SKIP-A-PAY

What is Skip?

Wazalendo allows any and all of its clients to skip their monthly obligations after every 90 days, for a fee, and skipping does not impact your credit rating with us in any way, form or shape.

Loans eligible for skips

Skip applies to all loans except Kwik Cash, or new clients whose loans or membership is less than 90 days old.

Eligibity criteria

To be eligible, your loan must have been open for at least six months and be in good standing. You may also not be eligible based on other reasons, such as being continuously late on your mzunguko contributions, or any circumstance that wazalendo deems derogatory related to your account.

Is there a fee?

Yes, there is a 499/- fee per skip, per loan, and 599/- for assets related loans.

Does participating in the SKIP affect my credit worthiness?

Skipping doesn't affect you in any way, shape or form. If anything, it actually helps you from becoming a defaulter. However, the skip fee does not reduce your loan balance and interest will continue to accrue during skipped months.

What if I have multiple lines of credit; can I use one SKIP to skip all of them?

No, each line of credit should be sorted individually. It's 499/- shillings per skip, per loan.

How often can I skip?

As long as you continue to be eligible, you may skip any eligible loan after every 90 days. however, payments cannot be skipped in consecutive months.

Can I skip at any time?

Yes, you can, but remember that you can only skip on the same loan after every 90 days, meaning you must wait at least 90 days between skips.

If you have any further questions, call or send us a message through the app or via whatsApp.