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Terms & Conditions

Short-Term Loans

  1. These Terms constitute a contract. You are required to accept our terms and conditions  every time before  availing  a  loan. However, you have the right to withdraw youconsent at any time although this will not impact the lawfulness of the processing done prior to withdrawal.
  2. You must keep your account secure. You are responsible for maintaining the confidentiality of your password and account. Furthermore, you are entirely responsible for any and all activities that occur through the use of your account or password. You agree to immediately notify us of any unauthorized use of your account or any other breach of security.
  3. You expressly agree that, as part of the Service, you may, from time to time, receive communications from us via text message (SMS) or email, including our promotional newsletters or other information about the Service. You may stop receiving promotional messages by dialing *456*9*5*1#.
  4. You must respect our rights in the Service. We grant you a limited, non-transferable, personal right and license to use the Service and any associated software application through which it may be provided. You must not copy, decompile, reverse engineer, disassemble, attempt to derive the source code of, modify, or create derivative works of the software (except as, and only to the extent that, any of the foregoing restrictions are prohibited by applicable law or to the limited extent permitted by the licensing terms governing use of any open sourced components included within the software).
  5. In the event of a data breach, we undertake to report to the relevant local supervisory authority within seventy-two (72) hours of becoming aware of the breach. If the breach poses a high risk to you, you shall be notified within reasonable time.
  6. We may discontinue the Service. We may in our sole discretion and at any time terminate your access to the Service or discontinue providing the Service or any part of the Service, with a notice of 30 days via sms, email or any other means of communication. You agree that we will not be responsible or liable to you or any third party for modifying or discontinuing the Service, or for terminating or suspending your access to the Service.
  7. We are not liable for any damages you may incur. IN NO EVENT WILL WE OR OUR SUPPLIERS BE LIABLE FOR ANY DIRECT, INDIRECT, PUNITIVE, INCIDENTAL, SPECIAL, CONSEQUENTIAL DAMAGES, OR ANY DAMAGES WHATSOEVER INCLUDING, WITHOUT LIMITATION, DAMAGES FOR LOSS OF USE, DATA, OR PROFITS, ARISING OUT OF OR IN ANY WAY CONNECTED WITH THE USE OR PERFORMANCE OF THE SERVICE, WITH THE DELAY OR INABILITY TO USE THE SERVICE, THE PROVISION OF OR FAILURE TO PROVIDE SERVICE, OR FOR ANY LOAN OBTAINED THROUGH THE SERVICE, OR OTHERWISE ARISING OUT OF THE USE OF THE SERVICE, WHETHER BASED ON CONTRACT, TORT, NEGLIGENCE, STRICT LIABILITY, OR OTHERWISE.
  8. This contract is based on Kenyan law. These Terms are subject to, and shall be governed by, and construed in accordance with the laws of the Republic of Kenya, without reference to the principles of conflict of laws thereof. Any matters arising concerning the interpretation, validity or implementation of these Terms shall be submitted to arbitration in the English language before a sole arbitrator to take place in Nairobi, Kenya as the seat of the arbitration. The arbitration shall be conducted pursuant to the Rules of Arbitration of the Chartered Institute of Arbitration (Kenya Chapter). The arbitrator shall be appointed by agreement between the parties or in default of such agreement within sixty (60) days of the notification of a dispute, by the Chairman of the aforementioned arbitral body. To the extent permitted by applicable law, the arbitral decision shall be final and binding on the parties.
  9. We may modify these Terms. These Terms may be modified with a notice of 30 days via sms, email or any other means of communication at any time in the future.
  10. You hereby agree and authorise the company to obtain and procure your personal information obtained in the IPRS from the Govt. of Kenya and/or CRBs and you further agree and consent to the disclosure and provision of such personal information by the Govt. of Kenya and/or CRBs to the company.
  11. You warrant that the information given in this application form is true and complete and you further agree and authorize the company to obtain, procure and share your personal information/data to/from Credit Reference Bureau, or any other external database. Further, you acknowledge and consent that your data shall be collected and Stored by Little Pesa as required for them to conduct their operations or such other reasons deemed necessary. You further authorise us for your personal data being stored/transferred outside Kenya.
