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Letsatsi Loans: 2024 Review | Apply Online

Letsatsi Loans: 2024 Review | Apply Online

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Whether you’re consolidating debt, covering an emergency expense, or paying for a special event, Letsatsi Finance and Loan have got you covered. Letsatsi loans are a readily available option for most South Africans with short or long term financial needs. 

Should you apply for a Letsatsi loan? Check out our detailed Letsatsi loans review of how this lender works and the advantages and disadvantages to help you make an informed decision.

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✅ How Much Do You Need?


Letsatsi Finance and Loan Pty Ltd is a microfinance company with more than 20 years of experience in the financial services industry in South Africa. The company has over 50 branches in all nine provinces. 

It offers a variety of financial products, including personal loans, payday loans, insurance, and debt consolation and credit management services. Letsatsi Finance was founded in 1999 and currently has its headquarters in Johannesburg, Gauteng.


  • Loan amounts:  R500 – R7000
  • Repayment terms: 1 – 6 months
  • Interest rate: 0.16% per day (60% Annual Interest Rate)
  • Types of Loans: One month loans and short term loans 


According to the Letsatsi Finance loan calculator, if you were to borrow R5000 for 6 months, your estimated monthly repayment amount would be R1 204.60. Total fees and interest will be R2 227.60. Fees include an upfront initiation fee, monthly service fees and credit insurance. Therefore, your total repayment will be R7 227.60 (estimated).


✔️ Fast approval

✔️ Quick payouts

✔️ Apply for more than one loan

✔️ Branches available nationwide


❌ Strict paperwork requirements for new clients 


Letsatsi Finance & Loan goes the extra mile by offering additional services that could benefit borrowers. For example, this lender also specialises in credit repair and financial wellness and education. 

It’s been said that South Africa has the most credit hungry borrowers1, so these services can go a long way towards helping consumers manage their money better.


Letsatsi cash loans offer short term loans of up to R7 000 over 6 months. This lender also offers long term loans and fast approval and funding. 


  • Want fast and easy approval 
  • Need a short term loan you can pay off quickly
  • Are blacklisted or have bad credit

Full Letsatsi Personal Loans Review

Take a deeper look at how Letsatsi loans work and the options available to you.

Pros Explained

Easy and fast approval. Once you provide the required paperwork, Letsatsi will quickly perform a credit and affordability check to ensure fast and easy approval within 1 hour.

Get cash quickly in your bank account. You’ll receive the money within 24 hours once approved for a loan. In contrast, regular banks can take more than five business days to fund your account.

You can get a second loan. If you already have a loan with Letsatsi, you can still take out another one as long as you can afford it. This is a benefit that you won’t find with most lenders.

Option for in-person applications. Clients can also apply for Letsatsi cash loans by visiting the nearest branch in any of the 9 provinces in South Africa. While online loans are more accessible, applying for a loan in person makes it easier to get quick answers to your questions in real time. Some consumers also appreciate the personal touch when dealing directly with a real person. 

Cons Explained 

New clients have to meet strict paperwork requirements. If you’re a new client, you need to submit original documents. Your payslips need to be printed with the company stamp. Your bank statements must also have a bank stamp. 

Some lenders offer a better option where they can connect directly to your bank to retrieve the required bank statements. The good news is that applying for a loan as an existing client will be easier since Letsatsi can use the already available electronic payslips and bank statements.

How Do Letsatsi Loans Work?

Letsatsi essentially offers one main product. You can get up to R7 000 over a maximum repayment period of 6 months. This product can be tailored to suit the following scenarios as advertised by the lender.

  • One month loan: These one month loans are designed to help with unexpected expenses, such as medical emergencies, funeral arrangements, and urgent car repairs. This is a traditional payday loan that must be repaid in full in one instalment.
  • Short term loan: Short term loans from Letsatsi Finance have a 2 to 6 month repayment period. 

This lender says it also offers long term loans from R 1 000 to R 50 000 with 3 repayment options of 7, 9, or 13 months. These are suitable for larger expenses, such as your dream wedding, home renovation, and education costs. 

