Changu Pesa
Loan amoun
TZS 800,000 - TZS 8.000,000
Loan term
91 – 210 days
Loan interest rate
Annual Rate of Return (APR): 18.25%
Loan service fees
Free
Registration requirements
Have a bank account
Payment support
Payment via bank transfer
Changu Pesa
Information
Registered Operating Area
Users must be registered and residing in Tanzania
Age Requirement
Applicants must be at least 20 years old
Income Requirement
Borrowers must have a minimum income of TZS 3,000
Phone Number Requirement
A valid mobile phone number is required for registration and account verification
Repayment Method
Loans can be repaid online or directly through the application
Document Requirement
A personal ID is required for identity verification
Initial Loan Amount
The first loan amount ranges from TZS 800,000 to TZS 8,000,000
First Loan Interest Rate
The initial interest rate is approximately 15.3%
New Customer Promotion
New users may receive flexible loan offers with fewer restrictions
Loan Interest Rate
The annual interest rate is 18.25%
Loan Term
The loan tenure ranges from 91 to 210 days, suitable for various financial needs
Approval Time
Loan applications are usually reviewed and approved within the same day
Loan Service Fee
The service is completely free of charge
Late Payment Penalty
In case of late repayment, a penalty of approximately TZS 500 per day will be applied
Changu Pesa provides clear and reliable personal loan services for users in Tanzania. Before disbursement, all loan costs and terms are fully disclosed, and users are required to complete Know Your Customer identity verification to ensure transaction security and compliance with applicable laws and regulations.
Key Features of Changu Pesa
- Identity Verification Uses valid personal identification documents combined with facial photo verification
- Credit Assessment Collects personal and employment information to analyze borrowing capacity
- Transparent Costs Displays detailed information on the principal amount, total interest, total payable amount, and due date before loan confirmation
- Convenient Disbursement Once approved, funds are transferred to the e-wallet or bank account selected by the user
Loan Example
- Loan Amount: 800,000 TZS
- Daily Interest: 800,000 × 0.0005 = 400 TZS/day
- Total Interest (210 days): 84,000 TZS
- Total Repayment Amount: 884,000 TZS
Application Advantages
- Cost Transparency All interest rates, fees, total repayment amounts, and due dates are clearly displayed before loan confirmation.
- Compliance with Tanzanian Law Loan processes and interest rates comply with local financial regulations.
- Secure KYC Verification Identity verification using official documents and facial recognition helps reduce fraud risks.
- Appropriate Loan Limits Loan amounts of up to 800,000 TZS, suitable for common personal financial needs.
- Flexible Loan Tenure Loan terms range from 91 to 210 days, allowing borrowers to plan repayments proactively.
- Convenient Disbursement Funds are transferred directly to the registered e-wallet or bank account.
- Clear Interest Calculation Formula Users can easily review and understand the cost of their loans.
Addressed Limitations
- Mandatory KYC Verification Users must complete full identity verification before loan approval
- Credit-Based Loan Limits Not all users are eligible for the maximum loan amount
- Service Available Only in Tanzania The application currently serves domestic users only
- Fixed Interest Rates per Regulations Users cannot negotiate interest rates outside the published framework
See more
FAQ
The application does not require a guarantor. Borrowers only need to provide complete and accurate information.
Yes. All information, such as principal, interest rate, service fees, amount due, and due date, is displayed in full before you confirm the loan.
Once approved, the loan funds will be transferred directly to the e-wallet or bank account you registered.
The system will review your payment history to adjust the appropriate limit for future loans.
Loan Calculator
Based on the loan amount
Enter all the required parameters into the calculator to get an accurate monthly payment along with a visual representation of the interest percentage
I want to borrow
Term / Days
%/day
Loan Amount
10 000 000
$
Interest
70 000
$
Total Repayment
10 070 000
$
Annual Interest Rate
18
%
Number of Loans
Author:
Sabiha Sathi
Sabiha Sathi is an experienced financial expert in the fields of credit and lending, currently serving as the Content Manager for the website. With a user-centric approach, she focuses on sharing carefully curated information about trustworthy online loan applications and is committed to delivering clear, fast, and effective borrowing solutions tailored to specific financial needs.
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