Okolea Loan App Download 2024

-

Okolea Loan App Download 2024

-

Okolea Loan App Download 2024

-

Okolea Loan App Download 2024

-

Okolea loan app is an instant mobile loans product of Okolea International Limited, a Fintech company specializing in digital SME loans.

The loan app is available for download on Google Play Store and Apple’s App Store. Okolea loans are instant and available for personal and business use.

About Okolea Loan App

The app is no longer on Google Play Store. At the time of this writing, the Okolea app had over 500,000+ installs on Play Store and a star rating of 3.3, brought about by a total of 9.49K users.

The In-app content has a rating of 3+. The Okolea loan app requires a minimum Android version of 4.4W and up to run smoothly.

Generally speaking, the recently updated software version of the app is 7.2.0 and requires only 8.4 MB to download and install.

Having talked about some key features of the loan app. It is time to review the app regarding registration, loan interest rate, and loan limit. Let’s do this.

How Does Okolea Loan App Work?

Registration

  1. Open Google Play or Apple Store to download and install the app on your phone.
  2. Open the loan app, register by filling in the online form, and submit your details for review.
  3. Access your profile on the app and provide other related information.
  4. Sit back, relax and wait for your account to be appraised.

Okolea Loan Limits

After registration on the loan app, you are immediately assigned a loan upon appraisal of your account. This feature enables you to borrow any amount equal to or less than your credit limit.

Interest Rates

Okolea app offers varying interest rates, as depicted in the picture below, depending on the loan repayment period. A one-time service fee of 0.6% – 2.5% of the principal amount is applied.

Okolea app also charges fees such as late repayments and fines, which do not exceed the principal amount.

Okolea App Features

  • Varying interest rates which are depended on the loan duration.
  • Instant access to loans with good credit history.
  • You can borrow repeatedly, provided you are within your loan limit.

Cons

  1. Prepare to experience bugs and other technical problems as the app is still developing.
  2. Too many bugs.
  3. Slow loan disbursement to your M-Pesa account.
Mariam Chorah
Mariam Chorah
Mariam is an exceptional lead writer for the Peni.co.ke blog. Her expertise lies in extensive research and creating insightful blog posts on various finance-related topics. As a skilled blogger, Mariam possesses the ability to simplify complex financial concepts and present them in a clear and accessible manner, making her writing both informative and enjoyable to read.

Recent posts

1 COMMENT

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.