Letsatsi cash loans are also suitable for debt consolidation, allowing you to pay off multiple smaller debts. This leaves you with only one monthly instalment that’s easier to manage.

Is Letsatsi Finance a Safe and Trusted Option?

Letsatsi Finance & Loans Pty Ltd is an authorised financial services and registered credit provider with the National Credit Regulator. The company has been operating in South Africa since 1999, and there are Letsatsi Finance and loan branches in all provinces. 

Although Letsatsi Finance is a legitimate lender, there are scammers out there. You should know that this lender does not use agents on Facebook or WhatsApp to process loan applications. Always verify information through the company’s official channels to protect yourself from scams. 

RandWallet also advises that you check out Letsatsi loans reviews on sites like Hellopeter. That way, you can make a more informed decision based on the experiences of other customers.

How to Apply for a Letsatsi Loan

Learn more about the Letsatsi loans online application and what you need to qualify.

What You Need to Qualify

  • Be a South African citizen between the ages of 21 and 60
  • Be permanently employed for more than 6 months
  • Have a regular monthly income of at least R3 500
  • Must have a valid bank account where your salary goes to
  • Required documents: Valid South African identity Document (ID), 2 months latest pay slips, 3 months latest bank statements, proof of residence not older than 3 months

Letsatsi Loan Application Process 

To apply, simply fill in the Letsatsi online loan application form with your personal, contact, and employment details. From there, you’ll need to complete the Letsatsi loans registration process to open an account. Once done, you can review and accept the terms and conditions, and you’re good to go. 

Alternatively, you can apply with RandWallet – it’s quick and easy. First, complete the loan comparison form to get multiple offers from lenders. You don’t have to settle for the first offer you get. Instead, compare loans by considering the interest rate, fees, repayment terms, and advantages and disadvantages. Once you accept an offer, you finalise your application to get cash in your bank account quickly.

Letsatsi Finance and Loans Contact Details

📌Letsatsi Loans Contact Number: 011 802 4073 / 0860 992 998

📌Email Address:

📌Physical Address: Head office, 222 Rivonia Road, Unit F, Morningside Close Office Park, Morningside, Sandton, Gauteng, South Africa

📌Working hours: Monday to Friday: 08h00 to 17h00 / Saturday: 08h00 to 12h00

Other Loans Like Letsatsi Loans


I already have a Letsatsi loan. Can I take out a second loan?

Yes, you could get a second loan with Letsatsi if you already have an existing loan. However, you need to pass the necessary credit and affordability checks to qualify.

Is Letsatsi Loan a scam?

No, Letsatsi Finance and Loan is a registered credit provider operating legally in South Africa. However, some scammers can act as fake agents. Be aware that Letsatsi Finance will never ask you for your one-time bank PIN, App password or card number. 

Ignore anyone inboxing you on Facebook or sending a WhatsApp with a link to fill in a form. You can only apply for a Letsatsi loan via the official website and by visiting the nearest branch.

What kind of loans does Letsatsi Finance offer?

This lender mainly offers personal loans and short term loans from R500 to R7 000 with repayment periods of 1 to 6 months. You can also apply for long term loans and debt consolidation loans.

What is the maximum loan amount for Letsatsi Finance?

The maximum loan amount for a Letsatsi short term loan is R7 000. However, Letsatsi also offers long term loans of up to R50 000.

How do I contact Letsatsi Loan?

Contact the call centre on 0860 992 998.

How long does Letsatsi take to approve?

The lender offers fast approval in 1 hour. You can get cash in your bank account within 24 hours.

Can I qualify for a Letsatsi loan if I’m blacklisted?

You may qualify for a loan if you have judgements affecting your credit score. Letsatsi Finance will perform the necessary credit and affordability checks to ensure responsible lending.

Do I qualify for a Letsatsi loan under debt review?

Unfortunately, Letsatsi Finance does not assist anyone under debt review or administration.

1The Economist: In South Africa, more people have loans than jobs. (Read the article here)

Watch Video: Letsatsi Finance – Personal Loans

Our Research Expert

Gracie Makowe is a full-time personal finance writer with 10 years of experience and a Bachelor of Commerce in Financial Management from UNISA. Learn more.