Emaworks loan app targets both young and old who are looking to finance thier emergencies in Kenya.
In this article we’ll explore Emaworks loan features like interest rates,loan limits and how to download and apply.
Emaworks Loans Features
Loan limits ranges from ksh 2500 to ksh 200,000 to be paid back in 30 days minimum.
A customer can pay back the accrued interest to extend the loan for another 30 days.
Emaworks loan interest rate is 15% per month.
Loan Requirements
To be eligible to apply for emaworks loans you must have the following qualifications;
- Be a Kenyan citizen aged between 18 years and 65 years.
- Have mobile money account – Mpesa
- Have access to the internet
How to Download App Apply For Emaworks Loans
Here are the steps to apply for Emaworks Loans in Kenya;
- Go to emaworks website or download emaworks loan app from Google play store
- Create your account by providing your personal details
- Confirm your mobile phone number via OTP
- Provide your financial details like Mpesa statements
- Let emaworks calculate your loan limit
- Once calculated, you’ll be able to apply
- Select the amount you need
- Select repayment duration, if past 30 days
- Confirm your loan application
- Submit the loan application
- Approved loan amounts will be disbursed directly to the borrower’s Mpesa account.
- Repay on time and repeat
Pros
- No paperwork is required
- 100% online via internet
- No collateral is needed
- No guarantors are required
- No CRB checks
- Fast loan in 5 minutes
- No late payment fees
Cons
- High interest rates
- Mpesa statements is required
- Short repayment duration
Conclusion
Emaworks loans in Kenya is good option to find short term loans when in financial emergency. However,just like any other loan apps, care should be exercised while getting loans to avoid loan dependence.