Personal Emergency Loan (LPEL)
A microcredit loan designed to provide financial support for eligible clients who need to meet personal emergency financial needs.
ABOUT PERSONAL EMERGENCY LOAN
Financial Support When
You Need It
The Personal Emergency Loan (LPEL) is part of Life Enhancement's Micro Credit Loan products. It is designed for eligible clients who need financial support for personal emergency needs. The loan comes with a flexible repayment structure and defined requirements relating to duration, interest, equity contribution, savings balance and collateral.
1
Loan Duration
Minimum: 1 month
Maximum: 6 months
2
Interest
Single-digit interest rate
3
Default Penalty
1% penalty charge applies to defaulters.
4
Credit Amount
The amount of credit accessed is subject to the client's savings balance.
5
Equity Contribution
20% equity contribution is required.
6
Repayment Structure
Flexible repayment structure: Daily, Weekly or Monthly.
7
Collateral
Collateral is required.
AT A GLANCE
Loan Type: Personal Emergency Loan (LPEL)
Loan Category: Micro Credit Loan
Minimum Duration: 1 Month
Maximum Duration: 6 Months
Interest: Single Digit
Default Penalty: 1%
Equity Contribution: 20%
Repayment Frequency: Daily / Weekly / Monthly
Collateral: Required
Credit Amount: Subject to Savings Balance
LOAN APPLICATION PROCESS
Apply for a Personal Emergency Loan
Step 01
Complete the Application
Complete the appropriate loan application form.
Step 02
Loan Assessment
Your application is assessed in line with the applicable loan requirements.
Step 03
Credit Assessment
The amount of credit accessed is subject to your savings balance and the applicable equity contribution.
Step 04
Repayment
Approved loans can be repaid on a daily, weekly or monthly basis.
APPLY NOW
Ready to Apply for a Personal Emergency Loan?
Complete the appropriate loan application form to begin your application process.
Complete the appropriate loan application form to begin your application process.
