Letshego Loans: Overview, Types of loans, Requirement, Ho to apply and Repayment Method

Unlocking Financial Possibilities Letshego Loans. Your Guide to Diverse and Accessible Financial Service
Unlocking Financial Possibilities:  Letshego Loans, your Guide to Diverse and Accessible Financial Service | photo courtesy | Facebook


Letshego Group, a prominent financial institution operating across 11 countries, including Kenya, stands as a leading provider of diverse financial solutions.

This article aims to delve into the various facets of Letshego loans, exploring their features, benefits, requirements, and application processes.

What are Letshego Loans?

Letshego loans serve as flexible credit products designed to meet diverse financial needs, encompassing purposes such as business expansion, home improvements, education, and family support.

Crafted to uplift individuals and communities, these loans are not only affordable and accessible but also offer competitive interest rates and convenient repayment options.

Types of Letshego Loans

Letshego offers two primary loan categories:

Personal Loans

Personal loans cater to individual needs, allowing customers to fund education, home improvements, or kickstart a new venture.

Accessible to salaried employees with employers holding a memorandum of understanding (MOU) with Letshego, these loans feature:

  • Loan amounts range from KSH 10,000 to KSH 3,000,000.
  • Flexible tenures range from 6 months to 7 years.
  • Flat interest rates at 17% per annum.
  • There are no additional fees and there is a swift online application and approval process.
  • Disbursement within 48 hours.

MSE Purchase Order Loans

Tailored for micro and small entrepreneurs, MSE purchase order loans facilitate financing for business orders from reputable institutions.

These loans boast:

  • Loan amounts range from KSH 50,000 to KSH 5,000,000.
  • Flexible tenures spanning 1 month to 12 months.
  • Interest rates are based on the customer’s risk profile and the institution.
  • No collateral or guarantors are required.
  • Customizable repayment terms with grace periods.
  • Dedicated relationship managers provide business support.

Requirements for Letshego Loans

To apply for MSE and Personal Loans, applicants must meet the following criteria:

  • Minimum age of 18 years.
  • A valid national identification card or passport.
  • Bank account with a reputable bank.
  • Stable income source or a valid purchase order or contract.
  • Positive credit history and repayment capacity.
  • Employer’s letter (for personal loans) or institution’s letter (for MSE purchase order loans).
  • Duly filled out and signed the application form.

Applying for Letshego Loans

Online Application

  1. Visit the Letshego website.
  2. Select the country and loan type.
  3. Complete the personal profile and other sections.
  4. Upload the required documents.
  5. Accept the declaration and provide an electronic signature.
  6. If referred, enter the salesperson’s details.
  7. Click Finish and await confirmation.

Offline Application

  1. Visit the nearest Letshego branch or contact customer care.
  2. Request and complete the application form.
  3. Attach the necessary documents.
  4. Submit the form and documents to the branch or salesperson.
  5. Await verification and approval.

Repaying Letshego Loans

Repayment methods for Letshego loans include:

  • Check-off deductions from salary (for personal loans).
  • Direct deductions from invoices (for MSE purchase order loans).
  • Bank transfers or deposits to the Letshego account.
  • Mobile money transfers to the Letshego Pay bill number.

Customers can also check their loan balances and statements online or via SMS.

FAQs about Letshego Loans

What kinds of loans are available at Letshego?

Letshego offers personal loans for individual needs and MSE purchase order loans for business orders.

What are the main features of Letshego Loans?

Personal loans provide flexibility with various repayment options, including competitive interest rates and swift processing.

How can MSE Purchase Order Loans benefit entrepreneurs?

These loans facilitate business order financing without the need for collateral, offering flexibility in repayment terms and grace periods.

What do I need to apply for MSE and personal loans?

Applicants must have a valid ID, a stable income or valid purchase order, and a filled-out application form.

How can I repay MSE and personal loans?

Repayment methods include check-off deductions from salary, direct deductions from invoices, bank transfers, or mobile money transfers. Customers can check their loan details online or through SMS.

About the author

Knight Creamland

I'm Knight Creamland, an accomplished journalist with expertise in sports, entertainment, and crime reporting.
With a degree in Political Science and Sociology, I joined a leading news organization.
Over the years, I covered high-profile sports events, interviewed A-list celebrities, and exposed criminal activities.
My insightful articles offer readers a glimpse into the entertainment industry's complexities.
Recognized for my ethical journalism, I've sparked debates and positive change.
Eagerly anticipating my next compelling story, my readers and colleagues appreciate my unwavering commitment to truth and justice.

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