  12. You shall have the right to know as to how your personal data is being processed and can request for a copy of the personal data via email to info@littlepesa.com. We undertake to provide you a copy of the Personal Data held free of charge in a prescribed format within one month of receipt of the request and the format shall include
    a) The type of data being processed;
    b) The recipients of the data;
    c) The     period of time the data will be processed; and
    d) Meaningful information about how     the information is used to profile and the logic behind the processing.
  13. You shall have the right to ask for comprehensive statement of your account via email to info@littlepesa.com and we shall provide you the requisite statement on email.
  14. You have the right to request the erasure of all their Personal Data via email to info@littlepesa.com. However, this is not an absolute right and applies only in the following circumstances:
    a) If the Personal Data is no longer necessary for the     purpose it was originally collected;
    b) If the consent is withdrawn;
    c) If there is no     overriding legitimate interest to continue the processing;
    d) If the Personal Data is     being processed for marketing purposes and you object to it; or
    e) If the Personal Data     was being processed unlawfully.
  15. Acceptance by the company of your application for a loan shall be done via SMS sent to the Safaricom mobile no. registered by you with the company.
  16. The company reserves the right to decline your application for a loan or to revoke the same at any stage at the company’s sole discretion and without assigning any reason or giving any notice thereto. Loan to a minor is not allowed.
  17. You hereby irrevocably authorise the company to act on all requests received by the company from you (or purportedly from you) through the system and to hold you liable in respect thereof.
  18. Subject to approval of your application for a loan, the company shall disburse you a loan of an amount to be determined by the company in its sole discretion subject to a maximum amount of Kenya Shilling one hundred thousand (Ksh 100,000) or such other maximum amount as the company may from time to time in its sole discretion determine.
  19. The company will directly credit the loan proceeds to your MPESA account. You undertake and confirm that the loan proceeds shall not be used for money laundering, terrorism or any other illegal activity.
  20. You agree to and shall release from and indemnify the company against all claims, losses, damages, costs and expenses howsoever arising in consequence of or in any way related to the company having acted in accordance with the whole or any part of any of your requests.
  21. In consideration of the company granting you a loan, the company shall deduct interest and transaction cost of Ksh 60 per disbursement upfront from the loan amount. The interest shall be as under: —
    i) 7 days Loan at 4% flat
    ii) 15 days Loan at 6% flat
    iii) 30 days Loan at 8% flat
    iv) 62 days Loan at 18% flat
    100% Interest Refund on every 7th loan provided the previous six loans are paid on or before the due date.
  22. In case, the loan is not paid off fully, the company shall automatically roll over any outstanding amount at applicable interest rate for a period of 7/15/30/62 days plus a penalty interest of 2%. In case, the loan is not paid off within the rolled over period, the loan outstandings shall be treated as an Overdue and shall attract interest rate of 10%, 12% and 15% and 22% for every 7 days, 15 days, 30 days and 62 days’ loan periods respectively and the company may list you as a defaulter with the CRBs after giving you a notice of 30 days to this effect.
  23. You further release the CRB and the Little Pesa Ltd and its officers, employees and agents from all claims, actions or proceedings of whatsoever nature and howsoever arising, suffered or incurred in connection with this sharing and access for the purpose afore stated.
  24. You hereby authorise the company to avail any funds available to you from your employer in order to pay off the loan outstandings in case of loan default or under circumstances which the company feels that the loan is likely to default.
  25. The company shall be at liberty to engage the services of any debt collector whose charges shall be payable by you.
  26. You confirm that you have read and understood the above-mentioned terms and conditions (as amended time to time) and agree to be bound by them. You agree that you are liable for amount outstanding at any time in your account.

Flexipay

  1. These Terms constitute a contract. You are required to accept our terms and conditions every time before availing a loan. These Terms constitute a contract. You are required to accept our terms and conditions every time before availing a loan. However, you have the right to withdraw your consent at any time although this will not impact the lawfulness of the processing done prior to withdrawal.
