FAQs

• What is Mlezie?

  Mlezie is a school fees lending company that provides financial support to keep your child in school. We partner with schools, parents, and uniform and textbook vendors to ensure a child continues with learning without disruptions.

• Who is eligible to apply for a loan from Mlezie?

  The eligibility criteria to apply for Mlezie loan are transparent. This loan is eligible to salaried employees or anyone who has the ability to pay as a parent or guardian.

• What is the minimum and maximum loan amount am I eligible for?

  We give loans from a minimum of Ksh10, 000. The maximum loan amount is calculated by our algorithm and can go up to ksh100,000.. The authorized loan amount depends on your financial and credit history information.

• How long does it take to process an application?

  Accurate information on the application and correct documentation are key to speeding things up. The sooner you submit your application with correct documentation, the faster the process of application. Loan authorization is instant on the website or app. Once approved, money is disbursed in 48 working hours.

• What happens if the App cashes when I’m midway through my loan application process?

  We have made sure that the loan request process on our app is smooth and bug-free. But, if your app crashes at any point in time, you will be able to restart from the same step.

• My documents were collected, but no one is contacting me. What should I do?

  Your documents are getting verified by our team. Our team will get in touch with you soon. We appreciate your patience in the meantime.

• What is the status of my application?
  You can easily check the status of your application by logging into your Mlezie App.
• How do I know of my application is approved?
  Once your application is approved, you will receive an SMS from Mlezie.
• Why was my application declined? What can I improve?
  Your application can be rejected for a variety of reasons, these may include omission of certain required documents, furnishing false information, lack of a job (or other means to repay) or not meeting our internal credit worthiness criteria. This is by no means a reflection on your credibility; it simply means that our criteria and your profile are not a current match. Any material change in your credit profile would help us re-evaluate your application and lend to you in the future.
• Can I re-apply if I have been previously rejected for a loan?
  We encourage you to re-apply if you feel that your application should be reviewed or if you believe that there is a significant improvement in your creditworthiness once 3 months have passed since your last application was rejected. However, approval remains at the sole discretion of Mlezie.
• How do I cancel my application?

  You can reach out to us through our Contact Us page on the website or “Help” on the App.

• What are the interest rates offered?
  Mlezie loans start from as low as 4%.
• Do I have to pay a processing fee on the loan? At what rate will it be charged?
  Yes, we charge a small fee to process your loan. It starts from 4% of your loan amount and is decide by our system based on various factors. The applicable processing fee will be deducted from the loan amount while the remaining funds will be transferred to the school’s account.
• Is there any collateral or guarantor required?
  If you meet our eligibility criteria, no collateral or guarantor is required for the loan.
• What do you mean by credit score?
  Your credit score is a number that represents your creditworthiness. It is based on previous loans that you might have taken your promptness in paying back any loans on time. From your credit score have a bearing on your credit limit.
• How does my credit score get affected by this loan?
  Your credit score gets affected only if you’re not able to pay back the loan. With consistent repayments, your credit score will only improve.
• How is having a higher credit score beneficial?
  A higher credit score indicated that you have a good track record with respect to loans that you have borrowed in the past. Therefore, if your credit score is high, your chances of being granted a loan are much higher than if you have a lower score. Additionally, you may be able to negotiate benefits such as higher loan amount.
• How do I repay the loan?
  The loan can be repaid by use of a M-Pesa paybill number.
• Can I pay my loan before the due date and does that reduce loan fees?
  Yes, you can make payment before the due date, but an early loan payment will not reduce your existing loan fees. However, early payment is regarded as good behaviour, and could help you get higher loan amounts and better loans terms over time.
• I need a larger loan, what should I do?
  The loan limits are automatically generated based on your Mlezie score, which might not be sufficient for a higher limit at this point.
• What is a credit limit?

  Once you’re approved, you will be provided a specific Credit Limit—a measure of funds at your disposal. In simpler terms, Credit Limit is the maximum amount you can borrow from Mlezie.

• How can I get a credit limit?
  Once you have signed up, you need to apply for a line of credit using the Mlezie App. Based on the details shared in the application; you will be approved for a credit line.
• What if I change my phone or the SIM?
  If you change your phone or your SIM, you can download the Mlezie App again and restart from where you left.