Easy loan verification process
Easy loan verification process
Vote: (2 votes)
Program license: Free
Version: 1.1.4
Works under: Android
Vote:
Program license
(2 votes)
Free
Version
1.1.4
Works under:
Android
Pros
- Fast and straightforward verification process
- Flexible repayment terms
- Robust security measures
- Excellent customer service
- Convenient remote balance checks
Cons
- Only available to Tanzanian citizens
- Requires a wallet account with specific providers
- APR may be high depending on the loan amount
PesaX-Online Credit Loan Overview
PesaX-Online Credit Loan is a complimentary financial application created by PesaX. This digital solution provides a platform for individuals in Tanzania to secure loans without the need for traditional banking processes. It boasts a user-friendly interface, a straightforward verification procedure, a dedicated team of customer service professionals, and a strong commitment to data privacy, all of which contribute to its excellent credit services.
The lending platform allows borrowers to secure loans ranging from Tsh10,000 TZS up to Tsh100,000 TZS, with a flexible repayment scheme that permits any size of installments within a minimum three-month timeframe.
Functionality and Features
As an online lending service, PesaX-Online Credit Loan presents a dependable monetary solution for Tanzanian citizens. It offers a loan tenure of up to six months or 181 days, enabling users to secure loans between Tsh10,000 TZS and Tsh100,000 TZS swiftly, with approval times cut down to mere minutes after application completion.
This application integrates a remote verification and balance reconciliation function, allowing users to monitor their account balances at their convenience. Timely payments could potentially result in an increased credit limit. To utilize this application, users must be at least 18 years of age, possess a wallet account with Tigo, Airtel, or Vodacom, and be a Tanzanian citizen.
The Annual Percentage Rate (APR) varies between 12% and 26%, depending on loan amounts and other considerations. For instance, a Tsh10,000 TZS loan repaid over 365 days at a 14% interest rate would accumulate a total interest fee of Tsh1,400 TZS. This results in a total repayment sum of Tsh11,400 TZS.
Final Thoughts
PesaX-Online Credit Loan is a reliable online lending service specifically designed for Tanzanian citizens seeking a convenient and non-banking method of borrowing money. It provides a dedicated customer service team, robust security measures to safeguard user accounts from fraudulent activities, and flexible loan tenure options. Its repayment period is also satisfactory, making it a commendable choice for potential borrowers.
Pros
- Fast and straightforward verification process
- Flexible repayment terms
- Robust security measures
- Excellent customer service
- Convenient remote balance checks
Cons
- Only available to Tanzanian citizens
- Requires a wallet account with specific providers
- APR may be high depending on the loan amount
