Letsatsi Finance is one of the institutions that South Africans depend on when it comes to obtaining loans. There are many reasons why most South Africans make it their best choice. However, there are some people that do not know how this works.

For the above sake, this article will focuse on letsatsi finance works and how applicants can apply successfully for loans even when under debt review. There are also more to know which include, how much letsatsi can give out as loans and other information that concerns letsatsi finance.

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Letsatsi finance and loans: What to Know About the Institution.

Letsatsi finance is an authorized financial service and credit provider that offers lending options for people with the aim of helping them to cope with their financial obligations. It provides loans which include payday loans, personal loan, restructuring loan to meet financial needs of the customers.

Letsatsi finance and loan institution was established in 1999 by the current managing director, Thokozani Mahlangu. The lending institutions have been rendering services in all the 9 provinces in South Africa with almost 40 branches across the South Africa, making one of the fastest growing lending institutions in South Africa.

The lending institution as well has been providing Financial Wellbeing where it renders assistance to people on how to manage their financial lives in order not to fall into debt. In the same vein, it provides insurance policies for the users.

Letsatsi finance Loan Application

Letsatsi finance and loans can be applied both in-house means, which involves visiting one of the 40 branches in South Africa to meet with the advisors that will help to decide the type of loans that is suitable for the applicants. Advisors do come to office through Monday to Saturday.

The loan as well can be accessed online using any internet enabled devices. This one is done by visiting the official website of the letsatsi finance. It can be done anytime and any day including anywhere. However, we need to becareful while doing this as there may not be any worker of letsatsi with us while applying for this online.

Letsatsi Finance and Loans Qualifications.

Applicants must meet some requirements before they can apply for the letsatsi finance and loans. This will let the lending institution know the genuine applicants. Aside this, since the lending institution doesn’t take collateral, there must be documents that will stand in place of collateral.

The following are what are expected of the applicants before the application can be considered:

Applicant must either be a South African by birth or a stranger that has been naturalized.

Applicants should be 18 years and above and should not be older than 60 years of age.
Applicants must be permanently working in South Africa or he just started working for at least a period of 6 months.
There should be a stable source of income. He can as well be a self-employed.

There should be functional bank account with banks within South Africa.
There should be salary of at least R3500.
There should be functional mobile number as well.

The lending institution doesn’t give out loans to client under debt review. Though people that have been blacklisted can apply for loans from letsatsi finance lending institution. All its charge as well are being regulated by the, National Cash Register, NCR to ensure that there is no overcharging from applicants.

Letsatsi doesn’t offer loans to new workers. This may not be unconnected with the fact that new workers may find it difficult to get repayment. However, having worked for 6 months at least, new workers can apply for loans from Letsatsi finance.

Letsatsi Loans Online Application and other services.

Letsatsi as a lending institution has many services that it renders to its customers. Some of the services that it renders include the following:

Personal loans

Letsatsi makes it possible for applicants to apply for a personal loan to sort out some personal issues which may range from buying things and other personal needs. The personal loans that Letsatsi Finance offers include;

One-month Loan: This personal loan ranges from R500 to R800. It is expected to be repaid the following month. It can be applied just to clear some urgent issues and needs.
Short term Loan: This loan ranges from R1,000 to R100,000. This is expected to be pay back around 2 to months. This can be used to get some personal needs like lands and other properties.

Long term Loan: People still have access to secure long term loans from Letsatsi Finance if they want to invest. The duration of this loan always lies between 9 months to 36 months.

Consolidation Loan

Letsatsi Finance renders consolidation loans which are expected to be repaid between 9 and 36 months. This loan is necessitated whenever an applicant wants to clear some debts. That is he can secure this loan to clear up his previous loans.

Payday Loans

You can be offered a Payday loan which allows you to secure a loan that will be directly deduct from your bank account linking to the loan. The payment for this loan is usually from the next payment except in some cases where there is negotiation.

Restructuring of loans

Letsatsi can help you in restructuring loans. This allows borrowers to renegotiate on the conditions of the exsiting loans. Letsatsi has financial advisors that always render this service for its applicants. The lending institution talks on behalf of its applicants on restructuring of loans.

Insurance Cover

Letsatsi covers your funeral insurance. This is available for both family and single. To make it easier for people to enrol on this insurance policy, the lending institution has made the premium on this insurance to be very affordable. If starts from R92 monthly.

Financial Wellness

Letsatsi Finance as well help its applicants to get some free advice and tips on how they can manage their financial lifestyles. This can be done by offering them different pieces of advice from its seasoned financial advisors.

Letsatsi Finance Contact Number.

To make its customers, both existing and old, to get the best from them and to reach them, Letsatsi has made its phone number public. The following are contact details of the letsatsi finance lending institution:

Phone Numbers: 0918024073, 0860992998.

Website Address: click the link
Physical Head Office: 222, Rivonia Rd, Corn Alon and Michelle str., Morningside Close, Office Park, Unit F, Morningside, Sandton.

Letsatsi Finance Salary.

For those that are willing to have their career in Letsatsi, the following details is the range of the salary being paid in the institution:

Low Earners earn around R1700.
Average Earners earn around R3500.
High Earners earns around R5300.

Though some workers have complained bitterly on the stress and pressure of working there, there are many positive reviews from the workers and some benefits that workers enjoy including free tea for lunch.

Is Letsatsi Finance Legit?

Letsatsi Finance has been reviewed by some top rating ranking websites and it scores within average and high scores in virtually all these websites. This only means that the website is legit and transparent in its operation.

However, applicants need to be careful of other websites which may be parading themselves as the original Letsatsi. That is why it is always better to make some research and get the right contact details before we make any transaction with any website posing to be letsatsi Finance.

You can check this out: Get Loans without Collateral

Conclusion.

This article has made knows some useful information about Letsatsi. However, the opinions expressed here are gotten from deep research and the one of the writer, to get the first hand information about how the lending institution works, you can check the contact details that are provided above.

There may be some suggestions, advice and comment on what you have read here or any other useful topics that you have read on this website, you can kindly use the comment box.

Letsatsi Finance and Loans: (Updated 2023)