Newsletter Subscribe
Enter your email address below and subscribe to our newsletter
Opesa, a product of Tenspot Kenya Limited, has emerged as a dependable mobile loan app in Kenya. Situated at Apollo Center along Ring Road, Parklands, Opesa has garnered over 500,000 downloads on the Play Store since its inception earlier this year.
It offers loans ranging from Kenya Shillings 500 to 30,000, establishing itself as a trusted micro-financier.
The Opesa mobile loan app, accessible on the Google Play Store, boasts a 4.1 out of 5-star rating with more than 1 million downloads and 48,000 reviews.
In this article, we are going to see how to get started with Opesa Loan App as well as securing loans and repaying said loans.
Also read: M-shwari Soft Loan Requirements
To be eligible for Opesa loans, you must meet the following criteria:
Also read: Tala Loan app: How to Apply for a Loan
Opesa Loan Details:
Opesa provides loans ranging from KSh500 to KSh500,000, with an interest rate set at 16.8% and a repayment window spanning 65 to 91 days.
Additionally, Opesa imposes a one-time service fee, varying from KSh100 to KSh600. For instance, loans with a 91-day repayment period incur an 8.9% service fee. As an illustration, for a loan of KSh1,000, the service fee amounts to KSh89, making the total due amount KSh1,089.
Also read: Request Loan: How to Apply for a Personal Loan in 2024
Registration Process Using the Opesa App:
Steps to Apply for Your First Opesa Loan:
Here’s the revised text:
To repay your loan through M-Pesa, follow these steps:
It’s important to note that failing to repay your loan within the agreed period will result in a fee of 2.4% per day on your outstanding balance. If the loan remains unpaid after 20 days, your details will be reported to the CRB.
What is Opesa?
Opesa is a mobile loan app offered by Tenspot Kenya Limited, providing convenient access to micro-loans ranging from KSh500 to KSh500,000.
How can I download the Opesa app?
You can download the Opesa app from the Google Play Store on your smartphone.
What are the eligibility criteria for Opesa loans?
To qualify for Opesa loans, you need a good credit score from CRB Kenya, an active registered phone number for the past 6 months, an M-Pesa account, a steady income, and be between 20 and 55 years old.
What loan amounts and terms does Opesa offer?
Opesa offers loans ranging from KSh500 to KSh500,000 with an interest rate of 16.8% and a repayment period of 65 to 91 days.
How do I apply for an Opesa loan?
To apply for an Opesa loan, download the app, fill in your profile details, and follow the application steps within the app.
What are the fees associated with Opesa loans?
Opesa charges a one-time service fee ranging from KSh100 to KSh600, depending on the loan amount and repayment period. Additionally, failing to repay within the agreed period incurs a daily fee of 2.4% and may lead to CRB listing after 20 days.
How do I repay an Opesa loan?
Repay your Opesa loan through M-Pesa by following the steps outlined in the repayment section of the app, including entering the business number, your phone number, loan amount, and M-Pesa PIN
What happens if I fail to repay my Opesa loan on time?
Failure to repay your Opesa loan within the agreed period results in daily penalties and potential CRB listing after 20 days. It’s essential to repay your loan promptly to avoid additional charges and credit rating implications.
In conclusion, Opesa by Tenspot Kenya Limited stands out as a reliable and accessible mobile loan app in Kenya. With its user-friendly interface, competitive interest rates, and flexible repayment options, Opesa has become a trusted choice for individuals seeking quick and convenient micro-loans.
By adhering to eligibility criteria, understanding loan terms, and following the repayment process outlined in the app, users can effectively utilize Opesa to meet their financial needs. However, it’s crucial to repay loans on time to avoid additional fees and maintain a positive credit history.
Overall, Opesa contributes significantly to the financial inclusion landscape in Kenya, providing a valuable resource for those in need of short-term financial assistance.
Also read: Six Ways to Boost your Internet Speed