Finally my people, a mobile lending app that cares about good crediting is here with us! HF Whizz
I understand most of you are likely to have multiple loan lending apps. Some, you probably have received a warning message to pass your name to CRB or the collection department; it’s disturbing when you don’t have the cash at hand.
Well, before dwelling deeper into the loan feature of the app, what is it exactly?
HF Whizz is the flagship proposition interms of digital transformation of Housing Finance Corporation (HFC) the banking arm of HF Group.
The app offers nine services which include paying bills, buying goods, buying airtime, and sending money to HFC account holder. Others are sending money to a
ny other bank account, sending an M-Pesa, depositing cash, loan request and sharing the app.
Interesting enough, you can budget and monitor how you spend your money using the app and in addition, you can purchase property right from the comfort of your coach in a whizz!
Unlike other fintech apps, you can actually open a bank account using HF Whizz in an instant with zero paper work involved, just your official ID name and mobile number!
Back to the loans!
With HF Whizz, you can borrow upto Sh10, 000 earning interest rates of upto 7.25 per cent. The loan amount increases based on the frequency of your transactions using the app.
Failure to pay within the given timelines, you will be charged a 6 per cent interest of the outstanding loan and given a new deadline.
While other loan lending apps are likely to list you with CRB within the first 30 days after your default, HF Whizz makes that decision after 90 days! Making it the most convenient of them all!
Also, if you have multiple loan lending apps with outstanding loans in all of them, then, good crediting from HF Whizz means you are likely to be denied the loan.
According to George Njuguna, HFC chief Information Officer says this is meant to help reduce the burden of paying debts for you as a consumer. Which I think it’s a good thing, no one wants to have multiple loans to pay but have no funds to do it. It promotes responsible lending and it’s an advantage your credit history!
Hope you found this educating; let’s engage in the comment section. More updates on how the app can be helpful to you in a Whizz is coming soon, Keep it here.