OKash Advantage Plus: How the new Program by OKash App Will Allow you to Borrow More, Pay Less for Your Loan
Following the recent announcement by the Central Bank of Kenya (CBK) urging borrowers to begin taking timely repayment of individual loans seriously in the wake of lenders' adoption of Risk-based Pricing, leading micro-lending loan app, OKash, has introduced a new program dubbed, 'OKash Advantage Plus'.
OKash Advantage Plus which is mainly pegged on the Risk-based Pricing approach, will reward your loyalty as OKash user by allowing you to enjoy a set of benefits as you continue using the loan app. This will involve transitioning you through a step-by-step two-tier process that will have 15 levels of users as explained below.
Tier 1: Standard User/Member
A Standard User is one who sits between Levels 1-6 Users, the maximum loanable amount is Sh50,000, with a one-time service fee of 22% and 35% of principal amount.
This will have you enjoy basic services to improve your financial health all from the convenience of your phone.
Tier 2: Super User/Member
A Super User is one who sits between Levels 7-15 Users. Their maximum loan access amount is Sh100,000, with a one time service fee of 12-16% of principal amount. The chargeable fees will decrease gracefully when you become a Super Member.
This will ensure that OKash is committed to providing stable and preferential credit loan services to high-quality users with stable income and good credit records.
• RELATED READS >>
- Why Repaying That OKash Loan now Might Prove a Game-Changer to Your Credit Score
- How to use OPesa App to Build Your Credit Score From Zero
- What Is Bad Credit History Rating and Consequences?
- Why CreditHela has Embraced Risk-based Pricing Strategy in Issuing Loans
"OKash is seeking to grow with you as you grow with us. We have noted your loyalty and we will now be rewarding you with growth in our platform. You will be able to graduate from one level to the next depending on your repayment record, Credit Score, your loan application frequency and consistency with us," reads a post on OKash Facebook page.
It adds: "The more you apply and pay your loans on time, the more you stand a chance of being promoted from one level to the next. You will get to enjoy benefits such as lower interests as you rise up the ladder as well as increased loan limit in each level."
TAGS