Tala Gives Customers The Power To Choose Their Own Loan Due Date

By Lynnet Okumu / Published February 9, 2022 | 2:56 pm

KEY POINTS

Tala offers affordable, transparent, and one-time fees on every loan. Borrowers can pay in full or make partial payments; anytime on or before their due date.

KEY TAKEAWAYS

Kenyans can now time their due date around their next payday and other financial obligations, making repayment easier, and enjoy lower fees depending on the duration they choose.

Tala, Kenya’s leading Fintech lender, has on 9^th February launched a unique credit option dubbed ‘Jichagulie Due Date’ credit option that gives customers the freedom to choose a loan repayment date that best matches their income cycle or salary pay date.

“This new flexible credit option will give borrowers the power to choose the due date that works best for them, not Tala. And this is just the beginning. We will be introducing many new products changes this year to give Kenyans more financial access as well as the confidence to reach their financial goals,” Tala’s Country Growth Manager, Ms. Annstella Mumbi said during the launch event

Kenyans can now time their due date around their next payday and other financial obligations, making repayment easier, and enjoy lower fees depending on the duration they choose.

First launched in Kenya in 2014 and now trusted by more than 6 million customers worldwide, Tala leverages proprietary technologies to provide financial services to people that traditional finance has excluded and underestimated.

It enables responsible borrowing and advances financial literacy through a robust library of educational content, which includes articles related to loans, savings, business, and general expenses.

Also speaking at the event, Mrs. Nicola Muriuki, the company’s legal counsel added that the regulation bringing digital credit providers under CBK’s ambit will provide further opportunity for the company to innovate for the betterment of Kenyan consumers and fulfill its promise of providing financial inclusion for the underbanked majority.

While giving her keynote address, ICT, Innovation and Youth Cabinet Administrative Secretary, Maureen Mbaka, CBS lauded Tala for continuously innovating financial solutions for the 21^st-century Kenyan customer. Ms. Mbaka also applauded the company for working closely with the regulators, and hastening the regulation process.

Tala offers affordable, transparent, and one-time fees on every loan. Borrowers can pay in full or make partial payments; anytime on or before their due date. Customers who make timely payments earn more favorable terms over time, including doubling and tripling their loan limits within just a few months.