CreditHela, since its launch, has had a great acceptance from users of mobile applications emerging as one of the market leaders in online microlending services in Kenya.
By 254 NewsDay Reporter.
It is also among the most downloaded fintech applications in Google Play Store in Kenya as per Google Reviews and Ratings.
Below are SIX important things you may need to know about CreditHela which undoubtedly have contributed towards the App's instant success in the Kenyan digital loans market.
1. User Privacy and Data Protection
CreditHela comes with very elaborate clear guidelines for privacy protection. Sharing of client data is always put on the forefront by ensuring the app's 'Terms & Conditions' are an option of scroll through for CreditHela customers.
2. Borrowing Range
One can borrow any amount of money from CreditHela ranging between Sh1,500 and Sh80,000, and spend the entire amount while still in their M-Pesa wallet at no extra charges provided none of the transactions in question exceed Sh1,000.
I bet you know the importances of cashless transactions during these times of the prevailing COVID-19 pandemic.
3. Loan Application
With only 3 steps to access a digital loan, CreditHela is fast , efficient instant mobile loan disbursed through M-Pesa. All you need is register your information, apply and get your loan in your M-Pesa wallet within minutes if you qualify.
4. CAMPARI Tool
CreditHela employs a factor known as CAMPARI (Character, Ability to repay, Margin, Purpose, Amount, Repayment terms, and Interest) to assess the creditworthiness of any particular borrower.
5. Risk-Based Pricing
A risk-based pricing is a methodology adopted by many lenders in the mortgage and financial services industries.
CreditHela uses this methodology to ensure best category of borrowers will access loans at lower rates through an empirical model.
Risk-based pricing simply entails the following aspects:
-Know the risk.
-Develop a risk-pricing plan.
-Negotiate the risk.
-Be targeted with the analysis and simple with the output.
-Input the parameters in the system in. risk-pricing model.
-Create a risk review process and new set of rules.
-Capture learnings for the future and make analytics.
-Build risk-analysis talent and capabilities.
6. Financial Literacy Programme
CreditHela has a robust Financial Literacy Programme aimed at helping its customers engage in a responsible borrowing culture. You can read more about the programme here.