Looking for a reliable loan app? Download Rocket Pesa Loan app & avail loan within few minutes.
This articles explains the process to Download the rocket pesa app, Fill in loan application, Understand the underlying charges, repayment options and much more.
Rocket Pesa app provides cash loan service to eligible applicants. If you are looking for an application that can offer you loan simply by applying from your mobile, Rocket Pesa app is the solution.
What is a Cash loan
A cash loan is a short-term, unsecured loan that can be used to cover unexpected expenses or urgent bills. Cash loans are typically paid back within a few weeks, and can be applied for online or through a cash loan app.
For many people, cash loans are a convenient and easy way to access extra funds when they need it. However, it’s important to remember that cash loans should only be used for short-term financial needs, and not as a long-term solution. There are also some risks associated with taking out a cash loan, so it’s important to do your research before you apply.
If you’re considering taking out a cash loan, there are a few things you should keep in mind. First, make sure you understand the terms and conditions of the loan before you sign anything.
Rocket Pesa Loan App
Google Play Store users can access it by downloading it.
Why Rocket Pesa App is a reliable Cash Loan Service in Kenya
- Rocket Pesa’s app fixes you financial issues by providing you cash loan almost instantly (if all conditions are met)
- The user-friendly mobile app. Y
- ou can get a loan in a matter of minutes.
- With Rocket Peta, cash loan availing is extremely simplified
Download Rocket Pesa Loan App
- Launch Google Play Store on your phone.
- Enter the app’s name on the search bar (Rocket Pesa)
- Hit the search icon.
- Install the App and open it up
- Create your account (Sign up)
Loan Application on Rocket Pesa Mobile App
- Once you have successfuly completed the registration part, open up the app again
- Provide the asked information
- Give permissions to the app
- Submit the form
- You have now successfully appliedAfter a short evaluation, you loan will be either approved or rejected.
- Hopefully, when your loan application is accepted. You need to sign the loan agreement.
- After this the approved loan will be credited as soon as in 10 to 15 minutes
Rocket Pesa login
After downloading the app, follow the steps below to apply for an Rocket pesa loan:
- Open up the app
- Allow access to your phone’s data.
- Provide the phone number
- Verify the code and set an password
- From next time onwards, use the username and password to login
Requirements to Apply for Loan on Rocket Pesa
- Applicant has to be Kenyan resident
- Age of the applicant should be 18+
- Applicant must have a smart phone
Rocket Pesa Loan charges Explained
|90 – 365 days
|Ksh 5,000 – Ksh 50,000
|24% APR (yearly rate) or 2% monthly or 0.06575% per day
Understanding the charges with example
If the loan period is 90 days and the loan amount (principal) is Ksh 5,000, then the service fee for 90 days would be 0.0657534% per day x 90 days = 5.9178%.
The total service fee would be Ksh 5,000 x 5.918% = Ksh 295.90
The total cost expected to be repaid at the conclusion of the loan term (after 90 days) is. Ksh 10,295.90
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Rocket Pesa Loan repayment Process
When repaying your Rocket Pesa loan, follow the steps below:
- Open up the M-Pesa menu on your phone.
- Choose the Lipa na M-Pesa option.
- Select PayBill option
- Provide the Rocket Pesa PayBill Number
- Use your phone number as Account number
- Enter the amount you’re are going to repay.
- Key in M-Pesa pin.
- Press Ok to complete the transaction
What information Rocket Pesa Collects to Approve/Reject Loan
Following information is gathered:
- Registration details of the applicant including the mobile phone number you supplied during registration.
- Financial messages
- Name, date of birth, mobile phone number, ID card number, contact address, emergency contact information, marital status, educational history, income, etc.
- Rocket Pesa will obtain your device’s Android ID, IMEI, operating system, system version, device model, device name, wifi information, wifi name, resolution, network status, CPU, memory, and other information.
- Rocket Pesa contains a list of apps installed on your device, including installation time, update time, package name, and APP name.
- Collects your contact information and reads the photo’s title and time from your device.
Rocket Pesa Contacts
WhatsApp Number: 0110 428 835
Email – rocketpesa@editorial-team