How to get a Loan from Uba Pesa
Uba Pesa Loan offers loans ranging from Ksh 500 to Ksh 50,000 with a flexible repayment period of 61 to 90 days. Approvals are instant, and interest rates reach a maximum 15% from the 14th day. To check your limit and apply, download the app here. Loans are unsecured, making the process hassle-free.
Disbursement Details:
How to Access/Register for the Loan
To access Uba Pesa Loan:
- Download the Uba Pesa app from the Google Play Store.
- Register using your M-Pesa number and create a PIN.
- Get approved and receive the loan directly to your mobile wallet.
How to Apply for the Loan
- Open the Uba Pesa app.
- Log in with your phone number and PIN.
- Check your loan limit on the dashboard.
- Enter the desired loan amount and select the repayment period.
- Submit your application.
- Receive approval instantly and get funds disbursed to your M-Pesa.
Total Cost Breakdown (Loan Fees):
- Processing Fee: 2% of the loan amount.
- Loan Facilitation/Access Fee: 10%.
- Interest Rate: Applicable from the 14th day up to the 60th day, up to a maximum of 15%.
- Insurance: 1% of the loan amount.
- Withdrawal Fee: As per M-pesa charges.
- Late Payment Penalty: 10% of the overdue amount, charged on the 65th day.
- No more interest is charged after the 60th day.
- No more fees or penalties will be charged after the 90th day.
Repayment Details:
Repaying your Uba Pesa Loan is simple and flexible. Repayments are due within 61 to 90 days and can be made in multiple installments or a single installment based on your capacity. Early repayment is allowed with no penalties and can improve your credit limit. You can repay through:
- Mobile money transfer (e.g., M-Pesa).
- Bank transfer via Uba Pesa app.
Eligibility Requirements:
To qualify for a Uba Pesa Loan, you must:
- Be a Kenyan citizen.
- Be at least 18 years old.
- Have a valid national ID.
- Own a registered mobile number.
- Have a regular income source.
Representative Example of Loan Costs
Here’s a breakdown of the costs associated with a Branch loan:
| Loan Amount | Loan Cost (Fees + Interest) | Total Amount to Repay |
| Ksh 1,000 | Ksh 250 | Ksh 1,150 |
| Ksh 5,000 | Ksh 1,250 | Ksh 6,250 |
| Ksh 10,000 | Ksh 2,500 | Ksh 12,500 |
Example Breakdown for Ksh 1,000 Loan:
- Borrowed Amount: Ksh 1,000
- Repayment Period: 61–90 days
- Access Fee: 10% (Ksh 100)
- Interest Rate: 15% (Ksh 150)
- Net Amount: Ksh 885
- Total to Pay: Ksh 1,150
- APR: 90% (not applicable as the maximum period is 90 days)
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