Pricing
One flat rate for the term you choose. It is taken before the money is sent; you repay the principal only. Repay in full early and the interest for the days you did not use comes off.
Interest by term
| Term | First loan | After 1 repaid on time | After 3 repaid on time |
|---|---|---|---|
| 20 days | 23% | 17% | 14% |
| 40 days | 38% | 29% | 24% |
| 61 days | 48% | 38% | 33% |
Risk-based pricing: your first loan costs the most, because we do not yet know how you repay; the price falls after the first loan repaid on time and again after three. Each rate works out at about the same cost per day on the money you actually receive.
Loans from KES 1,500 in steps of KES 50, up to your limit. On 61 days a new borrower may take up to 50% of their limit; the full limit opens after 10 loans repaid on time.
Fees
No fees: interest is the only charge, and Niazime pays the M-Pesa charge for sending you the money.
Maximum effective annual rate
420%, which is a KES 1,500 loan for 20 days with all costs annualised. You never pay that figure; you pay the flat amounts above, once. It is shown so you can compare us with anyone else honestly.
Representative examples
| Loan | You receive | You repay | Total cost | Annualised |
|---|---|---|---|---|
| KES 3,000 for 61 days | KES 1,560 | KES 3,000 | KES 1,440 | 287% |
| KES 1,500 for 20 days | KES 1,155 | KES 1,500 | KES 345 | 420% |