  2. You must keep your account secure. You are responsible for maintaining the confidentiality of your password and account. Furthermore, you are entirely responsible for any and all activities that occur through the use of your account or password. You agree to immediately notify us of any unauthorized use of your account or any other breach of security.
  3. You expressly agree that, as part of the Service, you may, from time to time, receive communications from us via text message (SMS) or email, including our promotional newsletters or other information about the Service. You may stop receiving promotional messages by dialing *456*9*5*1#.
  4. You must respect our rights in the Service. We grant you a limited, non-transferable, personal right and license to use the Service and any associated software application through which it may be provided. You must not copy, decompile, reverse engineer, disassemble, attempt to derive the source code of, modify, or create derivative works of the software (except as, and only to the extent that, any of the foregoing restrictions are prohibited by applicable law or to the limited extent permitted by the licensing terms governing use of any open-sourced components included within the software).
  5. In the event of a data breach, we undertake to report to the relevant local supervisory authority within seventy-two (72) hours of becoming aware of the breach. If the breach poses a high risk to you, you shall be notified within reasonable time.
  6. We may discontinue the Service. We may in our sole discretion and at any time terminate your access to the Service or discontinue providing the Service or any part of the Service, with a notice of 30 days via sms, email or any other means of communication. You agree that we will not be responsible or liable to you or any third party for modifying or discontinuing the Service, or for terminating or suspending your access to the Service.
  7. We are not liable for any damages you may incur. IN NO EVENT WILL WE OR OUR SUPPLIERS BE LIABLE FOR ANY DIRECT, INDIRECT, PUNITIVE, INCIDENTAL, SPECIAL, CONSEQUENTIAL DAMAGES, OR ANY DAMAGES WHATSOEVER INCLUDING, WITHOUT LIMITATION, DAMAGES FOR LOSS OF USE, DATA, OR PROFITS, ARISING OUT OF OR IN ANY WAY CONNECTED WITH THE USE OR PERFORMANCE OF THE SERVICE, WITH THE DELAY OR INABILITY TO USE THE SERVICE, THE PROVISION OF OR FAILURE TO PROVIDE SERVICE, OR FOR ANY LOAN OBTAINED THROUGH THE SERVICE, OR OTHERWISE ARISING OUT OF THE USE OF THE SERVICE, WHETHER BASED ON CONTRACT, TORT, NEGLIGENCE, STRICT LIABILITY, OR OTHERWISE.
  8. This contract is based on Kenyan law. These Terms are subject to, and shall be governed by, and construed in accordance with the laws of the Republic of Kenya, without reference to the principles of conflict of laws thereof. Any matters arising concerning the interpretation, validity or implementation of these Terms shall be submitted to arbitration in the English language before a sole arbitrator to take place in Nairobi, Kenya as the seat of the arbitration. The arbitration shall be conducted pursuant to the Rules of Arbitration of the Chartered Institute of Arbitration (Kenya Chapter). The arbitrator shall be appointed by agreement between the parties or in default of such agreement within sixty (60) days of the notification of a dispute, by the Chairman of the aforementioned arbitral body. To the extent permitted by applicable law, the arbitral decision shall be final and binding on the parties.
  9. We may modify these Terms. These Terms may be modified with a notice of 30 days via sms, email or any other means of communication at any time in the future.
  10. You hereby agree and authorize the company to obtain and procure your personal information obtained in the IPRS from the Govt. of Kenya and/or CRBs and you further agree and consent to the disclosure and provision of such personal information by the Govt. of Kenya and/or CRBs to the company.
  11. You warrant that the information given in this application form is true and complete and you further agree and authorize the company to obtain, procure and share your personal information/data to/from Credit Reference Bureau, or any other external database. Further, you acknowledge and consent that your data shall be collected and Stored by Little Pesa as required for them to conduct their operations or such other reasons deemed necessary. You further authorize us for your personal data being stored/transferred outside Kenya.
