In Kenya, accessing financial services can be a daunting task for many people. Traditional banks and microfinance institutions require a lot of paperwork, collateral, and lengthy approval processes, making it challenging for most people to access loans.
LendPlus is changing the narrative by providing an online loan application that is simple, quick, and secure.
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How it Works
LendPlus allows you to borrow money quickly and conveniently from the comfort of your phone. The process is straightforward: download the app, sign up, and apply for a loan.
You will receive a response within minutes, and if your loan application is approved, the funds will be disbursed to your mobile money wallet instantly.
Eligibility
To apply for a loan on LendPlus, you must meet the following criteria:
- Be at least 18 years of age
- Employed or self-employed with a steady income
- Have a mobile number with a mobile money wallet
- Have a National Identity Card
Key Features
Simple and Quick
LendPlus offers a simple and quick loan application process. The app is easy to use, and the sign-up process is hassle-free.
You can apply for a loan at any time of the day, any day of the week. LendPlus also offers competitive fees and flexible payment terms to help you manage your finances.
Safe and Secure Loans
LendPlus values your privacy and takes it seriously. All the information you share with the app is encrypted to protect your privacy.
LendPlus promises never to share your information with third parties without your consent.
Loan Rates and Fees
LendPlus offers loans ranging from Ksh 500 to Ksh 30,000. The minimum repayment period is 61 days, including the loan extension, while the maximum repayment period is 365 days, including the loan extension.
The minimum annual percentage rate (APR) is 3.65%, while the maximum APR, excluding stock, is 730%.
To give you an idea of what to expect, let’s consider the following examples:
Minimum Interest Rate
Suppose you apply for a Ksh 10,000 loan for 61 days under a 1.0% per day interest rate. In that case, the total cost of the loan will be Ksh 16,100.
Maximum Interest Rate
Suppose you apply for a Ksh 10,000 loan for 61 days under a 2.0% per day interest rate. In that case, the total cost of the loan will be Ksh 22,200.
Depending on your loan amount, you have the option to choose different repayment terms that suit your financial situation.
Contact Us
LendPlus values your feedback and concerns. If you have any questions or concerns, you can reach out to the customer service team through the following channels:
- Email: customer@lendplus.co.ke
Conclusion
LendPlus is revolutionizing the lending industry in Kenya by offering a simple, quick, and secure way to borrow money.
With competitive fees, flexible payment terms, and a user-friendly app, LendPlus is an excellent option for anyone looking for a reliable loan provider.
Whether you need to cover unexpected expenses or bridge a financial gap, LendPlus has got you covered.