How To Apply and Repay ipesa Loan Via Mpesa

This is a guide on how to apply for a loan from iPesa and repay it using Mpesa. It is owned by Xcredit which is located at Adlife Plaza along Chania Avenue in Nairobi. The lending app has been operating in Kenya since 2019 and currently has more than 1 million downloads on Google Play. iPesa offers quick loans from as low as Ksh 500 to Ksh 50,000.

iPesa Loan Registration and Application 

All you need is a smartphone ( It must be running on Android 4.4 and up)  a Kenyan Identification Card, and an MPESA registered phone number to start your loan application process. The first step is to download the app from Google Play then fill in the required information which will e required in the loan approval process. iPesa will use your phone data i.e Call logs, SMS logs including your Mpesa transactions history, GPS, and your current credit listing status to determine if you qualify for a loan.

It will take a few minutes to approve your loan.

iPesa Interest Rates 

iPesa charges an interest rate of 15%  with a repayment period of 14 days. Interest rates are determined by a number of factors, including your repayment history with iPesa and the cost of lending for iPesa.

Loan Repayment

How To Repay iPesa Loan Via Mpesa 

1. Go to your Mpesa Menu

2. Select Lipa na Mpesa

3. Select PayBill

4. Enter 192010as the business number

5. Enter the phone number which you received your iPesa loan with as your account number

6. Enter the amount you want to repay

7. Enter your Mpesa pin and press OK

8. You will receive a transaction confirmation message from Mpesa.

How to check iPesa Loan Repayment Plan

To view your repayment information, kindly click “My Account”, then choose “My Repayment”. You will be able to see your due date and the amount.

iPesa Loan Penalties 

If you fail to pay your loan within the agreed repayment period, a late fee of 2% per day will be applied to your loan. If the loan is not repaid for a period of 90 consecutive days 90 days of your default, you will be listed at the Credit Reference Bureau (CRB).  iPesa usually reports their defaulters to Metropol. This may affect your ability to borrow from other lenders.

You are always advised to pay your loan on time as it increases your limit.

iPesa Contacts

Phone: 0757 222979

Office Location: Adlife Plaza along Chania Avenue in Nairobi.