Seicei Cash is a new Tanzanian microloan app offering fast loans from TZS 60,000–700,000 with short repayment terms (1–3 months). Learn how to apply, repayment options (M-Pesa, Airtel Money, Tigo Pesa), fees, example costs, safety tips, FAQ and a quick comparison with other notable Tanzanian lending apps.
Introduction
Seicei Cash is a new mobile lending app in Tanzania that promises quick, small personal loans to cover emergencies and short-term cash gaps. With loan sizes from TZS 60,000 up to TZS 700,000, flexible short-term repayment (1–3 months) and mobile-money repayment options, the app aims to be convenient for salaried workers, traders, students and freelancers who need fast access to cash. According to the product details you provided, Seicei Cash advertises daily interest rates as low as 0.25% per day (roughly ~91% APR) with higher tiers that can reach around 141% APR depending on the product or borrower risk profile.
Key features at a glance
- Loan amounts: TZS 60,000 – 700,000
- Repayment period: 1 to 3 months (short-term)
- Interest / APR: from 0.25% per day (≈91% APR) up to product-dependent higher APRs (user-supplied: ≈141% APR).
- How to apply: Download Seicei Cash from Google Play Store → register → apply.
- Repayment methods: M-Pesa, Airtel Money, Tigo Pesa (via the app).
- Customer support: Email — customercare@seicei.com
How Seicei Cash works (step-by-step)
- Download & register — Install the Seicei Cash app from the Google Play Store and create an account with your phone number and basic details.
- Verify identity — The app may request an ID number, selfie or KYC details (common practice for digital lenders).
- Apply — Choose a loan amount within the offered range and submit the application.
- Instant decision — Many digital lenders use alternative data and automated scoring to approve small loans quickly; approved loans are typically disbursed within minutes.
- Repay — Use M-Pesa, Airtel Money or Tigo Pesa inside the app to repay by the due date. Late fees may apply if repayments are missed.
Fees, interest and an example calculation
Seicei Cash’s advertised 0.25% per day rate converts to a simple APR approximation:
- 0.25% per day × 365 days = 91.25% APR (approx).
(If the daily markup is higher for some products, APR can increase — e.g., ~141% APR corresponds to a daily rate ≈0.386% per day.)
Example (simple interest example for clarity):
- Loan: TZS 200,000
- Daily interest: 0.25% = 0.0025
- Term: 30 days
- Interest = 200,000 × 0.0025 × 30 = 200,000 × 0.075 = TZS 15,000
- Total repayment after 30 days = 200,000 + 15,000 = TZS 215,000
Important: Digital-lender pricing can be expressed in different ways (daily markups, flat fees, service fees, or compound interest). The example above uses simple interest for clarity — always check the exact contract in the app before accepting a loan.
Pros & cons (quick look)
Pros
- Fast access to cash for emergencies.
- Small loan sizes useful for short-term needs.
- Multiple mobile-money repayment options (M-Pesa, Airtel Money, Tigo Pesa).
Cons / Cautions
- Short-term loans with high APRs can be expensive if rolled over.
- Late repayment penalties (and negative records) can escalate cost quickly.
- Always confirm the total cost (all fees + interest) before accepting.
Safety, regulation & tips
- Check whether a digital lender is registered with the Bank of Tanzania (the regulator publishes lists of approved digital lending platforms). Using a regulator-approved lender reduces some risks—scammers and unlicensed operators exist.
- Keep screenshots of loan offers, terms and receipts of repayment.
- Don’t provide unnecessary permissions on your phone (avoid granting access to contacts or messages unless required and explained).
- Compare the total cost across lenders (not just the headline daily rate).
- If rates or repayment terms look unclear or unfair, contact customer support (Seicei Cash: customercare@seicei.com) and request a written loan schedule.
Comparison table — Seicei Cash and notable apps in Tanzania
| App / Provider | Typical loan range (approx) | Typical term | Notes |
|---|---|---|---|
| Seicei Cash (this post) | TZS 60,000 – 700,000 | 1–3 months | Repayment: M-Pesa, Airtel Money, Tigo Pesa. Support: customercare@seicei.com. (User-supplied product details.) |
| Branch | Varies by market; small personal loans | Short-term, depends on user profile | Branch operates across Africa; offers instant loans and banking-like products. Check local availability/terms. (Branch) |
| Fido (and similar pan-African lenders) | Varies | Short–medium term | Fido operates in multiple African markets offering personal/business lending; product details vary by country. (Fido) |
| PesaLink / Mkopo-type apps | Varies (some up to ~TZS 800k) | Short to medium | Several locally-branded “mkopo” apps and platforms are available; verify regulator approval and exact terms. Example PesaLink loan product listings exist for Tanzania. (Google Play) |
Frequently Asked Questions (FAQ)
Q: Who can apply for Seicei Cash?
A: Typically Tanzanian residents with a valid mobile number and national ID; the app may request KYC verification. Exact eligibility is in the app.
Q: How fast is approval and disbursement?
A: Most digital microloan apps aim for minutes to a few hours for approval and disbursement. Expect speed to depend on verification and mobile-money routing.
Q: What happens if I miss a repayment?
A: Late fees and daily penalties usually apply; missed payments may also affect ability to borrow again and could be reported to credit/registry services. Read the loan terms carefully.
Q: Can I repay early?
A: Many lenders allow early repayment (sometimes with reduced interest); check the app’s terms and any prepayment penalties.
Q: Is Seicei Cash regulated?
A: You should verify whether Seicei Cash is listed on the Bank of Tanzania’s register of approved digital lending platforms. The BOT maintains a register of approved digital lenders — use that list to confirm licensing.
Q: How do I contact support?
A: Seicei Cash customer email (per your info): customercare@seicei.com. Keep copies of correspondence and receipts.
Final recommendations
- Compare total cost (interest + fees) across lenders before borrowing.
- Borrow only what you can repay on time — short-term loans compound costs quickly if rolled over.
- Confirm regulator status via the Bank of Tanzania’s approved digital lenders list.
- Keep proof of payment and screenshots of terms.