How to apply for Letsatsi Finance?
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Get Ready for Your Loan Application
If you’re in need of a personal loan for various reasons, Letsatsi Finance and Loans is a South African company that can fulfill your needs. They offer a wide range of financial services including short and long-term personal loans, life and funeral insurance, credit repair services, and financial education courses.
Letsatsi Finance places a strong emphasis on financial literacy and provides resources such as in-person and online courses, financial analysis, and planning. They distinguish themselves by offering long-term loans with higher amounts compared to other short-term loan providers.
Letsatsi offers three different types of loans. Their one-month loans have a repayment period of 30 or 31 days, ranging from R500 to R7,000. Short-term loans have payment plans of 2 to 6 months with the same available amounts. For long-term loans, repayment plans of 7, 9, or 13 months are available for amounts from R1,000 to R50,000. This way, Letsatsi aims to provide solutions for every stage of the customer’s financial needs.
Who is Eligible to Apply?
Letsatsi has defined the basic requirements for loan applications through their platform. To qualify for a loan with Letsatsi, individuals must meet the following criteria:
- Be a South African citizen
- Be between 21 and 60 years old
- Have a minimum income of R3,500
- Be formally employed for at least 6 months
- Receive their salary in a registered bank account
- Not be under debt review or administration
These application requirements apply to both short-term and long-term loans. Other services offered by Letsatsi Finance have their own specific prerequisites that require a closer and more personalized assessment.
The Application Process at Letsatsi Finance
For quick loans, Letsatsi offers amounts ranging from R500 to R7,000 with repayment periods of 1 to 6 months. When applying, customers can choose the amount and terms and have access to the repayment fees.
During the application process, customers are required to provide personal information such as their full name, marital status, type of employment with a start date, email address, and phone number.
For short-term personal loans, Letsatsi requires the following supporting documentation:
- Valid South African ID
- Recent payment proofs for the last 2 months
- Bank statements for the last 3 months
- Proof of residence not older than 3 months
Customers can take out multiple loans with Letsatsi as the brand offers a user login where customers can create an account and manage their usage of the platform.
For long-term loans with higher amounts, the application process is different. Customers need to provide personal and contact information on the website, and the team of consultants will get in touch as soon as possible. Additionally, customers can contact the center by phone at 0860 992 998.
All loan requests go through a credit analysis and platform verification. The processing time for short-term loans is much quicker, and funds can be deposited into the account within a maximum of 24 hours.
Looking for Other Lenders?
If you want to explore another lender option, SupaSmart Loans is a personal loan company that offers up to R200,000. They work with a panel of lenders and connect customers with a range of options. For more information, you can visit their website.
