Welcome to Chapeo Credit, your flexible and convenient revolving credit service provider. With us, you can enjoy a credit card-like lending experience, and as you maintain a good repayment record, your credit limit will continuously increase, helping you easily meet various financial needs.
Our Advantages:
- Daily interest, flexible and convenient: Interest is charged on a daily basis, so you can enjoy a more flexible borrowing
- experience without having to worry about the burden of long-term interest.Exclusive credit limit, real-time management: Each user has an exclusive credit limit, which is adjusted in real time according to your repayment behaviour, allowing you to continuously increase your limit.
- Credit enhancement, credit limit increase: Enhance your credit score by making timely repayments to obtain a higher credit limit and enjoy more favourable interest rates.
- Guaranteed security and privacy: Bank-grade encryption technology ensures the safety of your personal information and transaction data, giving you peace of mind.
Loan Detail:
- Credit limit amounts: Ksh 1,000 to Ksh 200,000
- Loan Term: 91 days to 121 days
- Technical service fee is charged on the term of credit you borrow, ranging from 0.05%-0.1%
- Daily interest is charged on the amount of credit you borrow, ranging from 0.005%-0.01%
- Minmum APR: 21%
- Maxmium APR: 40%
Formula APR = (Total Interest or Fees ÷ Loan Principal)×(365 ÷ Actual Loan Duration) × 100%
Loan APR Example:
Original loan amount: 5,000 Ksh
Actual amount received by the user: 5,000 Ksh
Technical service fee: 0.0667%
Daily interest: 0.0084%
Loan period: 91 days
Technical service fee calculation:
Technical service fee = 5,000 Ksh × 0.0667% × (91-1) days = Ksh 301
Technical service fee = 301 Ksh
Interest fee calculation:
Interest fee = 5,000 Ksh × 0.0084% × 91= Ksh 38
Total repayment amount:
Total repayment amount = 50,00 Ksh + Technical service fee + Total interest fee
Total repayment amount = 50,00 Ksh + 301 Ksh + 38 Ksh
Total repayment amount = 5,339 Ksh
Actual APR = ((301+38)÷ 5000) × (365÷91) × 100% = 28%
All amounts payable by you for any credit line will be displayed prior to you accepting the credit line and disbursement by us to your mobile money wallet.
Contact Us
Email:cs.help@chapeo.credit
Company Address: P.O BOX 12143-00400 NAIROBI,KENYA
Customer Service:+254 (0)717286320