Lendiza

FAQs

How do I apply for a loan via Lendiza.co.za?

Want to apply? Determine your loan amount and fill a brief online form. We'll connect you with a suitable lender.

Is Lendiza.co.za service free of charge?

Using Lendiza.co.za comes at no cost to you. We make our money through commissions when a lender credits a loan to your account.

What's the loan amount I can apply for?

The loan amount you can apply for ranges from R500 to R350 000, depending on individual circumstances and lender terms.

What identification do I need to apply?

To be eligible for a loan at Lendiza.co.za, you need to be a South African resident, 18-80 years old, have a valid bank account, and a consistent income source.

Can I apply if I have a bad credit history?

At Lendiza.co.za, our lenders evaluate your future repayment ability, not just your past credit history.

Am I allowed to repay my loan ahead of time?

Sure, you can repay your loan at any time, and you'll pay less in interest.

What should I do if I can't afford my loan repayments?

If you're struggling with loan repayment, we advise you to contact your lender directly for possible options.

How should I repay my loan?

The repayment process is determined by the specific lender. It is essential to carefully read and understand your loan agreement, as it will outline when payments are due, their frequency, and the duration of the repayment period. Contact your lender directly for any specific questions regarding loan repayment.

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Responsible Lending

Lendiza.co.za is a platform that connects customers with potential lenders. While we strive to ensure that the information presented on our website is accurate and up to date, we do not guarantee this nor are we responsible for any decision taken based on the information. Each lender has its own lending criteria, which may or may not suit your current financial situation.

Maximum/Minimum Repayment Periods and Maximum Interest Rate

The loans offered through Lendiza.co.za have a minimum repayment period of 120 days (four months) and a maximum of 180 days (six months). Interest rates vary from lender to lender, and APRs range from 0% to 36%. Your credit score and financial situation may influence the rates you're offered.

Debt Collection Policy

Please contact the lender directly if you are having trouble repaying. They will be able to discuss payment options with you. The lender reserves the right to give your information to a third-party collection agency, should the situation remain unresolved.

Consequences of Nonpayment

If you cannot pay on time, each lender has their own policies on fees/interest and how they handle debt collection. Some lenders may explore legal options in the event of continued nonpayment. Most lenders will contact you by regular mail, email, or phone to change your payment terms. Failure to pay may result in interest accruals and/or increases and may affect your credit score. Please read through the fees section on the lender’s website before proceeding to taking a loan.

Extensions

Lendiza.co.za does not recommend extending your loan. If you feel that you cannot repay your loan on time, then we strongly suggest you not taking it and recommend that you seek independent financial advice. However, should you decide that an extension is necessary, please discuss this option with your lender. For more information about your lender’s process and policy regarding nonpayment, please review the terms in your loan agreement.

Extension Policy

Should you consider extending your loan, reach out to your lender before you miss a payment. Most lenders charge the same interest rate and fees for another month on the overall amount due. The loan may be automatically renewed or extended in the case of late or nonpayment. Additional interest and/or charges may be applied to your account. Please, think cautiously before extending your loan, as this could significantly increase the amount you pay.
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