Wednesday, September 02, 2020

Tala now provide Long Term Loans

    September 02, 2020   No comments

Tala

Finally, it is now possible to repay a Tala loan after up to 90 days (3 months) as opposed to the usual 30 days (1 month) .

This is exactly what most borrowers have been waiting for and are glad Tala saw the need to increase the repayment threshold by three fold.

Depending on the loan amount for which you are eligible, you have the option to choose repayment terms for up to 90 days. Customers have the option to select a term as short as 21 days... Tala

Tala

With this increment, you can now choose your term. The shortest term is 21 days while the longest is 90 days. You can also anything between 21 and 90 days for example 30 days or 60 days.

This feature has now given borrowers that freedom they missed for years. Other apps have been giving long repayment duration to customers long ago.

It is a nice move in a good direction. The CBK have been uncomfortable with the short tenure loans the apps have been providing. With increased repayment durations and self regulation among other things, the apps will soon be acceptable by the authorities.
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Mwabaya Katana

About Mwabaya Katana

Mwabaya Katana is a Finance Online Researcher and Writer.He is the founder of 'Loans Kenya' Blog.

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