How to increase your loan limit
The cost of the loan is a complicated consideration, as it depends on the borrower’s credit score, the duration of the loan, among other data points. Find out how lenders price the interest of these digital loans.
The growth in digital credit is driven by a segment of active individuals who borrow money on a weekly and monthly basis.
Over the past ten years, digital lenders like Tala, and Branch have transformed the credit market in Kenya and enabled more people to access loans through the convenience of their mobile phone. Today, the industry cumulatively lends up to KES2 billion per month. But do consumers even understand what they are signing up for?
The cost of the loan is a complicated consideration, as it depends on the borrower’s credit score, the duration of the loan, among other data points. Find out how lenders price the interest of these digital loans?
