LendPlus - loan app Kenya for Android

Quick summary

LendPlus is a free mobile lending application from AVENTUS TECHNOLOGY LIMITED that provides fast, on-the-go loans to users in Kenya. The app focuses on a paperless sign-up, 24/7 access, and flexible repayment schedules, while stating that personal and financial data are securely protected. Loans are disbursed directly to M-Pesa for convenience.

Core features and how to use it

• Instant disbursements go straight to your M-Pesa account, so you receive funds immediately after approval.
• The registration process is designed to be simple and digital, removing the need for paperwork.
• Borrowers can access the service any time, day or night, thanks to round-the-clock availability.
• Multiple repayment durations are offered so users can pick terms that better match their cash flow.

Loan amounts, terms, and the cost of borrowing

• Available loan sizes range from Sh500 KES up to Sh50,000 KES, with repayment windows between 61 and 365 days and options for extensions.
• Interest can be steep: the app cites daily rates around 2% (an example used 2.2% daily), and a reported maximum APR of up to 803%.
• For illustration, a Sh10,000 KES loan repaid over 61 days at a simple daily rate of 2.2% would cost Sh13,420 in interest, bringing the total repayment to Sh23,420 KES.
• Depending on your assessed eligibility, you may qualify for different loan sizes and repayment schedules.

Who can apply

• A registered mobile phone number tied to a mobile money wallet (such as M-Pesa) is required.
• Applicants must present a valid national ID.
• LendPlus requires evidence of a regular income or means to repay.
• You must be at least 18 years old and be a Kenyan resident or citizen, as the service is limited to users in Kenya.

Important considerations

• The service emphasizes data confidentiality and claims to protect personal and financial information from unauthorized access.
• While the app offers convenience and rapid access to cash, the high daily interest and elevated APR mean borrowing costs can become substantial; evaluate the total repayment before taking a loan.
• Terms, rates, and eligibility assessments are subject to change, so review the most current conditions inside the app before proceeding.