After being approved for a Loan from PesaPap, Family Bank will require you to repay it within 30 calendar days from the date of disbursement. As highlighted earlier, the PesaPap loan comes with an interest of 6.62 % per month. Below is a simple guide on how to repay the loan via Mpesa.
How To Repay PesaPap Loan Via Mpesa
1. Go to your Mpesa Menu
2. Select Lipa na Mpesa
3. Select PayBill
4. Enter 222111 as the business number
5. Enter your phone number as the account number using this format 2547********
6. Enter the amount you want to repay
7. Enter your Mpesa pin and press OK
8. You will receive a transaction confirmation message from Mpesa.
Once done with this, proceed to the Pay Wallet Loan from the PesaPap wallet menu, select my Loans, then select Repay Loan.
Remember that in the event that you do not repay the Loan in full within the time prescribed by the bank from the date of disbursement of the loan, the bank will automatically roll over any outstanding amount in respect of the loan and charge a facility collection fee of 5%. This may as well result being listed by CRB.
You can contact Family Bank on 0703 095 000 if you have any further inquiries.