Are you in need of quick and convenient credit access? Look no further than L-Pesa Microfinance. This loan app offers a fast and reliable way to access credit when you need it, right on your mobile device.
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Getting Started
To begin using L-Pesa, download the app, register, and complete KYC. Then, you can apply for a loan in seconds. An approved loan is directly sent to your Mobile Wallet, like MTN-Uganda or Airtel-Uganda.
Why Choose L-Pesa?
L-Pesa makes accessing credit easy, with no need for paperwork, collateral, or office visits. You can apply for personal or business loans, and there are no late charges or rollover fees.
The app also helps you build your credit score to access higher limits, and offers fast loan approvals. Plus, L-Pesa takes your privacy seriously and promises to never share your information with third parties. Your data is encrypted to protect your privacy.
Loan Terms
L-Pesa offers loans ranging from 3,650.00 UGX to 2,564,900 UGX, with monthly interest rates between 2% and 16% and an effective APR of 22% to 199%. There is also a one-time loan processing fee of 3%.
Interest rates are determined by factors such as repayment history and lending cost. You can pay the loan before the due date without any charge and be eligible for another loan. Standard SMS and data charges by your mobile carrier may apply.
For example, for a 63-day loan with a principal of 73,000 UGX, the processing fee is 2,190 UGX (3%), and the interest will be 31,852 UGX. The total sum due would be 104,852 UGX, with a total duration for payment of 63 days (9 weeks).
You have the option to choose repayment terms up to 9 weeks minimum, depending on the loan amount for which you are eligible. You can decide when you are ready to repay, and repayments are done on a weekly schedule.
Penalty
If you do not repay the loan on time, you will not be able to access any loan until repayment is complete. Additionally, your loan limit will be reduced as your credit score lowers.
Repayment Instructions
Repaying your loan is easy with L-Pesa. For Uganda Airtel & MTN customers, simply dial 21077#, press 4 and enter your mobile phone number.
Then, enter the sum to pay and your L-Pesa pin. To create your L-Pesa pin, log in to your L-Pesa account, click on update profile, click on settings, click on change pin, and set your desired PIN.
Payment can be made in full or partially before the due date.
Contact Us
If you have any feedback, questions, or concerns, please e-mail L-Pesa at info@l-pesa.com or find them on Facebook.
Like their page at https://web.facebook.com/lpesaugx and visit their website at http://www.l-pesa.com/.
You can also contact them on WhatsApp at +254743300689.
Conclusion
Overall, L-Pesa offers a fast and reliable way to access credit when you need it. With no need for paperwork, collateral, or office visits, and the ability to build your credit score for higher limits, this loan app is a convenient option for those in need of quick credit access.