In a world where financial needs arise unexpectedly, having access to a reliable loan service is crucial. The Mulla Loan App has emerged as a trusted financial companion for many Kenyans, offering quick, hassle-free loans directly to your M-Pesa account. Whether you need funds for an emergency, a business opportunity, or any personal expenses, Mulla is designed to provide a seamless borrowing experience.
Loan Amounts: Tailored to Meet Your Needs
Mulla Loan App offers flexible loan amounts ranging from KES 2,000 to KES 50,000. This range ensures that the app can cater to various financial needs, from small, urgent requirements to more substantial sums for significant expenditures. Whether you need a quick boost to your cash flow or a more considerable sum to address a pressing need, Mulla has you covered.
Flexible Repayment Periods: Aligning with Your Financial Plans
Understanding that every borrower has different financial circumstances, Mulla offers flexible repayment periods. The minimum period for repayment is 91 days, giving you enough time to manage your finances without immediate pressure. For those who prefer longer repayment plans, the maximum period extends up to 365 days (one year). This flexibility allows you to choose a repayment schedule that aligns with your income and financial plans.
Transparent Service Fees: No Hidden Charges
Mulla Loan App is committed to transparency, with a straightforward service fee structure. A one-time service fee is charged at a rate between 3% and 8% of the loan amount. This translates to a service fee ranging from KES 60 to KES 160, depending on the size of the loan you choose. This one-time fee is deducted from the loan amount, ensuring you are aware of the costs upfront, with no hidden surprises.
Competitive Interest Rates: Fair and Reasonable
The interest fee on loans from Mulla Loan App ranges between 16% and 30%. This rate is competitive compared to other loan providers in the market, ensuring that you get a fair deal. The interest is calculated on the reducing balance, meaning you only pay interest on the remaining loan amount, further reducing your financial burden.
Understanding the Annual Percentage Rate (APR)
The Annual Percentage Rate (APR), which includes both the interest and service fees, gives you a clear picture of the total cost of the loan over a year. Mulla Loan App offers a minimum APR of 67.2% and a maximum APR of 128.3%. This range ensures that you are fully informed of the total cost of borrowing, enabling you to make an informed decision.
How to Apply for a Mulla Loan
Applying for a loan with Mulla is as easy as 1-2-3:
1. Download the App: Visit the Google Play Store and search for "Mulla Loan App." Download and install the app on your smartphone.
2. Register: Once installed, open the app and complete the registration process by providing the required details. The app ensures that your information is secure and protected.
3. Apply for a Loan: After registration, you can apply for a loan by selecting the desired amount and repayment period. The app will display the service fee, interest, and total repayment amount before you confirm your application.
Fast Disbursement: Direct to Your M-Pesa Account
One of the standout features of Mulla Loan App is its fast disbursement process. Once your loan application is approved, the funds are deposited directly into your M-Pesa account. This quick turnaround time ensures that you have access to the money when you need it the most.
How To Contact Mulla Pride Limited loans customer care
Contact Mulla Pride Limited loans customer service through:
Call +254 719286376
Email:customerkc986@gmail.com
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