Terms and Conditions

Elitehands Credits Ltd — Upperhill, Nairobi, Kenya

1. About Elitehands Credits

Elitehands Credits Ltd is a duly registered financial institution headquartered at Upperhill, Nairobi, Kenya, serving all African Union member states. We provide shares-based lending services to qualified individuals across Africa.

2. The Shares Model

To access any loan product with Elitehands Credits, you are required to first acquire Shares (Membership Fee). Shares determine your loan limit and creditworthiness on our platform.

  • Shares are a one-time, non-refundable membership investment
  • Your loan limit is calculated as 20 times your shares value
  • Without shares, your loan limit is zero
  • Shares are held in a regulated escrow account and earn 25.5% interest per annum
  • Shares are used to obtain your credit score from relevant lending institutions

3. Interest Rates

An affordable interest rate of 15.7% applies on the principal amount (the loan amount applied for). Interest is calculated on the original loan amount.

4. Loan Processing Time

  • Your loan is processed and approved within 10 to 20 minutes upon successful submission of correct details and shares
  • Loan is disbursed after a 45-minute credit verification and insurance submission
  • Funds are sent to the bank account or telephone number provided in your loan form

5. Loan Repayment

  • Once disbursement is successful, a system-generated paybill and account number is sent to your mobile number
  • All monthly loan installments must be channeled through this paybill
  • First repayment installment begins exactly 30 days after receiving your loan amount
  • Early repayment is permitted without penalty

6. Repayment Structure

Loan Amount (USD Equivalent)Max Repayment Period
Up to $5003 months
$501 - $2,0006 months
$2,001 - $10,00012 months
$10,001 - $50,00024 months
$50,001 - $200,00036 months
$200,001 - $500,00048 months
Above $500,00060 months

7. Loan Application Form

  • The loan application form is only issued once you have your shares ready in your mobile money account
  • After completing the form, you will be issued shares submission procedures to be completed within 30 minutes
  • Your application becomes DORMANT and cancelled if shares are not submitted within 30 minutes
  • Loan forms are strictly for loan purposes only

8. Data Protection

All personal and financial data collected is encrypted and stored securely. We comply with applicable data protection laws across all jurisdictions. We do not share your information with third parties without your explicit consent.

9. Governing Law

These terms are governed by the laws of Kenya. For clients in other jurisdictions, local laws apply where they offer greater protection.

CUSTOMER SATISFACTION IS OUR NUMBER ONE PRIORITY

Elitehands Credits Ltd — Leading Online Financial Institution in East, Central and South Africa

Upperhill, Nairobi, Kenya