coins Loan App, which provides instant mobile loans to Kenyan users.
If you are in urgent need of financial assistance, this guide will take you through everything you need to know about the 4Coins Loan App, including how to apply, loan limits, interest rates, repayment process, and customer support details.
What is 4Coins Loan App?
4Coins Loan App is a digital lending platform owned by Zagreus Limited, a company that provides short-term mobile loans to Kenyan borrowers. The app offers quick loans to individuals who meet their eligibility criteria, with funds disbursed directly to the borrower’s M-Pesa account.
Key Features of 4Coins Loan App
- Loan Limits: Borrow between KES 500 and KES 5000
- Repayment Period: 90 to 180 days
- Interest Rates (APR): 58.035% – 136%
- Repayment Method: Pay via M-Pesa Express inside the app
The app is designed to cater to users who need urgent cash for emergencies, bills, school fees, or other personal financial needs.
How to Apply for a Loan on 4Coins Loan App
Applying for a loan on 4Coins Loan App is simple and straightforward. Follow these steps to successfully apply for and receive a loan:
Step 1: Download the 4Coins Loan App
- The app is available on the Google Play Store for Android users.
- Search for “4Coins Loan App” and install it on your smartphone.
Step 2: Register an Account
- Open the app and sign up using your phone number (linked to M-Pesa).
- Set up a strong password to secure your account.
Step 3: Provide Personal Information
- Enter your full name, National ID number, and other necessary details.
- Ensure the details match those on your M-Pesa account to avoid loan application issues.
Step 4: Allow App Permissions
- The app may request access to certain phone data, such as SMS and contacts, to evaluate your creditworthiness.
- Grant the necessary permissions to proceed.
Step 5: Apply for a Loan
- On the app’s main dashboard, select the loan amount you wish to borrow.
- Choose a repayment period between 90 and 180 days.
- Review the interest rates and total repayment amount.
- Click “Apply” and wait for approval.
Step 6: Receive Loan in M-Pesa
- If your loan is approved, the money will be sent directly to your M-Pesa account within minutes.
- You will receive an SMS confirmation from 4Coins Loan App and M-Pesa.
Loan Repayment on 4Coins Loan App
To avoid penalties and maintain a good borrowing record, it’s important to repay your loan on time.
How to Repay Your Loan:
- Open the 4Coins Loan App on your phone.
- Go to the “Repay Loan” section.
- Click on “M-Pesa Express Payment” (this allows you to pay directly inside the app).
- Follow the prompts to complete the transaction.
- Once the payment is successful, you’ll receive a confirmation message.
4Coins Loan App Interest Rates and Fees
Before applying for a loan, it’s important to understand the interest rates and fees associated with borrowing.
- Annual Percentage Rate (APR): 58.035% – 136%
- Loan Repayment Period: 90 to 180 days
- No hidden fees – all costs are displayed before accepting the loan.
Example Loan Calculation:
If you borrow KES 2,000 for 90 days with an APR of 100%, the total amount payable may be around KES 3,000, depending on the exact interest rate applied to your loan.
4Coins Loan App Customer Care Support
If you encounter any issues, such as loan approval delays, repayment problems, or general inquiries, you can contact 4Coins customer support through the following channels:
Customer Care Contacts:
- Phone: +254 757 694 175
- Email: support@4-coins.com
The support team is available to assist with loan applications, repayment issues, and any other concerns you may have.
Pros and Cons of 4Coins Loan App
Pros:
✔️ Fast loan disbursement – Get money directly to your M-Pesa within minutes.
✔️ Flexible loan limits – Borrow amounts between KES 500 and KES 5000.
✔️ Long repayment period – Up to 180 days for repayment.
✔️ Simple application process – No need for collateral or extensive paperwork.
✔️ M-Pesa repayment – Easy and seamless repayment through the app.
Cons:
❌ High interest rates – APR can go up to 136%, making loans expensive.
❌ Low loan limits – Maximum loan amount is KES 5000, which may not be sufficient for some borrowers.
❌ Requires phone data access – The app may need access to your phone SMS and contacts for credit scoring.
Is 4Coins Loan App Legit?
Yes, 4Coins Loan App is a legitimate mobile lending platform in Kenya. It is owned by Zagreus Limited and operates like other digital loan apps in the country. However, borrowers should be cautious about the high-interest rates and ensure they repay loans on time to avoid penalties and negative credit records.
Final Thoughts
4Coins Loan App is a great option for individuals in need of quick and convenient loans. The simple application process, fast disbursement via M-Pesa, and flexible repayment terms make it a useful financial tool for short-term borrowing needs.
However, it’s important to borrow responsibly and ensure you can repay the loan within the given period to avoid additional costs. Always read the terms and conditions carefully before applying.
If you need assistance, don’t hesitate to contact 4Coins customer support via phone or email.
Have you used 4Coins Loan App before? Share your experience in the comments below!!
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