Is mkopo extra legit or Scam: mkopo extra reviews

Is mkopo extra legit or Scam: mkopo extra reviews

Mkopo extra is a mobile lending app that offers instant loans to users in Kenya. The app claims to provide loans ranging from KES 500 to KES 50,000 with a repayment period of minimum 91 days and an interest rate of 26% APR. But is mkopo extra legit or scam? How does it work and what are the benefits and drawbacks of using it? In this blog post, we will review mkopo extra and answer these questions.

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Is mkopo extra legit or Scam

Overview of mkopo extra

Mkopo extra is a mobile app that allows users to access a variety of products such as electronics, solar panels, and smartphones on credit. The app is managed by World Tech Com, a company registered in Kenya. According to the app’s description on Google Play Store, mkopo extra has created a user-friendly mobile application that allows users to effortlessly explore a diverse selection of products. The app provides a comprehensive list of products, accompanied by their specifications, enabling users to easily view and choose their preferred items.

How does mkopo extra work?

To use mkopo extra, users need to download the app from Google Play Store and create an account. The app requires users to provide their personal information, such as name, phone number, ID number, and bank account details. The app also requests access to the user’s phone contacts, SMS, location, and camera. After completing the registration process, users can browse through the products available on the app and select the ones they want to buy. The app then calculates the loan amount, interest rate, and repayment period for the selected products. Users can choose to pay a deposit or get the full amount as a loan. The app then sends the loan amount to the user’s bank account or M-Pesa account. Users can then use the money to purchase the products from the app’s partner shops. Users are required to repay the loan in installments within the specified period. The app charges a late payment fee of 5% of the outstanding balance for each day of delay.

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Mkopo extra review

Mkopo extra is a relatively new app in the market, having been launched in March 2022. The app has received mixed reviews from users on Google Play Store. Some users have praised the app for its fast and easy loan approval, friendly customer service, and wide range of products. However, some users have complained about the app’s high interest rate, hidden charges, poor quality products, and technical glitches. Some users have also reported that the app deducted money from their accounts without their consent, harassed them with calls and messages, and shared their personal information with third parties.

Is mkopo extra legit or scam?

Based on our research and analysis, we cannot conclusively say that mkopo extra is a legit or scam app. The app has some positive aspects, such as its user-friendly interface, diverse product selection, and instant loan disbursement. However, the app also has some red flags, such as its high interest rate, lack of transparency, and questionable privacy and security practices. Therefore, we advise users to exercise caution and due diligence before using mkopo extra. Users should read the app’s terms and conditions carefully, compare the app’s interest rate and fees with other lenders, and verify the quality and authenticity of the products before buying them. Users should also avoid sharing their sensitive information with the app or any third parties and report any suspicious or fraudulent activities to the relevant authorities.

What customers are saying

Here are some of the reviews that users have posted on Google Play Store about mkopo extra:

  • “This app is very good and helpful. I got a loan within minutes and bought a fridge. The customer care is very friendly and supportive. I recommend this app to anyone who needs a loan.” – John Mwangi
  • “This app is a scam. They deducted money from my account without my permission. They also sent me fake products that were damaged and faulty. They refused to refund me or exchange the products. They also threatened me with legal action when I complained. Stay away from this app.” – Mary Wanjiku
  • “This app is okay but the interest rate is too high. I borrowed KES 10,000 and I have to pay back KES 15,000 in three months. That is 50% interest. That is too much. There are other apps that offer lower interest rates. I will not use this app again.” – Peter Omondi
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Benefits of mkopo extra

Some of the benefits of using mkopo extra are:

  • It offers instant loans to users without requiring collateral or guarantors.
  • It allows users to access a variety of products on credit, such as electronics, solar panels, and smartphones.
  • It has a simple and easy registration and loan application process.
  • It has a friendly and responsive customer service team.

Pros and cons of mkopo extra

Here is a table that summarizes the pros and cons of mkopo extra:

Table

Pros Cons
Instant loans High interest rate
Diverse product selection Hidden charges
User-friendly interface Poor quality products
Friendly customer service Technical glitches
Privacy and security issues

Mkopo extra website (URL)

The official website of mkopo extra is [https://mkopoextra.com/]. However, the website is currently under construction and does not provide any useful information about the app or the company. The website only has a landing page that says “Coming Soon” and a contact form that asks for the user’s name, email, and message. The website does not have any other pages, such as about us, terms and conditions, privacy policy, or FAQ.

Mkopo extra: final verdict – worth it or not

In conclusion, mkopo extra is a mobile lending app that offers instant loans to users in Kenya. The app claims to provide loans ranging from KES 500 to KES 50,000 with a repayment period of minimum 91 days and an interest rate of 26% APR. The app also allows users to access a variety of products on credit, such as electronics, solar panels, and smartphones. However, the app has some drawbacks, such as its high interest rate, hidden charges, poor quality products, and technical glitches. The app also has some privacy and security issues, such as deducting money from users’ accounts without their consent, harassing them with calls and messages, and sharing their personal information with third parties.

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Therefore, our final verdict is that mkopo extra is not worth it. The app does not offer any significant value or advantage to users compared to other lenders in the market. The app also poses some risks and challenges to users, such as financial loss, fraud, and identity theft. We recommend users to avoid using mkopo extra and look for other alternatives that are more reliable, transparent, and affordable.

FAQs

Here are some of the frequently asked questions and answers about mkopo extra:

  • Q: How can I contact mkopo extra?
  • A: You can contact mkopo extra by sending an email to [email protected] or calling +254 700 000 000. You can also fill out the contact form on their website [https://mkopoextra.com/].
  • Q: How can I repay my mkopo extra loan?
  • A: You can repay your mkopo extra loan by using M-Pesa or bank transfer. You need to use the paybill number and account number provided by the app. You also need to pay the loan in full or in installments within the specified period.
  • Q: What happens if I default on my mkopo extra loan?
  • A: If you default on your mkopo extra loan, you will incur a late payment fee of 5% of the outstanding balance for each day of delay. You will also damage your credit score and reputation. The app may also take legal action against you or report you to the credit reference bureaus.
  • Q: How can I cancel or return my mkopo extra product?
  • A: You cannot cancel or return your mkopo extra product once you have purchased it. The app does not offer any refund or exchange policy. You are responsible for verifying the quality and authenticity of the product before buying it.
  • Q: How can I delete my mkopo extra account?
  • A: You can delete your mkopo extra account by sending an email to [email protected] or calling +254 700 000 000. You need to provide your name, phone number, and ID number. You also need to clear any outstanding loan balance before deleting your account.

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