Personal Loans

LendPlus First Interest-free Personal Loan: Product Details & How to Apply

Rates available from as of 1st April 2021
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LendPlus

LendPlus Interest-Free First Loan
Easy Apply
Amount
Ksh500 - 30k
Duration
5 Days
Interest Rate
Total Cost Including Institution's Other Fees
0% First Loan only (Has to be repaid in 5 Days)
Typically approved within 24 hours
visit website
Easy Apply

Loan Type

Unsecured Loans

Loan Fees

  • ‍‍Interest Minimum: 0%
  • Interest Maximum: 0%
  • Processing fee: 0
  • Late payment fee: 2% daily

Disbursement Details

  • ‍‍Application Method: App
  • Disbursement Method: Mpesa

‍Repayment Details

  • ‍‍Repayment Frequency: Bullet
  • Early Repayment: Allowed, no discount.
  • Repayment Method: Bullet

‍Eligibility Requirement

  • ‍‍Smartphone: Required
  • CRB: Experience taking and paying back other loans, currently in good standing.
  • Income: No Minimum
  • Employment: Formal employment is not required.
  • Network: M-pesa Customer

‍Documents

  • ‍‍National ID.

Representative Example of Loan Costs:

  • Example Loan Amount: ksh10,000
  • Example Tenure: 5 days
  • Representative Loan Cost: 0%
  • Total Loan Repayment Amount: ksh10,000

‍

Money254 Review

Pros

  • New Client Offer: Interest-free first loan if you choose a duration of 5 days. The loan must be repaid on time or interest will be added.
  • High limit: The first Loan Limit is Up-to 30K

Cons

  • If not repaid within 5 days, 2% daily interest is applied for the entire duration.

‍

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Money 254 is a new platform focused on helping you make more out of the money you have. We've created a simple, fast and secure way to find and compare financial products that best match your needs. All of the information shown is from products available at established financial institutions that our team of experts has tirelessly collected. Instantly search loan products from established providers in Kenya and compare on the terms that matter most to you.

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