Nancy Kageni Kaaria
Sep 15, 2019
Is credit risk fund refunded after complete loan payment. Is a one time payment or its every time I borrow? I just wanted to know before my loan is funded because 5 % and credit risk of Kshs 34,000 non refundable no fair at all. Borrowing Kshs 114,000 and receiving 74,000 and repay 114,000 its taking out of business. Thank you.
Suliaman Usuma likes this.
Sep 16, 2019
It can be better you claim it after completing your loan payment, but you can still cancel the loan and claim your money back, it's not one time payment it's every time you borrow, but remember only the loans b4 17 December are being funded.
Dagoretti Ndonyo, Kenya
Sep 25, 2019
how do you claim for the risk fund?
Dorothy Chepkemoi Maritim
Sep 17, 2019
The last time I checked credit risk was no longer refundable so so your calculations well
Oct 16, 2019
i sent a mail about the refund of risk fund and i have never got the message, i thought the risk fund i had paid would cover part of the risk fund of this other loan but i was perplexed to find that the risk fund of the other loan is calculated differently so i wonder what happened to amount i had payed.
Ningo- Ahwiam, Ghana
Nov 1, 2019
Please kindly stop sending me messages that I should pay for my past due loan.
The terms and conditions regarding refund of credit risks as stipulated to me was that credit risks will be refunded upon clearing all outstanding loan, yet I requested for refund severally on this platform, but your team failed to comply to your part of the agreement terms. Hence I decided to take loan and use my credit risks to offset my outstanding payment.
Therefore as much as I'm concerned I don't own zidisha team any money, and if your team want me to pay my loan arrears then they should refund my money and I'll use it to settle the loan for my credit risks is equivalent to the amount I'm left to offset. Otherwise I'm sorry I can't pay since I'm financially handicapped.
Nov 3, 2019
How can my credit risk be refunded back
Stanely Njeru likes this.
Nov 4, 2019
Hello Ochieng, refund of risk fees was ceased. Nowadays it is not refunded.
Jun 26, 2020
Jun 27, 2020
Hi Paul, unfortunately the "Risk Fees" appear to no longer be refundable - they are essentially the fee that is paid for the loan. When 10 people take a loan from Zidisha, 9 of them pay it back and also pay their Risk Fee, which covers the 10th person who defaulted on their loan and could not pay it back.
While I support the idea of a refundable risk fee, or at least making it 50% refundable, I suspect that might just see the fee doubled to compensate and it would ultimately leave fewer people able to afford the loan.
Christian Golo, Amofa Benjamin, Eric Agyei Tuffuor , Suliaman Usuma, Godfred Asumadu, Chiozya Mwanza and Anthony Sam like this.
Lusaka Zambia, Zambia
Jun 9, 2021
This should be an open explanation given by moderators and mentors.
I second this explanation. We take time to payback and whenever we have a hiccup in our finances we adjust. Zidisha has become more like a total voluntary program, which is so flexible.
I for one would love that this is highlighted.
And sensitised in your reviews. I see some using frustration instead of getting to think on how the journey has been.
The duration is unlimited because we adjust to our affordable installment. The biggest logic is that participants have to be disciplined and push until you reach to your next loan. And we are always graduating from what i for one have seen.
Zidisha deserves an applause instead of wanting to use frustration on their conditions.
The logic is not to plunge in the entire money in your project when you get the loan. Leave room for your first installments payback . So that you are adjusting according to the condition of your business or project.
No hard Feelings if you are offended in any way.
Jun 27, 2020
Please is the risk fee and service fee refundable. Explain it to me
Jul 1, 2020
Hello brother. I think Makepeace-Boyle Family has eloquently answered your question on whether the risk fee and service fee are refundable.
However, should you not be satisfied with this answer, please use the help page on your dashboard to communicate with the Zidisha team. Thank you.
Anthony Sam likes this.
May 26, 2021
I really want my credit risk fund to pay for my remaining instalments since my business is nolonger generating cash due to covid-19 pandemic, how should i go about it? Please help its urgent.
May 27, 2021
On that topic, please read this short post:
I'm sorry it's not what you wanted to hear,
but as far as I know, that's still the current policy.
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