3.3.22 Safe to install
Chapeo Credit offers a revolving credit service designed for flexibility and convenience. The platform allows users to experience a credit card-like lending process, with the potential for credit limit increases based on one’s repayment history, thereby facilitating various financial needs.
Advantages of Chapeo Credit:
- Daily Interest Charges: Interest is calculated daily, providing a more adaptable borrowing experience without the concern of long-term interest burdens.
- Exclusive Credit Limit Management: Each user receives a personalized credit limit, which is adjusted in real-time based on repayment behavior, allowing for continuous increases in available credit.
- Credit Score Enhancement: Timely repayments can improve your credit score, leading to higher credit limits and potentially more favorable interest rates.
- Security and Privacy Assurance: Utilizing bank-grade encryption technology ensures the safety of personal information and transaction data.
Loan Details:
- Credit Limit Amounts: Ranges from KES 1,000 to KES 200,000
- Loan Term: Available for 91 to 121 days
- Technical Service Fee: Varies between 0.05% - 0.1% based on the loan term
- Daily Interest Rate: Charged on borrowed amounts, ranging from 0.005% - 0.01%
- Minimum APR: 21%
- Maximum APR: 40%
The formula for calculating APR is as follows:
APR = (Total Interest or Fees ÷ Loan Principal) × (365 ÷ Actual Loan Duration) × 100%
Loan APR Example:
- Original Loan Amount: KES 5,000
- Actual Amount Received by User: KES 5,000
- Technical Service Fee: 0.0667%
- Daily Interest Rate: 0.0084%
- Loan Period: 91 days
Technical Service Fee Calculation:
Technical Service Fee = KES 5,000 × 0.0667% × (91-1) days = KES 301
Interest Fee Calculation:
Interest Fee = KES 5,000 × 0.0084% × 91 = KES 38
Total Repayment Amount Calculation:
Total Repayment = KES 5,000 + Technical Service Fee + Total Interest Fee
Total Repayment = KES 5,000 + KES 301 + KES 38 = KES 5,339
Actual APR = ((301 + 38) ÷ 5,000) × (365 ÷ 91) × 100% = 28%
Please note that all amounts payable for any credit line will be clearly displayed prior to your acceptance and disbursement into your mobile money wallet.
Contact Us:
- Email: [email protected]
- Company Address: P.O BOX 12143-00400 NAIROBI, KENYA
- Customer Service: +254 (0)207905174
Overview
Chapeo Credit-Revolving Credit is a Freeware software in the category Business developed by FRONTLINE DIGITAL.
The latest version of Chapeo Credit-Revolving Credit is 3.3.22, released on 04/28/2025. It was initially added to our database on 04/28/2025.
Chapeo Credit-Revolving Credit runs on the following operating systems: Android.
Chapeo Credit-Revolving Credit has not been rated by our users yet.
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