Kasente Instant mobile loan

Kasente is a mobile lending app tailored for Ugandan individuals and businesses in need of emergency loans. It's designed for simplicity and ease of use, offering a path to increasing your loan limit and accessing larger amounts for business growth or personal emergencies. Here's a detailed guide on Kasente’s loan products, eligibility, application process, data security, and customer service.

Loan Product Features

Loan Limits:

• UGX 30,000 - UGX 1,000,000

Loan Term:

• Minimum 91 days to 365 days

Loan Interest:

• 0.5% - 2% daily

Loan Charges:

• 5%

APR (Annual Percentage Rate):

• 25% - 250%

Repayment Methods:

• Daily, weekly, or monthly instalments, flexible according to your choice.

Example: If your loan amount is UGX 200,000 with a payment period of 120 days and a service fee of 5%, the interest is 33%. The disbursed amount is UGX 190,000. Total cost = UGX 200,000 * (5% + 33%) = UGX 76,000. Total repayment amount = UGX 266,000. If repaying in instalments monthly, you should pay UGX 66,500 monthly. If repaying in a lump sum after 120 days, the amount is UGX 266,000.

Eligibility for Loan Application

To qualify for a loan, you must:

1. Be aged between 22-55 years.
2. Have a valid National ID.
3. Have a stable income source, whether employed or running a business.

Required Documents for Loan Application

1. A valid National ID card.
2. A mobile money account registered in your name with MTN or Airtel Money.
3. Completed KYC (Know Your Customer) forms and application forms.
4. Agreement to the app’s terms and conditions and privacy policy.
5. Proof of salary slip or bank statement to improve credit score evaluation.

How to Apply for a Loan

1. Download and install the Kasente app on your phone.
2. Authorize data permissions.
3. Register with your MTN or Airtel phone number.
4. Fill in your information on the KYC form.
5. Submit your loan application and agree to the loan agreement.
6. If approved, the amount is transferred directly to your mobile money wallet. If not approved, check if the information provided is correct and sufficient, then reapply.

Data Security

To evaluate your creditworthiness, Kasente collects your full legal name, NIN, phone number, address, income information, emergency contact, and data from your phone, including SMS, phone, GPS, and other device information. You have the right to authorize the data collection. All data is stored and processed securely, with measures like HTTPS encryption, firewalls, anonymization, and access control to ensure data safety.

Ensure you always have the latest version of the app to access the newest features.

Data & Privacy: Kasente takes your privacy and data very seriously, using the same security measures as banks to keep your information safe.

Customer Service and Complaints

Business Hours:

• 8 a.m. to 5 p.m., Monday to Friday (excluding public holidays).

Kasente’s commitment to secure, convenient lending makes it a reliable choice for managing financial emergencies and business needs.