OPesa Offers Relief to Borrowers Following Announcement of 50 Percent Waiver on Penalties

As the coronavirus pandemic continues to disrupt economic livelihoods of many Kenyans, OPesa digital lender has sought to give its borrowers a sigh of relief by waiving loan penalties.

This follows the leading lender's Monday announcement that it will with immediate effect offer a 50 per cent waiver on penalties that some borrowers had been slapped with as a result of late repayment, way long before the viral contagion was reported in Kenya.

This will basically mean that if, for instance, you had borrowed Sh5,000 from OPesa, currently, your loan balance stands at Sh7000. But with the 50% waiver on accrued penalty, you will only have to pay Sh6000 after which your penalty is waived.

The waiver, OPesa notes, is in line with government's appeal to local lenders including banks to help borrowers with loans that fell due before and during the pandemic, mitigate the impact occasioned by the COVID-19 virus.

The move will also help such OPesa borrowers to regain their good credit profiles that may have been affected negatively by late repayment and the resultant penalties.

HOW TO PAY OPESA
• SELECT MPESA
• PAYBILL
• ENTER 606280
• ACCOUNT ANUMBER – CELL PHONE NUMBER
• ENTER AMOUNT
• ENTER PIN

How does Opesa loan app works?

In this article, we introduced you to OPesa digital loan app and promised you to take you through the steps on how OPesa app works.

OPesa loan app works by collecting data from your phone in the following ways.

1. Through the questionnaires, you fill up when applying for your first loan. The data collected include Your personal name, Date of birth, National ID, mobile phone number and other biodata.

2. Through app usages such as asking for clarification, participating in competitions and any other promotional activities offered within the app.

This data is then used by the loan provider to determine your credit score and hence the loan limit in addition to identifying you and your financial capabilities.

Similarly, the data collected may also be used for loan collection and reporting to CRB Kenya just in case you default on your loan.

How to download and install OPesa loan app

-Open Google Play or click here to go to play store directly.

-Search, download and install OPesa app.

-Open your loan app and register using your Safaricom number.

-Fill in the form provided by answering a few personal questions and your good to go.

How to contact OPesa

If you wish to contact Opesa, you may do so in one of the following ways:

1. Directly in the app via the contact us section.

2. On their active social media platforms such as Facebook.

3. You can also contact them directly their landline phone on +254-207650999.

4. Lastly, via Whatsapp on +254758706946.

OPesa customer care representatives can also be reached via email on help@o-pesa.com or on Google Play store via the app review section.

If you have any question, comment or anything else arising from this particular article, please reach our editor on Whatsapp number, 0720 826 794, and he will be more than glad to assist.

What is OPesa loan app?

Opesa app is a loan product of Tenspot Kenya Limited which is a local company based in Nairobi Kenya.

OPesa loan app provides fast unsecured credit loans straight to your M-Pesa account.
Tenspot Kenya Limited offers chapchap loans of between Sh500 and Sh30,000 at an interest rate of 12% APR( Annual Percentage Rate) with zero service fees.

OPesa app is currently ranked second on Google Play store.

Users are only required to download and install the loan app and thereafter fill a questionnaire and then apply for a loan.

In the following article we, however, look into details on how OPesa loan app works, how to download and install the app and how to grow your loan limit.

If you have any question, comment or anything else arising from this particular article, please reach our editor on Whatsapp number, 0720 826 794, and he will be more than glad to assist.