  12. You shall have the right to know as to how your personal data is being processed and can request for a copy of the personal data via email to info@littlepesa.com. We undertake to provide you a copy of the Personal Data held free of charge in a prescribed format within one month of receipt of the request and the format shall include
    a) The type of data being     processed;
    b) The recipients of the data;
    c) The period of time the data will be processed; and
    d) Meaningful information about how the information is used to profile and the logic behind the processing.
  13. You shall have the right to ask for comprehensive statement of your account via email to info@littlepesa.com and we shall provide you the requisite statement on email.
  14. You have the right to request the erasure of all their Personal Data via email to info@littlepesa.com. However, this is not an absolute right and applies only in the following circumstances:
    a) If the Personal Data is no longer necessary for the purpose it was originally collected;
    b) If the consent is withdrawn;
    c) If there is no overriding legitimate interest to     continue the processing;
    d) If the Personal Data is being processed for marketing purposes and     you object to it; or
    e) If the Personal Data was being processed unlawfully.
  15. Acceptance by the company of your application for a loan shall be done via SMS sent to the Safaricom mobile no. registered by you with the company.
  16. The company reserves the right to decline your application for a loan or to revoke the same at any stage at the company’s sole discretion and without assigning any reason or giving any notice thereto. Loan to a minor is not allowed.
  17. You hereby irrevocably authorise the company to act on all requests received by the company from you (or purportedly from you) through the system and to hold you liable in respect thereof.
  18. Subject to approval of your application for a loan, the company shall grant you a loan of an amount to be determined by the company in its sole discretion subject to a maximum amount of Kenya Shilling three hundred thousand (Ksh 300,000) or such other maximum amount as the company may from time to time in its sole discretion determine.
  19. The company will directly credit the loan proceeds to your MPESA account minus transaction cost of Ksh 60 per disbursement. You undertake and confirm that the loan proceeds shall not be used for money laundering, terrorism or any other illegal activity.
  20. You agree to and shall release from and indemnify the company against all claims, losses, damages, costs and expenses howsoever arising in consequence of or in any way related to the company having acted in accordance with the whole or any part of any of your requests.
  21. You shall make down payment to us of 10% of the loan amount approved for disbursement.
  22. You agree to hand over to us post-dated cheques favouring Little Pesa Ltd for the equated instalments before disbursement of the loan. Pre-payment of the loan is permissible after 3 months. In case of pre-payment, you shall be charged interest applicable for 3/6/9 months.
  23. We shall confirm your equated monthly instalment, the repayment period, the interest rate and the dates of the instalments by email, sms or any other form of communication. Our rates of interest are 6%, 5.5%, 5% and 4.5% p.m. for repayment periods of 3 ,6 ,9 and 12 months respectively. The loan shall enjoy interest refund of 0.5% p.m. provided all instalments are paid
    on time. We may alter the rates of interest by giving you a notice of 30 days via sms, email or any other means of communication.
  24. In case, you fail to make any payment due to us on the due date, we shall be authorised to apply a penalty interest of 4% over the applicable rate on the overdue amount. Further, the loan shall be considered as default if there is no payment received for a period of three months or the delay in repayment of any instalment has exceeded three months.
  25. After you have defaulted in repayment of the loan and you have not complied with the 30 days’ notice served on you, we may: –
    i) list you as a defaulter with the CRBs
    ii) To engage the services of any debt collector whose charges shall be payable by you
  26. You further release the CRB and the Little Pesa Ltd and its officers, employees and agents from all claims, actions or proceedings of whatsoever nature and howsoever arising, suffered or incurred in connection with this sharing and access for the purpose afore stated.
  27. You hereby authorise the company to avail any funds available to you from your employer in order to pay off the loan outstandings in case of loan default or under circumstances which the company feels that the loan is likely to default.
  28. You confirm that you have read and understood the above said terms and conditions (as amended time to time) and agree to be bound by them. You agree that you are liable for amount outstanding at any time in your account.

Product Financing

  1. These Terms constitute a contract. You are required to accept our terms and conditions every time before availing a loan. These Terms constitute a contract. You are required to accept our terms and conditions every time before availing a loan. However, you have the right to withdraw your consent at any time (although this will not impact the lawfulness of the processing done prior to withdrawal).
