Aptic

This innovative service provides a credit limit of up to 250,000 which is determined based on the security that customers place with Aptic Credit. 

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Aptic-Overdraft

Guide to Aptic’s Overdraft Product.

The Aptic Overdraft is designed to meet the financial needs of customers, allowing them to access funds effortlessly through their mobile devices.

  • Loan Application Process:
  • Step 1: Customer logs in to the platform.
  • Step 2: Customer applies for the amount they want.
  • Step 3: Customer receives the amount on their mobile phone.
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  • Interest Rates & Fees:
    • 6%-8.5% interest rates tailored to the loan term and customer risk profile.
    • Processing fee of 5% of the loan amount.
  • Loan Repayment:
    • Monthly repayments through mobile money.
    • Penalties apply for late or missed payments to encourage timely repayment.
    • Early repayment allowed without penalties, allowing customers to save on interest costs.
  • Loan Amount: Based on the borrower’s security placed with Aptic.
  • Loan Term:1 month.
  • Interest Rate: Competitive fixed rate, based on customer profile.
  • Collateral: Motor vehicle.
  • Processing Time: Instant access via mobile phone.
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  • Business People: By offering this service, Aptic Credit aims to address unforeseen financial challenges that may arise in the course of running a business. Whether it's covering unexpected expenses, managing seasonal fluctuations in income, or seizing new opportunities, the overdraft facility can serve as a vital financial cushion. This flexibility empowers business owners to operate without the constant worry of cash shortages, enabling them to focus on growth and stability.
  • Income Verification: Proof of being in business for at least 12 months.
  • Documentation Requirement:
    • Bank and/or Mpesa statements for the past 12 months to verify cash flows
    • Copy of ID and KRA PIN
    • Business registration documents and licences
    • Motor vehicle log book jointly registered with Aptic credit.
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  • Quick Access to Funds: Fast processing and disbursement provide a reliable option for urgent financial needs.
  • Convenient Borrowing Options: The ease of access through mobile technology means that customers can manage their finances on the go, making it more convenient than ever to stay in control of thier financial obligations.
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