It’s a weekend. It’s also right in the middle of the month, meaning that your request for financial help (or soft loan) from a colleague, friend or relative who has always come through for you in times of need is likely to receive a negative response.
And whoever you’re seeking the loan from maybe willing to help out, just that they are not in a position to at the moment, during this time of the month. Remember Third Term school fees have just been paid early this month as children were being sent back to school, while funds were also used for shopping for the student(s), plus a bit of pocket money for any emergencies that may arise while they’re in school.
Then remember that even with the departure of (or return of children) back to school, the family members left within the household still need finances their daily activities and expenditure like food, fare and so on.
That Kenyan saying of “mwezi iko kwa corner” (the month is at a tricky spot money-wise) is now applicable to most people, be they single or married.
And because they are need of financial assistance in the form of loans, where can they run to? Of course we have the shylocks in town (who, apart from charging exorbitant interest rates, in most cases end up making their clients lose their security in case of default). But what if dealing with shylocks is not your cup of tea and yet you still need to access some quick loan?
This is where we now invite to download and install the mKey app on your Android mobile phone. The mKey app, an innovation from Finserve, went live early this month and offers users more than traditional mobile banking services.
For those who downloaded mKey immediately it’s launched and started using it – for deposits, to make payments as well as other financial transactions – they already have a good rating and can thus qualify for a loan, repayable within a month and with very attractive interest rates compared to existing providers.
And when we say you can access more flexible and cheaper loans with the mKey app, consider the following: while others financial services providers in the industry offer loans at 15% interest, mKey provides with a really good deal whenever you borrow in that it levies a fee of only 9% (the lowest in the industry currently) of the loan amount disbursed. Like other mobile loans, they come with a repayment period of 30 days and you can have multiple loans in a month provided the previous one(s) have been repaid.
Again, making early repayments gives you a better credit rating (which as you should be aware of, is also greatly guided by your CRB ratings) towards a higher loan limit next time you apply.
So, before the weekend comes to an end, why not download the mKey app, start transacting and apply for a loan? Or if you’re one of the early adopters of mKey, why not try out the loan feature just to see how convenient it can be?
And before we forget, remember using the app regularly (and making your loan repayments on time) also earns you rewards, which you can later redeem for various prizes – including items and shopping vouchers. That’s why we say that with mKey, it’s all about helping you #MakeMorePossible.