Nowadays there are many companies which offer smartphone loans. But you don’t just pick any company, go for one with low interest rate and flexibility in payment. Below we have picked the best companies with low interest rate.
Interest rate:12% to 20% per year
Minimum weekly payment amount: Ksh 550
You are allowed to pay for 26,39 and 52 weeks
Safaricom has a package called Lipa Mdogo Mdogo which offers smartphones on loan. The company has a good reputation among customers. This is one we will recommend to Kenyans.
You are required to pay a deposit and repay the balance in 12 months.
If a smartphone costs Ksh 10,000, you will end up paying Ksh 11,500 to Ksh 13,000. The interest on the loan ranges between 10% and 20%.
The prices of smartphones range between Ksh 10,000 and Ksh 27,000. You will be paying Ksh 20 to Ksh 80 per day depending on the price of the phone. The deposit amount range between Ksh 500 and Ksh 5000.
Mkopa is as popular as Safaricom, sometimes more popular. It’s also a good company which offers smartphone on loan cheaply. Their interest is less than 20%.
Mkopa has a wide range of Nokia and Safaricom smartphones.
The Mpesa Paybill Number for repaying the loan is 333222.
Mkopa will give you a phone at a deposit of Ksh 8,299. You will then repay the remaining amount for 365 days. The minimum amount to repay per day is Ksh 100.
These are the 3 best companies to get smartphones from on loan.They will not harass you,they will also ensure that the interest is low.
None of them has a bad reputation, which is why they are highly recommended.
