Personal Loans

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

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LendPlus
LendPlus Interest-Free First Loan
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View the Loan Breakdown
Loan Amount
Ksh1k - 30k
Loan Period
5 Days
Interest Rate
Total Cost
(incl fees)
0% First Loan only (Has to be repaid in 5 Days)
Product Details
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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

‍

Our Review
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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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