Mobile lending platform Tala has unveiled a flexible credit option that will allow customers to repay loans matching their income cycle or salary pay date.
Under the ‘Jichagulie Due Date’, borrowers will get lower interest fees depending on the chosen duration of up to 60 days.
Tala Country Growth Manager Annstella Mumbi said customers can pay in full or make partial payments before their due date, with those who make timely payments earning more favourable terms over time.
“This product was developed after a rigorous user research process in collaboration with our customers,” she said.
“This new flexible credit option will give borrowers the power to choose the due date that works best for them, not Tala.”