Lendplus Loan Application. Lendplus Loan is an instant online loan service that provides affordable loans to Kenyan citizens. The objective of this loan is to provide clients with quick money to resolve emergency financial needs such as hospital bills, and school fees, among others.
LendPlus Loan Requirements
Persons interested in applying for a LendPlus loan must meet the following requirements;
| Amount | 500 KES to 40,000 KES |
| Term | From 61 days including all loan extend |
| Interest rate | 2,2% per day |
| Processing time | 5-15 minutes |
| Age of borrower | 23-62 years old |
| Occupation | Currently employed or with a stable source of income |
| Location | Kenyans who are currently living in Kenya |
| What are the requirements | National ID, Mobile phone |
Read Also: How to Apply for Hustler Fund Loan
How to Borrow Money on LendPlus Loan App
Clients can borrow money on the LendPlus loan app once they meet the application requirements with these steps;
- Download the LendPlus Loan app from the Google Playstore
- Lunch the app once the download completes and click on the register button
- Fill out the registration form with all the required details
- First name, Last name
- National ID Number
- Gender
- Click on the Continue button to complete your registration
- Enter the amount you want to borrow (NB: 500 KES to 40,000 KES)
- Click on the submit button to complete your loan application
Read Also: How to Apply for HELB Civil Servants TRF Loan Online
LendPlus Loan Interest Rate
- LendPlus charges a minimum annual percentage rate of 3.65% including fees while maintaining a maximum APR, excluding the stock of up to 730%.
- Example: For a Ksh 10,000 loan of 61 days, under 2,2% per day, the consumer will pay 18,540 as the total cost of the loan (minimum interest rate)
- For a Ksh 10,000 loan applied for 61 days under 3.0%, the total cost of the loan will stand at Ksh 28,300
- The loan amount and terms depend on the borrower’s eligibility criteria, such as income status and creditworthiness.
Read Also: HELB Scholarship Application
How to Repay your LendPlus Loan
LendPlus loan has made it easy for clients to repay their loans using any of their available loan repayments channels such as bank transfer, debit card, or paybill number. In this section, we will assist you with steps on how to repay your LendPlus Loan using M-Pesa paybill.
- Dial the M-Pesa shortcode on your phone
- Choose Paybill
- Select Lipa na Mpesa
- Enter the Business Number (4073865)
- Select Account Number (ie Safaricom Mpesa Number)
- Enter an amount to repay
- Enter your Mpesa PIN and send your request
Read Also: Mhasibu SACCO Portal
LendPlus Loan Questions and Answers
How quickly can I receive funds after my loan is approved?
- We strive to provide a fast service. Our loan decision typically takes 5 to 15 minutes. Once it is approved, the funds will be deposited into your account within a business day.
What is the interest rate for the loan?
- LendPlus interest rate is 2,2% per day. This is subject to change and current rates can be checked on our website.
Is LendPlus loan app legit?
- Yes, the LendPlus loan app is legitimate. It’s a registered financial service provider in Kenya offering online lending services to eligible borrowers. The company adheres to the regulations set by the financial authorities and maintains high standards of transparency and customer service. All transactions are secured to protect users’ information and ensure privacy.
