Omanpesa-credit loan 1.3

The services provided by Omanpesa are characterized by high lending limits, rapid approval processes, safety assurances, and convenience for users. Loan amounts range from 300,000 UGX to 3,000,000 UGX, with repayment terms spanning from 120 to 360 days. The monthly interest rate varies between 1.08% and 3%, resulting in an annual interest rate bracket of 13% to 36%, with a maximum annualized rate capped at 36%.

For illustrative purposes, applying for a loan of 1,000,000 UGX over a period of 180 days at an interest rate of 22.4% per annum would entail accruing interest of 112,000 UGX. This results in a total repayment amount of 1,112,000 UGX, comprising the principal and the interest.

Calculation details are as follows: total loan fee equals (principal amount) × (annual interest rate) / 360 days × loan duration (180 days), which equals 112,000 UGX. The principal remains at 1,000,000 UGX, with total interest at 112,000 UGX, bringing the total repayment to 1,112,000 UGX. The effective annual interest rate in this example is approximately 22.4%.

Eligibility criteria for applicants include being a legal resident of Uganda, aged between 20 and 65 years old, possessing a stable income source, and holding a valid Uganda ID.

The process to obtain a loan involves four steps: (1) downloading the platform application and completing registration; (2) submitting basic personal information; (3) applying for a loan online and awaiting approval; (4) receiving the approved funds directly into your personal account.

Regarding data security, Omanpesa employs advanced encryption and security protocols to safeguard users’ data. Your information will not be shared with third parties without your explicit consent.

Note: Loan amounts, repayment periods, and specific interest rates are subject to approval based on individual review. Borrowers are advised to assess their needs carefully and manage borrowing responsibly to avoid overdue payments.

If you have questions or require assistance, please contact us via email or phone:
Phone: +2560771602374
Email: [email protected]
Address: SFSD+269 Bugonga Rd, Entebbe, Uganda