Okolea Loan App

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Okolea loans are offered by a company registered as Okolea International.

Their loans range from Sh600 to Sh250,000 offered between 2days and 28days with an interest.

Okolea's loan interest starts from 5% to 15% depending with the amount borrowed and duration granted.

A customer can increase their loan limits by constantly borrowing and repaying their loans on time. If a loan is defaulted or repaid late, a limit decreases.

Okolea loan allows its users to receive money straight to their phones within minutes if all factors are constant. That is, there are no delays with the mobile money services etc

Requirements to get a loan

• An android smartphone
• A registered Safaricom number
• National Identification number
• Internet access

How to download Okolea loan app

• Visit google play store on your android phone
• Search for 'Okolea' loan app, ensure you select the one with an authentic Okolea logo
• Click on install and let the app download
• Once it has downloaded, click on open to access the app

With the app downloaded on your phone, open the app and register for an account in order to get/access your loan by following the steps below;

• Enter your first and second name, where indicated
• Enter your ID number
• Input your mobile number(must be registered)

After following the above steps, agree with Okolea terms and conditions. By agreeing with the condition, you grant Okolea access to your contact list, text messages, location, storage, camera and call log.

With everything in check, you will received a confirmation 4-digit code from Okolea in order to complete your registration.

How to get Okolea loan

• Open Okolea app on your phone
• Click on get a loan
• Select the amount you'd like to borrow (this is determined by your available limit)
• Choose a convenient date that you will be able to repay the loan and click on submit
• If your loan is approved, you will receive a confirmation message from both Mpesa and Okolea. If rejected, you will receive a message of the same from Okolea

Advantages of Okolea Loans

• Okolea loan app interest rate starts from as low as 5%
• A loan borrowed can be repaid in installments ( two times)
• No guarantor or collateral needed to access a loan
• A customer receives their loan to their phone within minutes of application

Disadvantages of Okolea Loans

• No constant interest, the higher your loan and repayment duration, the higher the interest
• Once a registration is complete, Okolea gets access to your contact list; your contacts may be called/texted in he event that you default a loan
• Late loan payments reduces your limits
• Defaulting a loan can lead to being listed with the CRBs

How to repay Okolea loans using Mpesa

• Go to SIM tool kit on your phone
• Click on Lipa Na Mpesa, and select on Paybill
• Enter Okolea's Paybill number - 245316
• Enter account number - your registered phone number
• Enter amount you'd like to pay
• Input your Mpesa PIN and confirm
• Click send

You will receive a confirmation message from both Mpesa and Okolea.

 

[Ngima ya Mûhîa]

Ghaseer