wazua Sun, Dec 22, 2024
Welcome Guest Search | Active Topics | Log In | Register

6 Pages123>»
Ubapesa
Options
Previous Topic · Next Topic
ngapat
#1 Posted : Tuesday, April 24, 2018 12:40:11 PM
Rank: Member


Joined: 12/11/2006
Posts: 884
A mobile app that allows peer to peer lending and borrowing. I was looking at it as an investment option to put in some cash for lending. Lending for 10 days gives 8% returns but you are given 55% the 8% and the rest goes to ubapesa. Ive put 1k to test and see how it works. Anyone tried it?
“Invest in yourself. Your career is the engine of your wealth.”
Back to top
 Report Abusive | Report SPAM | Edit by user: Tuesday, April 24, 2018 12:42 PM | Reason: Not specified
penkon
#2 Posted : Tuesday, April 24, 2018 12:56:59 PM
Rank: New-farer


Joined: 3/12/2014
Posts: 96
ngapat wrote:
A mobile app that allows peer to peer lending and borrowing. I was looking at it as an investment option to put in some cash for lending. Lending for 10 days gives 8% returns but you are given 55% the 8% and the rest goes to ubapesa. Ive put 1k to test and see how it works. Anyone tried it?


works as quoted
Back to top
 Report Abusive | Report SPAM
winmak
#3 Posted : Tuesday, April 24, 2018 1:04:23 PM
Rank: Member


Joined: 12/1/2007
Posts: 539
Location: Nakuru
Who is the regulating authority?
For investors as a whole, returns decrease as motion increases ~ WB
Back to top
 Report Abusive | Report SPAM
mlennyma
#4 Posted : Tuesday, April 24, 2018 1:20:00 PM
Rank: Elder


Joined: 7/21/2010
Posts: 6,183
Location: nairobi
ngapat wrote:
A mobile app that allows peer to peer lending and borrowing. I was looking at it as an investment option to put in some cash for lending. Lending for 10 days gives 8% returns but you are given 55% the 8% and the rest goes to ubapesa. Ive put 1k to test and see how it works. Anyone tried it?

they are paying withholding tax and insurance meaning the authorities and cbk knows. ..I have downloaded the application ready to test with about 5k
"Don't let the fear of losing be greater than the excitement of winning."
Back to top
WWW
 Report Abusive | Report SPAM | Edit by user: Tuesday, April 24, 2018 1:21 PM | Reason: Not specified
Kwiklana
#5 Posted : Tuesday, April 24, 2018 1:44:19 PM
Rank: New-farer


Joined: 6/13/2017
Posts: 10
@ngapat and @mlennyma please do share test results with fellow wazuans.
Back to top
 Report Abusive | Report SPAM
Stiffler
#6 Posted : Tuesday, April 24, 2018 1:52:14 PM
Rank: Member


Joined: 11/7/2017
Posts: 186
Location: Nairobi
Laughing out loudly
Back to top
 Report Abusive | Report SPAM | Edit by user: Tuesday, April 24, 2018 1:58 PM | Reason: Not specified
ngapat
#7 Posted : Tuesday, April 24, 2018 2:07:44 PM
Rank: Member


Joined: 12/11/2006
Posts: 884
Stiffler wrote:
The Rate of Return though is a bit low....
Roughly 5% p.a if you invest throughout the year

How did you arrive at that %
Lending rates are as follows
8% for 10 days
9% for 20 days
10% for 30 days.
If they give you 50% of the interest, you atleast get 5% interest per month. That translates to 60% p.a if you keep lending throughout the year, without factoring compounding.
“Invest in yourself. Your career is the engine of your wealth.”
Back to top
 Report Abusive | Report SPAM
VyaBureSiachi
#8 Posted : Tuesday, April 24, 2018 2:14:56 PM
Rank: New-farer


Joined: 2/27/2018
Posts: 56
Location: Cambrian Dc
So it's just digital loan sharking?
If the radiance of a thousand suns were to burst at once into the sky that would be like the splendour of the mighty one.
Back to top
 Report Abusive | Report SPAM
ngapat
#9 Posted : Tuesday, April 24, 2018 2:19:38 PM
Rank: Member


Joined: 12/11/2006
Posts: 884
https://kenyanwallstreet...ng-lending-app-in-kenya/
“Invest in yourself. Your career is the engine of your wealth.”
Back to top
 Report Abusive | Report SPAM
ngapat
#10 Posted : Tuesday, April 24, 2018 2:22:02 PM
Rank: Member


Joined: 12/11/2006
Posts: 884
Yeah, digital shylocking but if there is money to be made with manageable risks, then lets ride
“Invest in yourself. Your career is the engine of your wealth.”
Back to top
 Report Abusive | Report SPAM
tandich
#11 Posted : Tuesday, April 24, 2018 3:13:12 PM
Rank: Member


Joined: 5/6/2008
Posts: 199
There's another one called Pezesha.

How do they handle defaults?
Back to top
 Report Abusive | Report SPAM
Corleone
#12 Posted : Tuesday, April 24, 2018 3:54:23 PM
Rank: Hello


Joined: 1/24/2018
Posts: 2
tandich wrote:
There's another one called Pezesha.

