Not sure which loan is right for you?
Register for free on JustMoney to compare personal loans side by side, check your credit score at no cost, and see which lenders you’re most likely to qualify for before you apply.
Button: Register for free
Letsatsi Finance and Loan (Pty) Ltd is a South African micro-lender established in 1999. It runs more than 50 branches across all nine provinces from a head office in Morningside, Sandton, and lends to salaried, permanently employed people who need smaller amounts quickly.
It offers four loan types. A one-month loan of R500 to R7,000 is repaid in a single instalment on your next pay date. A short-term loan of R500 to R7,000 is repaid over two to six months. A long-term loan starts at R3,000 and is repaid over 7, 9 or 13 months. A debt consolidation loan combines several existing loans or accounts into one, with one interest rate. Letsatsi does not publish a maximum for its long-term or consolidation loans.
Letsatsi does not publish its interest rates. It states that interest and fees are set in line with Chapter 5 of the National Credit Act. Its FAQs set out the initiation fee formula: R165 on the first R1,000 advanced plus 10% of the amount above R1,000, plus VAT, capped at 15% of the loan amount or R1,050 plus VAT. A monthly service fee and a Credit Protection Insurance premium are added to your repayments.
To qualify, you must be a South African citizen aged 21 to 60, earn at least R3,500 a month paid into your bank account, and have been permanently employed for more than six months. You need your ID, two months' payslips, three months' bank statements and proof of residence. Letsatsi says approval is communicated within an hour, and payment is made the same day once your contract is signed.
Letsatsi is a registered credit provider (NCRCP895) and an authorised financial services provider (FSP 43543). All loans are subject to the National Credit Act, No. 34 of 2005.
Tip: Letsatsi Finance will never ask you for upfront service, credit life or registration fees, or for your ATM PIN. Its emails come from letsatsifinance.co.za addresses, not Gmail. Here is how to identify loan scams if a message looks wrong.
Letsatsi Finance Personal Loan: fees and key details
Fee / Feature | Detail |
One-month loan | R500 to R7,000, repaid in one instalment on your next pay date |
Short-term loan | R500 to R7,000, repaid over 2 to 6 months |
Long-term loan | From R3,000, repaid over 7, 9 or 13 months; maximum amount not published |
Interest rate | Not published; set under Chapter 5 of the National Credit Act |
Maximum interest rate | Short-term credit (up to R8,000, repaid within six months): 5% a month on a first loan and 3% a month on further loans in the same year. Longer unsecured loans: 28.25% a year |
Initiation fee | R165 on the first R1,000 plus 10% of the amount above R1,000, plus VAT; capped at 15% of the loan or R1,050 plus VAT |
Monthly service fee | Charged monthly; amount not published (legal maximum R69 including VAT) |
Credit Protection Insurance | Included in the loan contract; covers death, permanent disability and retrenchment. You may use your own cover with proof |
Age | 21 to 60 |
Minimum income | R3,500 a month, paid into your bank account |
Employment | Permanent, for more than six months |
Citizenship | South African citizens |
Collateral required | No (unsecured) |
Approval time | Within one hour of application |
Payout time | Same day once the contract is signed; Letsatsi's FAQs say within 24 hours of approval |
Judgements | You may still apply, subject to a credit check and affordability assessment |
Debt review or administration | Not accepted |
Application channels | Online in four steps at letsatsifinance.co.za, at a branch, or through the call centre |
Branches | More than 50, across all nine provinces |
Trading hours | Monday to Friday 08h00 to 17h00; Saturday 08h00 to 12h00 |
Contact numbers | Call centre 0860 992 998; head office 011 802 4073 |
Head office | 222 Rivonia Road, Morningside Close Office Park, Morningside, Sandton |
Credit provider registration | NCRCP895 |
FSP number | FSP 43543 |
Other products | Funeral cover for you and up to 12 extended family members, an education policy, credit repair and financial education |
Interest is capped by law, not just by Letsatsi. A loan of up to R8,000 that is repaid within six months counts as short-term credit, priced per month rather than per year. Longer loans are unsecured credit, capped at the repo rate plus 21%, which is 28.25% a year since the Reserve Bank lifted the repo rate to 7.25% on 25 September 2026.
