Cokash Loan – Everything you need to know

Discover CoKash, a reliable, instant, and flexible personal loan platform with branches in Kenya, Tanzania, Nigeria, South Africa, and the Philippines. CoKash offers a user-friendly app with simple registration and application processes, ensuring quick access to cash when you need it most.

How to Get Started with CoKash

Follow these easy steps to get started with the CoKash mobile loan app:

1. Download the CoKash app.
2. Register an account.
3. Perform a QuickCheck to ensure no outstanding unpaid balances.
4. Complete the online loan application.
5. Verify your personal details with CoKash’s secure system.
6. Receive cash directly to your mobile in an instant.

CoKash Loan Terms

CoKash offers loan terms that vary depending on the borrower’s location:

Loan Tenure

• Shortest tenor: 61 days
• Longest tenor: 365 days

Interest Rate

• 12.0% per annum (APR)

Loan amounts, processing fees, and example calculations for each region are provided below:

Philippines

• Loan Amount: ₱700 to ₱22,400
• Processing Fee: 5% of principal amount, minimum ₱22, maximum ₱250

Example: For a 90-day loan with a principal amount of ₱2,000, the processing fee is ₱100, the interest is ₱59.17, the total amount due is ₱2,159.17, and the monthly payment is ₱719.72.

Kenya

• Loan Amount: KES 1,500 to KES 50,000
• Processing Fee: 5% of principal amount, minimum KES 50, maximum KES 500

Example: For a 90-day loan with a principal amount of KES 4,500, the processing fee is KES 225, the interest is KES 133.15, the total amount due is KES 4,858.15, and the monthly payment is KES 1,619.38.

Tanzania

• Loan Amount: TZS 32,000 to TZS 1,000,000
• Processing Fee: 5% of principal amount, minimum TZS 1,100, maximum TZS 10,500

Example: For a 90-day loan with a principal amount of TZS 96,000, the processing fee is TZS 4,800, the interest is TZS 2,840.55, the total amount due is TZS 103,640.55, and the monthly payment is TZS 34,546.85.

South Africa

• Loan Amount: ZAR 300 to ZAR 8,000
• Processing Fee: 5% of principal amount, minimum ZAR 8, maximum ZAR 80

Example: For a 90-day loan with a principal amount of ZAR 700, the processing fee is ZAR 35, the interest is ZAR 20.71, the total amount due is ZAR 755.71, and the monthly payment is ZAR 251.90.

Nigeria

• Loan Amount: NGN 5,500 to NGN 180,000
• Processing Fee: 5% of principal amount, minimum NGN 180, maximum NGN 1,800

Example: For a 90-day loan with a principal amount of NGN 16,000, the processing fee is NGN 800, the interest is NGN 473.42