Okolea

Okolea is an app that provides instant loans to Kenyans through their mobile phones. Clients' loan limits are reviewed and increased every time they repay their loans on time.

Registration
Download the Okolea app, fill in the form, and submit. The app will redirect you to an easy to use home screen. You are then required to go to your profile and fill in other required details to enable us to serve you better.

Loan Limits
When you register with Okolea you get assigned a loan limit after your account is appraised which allows you to borrow instantly any amount equal or less than their assigned limits. Every time you repay your loan on time, you get a loan limit increase.

Interest Rates
Our interest rate is low at 0.5% per day to ensure that you enjoy our facility and repay without experiencing financial strain.

Okolea app is awesome and here is why;
Instant access to loans sent straight to your mobile phone.
You can borrow more than 1 loan at a time. *As long as you are within your loan limit.*
Ability to sort out emergencies when they arise no matter where you are.
Your information is secure and is not shared with third parties.
It is easy to use.

Loan Amounts: KES500 - KES500,000.
There is no minimum repayment period. One can pay any time after borrowing.
The maximum period for repayment is 1 year.
Service Fee: One time, 0.4% - 2.5% of the principal.
Interest Rate (P.A): 0.6% - 180% depending on the period taken to pay the loan. The earlier you pay the lower the interest charged.
Late Fees: Does not exceed the loan principal.

For example, a 61-day loan with principal KES1,000, the processing fee will be KES40, and interest will be KES 300 and the total amount due will be KES1,340.