If you have taken a loan through the Leja loan app, you may be wondering how to repay it. Fortunately, the process is straightforward and can be done through your mobile phone.
To begin, you will need to have an M-Pesa account, which is a mobile payment service widely used in Kenya.
To repay your Leja loan, you will need to access your M-Pesa menu and select the “Lipa na M-Pesa” option. From there, choose the “Pay Bill” option and enter the business number 977888.
Next, enter your registered phone number as the account number, followed by the payment amount and your M-Pesa PIN. Once you have confirmed the details, your payment will be processed and applied to your Leja loan account.
How to Repay Leja Loan
Repaying a loan through Leja Loan App is designed to be simple and straightforward. The app provides an intuitive interface that guides users through the repayment process.
Here’s how to repay your Leja loan:
- Open the Leja Loan App on your mobile device.
- Log in to your account using your registered phone number and password.
- Once you are logged in, tap on the “Repay Loan” button on the home screen.
- Select the loan you want to repay from the list of active loans.
- Choose your preferred repayment method from the available options, including M-PESA, Airtel Money, and Equitel.
- Enter the amount you want to repay and confirm the transaction.
- Wait for a confirmation message from Leja Loan App and your mobile money service provider.
It’s important to note that Leja Loan App charges a late repayment fee of 10% of the outstanding loan balance for loans that are not repaid on time. Therefore, it’s advisable to repay your loan on or before the due date to avoid incurring additional charges.
In case you encounter any challenges during the repayment process, you can contact Leja Loan App customer care through the app’s “Help Center” or by calling their customer care number, which is available on their website.
Understanding Leja Loan App
If you are looking for a simple and straightforward way to manage your finances and access loans, Leja Loan App might be the perfect solution for you. Here are some key things you should know about the app:
What is Leja Loan App?
Leja Loan App is a digital platform that provides small business owners and entrepreneurs with access to financial services, including loans, cash management, and bookkeeping.
The app is designed to be user-friendly and intuitive, making it easy for anyone to use regardless of their level of financial expertise.
How does Leja Loan App work?
To use Leja Loan App, you will need to download the app from the Google Play Store and create an account. Once you have set up your account, you can use the app to manage your finances, including tracking your expenses, creating invoices, and managing your cash flow.
If you need to access a loan, you can apply for one directly through the app. The app will guide you through the application process and provide you with a decision on your loan application within minutes.
What are the benefits of using Leja Loan App?
One of the main benefits of using Leja Loan App is that it provides you with access to a range of financial services in one convenient platform. You can manage your finances, track your expenses, and access loans all from the same app.
The app is also designed to be user-friendly and intuitive, making it easy for anyone to use regardless of their level of financial expertise. Additionally, the app provides you with access to loans with competitive interest rates and flexible repayment terms.
Eligibility Criteria for Leja Loan
If you are considering taking out a loan through the Leja Loan App, it is important to understand the eligibility criteria. Leja Loan App offers loans to small business owners and entrepreneurs in Kenya.
Here are the requirements you need to meet to be eligible for a loan:
1. Business Registration
To qualify for a Leja loan, you must have a registered business. This means that you must have a valid business registration certificate from the Kenyan government.
2. Business Operations
Your business must be operational and generating income. Leja Loan App requires that you have been in business for at least six months before applying for a loan.
3. Credit Score
Leja Loan App will assess your credit score to determine your eligibility for a loan. Your credit score is a measure of your creditworthiness and is based on your credit history. A good credit score increases your chances of being approved for a loan.
4. Repayment History
Your repayment history is an important factor in determining your eligibility for a Leja loan. Leja Loan App will look at your repayment history with other lenders to assess your ability to repay the loan.
5. Loan Amount
Leja Loan App offers loans ranging from Ksh 5,000 to Ksh 50,000. The loan amount you are eligible for will depend on your business revenue, credit score, and repayment history.
By meeting these eligibility criteria, you increase your chances of being approved for a loan through the Leja Loan App.
Steps to Apply for Leja Loan
If you need a loan, applying for one through the Leja Loan app is a fast and easy process. Here are the steps you need to follow to apply for a Leja Loan:
- Download the Leja Loan app from the Google Play Store or Apple App Store.
- Create an account on the app by providing your personal information, including your name, phone number, and email address.
- After creating an account, log in to the app and select the “Apply for Loan” option.
- Enter the amount of money you want to borrow and the repayment period you prefer. The app will automatically calculate the interest and fees you will need to pay.
- Provide the required documents, which may include your ID card, bank statement, and payslip, to complete the loan application process.
- Wait for the app to process your application. You will receive a notification once your application is approved or rejected.
- If your application is approved, the loan amount will be credited to your Leja business wallet, and you can withdraw it to your bank account or use it to make payments directly from the app.
It is essential to note that the loan application process may vary depending on the type of loan you want to apply for and your credit score. However, following the above steps will give you a general idea of what to expect when applying for a loan through the Leja Loan app.
Repayment Period and Interest Rates
When you borrow a loan from Leja Loan App, you will be required to repay the loan within a specific period. The repayment period for Leja loans ranges from a minimum of 65 days to a maximum of 120 days.
