Chapeo Credit-Revolving Credit 3.3.22

Chapeo Credit-Revolving Credit 3.3.22

FRONTLINE DIGITAL – Freeware – Android
Latest Version
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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