OPesa mobile loan app makes it easy for you to obtain loan anytime, anywhere when you sign up with your M-Pesa number through which you receive your loan amount.
Frequently Asked Questions About OPesa
Q1: How do I apply for a loan?
Open Google Play and search for "OPesa" App, then download the app. After downloading, open the App and start the sign-up and loan application process.
Q2: What information do I need to provide?
Simply follow the instructions by answering all the questions as asked. Make sure to provide authentic information about yourself.
Q3: How long does the application process take?
The process takes less than five minutes.
Q4: How to fill your emergency contact's information?
Your emergency contact is the person that can prove your reliability, credibility and honesty. OPesa may contact him/her when deciding the loan. Please fill the emergency contact's information carefully.
Q5: How does OPesa decide whether to give me a loan or not?
OPesa uses data from your phone including your handset details and financial transactions messages like from M-Pesa, M-Shwari and your reason for borrowing. They combine this with your OPesa repayment history to build an individualized credit score and determine the loan offer suitable for you.
Q6: What is the maximum loan amount one can receive?
The maximum loan amount would up to KSh 500,000 which is according to personal credit score.
Q7: What is the origination fee charged on loans? What is the maximum period of the loan?
The origination fee charge varies with different loan amounts but is up to 36% per annum and the maximum loan term is 365 days.
Q8: Can I change my ID number after submitting my details?
Unfortunately, not. OPesa conforms to the highest standards of data integrity. This means that you cannot change information that was previously submitted, hence you must ensure you provide correct information at sign-up.
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Loan Repayment
Q1: How do I repay the loan? Can I repay the loan early?
You will receive a message to your phone two days before the due date reminding you to repay the loan. You can repay the loan through the App or M-Pesa. Early loan repayment is accepted.
Q2: How to repay OPesa loan via M-PESA?
OPesa paybill number is 606280. Follow the steps below to repay your OPesa loan with M-PESA. 1. Navigate to M-PESA in your Safaricom menu on your phone
- Select Lipa na M-PESA
- Choose Paybill
- Enter the Paybill number 606280
- For account number, enter your MPesa number on which you received your OPesa loan
- Enter your repayment amount
- Enter your M-PESA pin
- Confirm that all details are correct and press ‘OK’.
Q3: Can I pay a loan on behalf of someone else?
Yes, you can, through the M-Pesa Paybill and the account being the mobile number of the person who took the loan.
Q4: What happens if I overpay my loan?
After reconciliation of all payments, excess funds will be reversed to your M-Pesa account within 15 days.
Q5: What happens if I pay my loan late?
Late loan repayments automatically incur a late fee of 2.4% per day. It is therefore advised that one does not exceed the repayment period. Further, this could reduce your future borrowing score.
Contacts
If you have any questions, you can email OPesa on help@o-pesa.com with your registered M-Pesa number in the subject. They will reply to your questions as soon as possible.
Also, you can call them via: +254207650999.
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