The iPesa loan app is a digital lending platform designed to provide quick, short-term loans to individuals in Kenya. Operated by Wakanda Network Limited under the subsidiary XGO, iPesa has gained popularity among borrowers due to its fast loan approval process and easy accessibility.
The iPesa loan app is available exclusively for Android users and has recorded over 5 million downloads on Google Play Store. It holds a rating of approximately 3.9 out of 5 stars from over 33,000 reviews.
iPesa Loan Features
- Loan Amounts – iPesa loan limit ranges from Ksh 500 to Ksh 50,000.
- Repayment Period – Between 91 to 180 days.
- Interest Rates – High, ranging from 36% to 72% annually. For instance, a Ksh 2,500 loan at a 72% APR over 180 days results in a total repayment of Ksh 3,400.
Read: 10 Loan Apps in Kenya with the Lowest Interest Rates in 2025
Eligibility Requirements
To qualify for an iPesa loan, applicants must meet the following criteria:
- Be at least 18 years old.
- Possess a valid Kenyan National ID for identity verification.
- Have a registered Safaricom phone number.
- Own an Android smartphone with internet access (the app is unavailable for iOS users).
Loan Application Process
Applying for a loan through iPesa involves a few simple steps:
- Download the App – Available on Google Play Store.
- Register – Sign up using your Safaricom phone number.
- Provide Personal Information – Enter details such as employment status, salary frequency, and emergency contacts.
- Credit Assessment – iPesa evaluates your creditworthiness using factors like credit history, repayment behavior, and phone data.
- Loan Approval – If eligible, approval is granted within minutes.
- Disbursement – The loan amount is transferred directly to your M-Pesa account, with a service fee deducted upon disbursement.
Repayment Methods
Borrowers can repay loans through the iPesa app or via M-Pesa using Pay Bill number 192010, with their phone number as the account reference. Late repayments incur a penalty of 2% per day on the outstanding balance.
Read: Loan Apps in Kenya with No CRB Check
Pros and Cons of iPesa
Pros:
- Quick loan approval and instant disbursement.
- Available 24/7.
- Timely repayment can improve creditworthiness.
Cons:
- High-interest rates and fees.
- Short repayment periods, which may pressure borrowers.
- Penalties for late repayments significantly increase the cost of the loan.
- Initially low loan limits, which may increase with good repayment history.
Security and Privacy Concerns
iPesa collects various personal and financial data for loan assessments, including access to SMS messages.
Credit Reference Bureau (CRB) Impact
iPesa reports borrowers’ repayment behavior to CRBs such as Metropol and TransUnion. Timely repayments can improve one’s credit score, making future borrowing easier. However, defaulting on an iPesa loan leads to CRB blacklisting, making it harder to access credit in the future.
If a borrower clears their iPesa loan after defaulting, they may need to initiate the process of removing their name from the CRB blacklist, which can take time.