Referral Bonuses

Referral Program Terms “Referral Bonus”

The “Referral Bonus” referral program is designed to increase customers’ loyalty to Lendplus Kenya and increase the number of new customers.

Before participating in the “Referral Bonus” program, make sure that you have read these terms and accepted. If you have any questions, please contact our support ([email protected]) before participating in the program.

Participation in the Program

Every Lendplus company’s client who has submitted at least one loan application qualifies to participate in the “Referral Bonus” program. Notwithstanding whether the client has an active loan or not, whether the application was approved or a decline was received.

Referral Link

The referral link is provided to the client who has fully completed the registration – submitted the first loan application. The referral link is unique for each client. The client can share the referral link an unlimited number of times with both his relatives and friends, and just acquaintances. The referral link can be copied into the Client’s Personal Account.

Invitation of New Clients

The referral link leads the invited potential client to the Google Play Market, where he must install the Lendplus mobile application. If the invited client has an Apple mobile phone or laptop – after following the link he will go to the site https://lendplus.ke . The new client who received the link must register, apply for a loan, and receive a loan directly by the link that he received.

Accrual of Reward

The client of the company who shared a referral link receives a reward in the amount of 500 Referral Bonus for each referred client who has fully repaid his/her first loan. Bonuses for repaid loans of invited friends are accumulated in the Personal Account of the client who invited.

Referral bonuses are not accrued in the following cases:

1) for repeated credits of the users referred by the client;

2) if the client who was invited through the referral link is overdue for more than 5 days.

3) if the installation of the application or registration on the site will be carried out by the invited client not using the unique referral link received in the invitation from the current client of the company.

4) if the client, who was invited by the referral link, extends the loan – bonuses are not accrued until the invited client repays the loan in full.

Payment of Reward

The client can use the accumulated bonuses in their personal account in two ways:

• Exchange the accumulated bonuses for a discount on Interest on a future loan, at the rate of 1 Referral Bonus = 1 KES of Interest. The maximum number of Referral Bonuses that can be used as an interest discount on a future loan is no more than 70% of the future loan interest amount. The interest discount from referral bonuses is valid only if the client repays the loan no later than 5 days after the contract repayment date. If the client extends the loan, the interest discount applies only to the first loan term. after the extension, standard interest without bonus discounts will be charged.
• Exchange the accumulated bonuses for the purchase of Airtime from M-Pesa operator, at the rate of 1 Referral Bonus = 1 KES for Airtime payment. If the client has received referral bonuses for invited friends but has not yet repaid his first loan, he will not be able to exchange them for Airtime until he fully repays the loan.

Both methods of exchanging referral bonuses are available to the client in their personal account.

Bonus Payment Terms

The client in the Personal Account creates an application for the exchange of Referral Bonus, and the Lendplus company exchanges bonuses within 7 working days after the client creates the application for the exchange. The client cannot use the accrued Referral Bonuses if he has a debt on the current loan, until the moment of full repayment of the debt or prolongation of the loan.

Validity Period of Accrued Bonuses

Accrued Referral Bonus is available for exchange for 12 months from the date of accrual. After the specified period, bonuses are canceled without the possibility of recovery.

Restrictions on Accrual of Bonuses

For the entire period of cooperation with Lendplus , the Client can invite an unlimited number of friends, but the accrual of a reward for attracting will only be for 20 repaid loans per month. The maximum reward amount for 1 month is KES 10,000

Violation of the Rules of the Referral Program

Lendplus reserves the right to decline/withhold payment of any reward if it finds that the client does not comply with these Rules.

Change of Rules

The company reserves the right to change these Rules at any time, notifying clients 14 days in advance through the Application or website.