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Knight Loan: How to Apply and Get the Loan

By Oluchukwu Ikemefuna

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In our recent articles, we’ve delved into various loan apps, from RocketPesa, known for lightning-speed loan disbursement, to MyKes Loan app, offering generous loan limits, as well as Aren loan, M-Shwari loan, and more.

Each of these apps boasts unique features or services that set them apart, ensuring there’s an app tailored to your specific needs. However, one loan app stands out for its regal essence, and that’s the Knight loan app.

Knight loan

So, what is Knight loan? Established in October 2022, Knight loan app offers a distinctive set of features and functions, making financial services easily accessible to Kenyans. Following a simple application and intelligent evaluation process, your loan is swiftly deposited into your M-Pesa account.

Also read: Mykes Loan App in Kenya: Application and Paybill Number

Knight Loan: Limits and Offers

To provide further insight into the Knight loan app, it’s important to note that it offers loan amounts ranging from KES 1,000 to KES 60,000 with flexible loan terms spanning from 91 to 365 days. The loan rate is capped at a maximum Annual Percentage Rate (APR) of 36.5%, which translates to 3.04% per month or 0.1% per day.

For a clearer understanding, consider a representative example where a loan of KES 10,000 over a term of 180 days incurs a service fee of 0.1% per day, totaling KES 1,800. This brings the total amount due at the end of the loan term to KES 11,800. Timely repayments can lead to benefits such as increased credit limits and reduced service charge rates.

How to Download and Install Knight Loan App

The Knight Loan app, available on Google Play for free, is designed to simplify access to financial services for Kenyans. Launched on October 4, 2022, it has garnered a total worldwide rating of 3.8K, with 5-star ratings from 1.2K users, indicating its reliability and user satisfaction. Moreover, this app does not include in-app purchases or ads, offering a seamless user experience.

Furthermore, Knight Loan offers loan amounts ranging from KES 1,000 to KES 60,000, with flexible repayment terms between 91 and 365 days.

The maximum Annual Percentage Rate (APR) is set at 36.5%, equivalent to 3.04% per month or 0.1% per day, ensuring transparent and manageable borrowing costs. For instance, a loan of KES 10,000 over 180 days incurs a service fee of 18%, totaling KES 1,800, resulting in a total repayment of KES 11,800 at the end of the term.

The user process is straightforward:

  1. Install the Knight Loan app from the Google Play Store on your Android device.
  2. Fill out the simple application form and submit it for review.
  3. Once approved, the loan amount will be deposited into your M-Pesa account, providing quick access to funds for your financial needs.

Also read: Rocket Pesa Loan App: How to Download and Apply for Loan

FAQs about Knight Loan App

1. What is Knight Loan?


It is a mobile application designed to provide easy access to financial services for Kenyans. It offers loan amounts ranging from KES 1,000 to KES 60,000 with flexible repayment terms.

2. What are the key features of Knight Loan?


The key features of Knight Loan include:

  • Loan amounts range from KES 1,000 to KES 60,000
  • Loan terms spanning from 91 to 365 days
  • Maximum Annual Percentage Rate (APR) of 36.5%
  • Transparent service fee calculations
  • Quick loan disbursement to M-Pesa accounts
3. How does the loan application process work?


The loan application process involves the following steps:

  1. Install the Knight Loan app from the Google Play Store.
  2. Fill out the simple application form.
  3. Submit the application for review.
  4. Receive loan approval and funds deposited into your M-Pesa account.
4. Can I repay the loan early?


Yes, Knight Loan allows early repayment without penalties, which can also positively impact your credit limit and service charge rates.

5. Does Knight Loan charge any fees or include ads?


Knight Loan is free to use without any in-app purchases or advertisements, ensuring a hassle-free borrowing experience.

6. How is the loan service fee calculated?

The loan service fee is calculated as 0.1% per day of the loan amount, providing a clear understanding of the total repayment amount.

7. Are there any benefits for timely repayments?


Yes, repaying loans on time with the loan app can lead to increased credit limits and lower service charge rates for future borrowing.

8. Is Knight Loan available for iOS devices?


Currently, Knight Loan is only available for Android devices through the Google Play Store.

9. What is the user rating and feedback for Knight Loan?


It has received positive feedback with a worldwide rating of 1.8K, including 5-star ratings from satisfied users, highlighting its reliability and user-friendly experience.

10. How secure is Knight Loan in terms of data protection?


It prioritizes data security and ensures that it encrypts and protects user information throughout the loan application and transaction processes.

Also read: Airtel Africa and ATC Deal Receives Approval after Probe

Conclusion

In conclusion, Knight Loan emerges as a reliable and user-friendly solution for accessing financial services in Kenya. With its flexible loan amounts, transparent terms, and quick disbursement to M-Pesa accounts, it caters to the diverse needs of borrowers.

The app’s straightforward application process and absence of fees or ads further enhance its appeal, making it a preferred choice for many users. Through timely repayments, borrowers can not only manage their finances effectively but also unlock benefits like increased credit limits and lower service charge rates.

Overall, This Loan app stands out as a valuable tool in the financial landscape, empowering individuals to meet their financial goals with ease and convenience.

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Christian Maximilian
Christian Maximilian

I am a Software Engineer, technical writer, and overall tech enthusiast. For me, utilizing my skills as a Software Engineer to perform Technical Search Engine Optimization is not just a job, but something I gladly incorporate into my pastimes as well, and I have been doing this for over 3 years.

When I'm not coding or writing technical documentation, I enjoy listening to music and exploring new genres.

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