With the rising popularity of online loaning in Kenya, numerous financial applications have emerged. Among them, DotCash stands out due to its speed and convenience, perfectly catering to customers' urgent financial needs. Here’s everything you need to know about this highly rated app.

DotCash Loan Features

Loan Amounts and Terms:

• Loan Amount: 1,000 KSH to 80,000 KSH
• Loan Term: 91 days to 365 days

Interest Rates:

• First Loan: Enjoy a fixed interest rate of 0%
• Subsequent Loans: Maximum interest rate of 36% per year, depending on the chosen loan package
• Student Loans: Students receive a 30% reduction in interest rates for their initial loan applications

Fee Structure:

• Service Fees: No consultation or document processing fees
• Origination Fee: One-time fee ranging from 150 KSH to 600 KSH

Example Calculation

If you apply for a loan of 2,000 KSH for 91 days:

• Loan Amount: 2,000 KSH
• Interest: 0%
• Origination Fee: 150 KSH
• Total Repayment Amount: 2,000 KSH + 0 + 150 KSH = 2,150 KSH

Loan Repayment Process

The loan repayment process with DotCash is conducted through M-Pesa payments. Here’s the step-by-step procedure:

1. Use the App or M-Pesa Service: Open the DotCash app or the M-Pesa service on your mobile phone.
2. Log in to M-Pesa: Use your phone number or the M-Pesa Express app to log in.
3. Enter Payment Amount: Specify the amount you need to repay.
4. Confirm Payment: Enter your M-Pesa password to confirm the payment.
5. Make the Payment: Ensure that the repayment amount is correct and complete the payment.
6. Update Status: Once the payment is processed, your repayment status will be updated in the DotCash system.

Note: Timely repayment not only helps avoid penalties but also improves your credit score.

Applying for a DotCash Loan

Here’s how you can apply for a loan with DotCash:

1. Download the App: Get the DotCash app from the Google Play Store.
2. Create an Account: Fill in a few quick questions to set up your account.
3. Apply in Seconds: Submit your loan application.
4. Receive Funds: Get the loan amount directly into your M-Pesa account.
5. Increase Loan Limit: Repay on time to increase your loan limit for future applications.

How to Repay Your Loan

1. Repayment Button: Use the one-click repayment button in the DotCash app.
2. M-Pesa: Pay through M-Pesa using your registered phone number as the account.
3. Partial Payments: You can make partial payments before the due date.

Responsible Borrowing Tips

• Borrow What You Can Repay: Only borrow amounts you can realistically repay.
• Borrow What You Need: Avoid unnecessary borrowing to prevent debt accumulation.
• Employment Considerations: Only borrow if you have a stable income.
• Repay on Time: Timely repayment is crucial to maintain a good credit history and avoid penalties.

Privacy and Permissions

DotCash takes your privacy very seriously. When you download the app, we request permissions to use data on your phone to verify your identity and create a credit score. All data shared with us is encrypted to protect your privacy, and we promise never to share your information with third parties without your consent.

DotCash is a secure and reliable online loan app, offering you the convenience of accessing up to Ksh 80,000 on your smartphone anytime, anywhere. With transparent terms and excellent customer service, DotCash is here to meet your financial needs efficiently. Download the app today and experience hassle-free borrowing!