Monday, January 20, 2020

Okolea Loan App Download and Application

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Okolea loan app is an instant mobile loans product of Okolea International Limited a tech company that specialize in digital loans.

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

About Okolea Loan App

At the time of this writing, not only does Okolea app has over 500,000+ installs on Play Store but it also has a star rating of 3.8 brought about by a total of 7,829 users.

The In-app content has a rating for 3+. As a matter of fact, 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 6.8.7 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 in terms of registration, loan interest rate,and lastly loan limit. Let’s do this.

How does Okolea Loan App Work?

Registration

  1. Open Google Play or Apple’s store to download and install the app on your phone.
  2. Open the loan app and then, register by filling in the online form and then 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.

Related: List of Personal Loans in Kenya.

Interest Rates

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

Okolea app also charges other fees such as late repayments and fine which do not exceed the principle amount.

Okolea Loan App

Okolea App Features

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

Cons

  1. Prepare to experience bugs and other technical problems as the app is still in development stage.
  2. Too many bugs.
  3. Slow loan disbursement to your M-Pesa account.

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