  2. You must keep your account secure. You are responsible for maintaining the confidentiality of your password and account. Furthermore, you are entirely responsible for any and all activities that occur through the use of your account or password. You agree to immediately notify us of any unauthorized use of your account or any other breach of security.
  3. You expressly agree that, as part of the Service, you may, from time to time, receive communications from us via text message (SMS) or email, including our promotional newsletters or other information about the Service. You may stop receiving promotional messages by dialing *456*9*5*1#.
  4. You must respect our rights in the Service. We grant you a limited, non-transferable, personal right and license to use the Service and any associated software application through which it may be provided. You must not copy, decompile, reverse engineer, disassemble, attempt to derive the source code of, modify, or create derivative works of the software (except as, and only to the extent that, any of the foregoing restrictions are prohibited by applicable law or to the limited extent permitted by the licensing terms governing use of any open-sourced components included within the software).
  5. In the event of a data breach, we undertake to report to the relevant local supervisory authority within seventy-two (72) hours of becoming aware of the breach. If the breach poses a high risk to you, you shall be notified within reasonable time.
  6. We may discontinue the Service. We may in our sole discretion and at any time terminate your access to the Service or discontinue providing the Service or any part of the Service, with a notice of 30 days via sms, email or any other means of communication. You agree that we will not be responsible or liable to you or any third party for modifying or discontinuing the Service, or for terminating or suspending your access to the Service.
  7. We are not liable for any damages you may incur. IN NO EVENT WILL WE OR OUR SUPPLIERS BE LIABLE FOR ANY DIRECT, INDIRECT, PUNITIVE, INCIDENTAL, SPECIAL, CONSEQUENTIAL DAMAGES, OR ANY DAMAGES WHATSOEVER INCLUDING, WITHOUT LIMITATION, DAMAGES FOR LOSS OF USE, DATA, OR PROFITS, ARISING OUT OF OR IN ANY WAY CONNECTED WITH THE USE OR PERFORMANCE OF THE SERVICE, WITH THE DELAY OR INABILITY TO USE THE SERVICE, THE PROVISION OF OR FAILURE TO PROVIDE SERVICE, OR FOR ANY LOAN OBTAINED THROUGH THE SERVICE, OR OTHERWISE ARISING OUT OF THE USE OF THE SERVICE, WHETHER BASED ON CONTRACT, TORT, NEGLIGENCE, STRICT LIABILITY, OR OTHERWISE.
  8. This contract is based on Kenyan law. These Terms are subject to, and shall be governed by, and construed in accordance with the laws of the Republic of Kenya, without reference to the principles of conflict of laws thereof. Any matters arising concerning the interpretation, validity or implementation of these Terms shall be submitted to arbitration in the English language before a sole arbitrator to take place in Nairobi, Kenya as the seat of the arbitration. The arbitration shall be conducted pursuant to the Rules of Arbitration of the Chartered Institute of Arbitration (Kenya Chapter). The arbitrator shall be appointed by agreement between the parties or in default of such agreement within sixty (60) days of the notification of a dispute, by the Chairman of the aforementioned arbitral body. To the extent permitted by applicable law, the arbitral decision shall be final and binding on the parties.
  9. We may modify these Terms. These Terms may be modified with a notice of 30 days via sms, email or any other means of communication at any time in the future.
  10. You hereby agree and authorise the company to obtain and procure your personal information obtained in the IPRS from the Govt. of Kenya and/or CRBs and you further agree and consent to the disclosure and provision of such personal information by the Govt. of Kenya and/or CRBs to the company.
  11. You warrant that the information given in this application form is true and complete and you further agree and authorize the company to obtain, procure and share your personal information/data to/from Credit Reference Bureau, or any other external database. Further, you acknowledge and consent that your data shall be collected and Stored by Little Pesa as required for them to conduct their operations or such other reasons deemed necessary. You further authorize us for your personal data being stored/transferred outside Kenya.
