LendPlus Loan App Download and How to Apply.
Aventus Group, a prominent digital lender that has been serving customers in Europe, Asia, and Africa since 2009, is the owner of the LendPlus Loan App.
The Aventus Group, with its headquarters in Vilnius, Lithuania, has operations in a number of nations, including Vietnam, Moldova, Belarus, India, Spain, the Philippines, Kenya, Romania, the Czech Republic, and Poland. The business has a proven track record of offering cutting-edge, easily accessible digital financing solutions.
Aventus Group, the parent business of the LendPlus Loan App, has created a loan app that offers simple and quick online loan access by utilizing its vast experience in the digital lending market.
Borrowers may easily obtain funds when they need them with the LendPlus Loan App’s flexible repayment plans and affordable interest rates.
Who Can Apply for a Loan at LendPlus
The LendPlus Loan App was created to satisfy the needs of people seeking easy and quick access to online loans. The program is perfect for people who require cash for unforeseen expenses like travel, medical bills, or other urgent necessities.
Who LendPlus Is Right For?
The software isn’t meant for people who need a big loan, like one to pay for a house or other big purchase. Additionally, some borrowers with weaker credit ratings could find the app inappropriate because they might not be eligible for an online loan through the LendPlus Loan App.
Eligibility for Loan Application at LendPlus
For one to be legible to make a loan application at LendPlus, you must meet the requirements listed below:
- You must have attained 18 years or older
- You must also have a good credit score
- Must be having a National Identification card (ID) or a Valid Passport
- Must be owning a registered mobile Sim Card with an active M-Pesa account
- Lastly, you should be having a stable income i.e you must be employed or self-employed.
How LendPlus Calculates its Interests Rates, and Fees
According to the app, there are online loans available with adjustable payback durations of up to 365 days, ranging from Ksh 500 to Ksh 70,000. Additionally, there is a 61-day minimum loan payback time.
With costs included, the minimum annual percentage rate (APR) is 3.65%, and the highest APR (without the stock) is 730%.
In an Example:
The total cost of a Ksh 10,000 loan, with a minimum interest rate of 1.4% each day, over 61 days will come to 18,540 from the consumer.
The entire cost of a Ksh 10,000 loan applied for 61 days under 3.0% will be Ksh 28,300.
The borrower’s qualifying requirements, including their creditworthiness and income level, determine the loan amount and conditions.
A convenience fee is also assessed by the app, and it changes according to the loan amount and terms.
Nonetheless, the app makes sure that there are no unstated costs or penalties and that its interest rates and fees are transparent and competitive.
During the loan application procedure, borrowers can precisely calculate the costs of their loans. In addition, the app provides loan top-ups and extensions in the event that the borrower needs extra money or time to repay the loan.
Procedure when repaying your LendPlus Loan
At LendPlus, you have choices regarding where to make loan payments. You have the option of using a debit card or your confirmed bank account to make the payment. Another way to pay is with Paybill number 4073865, which is displayed below:
- Go to M-Pesa Menu and Open
- Select Lipa na M-Pesa
- Click on Paybill
- Enter the Business NumberĀ (4073865)
- Select Account Number (Which is your Safaricom Mpesa Number)
- Enter an amount you want to repay
- Enter Mpesa Pin, then send
- Wait for a confirmation Message from M-Pesa and also from LendPlus App
LendPlus Loan App Customer Review
With over 500k downloads and a 4.1-star rating on the Google Play Store, the LendPlus lending app is clearly well-liked by its users.
The majority of reviewers gave the loan app high marks for its user-friendly interface, quick approval times, affordable interest rates, and flexible payback arrangements.
Nevertheless, some customers have reported receiving multiple calls from customer service when their loans are due, while others have claimed that their loan requests were turned down without providing an explanation.
What Methodology was used to Review the Loan App
We performed a comprehensive analysis of the LendPlus Loan App to assess its effectiveness in offering quick and easy access to online loans.
We took into account its features, which included interest rates, fees, maximum loan amount and terms, and eligibility requirements.
In order to better understand the user experience, we also examined consumer reviews found on the Google Play Store.
In order to guarantee that client data was kept safe and secure, we lastly verified the security protocols. Following our analysis, we are certain that this program offers a dependable and safe means of easily and rapidly obtaining online loans.
Pros and cons of LendPlus Mobile Loan Application
Pros of LendPlus Loan App:
- Transparency: LendPlus prides itself on transparency, offering clear terms and conditions to borrowers. This transparency builds trust with customers, ensuring they understand the terms of their loans.
- Easy Accessibility: The LendPlus loan app provides a convenient platform for borrowers to access loans quickly and easily. The application process is streamlined, allowing borrowers to apply for loans from the comfort of their own homes.
- No Origination or Processing Fees: Unlike some other loan apps, LendPlus does not charge origination or processing fees. This means borrowers can access funds without incurring additional costs beyond the interest rate.
- Flexible Loan Terms: LendPlus offers flexible loan terms, allowing borrowers to choose repayment periods that suit their financial circumstances. This flexibility can help borrowers manage their repayments more effectively.
Cons of LendPlus Loan App:
- High Interest Rates: While LendPlus promotes transparency, its interest rates may be relatively high compared to other lending options. Borrowers should carefully consider the cost of borrowing before taking out a loan with LendPlus.
- Limited Loan Amounts: LendPlus may offer smaller loan amounts compared to other loan apps. This could be a disadvantage for borrowers who require larger sums of money.
- Limited Availability: LendPlus may not be available in all regions, limiting access for some potential borrowers. This could be a drawback for individuals seeking alternative lending options.
- Dependency on Digital Platforms: As a digital loan app, LendPlus relies on technology for its operations. This could pose challenges for borrowers who are not comfortable using digital platforms or who experience technical issues during the application process.
Please share your LendPlus loan story with us in the space provided below for comments.
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