Okash loan app, a product of Tenspot Kenya Limited, is a very popular mobile loan application in Kenya, with over 5 million installations by the time of writing this article.
Perhaps the popularity of Okash Okash arises due to the app’s less strict approach in lending out cash. Okash claims it does not use your CRB listing in order to grant your loan request.
Any person between 18 and 55 years, has a Kenyan ID, has a constant monthly income, and is an M-Pesa registered user is eligible for an Okash loan application.
Failure to fail Okash loan on time incurs a rollover fee of 2% for each day defaulted. You will then have to pay the original loan amount, loan charges, and rollover fee by the end of the rollover period.
However, if you still fail to pay the loan amount and fees after the rollover period, your details will be sent to CRB platforms within 20 days of your default.