Patron: Quick and Easy Loan Service in Kenya
Patron offers a speedy loan service for customers in Kenya, making borrowing money hassle-free.
Looking for a reliable lender to borrow an instant loan until your next salary in Kenya? "Patron Loans" provides a solution where you can access the funds you need today. This service can assist you with various expenses such as business development, educational payments, or emergency situations.
Through the "Patron Loans" app, you can conveniently apply for a quick loan on their online platform. The eligibility criteria for this fast loan service are straightforward: Kenyan residents aged between 18 and 60 are eligible to apply. Repayment of the loan is made easy through the M-PESA system.
One notable benefit of "Patron Loans" is that early repayment enhances your credit rating, potentially leading to increased borrowing limits for future loans.
When utilizing our online lending platform, customers can enjoy the following advantages:
- We do not require or check credit or financial reports before approving your loan request.
- We streamline the process using our online app and your mobile phone for convenience.
- No collateral is necessary; borrow without additional conditions.
- Access quick funds at any time, day or night, instantly and without restrictions.
- Only M-PESA is required for quick cash disbursement post-approval.
- Early repayment boosts your rating, opening up possibilities for larger future loans.
- This fast online lending service is accessible throughout Kenya.
- Repay the payday loan at your convenience without a fixed installment plan.
Loan Details:
- Loan Amount: KSh 200 - KSh 10,000
- Loan Term: Shortest term 91 days, longest term 360 days
- APR: Ranges from 365% to 1825%
To illustrate, consider a Ksh 5,000 loan with a term of 91 days and an interest rate of 1% per day (APR 365%). The interest payment amounts to KSh 4,600, resulting in a total amount payable of KSh 9,600.
For added security and peace of mind, all data transmission occurs over a secure HTTPS connection. Rest assured that your personal data remains confidential and is not shared without your consent except with creditors. Transactions are safeguarded with 128-bit SSL encryption, ensuring that your funds reach you securely.
Overview
Patron - Fast Loans in Kenya is a Freeware software in the category Business developed by Patron Cash Limited.
The latest version of Patron - Fast Loans in Kenya is 1.7.222293, released on 03/02/2024. It was initially added to our database on 03/02/2024.
Patron - Fast Loans in Kenya runs on the following operating systems: Android.
Patron - Fast Loans in Kenya has not been rated by our users yet.
Pros
- Fast loan approval process
- No collateral required
- Accessible to individuals with no credit history
- Convenient mobile app for loan applications and repayments
- Flexible repayment options
Cons
- High interest rates compared to traditional bank loans
- Limited loan amounts for first-time borrowers
- Possibility of incurring additional fees if repayments are delayed
FAQ
What is Patron Cash Limited?
Patron Cash Limited is a financial institution based in Kenya that offers fast loans under the name Patron.
How does Patron work?
Patron provides quick loans to individuals in Kenya who need instant cash. The loan application process is done online through their mobile app or website.
What are the requirements to qualify for a loan from Patron?
To qualify for a loan from Patron, you need to be a Kenyan citizen or resident, have a valid national ID, have a good credit history, and meet the minimum income requirements.
How fast is the loan disbursement process with Patron?
Once you submit your loan application and it is approved, the funds are usually disbursed to your account within a few hours.
What are the interest rates charged by Patron on their loans?
Patron offers competitive interest rates on their loans. The exact rate will depend on various factors like the loan amount, repayment period, and your credit history.
Can I repay my Patron loan early?
Yes, you can repay your Patron loan early without any penalties. In fact, early repayment may even improve your credit score.
Is there a mobile app for accessing Patron's services?
Yes, Patron has a mobile app that allows customers to apply for loans, check their loan status, and manage their repayments conveniently.
What happens if I default on my loan with Patron?
If you default on your loan with Patron, it can negatively impact your credit score and may lead to debt collection activities.
Is there a maximum loan amount I can borrow from Patron?
The maximum loan amount you can borrow from Patron depends on your income level, creditworthiness, and other factors considered during the application process.
Are there any hidden fees or charges with Patron loans?
Patron is transparent about its fees and charges. Before taking a loan, make sure you understand all the associated costs such as interest rates, processing fees, and late payment charges.
Minh Ong
I'm Minh, a software engineer and author with a passion for exploring and writing about the latest in software and technology. With my experience in software development and a specialization in software updates and content creation, I bring a deep understanding of the tech landscape to my reviews and articles. My focus is on providing you with comprehensive insights into general software topics and the latest industry news.
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