What we know about the Lipa Later loan app.

[Update : 02.11.2021]

Lipa Later is an online platform that allows you to shop for items in different stores and pay in instalments for the products that you want. Their payments are affordable and flexible.

The Lipa later services range from offering hire purchase items in e-commerce to electronics, furniture and other areas of expertise that involve home improvements and lifestyle. Some of the most coveted products are fridges and phones.

How much is the exact cost of a loan from Lipa Later &  representative example?

Calculated costs from using Lipa Later services will depend on the period and what you take. Let’s say,

You take a 32-inch LG smart tv and A half-size Von Hotpoint fridge. The total cost for these two items will be around Ksh. 49,000. For these two items, if you pick a repayment period of 6 months, you will be paying around Ksh 9,000 or less in instalments. ( Note that the monthly instalments will vary as they send you payment reminders with the amount you need to offset for that month.) Total cost would add up to Ksh 65,000 on the 2 products.

Where can you download the Lipa Later loan app?

The lipa later services are not available in App format. Their services can only be accessed directly from the website.

You can also apply for their services through their retail partner stores.

Eligibility and requirements to get a loan from Lipa Later

Your Mpesa transaction history and form of business or money earning hustle will help Lipa Later determine how much you can get and, what products can be bought with the awarded limit.

If you don’t have that, your bank statements for the last three months will suffice.

How can you get a loan from Lipa Later?

Lipa later offers loans on items that range from a minimum of Ksh 1000 to a maximum of Ksh 800,000. Repayment periods on items are from 2 months to 12 months.

Before you proceed to take a loan anywhere, it’s advisable to be aware of the interest rates applied. For Lipa Later, this can be anything from 5% – 40%! Still interested? then follow these steps.

  1. First, you need to fill in their information requirements online, names, phone number, id and date of birth.
  2. Then follow the prompts and indicate your occupation and financial status. You will also be requested to send your Mpesa transactions for the past 6 months.
  3. The next step is to physically place you and your type of business to create a credit limit for you.
  4. You will then input your email and create a password to create an account.
  5. From there, email verification and details will be sent to you via that email.

Lipa Later Products

Once approved, browse over the vendors’ section and shop.

  1. Click on apply,
  2. Go to where to shop
  3. Select category and location.
  4. Purchase what you like from the list of shops.
  5. Make monthly payments after a month of receiving your product.

Disbursement and Repayments at Lipa Later

Lipa Later will disburse your products in 48 hours or less immediately you are qualified.

Thereafter you are required to pay back in instalments after a month after receipt of the product.

All Lipa Later payments are made through Mpesa and the Paybill number is 174199. Rather pay directly through their website on the ‘make payments’ section.

Should you wish to offset your loan with them prior to your set period, you will still be charged the whole interest on the agreed contract that you signed. Hence if you choose 6 months and come into some money in 2 months, you will still pay the full amount equitable to 6 months.

What are the penalties for late repayment of a loan at Lipa Later?

Key pointers to remember here is that Lipa Later will charge you an extra Ksh.1500 for each month you default on payments.

On top of that, Lipa later will come for their products at your house, if, you fail to pay your instalments. Remember you included your place of work? Yes, they will follow you there too.

Offers, Promotions and Rewards from Lipa Later

Lipa Later does not have any ongoing promotions. Lipa later allows you to enjoy happiness in your home by getting you the things you want and you can pay in affordable instalments. You can almost literally get anything with their help.

Contacts for Lipa Later.

To contact Lipa Later, a direct visit to their website offers support channels to Lipa Later.

Other than that, Lipa Later are on Facebook, Twitter and Instagram. Click the desired Social media hyperlink.

For queries, communication and follow-ups, drop them an Email asap and get assisted. Alternatively, if you are experiencing issues with your payment plans or whatnot, use [email protected] to reach Lipa Later.

Looking for the physical address for Lipa later? Their offices are located in

Daykio Plaza, 1st Floor, Office Suite 1.3, Ngong Lane, Ngong Road P.O. BOX 43537 – 00100. Nairobi, Kenya. Or, 

Mombasa – The Avenue Building, 1st floor, Office No. 5, Off Links Road, Nyali. Mombasa, Kenya

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