| Interest Rate | 20% |
| Duration | From 30 Days |
| Access Level | Public |
| Company Name | PowerKwacha |
| Phone 1 | +260 772 815 047 |
| Phone 2 | |
| Website or Store | https://www.powerkwacha.app |
| Address | |
| Category | Safe Loan |
| Company Email | support@powerkwacha.co.zm |
| Views | 94 |
Welcome to PowerKwacha, a platform dedicated to providing simple, fast, and secure online loan services to help you achieve your dreams, respond to emergencies, and easily obtain funds. We are committed to offering you the convenience of one-click loans, ensuring that your financial needs are met efficiently.
Main Features
- Quick Loan: Follow simple steps to receive funds within ten minutes.
- Online Application: Access funds online anytime, anywhere using your mobile phone.
- Safe and Reliable: Advanced encryption measures protect your personal information.
- Easy to Use: Whether you're new to loans or an experienced borrower, you can easily navigate our system.
Requirements
- Must be aged 18 or over.
- Must be a Zambian citizen currently residing in Zambia.
- Must have a stable job.
Loan Details
- Loan Amount: ZMW 100 - ZMW 5,000
- Loan Term: 91 - 120 days
- Annual Percentage Rate (APR): 10.95% - 27.98%
- Daily Interest Rate: 0.03% - 0.076%
- Maximum APR: 27.98%
Based on your credit assessment, we will provide a fair loan amount with no hidden fees throughout the process. For example, if you successfully apply for a loan of 1,000 ZMW with a repayment period of 120 days:
- Daily Interest Rate: 0.07%
- Service Interest Rate: 1%
Total Cost Calculation:
- 120 Days Interest: 1,000 ZMW * 0.07% * 120 = 84 ZMW
- Service Fee: 1,000 ZMW * 1% = 10 ZMW
- Total Repayment Amount: 1,000 ZMW + 84 ZMW + 10 ZMW = 1,094 ZMW
Kind Tips: We conduct loan transactions only through the official app and website. Please avoid making repayments through other channels.
Contact Us
For any queries or assistance, reach out to us:
- Phone: +260 772 815 047 / +260 772 815 325
- Official Website: https://www.powerkwacha.app
- Email: support@powerkwacha.co.zm
PowerKwacha is a trusted financial app supporting online lending for reputable urgent cash needs in Zambia. With years of reliable service, we have earned the trust of many customers by offering a variety of loan packages and flexible limits to meet all financial needs.
Product Information for PowerKwacha Loan
Loan Packages:
- Loan Amount: ZMW 100 to ZMW 5,000
- Interest Rates: 10.95% to 27.98% annually, depending on the chosen loan package.
- Loan Term: 91 to 120 days
- Additional Fees: Exempt from loan processing and service consultation fees.
Requirements:
- Must be aged 18 or older.
- Must be a Zambian citizen with stable employment and income.
Based on your credit assessment, PowerKwacha will offer a reasonable loan amount with no hidden fees. For example, if you register for a 1,000 ZMW loan with a 91-day term and an annual interest rate of 30%, plus a 1% service fee, your total cost will be 1,084.79 ZMW, including 74.79 ZMW in interest and a 10 ZMW service fee.
Operating Procedure for PowerKwacha Loan App
- Download and Install: Get the PowerKwacha app from the website or Google Play Store.
- Register and Apply: Create an account and apply for a loan.
- Receive and Repay: Receive your loan and ensure timely repayment.
Note: Ensure accurate bank account details are provided to facilitate proper fund disbursement.
Why Choose PowerKwacha Loan?
- Convenient Online Registration: Apply and borrow using your mobile phone.
- Credit-Based Borrowing: No collateral required.
- Simple Process: Easy registration and application.
- Competitive Fees: Transparent and clear additional charges.
- Data Security: Strict verification and data protection procedures.
- Professional Support: Available 24/7.
- Licensed Product: Hi-Fin Lending Inc. is licensed by the SEC, ensuring no worries about fraud.
Ready to experience financial convenience? Download the PowerKwacha app today and take control of your finances with ease!
Expert Counsel
Loan apps offer quick and convenient access to credit, often with minimal documentation and fast approval. However, they can be notorious for high-interest rates, hidden fees, and predatory lending practices.
How to Avoid Loan Apps
- Build an emergency fund: Save 3-6 months' worth of expenses to avoid needing quick loans.
- Create a budget: Track expenses, prioritize needs over wants, and allocate funds wisely.
- Explore alternative credit sources: Consider banks, credit unions, or peer-to-peer lending platforms with more favorable terms.
- Improve credit score: A good credit score can help you qualify for lower-interest loans.
- Avoid unnecessary expenses: Cut back on discretionary spending to reduce the need for loans.
Precautions When Using Loan Apps
- Read terms and conditions: Understand interest rates, fees, repayment terms, and penalties.
- Check lender legitimacy: Research the lender's reputation, licenses, and regulatory compliance.
- Borrow only what you need: Avoid taking more than necessary to minimize debt.
- Set realistic repayment expectations: Plan to repay on time to avoid penalties and interest.
- Monitor your credit report: Ensure loan app activities are accurately reflected.
How to Pay Loan Apps
- Prioritize repayment: Pay on time to avoid penalties and interest.
- Create a repayment plan: Break down debt into manageable installments.
- Use automatic payments: Set up automatic transfers to ensure timely payments.
- Consider debt consolidation: Merge multiple debts into a single, lower-interest loan.
- Communicate with lenders: Inform them of financial difficulties to negotiate payment extensions or reductions.
What to Do in a Financial Crisis
- Seek professional help: Consult a financial advisor or credit counselor.
- Prioritize essential expenses: Focus on necessities like food, rent, and utilities.
- Negotiate with creditors: Discuss payment extensions or reductions.
- Explore government assistance: Look into programs like unemployment benefits or financial aid.
- Consider debt restructuring: Work with a credit counselor to reorganize debt.
Red Flags to Watch Out For
- Exorbitant interest rates: Rates above 36% APR are considered predatory.
- Hidden fees: Look out for origination fees, late fees, or prepayment penalties.
- Unclear repayment terms: Ensure you understand repayment schedules and amounts.
- Lack of transparency: Be wary of lenders with unclear or misleading information.
- Aggressive marketing: Be cautious of lenders with pushy or deceptive marketing tactics.
Additional Tips
- Regulatory bodies: Familiarize yourself with local regulatory agencies, such as the Central Bank of Nigeria, to report suspicious lenders.
- Loan app reviews: Research reviews from multiple sources to gauge lender reputation.
- Financial education: Continuously learn about personal finance and responsible borrowing.
By being informed and cautious, you can navigate loan apps wisely and make better financial decisions
Join our Facebook Group
Reviews
Related Loans
.webp){kind=small}
Safely Report A Loan Shark
If you have borrowed from a loan shark or are worried about someone else, we’re here to help and keep you safe. Learn how to break free from their grasp.
