Interest rates are determined by a number of factors, including your repayment history with Umba and the cost of lending for us. Depending on these factors, our rates vary as follows:
• Loan Terms: 4 Weeks - 16 Months
• Late / Rollover Fees: None
• Interest Range: 10% - 27%
• Equivalent Monthly Interest: 1% - 14%
• Equivalent APR: 12% - 180%
Borrowers are required to cover any mobile money transaction fees, such as M-PESA charges, associated with repaying the loan. Standard SMS and data charges by your mobile carrier may apply.
What interest rate does Umba loan service charge?
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