Fintech Loans is a finance app from izwa Loans that lets users apply for loans from their mobile phone. According to the app listing, the application is completed inside the app, approved funds are paid directly to the user's phone, and the process can be started from anywhere without travelling to a branch.
Applying for a loan in the app
The listing describes a short application process. After downloading and installing the app, a user registers by providing personal details. Registration creates an account and makes a loan limit visible. The user then submits a loan request, entering the amount needed and choosing a repayment period. The listing states that there are no registration fees and that no paperwork, security, or guarantors are required.
Processing time and disbursement
The listing states that loans are processed and disbursed within about 30 minutes. It also names several loan options, including Cash 2 U Loans, Rupee Loans, and Instant Loans via M-Pesa. The listing does not explain how these options differ, so users should check the product details shown in the app before borrowing.
Repayment terms and interest
According to the listing, repayment periods range from 90 to 365 days, so a user can select a schedule that fits their situation. The listing also cites an interest rate of 8% and a maximum annual percentage rate (APR) of 25%. These are the figures the provider presents in its listing. Users should confirm the rates and terms that apply to their own loan within the app.
Managing an existing loan
The listing mentions two additional options: top-ups, which it says can be arranged with a few clicks, and due date extensions. These are presented as tools for adjusting a loan if financial circumstances change. The listing does not describe how either option works or what conditions apply.