How do they handle defaults?


In most, you assume the Lender's risk. I've seen Uba Pesa has a 2 month money back guarantee in case of default.
Back to top
 Report Abusive | Report SPAM
Stiffler
#13 Posted : Tuesday, April 24, 2018 6:45:22 PM
Rank: Member


Joined: 11/7/2017
Posts: 186
Location: Nairobi
ngapat wrote:
Stiffler wrote:
The Rate of Return though is a bit low....
Roughly 5% p.a if you invest throughout the year

How did you arrive at that %
Lending rates are as follows
8% for 10 days
9% for 20 days
10% for 30 days.
If they give you 50% of the interest, you atleast get 5% interest per month. That translates to 60% p.a if you keep lending throughout the year, without factoring compounding.


Weird.
Corrected my Statement some minutes before you quoted me.
Yet your quote is referring to a Prior state...
Back to top
 Report Abusive | Report SPAM
Speculz
#14 Posted : Tuesday, April 24, 2018 7:46:27 PM
Rank: Member


Joined: 5/6/2011
Posts: 391
Location: Nairobi
Where do they compute that credit score from?
"You can't have everything. Where would you put it?" - Stephen Wright
Back to top
 Report Abusive | Report SPAM
winmak
#15 Posted : Tuesday, April 24, 2018 8:56:53 PM
Rank: Member


Joined: 12/1/2007
Posts: 539
Location: Nakuru
ngapat wrote:
Stiffler wrote:
The Rate of Return though is a bit low....
Roughly 5% p.a if you invest throughout the year

How did you arrive at that %
Lending rates are as follows
8% for 10 days
9% for 20 days
10% for 30 days.
If they give you 50% of the interest, you atleast get 5% interest per month. That translates to 60% p.a if you keep lending throughout the year, without factoring compounding.


Any ‘investment ‘ that returns weirdly higher than market rates......
For investors as a whole, returns decrease as motion increases ~ WB
Back to top
 Report Abusive | Report SPAM
washiku
#16 Posted : Wednesday, April 25, 2018 9:52:03 AM
Rank: Chief


Joined: 5/9/2007
Posts: 13,095
ngapat wrote:
Yeah, digital shylocking but if there is money to be made with manageable risks, then lets ride


All these Mobile lending Apps, including akina Mshwari, KCB Mpesa, Tala, Branch and the rest are basically digital shylocks; just like the way the so called MFIs too are more of registered shylocks.
Back to top
 Report Abusive | Report SPAM
Lolest!
#17 Posted : Wednesday, April 25, 2018 10:28:59 AM
Rank: Elder


Joined: 3/18/2011
Posts: 12,069
Location: Kianjokoma
mlennyma wrote:
ngapat wrote:
A mobile app that allows peer to peer lending and borrowing. I was looking at it as an investment option to put in some cash for lending. Lending for 10 days gives 8% returns but you are given 55% the 8% and the rest goes to ubapesa. Ive put 1k to test and see how it works. Anyone tried it?

they are paying withholding tax and insurance meaning the authorities and cbk knows. ..I have downloaded the application ready to test with about 5k

GoK doesn't act like one entity! You can be paying everything then CBK claims they have no knowledge of the company

Impressive idea though. This segment is huge. There are very many hungry Kenyans looking for small fixes
Laughing out loudly smile Applause d'oh! Sad Drool Liar Shame on you Pray
Back to top
 Report Abusive | Report SPAM
Lolest!
#18 Posted : Wednesday, April 25, 2018 10:36:07 AM
Rank: Elder


Joined: 3/18/2011
Posts: 12,069
Location: Kianjokoma
Speculz wrote:
Where do they compute that credit score from?

From some source who works with one of those popular mobile loan companies, they analyse data on a borrower's phone: SMSs etc. Certain keywords or SMS received from other lenders increase risk. They don't like gamblers.
Laughing out loudly smile Applause d'oh! Sad Drool Liar Shame on you Pray
Back to top
 Report Abusive | Report SPAM
washiku
#19 Posted : Wednesday, April 25, 2018 11:42:07 AM
Rank: Chief


Joined: 5/9/2007
Posts: 13,095
This is a very interesting concept. You can even decide who to lend to and who to borrow from.
Back to top
 Report Abusive | Report SPAM
grolut
#20 Posted : Wednesday, April 25, 2018 2:47:36 PM
Rank: Member


Joined: 9/2/2010
Posts: 563
Location: Embakasi
I've tried it with just 500 bob, got 22 bob interest for a 10 day loan after taxes. The loans have been repaid twice, I'm planning to increase it to maybe 5k and see how it goes. I read a reply to a comment on Google Play that they guarantee payment 60 days after default, not sure how they do that...breaking legs ama insurance?
In a place where thought is abandoned, freedom can become a curse.
Back to top
 Report Abusive | Report SPAM
Users browsing this topic
Guest (2)
6 Pages123>»
Forum Jump  
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.

Wazua Market Theme
Powered by YAF | YAF © 2003-2009, Yet Another Forum.NET
Copyright © 2024 Wazua.co.ke. All Rights Reserved.