PesaYako is a leading mobile loan application in Tanzania that offers quick and reliable loans to individuals in need of financial assistance. Whether you need money for emergencies, business expansion, education, or personal use, PesaYako provides an easy-to-access solution. This article will guide you through downloading the app, applying for a loan, repayment methods, and other essential details.
PesaYako Loan Features and Benefits
PesaYako is designed to offer Tanzanians a hassle-free way to access credit instantly. Below are the key features of the app:
Loan Limits
- Borrow amounts ranging from Tsh 10,000 to Tsh 1,000,000
- Loan limits increase based on repayment history and creditworthiness
Interest Rates
- Annual Percentage Rate (APR) ranging from 12% to 36% per year
- Transparent interest rates with no hidden fees
Repayment Period
- Minimum repayment period: 90 days
- Flexible repayment plans to suit different financial situations
Eligibility Requirements
- Open to Tanzanian citizens
- Must be above 18 years old
- Valid National ID required
- Must have an active mobile wallet account (Mpesa or Tigo Pesa)
How to Download PesaYako Loan App
Getting started with PesaYako is easy and can be done in a few simple steps:
- Visit Google Play Store
- Open the Google Play Store on your Android device.
- Search for PesaYako Loan App in the search bar.
- Click on the Install button.
- Download and Install
- Wait for the app to download and install on your device.
- Open the app after installation.
- Sign Up and Register
- Enter your personal details, including name, phone number, and National ID.
- Verify your phone number through the OTP (One-Time Password) sent to your mobile.
- Set Up Your Profile
- Provide additional information, including employment status and mobile wallet details (Mpesa or Tigo Pesa).
- Ensure all details are correct to avoid any issues during loan application.
How to Apply for a Loan on PesaYako
Once registered, applying for a loan on PesaYako is a straightforward process:
- Log into the App
- Open the PesaYako Loan App and log in with your registered details.
- Select Loan Amount
- Choose the loan amount you wish to borrow (between Tsh 10,000 and Tsh 1,000,000).
- Choose Repayment Period
- Select a repayment plan that suits your financial capability (from 90 days and above).
- Review Loan Terms
- Check the interest rate, repayment schedule, and fees before proceeding.
- Submit Application
- Click on the Apply Now button and wait for approval.
- Loan Disbursement
- If approved, the loan amount will be sent directly to your Mpesa or Tigo Pesa wallet within minutes.
How to Repay Your PesaYako Loan
Timely repayment of your loan ensures you maintain a good credit score and qualify for higher loan amounts in the future. Here’s how to repay your loan:
- Open PesaYako App
- Log in to the PesaYako Loan App.
- Check Outstanding Loan Balance
- Navigate to the Repayment section to view your due amount and repayment date.
- Choose Payment Method
- Select Mpesa or Tigo Pesa as your preferred repayment method.
- Make Payment
- Follow the on-screen instructions to complete the payment.
- You will receive a confirmation message once payment is successful.
- Early Repayment Benefits
- PesaYako allows early loan repayment with potential benefits such as lower interest rates and increased borrowing limits.
Why Choose PesaYako Loan App?
PesaYako stands out from other loan providers in Tanzania due to its user-friendly interface, quick loan processing, and flexible repayment options. Below are some of the reasons why many Tanzanians prefer PesaYako:
- Instant Loan Approval: No lengthy paperwork; loans are approved within minutes.
- Convenient Mobile Wallet Integration: Direct disbursement and repayment through Mpesa and Tigo Pesa.
- Secure Transactions: Advanced encryption ensures your personal and financial data remains safe.
- Customer Support: Responsive customer service to assist with loan-related queries.
Contact Customer Care Support
For any inquiries or assistance regarding PesaYako loans, contact customer care support through:
- Phone: +255762186789
- Email: support@pesayako.co.tz
- Social Media: Follow PesaYako on Facebook and Twitter for updates and promotions
Conclusion
PesaYako Loan App is a game-changer in Tanzania’s financial sector, providing quick and accessible credit to eligible borrowers. With flexible loan limits, competitive interest rates, and an easy application process, PesaYako is an excellent option for those needing financial support. Download the app today, apply for a loan, and enjoy the convenience of instant mobile credit in Tanzania.