Terms of Service

1. Acceptance of Terms

By accessing and using AutoAdvance Loan services, you accept and agree to be bound by the terms and provision of this agreement.

2. Loan Services

• Loan amounts range from KES 1,000 to KES 50,000
• Interest rates are determined based on credit assessment
• Repayment periods range from 7 days to 6 months
• All loans are subject to approval based on creditworthiness

3. Eligibility Requirements

• Must be 18 years or older
• Must be a Kenyan citizen or resident
• Must have a valid national ID
• Must have a registered M-Pesa account
• Must provide accurate personal and financial information

4. Fees and Charges

• Processing fee: 2-5% of loan amount
• Late payment penalty: 1% per day on overdue amount
• No prepayment penalties
• All fees are clearly disclosed before loan approval

5. Repayment Terms

• Repayments are due on the agreed dates
• Payments can be made via M-Pesa or bank transfer
• Early repayment is allowed without penalty
• Failed payments may result in additional charges

6. Default and Collections

In case of default:

• Late payment fees will be applied
• Your credit score may be negatively affected
• Information may be shared with credit reference bureaus
• Legal action may be taken to recover the debt

7. User Responsibilities

• Provide accurate and truthful information
• Keep your account information secure
• Notify us of any changes to your contact information
• Use the service responsibly and legally
• Report any suspicious activity immediately

8. Prohibited Uses

You may not use our services for:

• Illegal activities or purposes
• Fraudulent transactions
• Money laundering
• Financing terrorism or other criminal activities

9. Limitation of Liability

AutoAdvance Loan shall not be liable for any indirect, incidental, special, consequential, or punitive damages resulting from your use of our services.

10. Modifications

We reserve the right to modify these terms at any time. Changes will be effective immediately upon posting on our website.

11. Contact Information