Letshego Holdings Namibia Announces Reduction in Lending Rates

In response to the recent decrease in prime lending rates, Letshego Bank Namibia and Letshego Micro Financial Services Namibia, subsidiaries of Letshego Holdings Namibia, have announced a reduction in their lending rates. The new rates will take effect from 22 August 2024.

Letshego Bank

• Prime rates reduce from 11,5% to 11,25%

• Home loan rates reduce from 12,5% to 12,25%

Letshego Micro Financial Services Namibia

• The Unsecured Deduction at Source Loan rate for both government and non-government employees has been reduced to 22.5%. This fixed rate applies to the entire borrowing period, it’s inclusive of the credit life insurance and all related administration fees. The new rates is only available for new loan contracts.