Terms & Conditions

1. Loan Products

MobiKopa offers device financing for smartphones and other electronic devices with flexible repayment terms.

Loan Amount

KES 5,000 - KES 300,000

Repayment Period

1 - 12 months

2. Interest Rates & Fees

Annual Percentage Rate (APR)

We offer you the best credit terms, depending on your credit profile and loan term.

Additional Fees

• Application Fee: 3% of the Financed amount (one-time)
• Late Payment Fee: 10% of overdue installment amount
• Early Settlement: No penalty

3. Eligibility Criteria

To qualify for our device financing, you must meet the following requirements:

• Be a Kenyan citizen aged 18-65 years
• Have a valid National ID or Passport
• Provide valid KRA PIN
• Have a verifiable source of income
• Provide bank statements and M-Pesa statements (12 months)
• Have a guarantor with verifiable income

4. Repayment Terms

Payment Schedule

Monthly installments are due on the same date each month as agreed in your loan agreement.

Payment Methods

• M-Pesa
• Bank transfer
• Online payment portal.

5. Default & Collections

Default Definition

A loan is considered in default if payment is more than 30 days overdue.

Consequences of Default

• Reporting to Credit Reference Bureaus (CRBs)
• Device may be remotely disabled
• Legal action may be taken to recover the debt
• Additional collection costs may apply

6. Device Security

The financed device serves as security for the loan. The device remains the property of MobiKopa until full repayment. Customers may not sell, transfer, or damage the device without authorization. Customers shall not change the SIM card that was registered with the device, during the financing period.

7. Contact Information

For questions about your loan or these terms, contact us.