This flexibility allows borrowers to select a repayment period that suits their financial situation and repayment capabilities. However, it is important to note that the longer the repayment period, the higher the interest rates.
Leja Loan App offers competitive interest rates for its loans. The interest rate charged varies depending on the amount borrowed and the repayment period selected.
The interest rates for Leja loans range from 1.5% to 5% per month. It is important to note that the interest rates are subject to change, and borrowers should always check the current rates before applying for a loan.
To ensure that you can repay your loan on time, it is important to carefully consider your financial situation before applying for a loan. You should only borrow what you can afford to repay comfortably.
It is also important to make sure that you have a clear understanding of the terms and conditions of the loan, including the repayment period and interest rates.
Possible Penalties for Late Repayment
When you borrow money from Leja Loan App, it is important to repay the loan on time to avoid late payment penalties. If you are unable to repay the loan on time, you may incur additional charges and fees.
Leja Loan App does not charge any amount beyond the facilitation fee, except for a one-time late payment fee that may apply if you fail to repay the loan within the specified grace period. The repayment period for Leja loans ranges from a minimum of 65 days to a maximum of 120 days.
Late payments can have a negative impact on your credit score and may make it more difficult for you to obtain credit in the future. It is important to contact Leja Loan App as soon as possible if you are experiencing financial difficulties that may prevent you from making your loan payments on time.
If you are unable to make your loan payments on time, you may be charged additional interest and fees. These fees can add up quickly and make it more difficult for you to repay the loan in full.
It is important to understand the terms of your loan agreement and the penalties for late payments before you borrow money from Leja Loan App.
Benefits of Timely Repayment
Repaying your Leja loan app on time can provide you with several benefits. Here are a few reasons why timely repayment is important:
1. Improve Your Credit Score
When you make timely repayments, it shows that you are a responsible borrower. This can help improve your credit score, which is a measure of your creditworthiness. A good credit score can make it easier for you to get approved for credit in the future and may also help you get better interest rates.
2. Avoid Late Payment Fees
If you fail to make your payments on time, you may be charged late payment fees. These fees can add up quickly and make it harder for you to repay your loan. By making timely repayments, you can avoid these fees and keep your loan balance under control.
3. Maintain a Good Relationship with the Lender
When you make timely repayments, you are showing that you value your relationship with the lender. This can help you maintain a good relationship with them, which may be helpful in the future.
For example, if you need to borrow more money, the lender may be more willing to work with you if you have a good repayment history.
4. Reduce Stress
Debt can be stressful, especially if you are struggling to make your payments. By making timely repayments, you can reduce your stress levels and feel more in control of your finances. This can help you focus on other areas of your life and improve your overall well-being.
Troubleshooting Repayment Issues
If you are experiencing issues repaying your Leja loan app, here are some troubleshooting tips to help you resolve the issue:
Check Your M-Pesa Balance
Before making any payment, ensure that you have enough M-Pesa balance to cover the loan repayment amount. If your M-Pesa balance is insufficient, you won’t be able to repay your loan. To check your M-Pesa balance, dial *234# and follow the prompts.
Confirm Payment Details
Ensure that you have entered the correct payment details, including the business number, account number, payment amount, and M-Pesa PIN. Any errors in the payment details can cause a payment failure or delay.
Contact Customer Support
If you have tried the above troubleshooting tips and are still experiencing issues repaying your loan, you should contact Leja loan app customer support. They will be able to assist you in resolving any payment issues and provide you with further guidance on how to repay your loan.
Late Payment Fees
It’s important to note that late payment fees may be charged if you fail to repay your loan on time. Therefore, it’s essential to ensure that you make your loan repayment on or before the due date to avoid any additional fees.
By following the above troubleshooting tips, you should be able to resolve any repayment issues with your Leja loan app and avoid any late payment fees. If you are still experiencing issues, don’t hesitate to contact customer support for assistance.
Contacting Leja Customer Service
If you ever encounter any issues with your Leja loan app, there are several ways to reach out to the customer service team. Here are some of the ways you can contact them:
1. In-App Chat Support
The Leja loan app has a built-in chat support feature that allows you to get in touch with their customer service team. To access this feature, simply open the app and tap on the “Support” button located on the bottom right corner of the screen. From there, you can type in your question or concern and a customer service representative will assist you.
2. Email Support
If you prefer to communicate via email, you can reach out to Leja’s customer service team by sending an email to their support email address: [email protected]. Make sure to include your name, phone number, and a detailed description of your issue or concern.
3. Phone Support
You can also contact Leja’s customer service team via phone by calling their hotline number: +254 20 765 0878. This is the best option if you need immediate assistance or if you prefer to speak with a customer service representative directly.
4. Social Media
Lastly, you can also reach out to Leja’s customer service team via their social media accounts. They have active accounts on Facebook, Twitter, and Instagram. Simply send them a direct message or tag them in a post and a customer service representative will respond to you as soon as possible.
Overall, Leja provides several ways to contact their customer service team, ensuring that you can get the help you need whenever you need it.