  12. You shall have the right to know as to how your personal data is being processed and can request for a copy of the personal data via email to info@littlepesa.com. We undertake to provide you a copy of the Personal Data held free of charge in a prescribed format within one month of receipt of the request and the format shall include
    a) The type of data being     processed;
    b) The recipients of the data;
    c) The period of time the data will be processed; and
    d) Meaningful information about how the information is used to profile and the logic behind the processing.
  13. You shall have the right to ask for comprehensive statement of your account via email to info@littlepesa.com and we shall provide you the requisite statement on email.
  14. You have the right to request the erasure of all their Personal Data via email to info@littlepesa.com. However, this is not an absolute right and applies only in the following circumstances: a) If the Personal Data is no longer necessary for the purpose it was originally collected; b) If the consent is withdrawn; c) If there is no overriding legitimate interest to continue the processing; d) If the Personal Data is being processed for marketing purposes and you object to it; or e) If the Personal Data was being processed unlawfully.
  15. Acceptance by the company of your application for a loan shall be done via SMS sent to the Safaricom mobile no. registered by you with the company.
  16. The company reserves the right to decline your application for a loan or to revoke the same at any stage at the company’s sole discretion and without assigning any reason or giving any notice thereto. Loan to a minor is not allowed.
  17. You hereby irrevocably authorize the company to act on all requests received by the company from you (or purportedly from you) through the system and to hold you liable in respect thereof.
  18. Subject to approval of your application for a loan, the company shall grant you a loan of anamount to be determined by the company in its sole discretion subject to a maximum amount of Kenya Shilling three hundred thousand (Ksh 300,000) or such other maximum amount as the company may from time to time in its sole discretion determine.
  19. You agree to and shall release from and indemnify the company against all claims, losses, damages, costs and expenses howsoever arising in consequence of or in any way related to the company having acted in accordance with the whole or any part of any of your requests.
  20. You shall make down payment to us of 10% of the loan amount approved for disbursement.
  21. You agree and confirm that the supplier shall issue the invoice in favour of Little Pesa Ltd on your account. The item financed by us shall remain our property till the loan is repaid. You further agree and confirm that you shall not sell, transfer, lease, gift or part with the possession of any part of the item financed by us without our prior written consent.
  22. You shall take delivery of the item financed by us from the supplier after due inspection of the item. In case, the item is found to have any manufacturing defect, you shall contact the supplier and invoke the warranty from the supplier, if available.
  23. You shall be responsible for the due maintenance of the item financed by us and would not hold us responsible for any damage or wear and tear of the article.
  24. You agree to insure the item financed by us at your cost and in case of loss or damage of the item for whatsoever reason shall not absolve you of your responsibility to repay the loan.
  25. Pre-payment of the loan is permissible after 3 months. In case of pre-payment, you shall be charged interest applicable for 3/6/9 months.
  26. We shall confirm your equated monthly installment, the repayment period, the interest rate and the dates of the installments by email, sms or any other form of communication. Our rates of interest are 5%, 4.5%, 4% and 3.5% p.m. for repayment periods of 3, 6 ,9 and 12 months respectively.
  27. In case, you fail to make any payment due to us on the due date, we shall be authorized to apply a penalty interest of 4% over the applicable rate on the overdue amount. Further, the loan shall be considered as default if there is no payment received for a period of three months or the delay in repayment of any installment has exceeded three months.
  28. After you have defaulted in repayment of the loan and you have not complied with the 30 days’ notice served on you, we may:-
    i) list you as a defaulter with the CRBs
    ii) repossess the item financed by us
    iii) sell the repossessed item
    iv) To engage the services of any debt collector whose charges shall be payable by you
  29. You further release the CRB and the Little Pesa Ltd and its officers, employees and agents from all claims, actions or proceedings of whatsoever nature and howsoever arising, suffered or incurred in connection with this sharing and access for the purpose afore stated.
  30. You hereby authorize the company to avail any funds available to you from your employer in order to pay off the loan outstandings in case of loan default or under circumstances which the company feels that the loan is likely to default.
  31. You confirm that you have read and understood the above said terms and conditions (as amended time to time) and agree to be bound by them. You agree that you are liable for amount outstanding at any time in your account.

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