Free loan tools

Compare loan offers

Two lenders rarely describe their loans the same way. Enter what each one actually gives you and actually asks back, and compare the answers instead of the sales pitch.

Offer A

Cash you receive

TZS

Fees paid separately

TZS

Each installment

TZS

Number of installments

Paid

Offer B

Cash you receive

TZS

Fees paid separately

TZS

Each installment

TZS

Number of installments

Paid

Offer C

Cash you receive

TZS

Fees paid separately

TZS

Each installment

TZS

Number of installments

Paid

	Offer A	Offer B	Offer C
Total you pay	TZS 1,400,004	TZS 1,440,000	TZS 1,280,000
Cost of the loan	TZS 400,004	TZS 490,000	TZS 280,000
Cost per TZS 1,000 received	TZS 400	TZS 516	TZS 280
Effective annual rate	92%	159%	150%
Length	12.0 months	11.1 months	6.0 months

Offer C costs the least in shillings. Offer A has the lowest effective annual rate. When the two disagree, the loans run for different lengths of time: the one with the lower rate is the cheaper money, the one with the lower total is cheaper only because you have the money for less time.

Everything is worked out on your own phone or computer. Nothing you type here is saved or sent to Kopesha or to any lender. Kopesha does not lend money; these tools are for checking offers from lenders, not an offer of credit.

Compare what you receive, not what you borrow

Many loans in Tanzania are paid out net of fees: you sign for TZS 1,000,000 and TZS 950,000 reaches your M-Pesa or your account. The fair comparison is between what arrives and what you hand back, so the first box asks for the cash you actually receive. If a fee is paid separately — in cash at the office, or as a registration charge before the loan is released — put it in the second box instead.

Why the smallest installment is often the dearest loan

In the example that loads with this page, Offer B asks only TZS 30,000 a week and feels the lightest. Over 48 weeks it takes back TZS 1,440,000 for TZS 950,000 received. Offer A's TZS 116,667 a month for a year takes back TZS 1,400,004 for a full million — less, for more money. Stretching a loan and splitting it into small weekly pieces is the oldest way to make a price feel smaller than it is.

Total cost or annual rate?

Use both. The total cost answers "how many shillings will this loan take from me". The effective annual rate answers "how expensive is this money", and it is the only fair way to compare a six-month loan with a two-year one. A shorter loan can cost fewer shillings simply because you have the money for less time, while charging a much higher rate. If you need the money for a fixed period anyway, the lower rate is the better deal.

Before you trust any of these numbers

Ask each lender for the total amount you will repay and the full schedule, in writing. A licensed lender has to give you both. If an offer's figures change between the conversation and the agreement, or a lender asks for a fee before any money has been approved, stop — that is the pattern our guide to loan scams describes.