Cost example
Letsatsi does not publish a representative example. To show how the fees add up, JustMoney calculated two illustrative loans at the maximum charges the National Credit Act allows. These are not Letsatsi quotes, and they exclude the Credit Protection Insurance premium.
Scenario | Interest | Initiation fee (incl VAT) | Service fee | Total repaid |
R2,000 one-month loan, first loan in the year (5% a month) | R100.00 | R304.75 | R69.00 | R2,473.75 |
R10,000 long-term loan over 13 months at 28.25% a year, initiation fee added to the loan | Included in instalment | R1,207.50 | R69 a month | R14,037.22 (R1,079.79 a month) |
The one-month example shows where small loans get expensive. The initiation fee of R304.75 is three times the interest of R100, so borrowing R2,000 for a month can cost R473.75, close to a quarter of what you borrowed. On a second loan in the same year the interest cap drops to 3% a month, but the initiation fee and service fee still apply in full.
On the longer loan, the fees matter less in proportion, but the initiation fee, 13 service fees and 13 months of interest together add just over R4,000 to a R10,000 loan at the legal maximum.
Important notes
New clients need original documents. Letsatsi asks first-time borrowers for printed payslips stamped by their employer and bank statements stamped by their bank. Existing clients may submit electronic copies. A bank statement can double as proof of residence if it shows your initials, surname and full current address.
The documents list depends on the loan. The one-month and short-term loan pages ask for two months' payslips, while the long-term loan page asks for three months' payslips plus settlement letters. Check with your branch before you go in.
Credit Protection Insurance is part of the contract and covers the original loan term. You may use your own policy instead, as long as you provide proof of cover. Our guide to credit life insurance explains what to compare.
Letsatsi's terms allow it to verify your identity with the Department of Home Affairs and to run credit and criminal checks when you apply. Its terms can also change without notice, so the quotation you sign is what counts.
To settle early, ask your branch or head office for a settlement letter by completing a request form. It takes three to five working days. Once the loan is paid, your branch can issue a paid-up letter.
Key features and benefits
1. Four loan types for different needs
Letsatsi separates its lending into one-month, short-term, long-term and consolidation loans. That lets you match the repayment period to the expense, rather than stretching a small emergency over a year or squeezing a big cost into a month.
2. Small amounts from R500
Many lenders start at R2,000 or more. Letsatsi's one-month and short-term loans start at R500, which suits a small, specific shortfall such as a medical bill or a car repair.
3. A quick answer and same-day payout
Letsatsi says it communicates approval within an hour of your application, and pays out the same day once the contract is signed and your bank details are captured.
4. A branch near most people
With more than 50 branches across all nine provinces and Saturday morning hours, Letsatsi suits borrowers who prefer to sort out a loan face to face, or who want a branch to go back to for statements and settlement letters.
5. Judgements are not an automatic decline
Letsatsi states that you can still apply if you have a judgement against you. Its consultants run a credit check and an affordability assessment instead of rejecting the application outright.
6. A long-established, registered lender
Letsatsi has operated since 1999 and is registered with the National Credit Regulator (NCRCP895) and as a financial services provider (FSP 43543).
Who should consider this loan?
This loan may suit you if you:
Have been permanently employed for more than six months and earn at least R3,500 a month.
Need a small amount, from R500 to R7,000, for a once-off expense you can repay within six months.
Prefer dealing with a branch consultant rather than applying only online.
Have a judgement on your record and have been turned away elsewhere.
Can repay a one-month loan in full from your next salary without needing to borrow again.
This loan may not suit you if you:
Are under debt review or administration, which Letsatsi cannot assist with. Our debt review questions answered explains why.
Started your job less than six months ago, or are self-employed or on contract.
Are younger than 21 or older than 60.
Need a large amount over several years, in which case compare personal loans on JustMoney for longer terms.
Are borrowing to cover regular living costs each month, where a one-month loan can turn into a cycle. Our guide to payday loans explains the risk.
