Home » How To Apply For Letshego Micro Finance Bank Loan Online

How To Apply For Letshego Micro Finance Bank Loan Online

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 If you want to start up a business, or solve an immediate problem, or you have big goals without the finance to achieve it, Letshego Microfinance loans may be just what you need. Letshego Microfinance loan offers a variety of loan solutions. In this article, we will walk you through each step to help you begin your Letshego loans experience.

What Is Letshego Loan?

Letshego is  a Pan -African micro-finance bank that helps builds businesses and improves lives with there easy accessible loan condition . The Corporation provides financial support to customers. 

The word Letshego is a Setswana term meaning ‘support’. Letshego loans are part of the Letshego Group’s extensive portfolio of financial services, which is a publicly traded firm in Botswana. The  organization works in over ten African countries like Nigeria, Uganda, Kenya, Ghana e.t.c. Letshego Microfinance loans supports small business, as well as the public and private sector. 

Eligibility Requirements For The Letshego Loan

Below are the requirements for the Letshego Microfinance Loan

  • Customers must be employees of Government and non-government companies
  • Customers must have been in business or employment for a minimum of six months 
  • For agricultural loans, customers must have completed three production cycles. 
  • Customers must be up to 18 years and above 
  • Customers must have a very good credit history
  • Customers must be permanent resident 
  • Customers must show their national identification
  • Customers Must provide three most recent pay stubs

Types of Loans Letshego Offers Customers

  • Education loans: Letshego offers financial support to schools, tutorial centers and creches who are in financial need but do not have the means to meet their needs.  Qualified persons can get loans of up to 20,000,000 naria
  • Easy loans: This loan is great for employees of organizations who needs help to solve some personal problems like rents, medical bills and many more. Qualified candidates can access up to 3,000,000 naira. 
  • Agriculture Loans: this loan supports businesses in the agricultural field like farmers, dealers of agricultural machineries, etc. qualified persons can access up to 10,000,000 naira.
  • Health: the health loan is accessible to those in the health sector such as pharmacies, hospitals, health care etc. qualified applicants can  get up to 10,000,000 naira.
  • Consumer loan: this consumer loan is available to both government and non-government employees receiving salary regularly. Qualified customers can get up to 3,000,000 naira worth of loan. 

Basics ways to Apply for the Letshego Microfinance Loan Online

The letshego microfinance has an app called LetsGo BiG which should be downloaded first. Below are the steps on how to apply for the Letshego Microfinance loan Online: 

  • Install the app from google play store or apple store
  • The next step is to create an account on the app by filling in the necessary information such as your phone number, email address etc.
  • The next step is to sign in to your account using the login information provided at registration
  • Navigate to the mortgage application section of tha app
  • Enter your financial and personal details 
  • State the amount you want to borrow an d choose a convenient repayment time 
  • Submit your loan application
  • Wait for Letshego to authorize your mortgage 
  • If approved, kindly review the terms and conditions of the mortgage before you are issued. 

How To Repay Letshego Loans

Letshego has different repayment options but in some instances it may differ depending on your location. Below are two methods of repaying Letshego Loans: 

  • In-Person Payment: through this method, you can visit the nearest Letshego branch and make  payment. Through this option you will get a receipt for your record.
  • Automatic debit: through this method you can set up a debit order with Letshego to have them automatically withdraw the exact amount from your account on the due date.  This method helps customers to make payment when and as due. 
Letshego Microfinance Bank Loan limit

Letshego provides loans to customers ranging from $5,000 to $350,000. Please note that this is done according to your specific needs and goals. 

Letshego Microfinance Bank Interest Rates

Letshego interest rates are low, the interest rates in some countries ranges from 21% to 30%. 

Conclusion

In this article, we have seen that applying for a Letshego microfinance Loan Online is fast and easy. Through the Company’s app, you can get the loan amount you in a short period of time. All you have to do is to fill out the necessary information, submit the required documents and wait for approval.

 

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2 comments

Emmanuel May 22, 2024 - 7:24 pm

Where are your office located in various State?

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Emmanuel May 22, 2024 - 7:25 pm

Where are your office located I need a soft loan

Reply

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