Family Bank’s Mobile Loan offers speedy access to funds for both customers and non-customers via the convenient PesaPap platform. The loan features a competitive facility fee of 6.62% (subject to Central Bank Rate), with a 30-day repayment window allowing for both full and partial repayment options. If you need flexible emergency cash, this product is designed to help.

How to Apply Step-by-Step

To get started with the Family Bank Mobile Loan, dial *325# or log in via the PesaPap App and register for a wallet. From there, select ‘My Loans’, check your loan limit, request your desired amount, and confirm with your MPIN. Approval is instant and notifications are sent via SMS.

Pros of Family Bank Mobile Loan

The application process is quick, and funds are disbursed instantly to your PesaPap wallet, providing timely relief during emergencies. Flexible repayment and clear facility fees are a plus, as is accessibility for both customers and non-customers.

Cons to Consider

The facility fee of 6.62% is slightly higher than traditional loan products. Also, you are required to repay within 30 days, which may not suit people needing a longer repayment period.

Our Verdict

Family Bank’s Mobile Loan is suitable for Kenyans looking for fast, reliable access to credit on their mobile phones. While the costs are transparent and the process hassle-free, keep in mind the fixed 30-day repayment timeline and ensure that you can comfortably manage your repayments.