What to check before you apply
1. Ask for the total repayable in writing
Letsatsi does not publish its rates, so the only way to know the cost is the pre-agreement quotation. Ask for the total amount repayable, including insurance, and compare it with what you are borrowing.
2. Match the loan type to the expense
A one-month loan is repaid in full from your next salary. Before you choose one, run your next month through the JustMoney budget calculator to make sure you can cover the repayment and your normal expenses together. If not, a short-term loan over two to six months may be safer.
3. Check your credit score first
Letsatsi runs a credit check on every application. Check your credit score on JustMoney and read how do I know if I qualify for a loan? so you know what to expect.
4. Think twice about a second loan
Letsatsi allows you to take another loan while one is still running, subject to affordability. Each new loan carries its own initiation fee and service fee. If you are struggling with several debts, read about debt consolidation and personal loans: what you need to know before adding another.
Frequently asked questions
What is Letsatsi Finance?
Letsatsi Finance and Loan (Pty) Ltd is a South African micro-lender established in 1999. It offers one-month, short-term, long-term and debt consolidation loans through more than 50 branches and online, and also sells funeral cover and education policies.
How much can I borrow from Letsatsi Finance?
One-month and short-term loans range from R500 to R7,000. Long-term loans start at R3,000. Letsatsi does not publish a maximum for long-term or consolidation loans; what you are offered depends on your income and affordability.
What are the requirements for a Letsatsi loan?
You must be a South African citizen aged 21 to 60, earn at least R3,500 a month paid into your bank account, and have been permanently employed for more than six months. You cannot apply if you are under debt review or administration.
What documents do I need?
A valid South African ID, your latest two months' payslips, your latest three months' bank statements and proof of residence dated within the last three months. New clients must bring stamped originals.
Can I get a Letsatsi loan if I have a judgement?
Yes, you can still apply. Letsatsi's consultants will run a credit check and assess whether you can afford the loan.
How long does approval take?
Letsatsi says approval is communicated within an hour of application. Once you sign the contract and your payment details are captured, the money is paid into your bank account.
What interest does Letsatsi Finance charge?
Letsatsi does not publish a rate. Interest is regulated under the National Credit Act: up to 5% a month on a first short-term loan, 3% a month on further short-term loans in the same year, and up to 28.25% a year on longer unsecured loans.
What is the Letsatsi initiation fee?
R165 on the first R1,000 advanced, plus 10% of the amount above R1,000, plus VAT. It is capped at 15% of the loan amount or R1,050 plus VAT.
Is Credit Protection Insurance compulsory?
It is included in the loan contract and covers death, permanent disability and retrenchment during the loan term. You may use your own insurance instead if you provide proof of cover. Read do you still need credit life cover when you have life cover? before you decide.
Can I take a second loan with Letsatsi?
Yes, you can apply for another loan while you have one running, subject to a credit check and affordability assessment.
How do I settle my Letsatsi loan early?
Visit a branch or contact head office and complete a request form for a settlement letter. It is issued within three to five working days.
Where are Letsatsi Finance branches?
Letsatsi has more than 50 branches across Gauteng, Mpumalanga, Limpopo, North West, the Free State, the Eastern Cape, KwaZulu-Natal, the Northern Cape and the Western Cape. Use the branch finder on letsatsifinance.co.za or call 0860 992 998.
Is Letsatsi Finance a registered credit provider?
Yes. Letsatsi Finance and Loan is a registered credit provider under NCRCP895 and an authorised financial services provider under FSP 43543.
The bottom line
Letsatsi Finance is a long-standing micro-lender built for permanently employed South Africans who need a small amount quickly and like having a branch to deal with. Its loans start at R500, it gives an answer within an hour, and a judgement on your record does not rule you out.
The catch is cost transparency. Letsatsi publishes its initiation fee formula but not its rates, and on small one-month loans the fees can outweigh the interest. Get the total repayable in writing, check your credit score on JustMoney, and compare personal loans on JustMoney before you sign, especially if you are tempted to borrow again next month.
Registration CTA (as per SmartSolve template): Speak to a coach and make good money choices! Register for a FREE call-back