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.
Letshego has a number of savings products to cater to diverse financial goals.
Let’s Go Basic Savings is a versatile and customer-centric savings product that offers a wide range of benefits to individuals. With a minimum deposit requirement of just ₦500 and a maximum deposit limit of ₦10,000,000, this savings option caters to customers across different financial capacities. The annual interest rates, ranging from 2.0% to 3.0%, ensure that account holders can earn a competitive return on their savings.
With flexible terms, customers can choose a minimum term of 1 month or extend it up to a maximum of 120 months. This enables them to align their savings goals with their desired timeframes. Let’s Go Basic Savings empowers individuals to save effectively and work towards their financial objectives, regardless of their initial deposit or preferred savings duration.
Letshego has a variety of loan services to cater to your financing needs.
The Letshego Health Loan is a versatile and comprehensive financing option designed to cater to healthcare needs. With a loan amount ranging from ₦50,000 to a maximum of ₦20,000,000, individuals can access the necessary funds to cover medical expenses, ensuring they receive the healthcare they need. The payment frequency for this loan is set on a monthly basis, providing convenience and predictability for borrowers.
This Loan offers flexible repayment terms, ranging from 3 months to 36 months, allowing customers to choose a duration that suits their financial circumstances. With a monthly interest rate of 4.6%, borrowers can benefit from affordable repayments while managing their healthcare expenses. Importantly, there is no management fee associated with this loan, further enhancing its attractiveness as a financing solution. Whether it’s for medical treatments, procedures, or other healthcare-related expenses, Letshego’s Health Loan provides individuals with the necessary financial support to prioritize their well-being without unnecessary financial strain.
Letshego’s Housing Loan is designed to assist individuals in realizing their dreams of owning a home. With a loan amount ranging from ₦50,000 up to a maximum of ₦15,000,000, this loan enables borrowers to secure funds for purchasing or constructing residential properties. The payment frequency for the Letshego Housing Loan is set on a monthly basis, ensuring convenient and manageable repayments. The loan repayment terms span from 3 months to 36 months, providing borrowers with flexibility to choose a duration that aligns with their financial capabilities.
With a monthly interest rate of 4.3%, borrowers can enjoy affordable monthly instalments while working towards their homeownership goals. It is worth noting that there is no management fee associated with this loan, further enhancing its appeal. Whether it’s buying a new house or building one from scratch, Letshego’s Housing Loan provides individuals with the financial support they need to make their housing aspirations a reality.
Letshego’s Education Loan is created to support individuals in pursuing their educational aspirations. With a loan amount ranging from ₦50,000 to a maximum of ₦10,000,000, this loan enables students and parents to access funds for educational expenses such as tuition fees, textbooks, and other related costs. The payment frequency for this loan is set on a monthly basis, providing borrowers with convenience and flexibility in repayment. The loan repayment terms range from 4 months to 36 months, allowing borrowers to choose a duration that suits their financial circumstances and aligns with their educational timeline.
With a monthly interest rate of 4.5%, borrowers can benefit from affordable monthly instalments while pursuing their educational goals. Letshego’s Education Loan serves as a valuable resource to invest in education, ensuring that individuals have the necessary financial support to acquire knowledge and skills that will shape their future.
This loan is a versatile and accessible financing option designed to cater to the diverse needs of individuals. With a loan amount ranging from ₦50,000 to a maximum of ₦10,000,000, borrowers can access funds for various personal purposes such as emergencies, debt consolidation, or other financial needs. The payment frequency for the Letshego Individual Loan is set on a monthly basis. This provides borrowers with convenience and a structured repayment schedule. The loan repayment terms range from 3 months to 18 months, allowing borrowers to choose a duration that suits their financial situation and repayment capacity. With a monthly interest rate of 6.5%, borrowers can manage their repayments while addressing their individual financial requirements.
The Letshego SME loan is created to empower small and medium-sized enterprises (SMEs) in Nigeria. With a loan amount ranging from ₦20,000 to a maximum of ₦20,000,000, Letshego provides SMEs with the necessary capital to fuel their growth and expansion. The payment frequency for the SME Loan is set on a monthly basis, ensuring convenience and predictability in repayments. The loan repayment terms range from 3 months to 36 months, allowing SMEs to choose a duration that suits their business needs and cash flow. With a monthly interest rate of 5.0%, SMEs can access affordable financing to support their operations, invest in equipment, or seize new business opportunities. Letshego’s SME Loan is a catalyst for business success, providing SMEs with the financial resources they need to thrive in the competitive market landscape.
Repayment is done from the bank account provided by the customer. If such deductions fail, they are then required to make a direct deposit.
Depending on the loan amount for which you are eligible, you have the option to choose repayment terms for up to 36 months.
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.
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