Letshego Group is a multinational finance platform founded in Botswana.The institution began operations in March, 1998. Since then, the company has spread to 11 African countries-Eswatini, Ghana, Kenya, Lesotho, Mozambique, Namibia, Nigeria, Rwanda, Tanzania and Uganda.
With over 3,000 employees comprising more than 21 nationalities, the platform offers loans to government employees, private individuals, and micro and small entrepreneurs.
In Nigeria, Letshego acquired FBN Microfinance Bank in 2015 and rebranded to Letshego MFB.
For the 2021 financial year, Letshego posted over $75 million in profit before tax, growing net assets at 11% year on year.
LetsGo App Review
Letshego is a Setswana word meaning ‘Support’. True to its name, the LetsGo app, the mobile app that drives the Lethsego platform, offers its registered members a wide range of support covering various aspects of life and business.
LetsGo app also offers:
- Integration with your unique ID number to keep your finances secure.
- Personalised dashboard showing at a glance active loans & loan application.
Currently, the app has over 100K downloads on the Google Play store indicating that it has a sizable user base.
According to reviews provided by some of the users, the app offers a good experience. However, there are some technical issues. The most common problem is the frequency of software updates which slows down the app launch.
How to get a loan from Letshego on nairaCompare
- Visit https://app.nairacompare.ng/providers/letshego-microfinance-bank
- Browse through various Lethsego product offerings to select the product that best suits your need.
- Fill in all required details like name, address, phone number etc., and submit your application online.
- Once your application is approved by Letshego, you will receive an email confirming the approval and providing instructions on how to receive your loan amount.
- Follow the instructions provided in the email to complete all necessary formalities for receiving your loan amount from Letshego through nairacompare’s secure payment gateway system.
How to get a loan on the LetsGo App
1. Download the LetsGo App
The LetsGo app can be downloaded in two ways. The first is to go to their official website. To get the app, you will need to enter your mobile number where you will receive an OTP. The second option is to directly download the app from the Google Play store.
2. Complete Your Registration
The next step after a successful installation is to register. There will be instructions on-screen that you must follow. Provide all the information requested by the platform. You may also be required to verify your phone number. LetsGo will text a code to your phone. To complete the verification process, simply enter the code into the app.
3.Apply for a Loan
Once you’ve completed the registration process, you can apply for a loan.
However, to get a Payroll Loan, your employer must sign an MOU with Letshego. The first step is to search and select your employer on the list provided by the platform.
The next step is to fill out the application, upload documents and get a decision. The required documents are a valid ID, three months’ salary slip and three months’ statement of salary account.
The same process applies to other loans, but without the approval of an employer.
4. Obtain approval
Once you’ve applied for the loan, all you need to do is wait for approval. This usually takes very little time. Just make certain that you provided accurate information. You will receive the loan once you have been approved. You have the option of immediately transferring the funds to your bank account.
Letshego Interest Rates
The monthly interest rate on a Lethsego loan is between 4% to 8% and an annual percentage rate (APR) of 48% to 56%. Also, keep in mind that you can change the maximum lending amount at any time!
Letshego Loan repayment
Repayment is done from the bank account provided by the customer. If such deductions fail, they are then required to make a direct deposit.
If you are unable to pay through the app, you can pay to their account number. Before making a direct payment to their account, contact our customer service to confirm payment details.
Depending on the loan amount for which you are eligible, you have the option to choose repayment terms for up to 90 days.
Letshego Customer care
With a customer care number boldly displayed on the app, customers are assured of instant solutions to their queries. The line is however only open from 8 am to 4 pm. In addition, customer service agents provide a walk through the app using live support features and detailed in-app FAQs. You can also visit Letshego and send an email if the need arises.
Giving you a satisfactory experience is our priority, and to achieve this, we need the right partners. Therefore, all our providers are tested and trusted names in their respective categories and are regulated by the appropriate institutions and authorities.
Ready to start?
Visit https://app.nairacompare.ng/providers/letshego-microfinance-bank to read more about Letshego or Compare Providers.