FAQs

What's the application process at LulaLona.co.za?

Input your details into our form and LulaLona.co.za will find lenders matching your needs. We'll redirect you to the lender’s site for the offer.

Are there any charges for using LulaLona.co.za?

Using LulaLona.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 maximum loan amount at LulaLona.co.za?

Our lender partners at LulaLona.co.za offer loans ranging from R500 to R350 000.

What identification do I need to apply?

To apply, you need to be a South African citizen, aged 18-80, with a bank account or debit card, a valid SASSA card or Tax ID Number, an income source, and personal email and phone number.

Can I apply if I have a bad credit history?

Our partnered lenders consider various factors, including repayment ability, not just credit history.

Can I repay my loan early?

Yes, you can settle your loan before it matures.

What if I can't make loan payments?

If you're unable to make your loan payments, reach out to your lender immediately. Timely communication can prevent negative consequences.

How do I make loan repayments?

Repayment periods and terms vary depending on the type of loan product you apply for. Your loan agreement will provide detailed information on when payments start, how often they occur, and the duration of the repayment period.

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Important Information from LulaLona.co.za

LulaLona.co.za is an online loan-finding service. We act as an intermediary, connecting South African consumers with NCR-licensed credit providers. LulaLona.co.za is not a direct lender and does not make credit decisions or issue loans. Our service is free to use for consumers.

Loan repayment terms offered by our partner credit providers can range from 3 months (91 days) to 72 months. The Annual Percentage Rate (APR) for loans found through our service will vary depending on the lender, the loan amount, the term, and the applicant's credit profile. The minimum APR offered by our partners is 5%, and the maximum APR is 60% per annum. All costs and the APR will be clearly disclosed to you by the credit provider in a Pre-Agreement Statement and Quotation (PQ) before you accept any loan offer, in accordance with the National Credit Act (NCA).

Representative Loan Example:

Consider a loan of R30,000 repaid over 36 months. At a maximum Annual Percentage Rate (APR) of 27.5% (inclusive of all permissible initiation and service fees as per the NCA for this example loan amount and term), your estimated monthly repayment would be approximately R1232.82. The estimated total amount repayable over 36 months would be approximately R44,381.52. This example is for illustrative purposes only. The actual terms, APR, fees, and repayment amounts will be determined by the specific credit provider based on your individual assessment and will be fully detailed in your Pre-Agreement Statement and Quotation.
General Loan Range: Our lending partners may offer loans ranging from R100 to R350,000, subject to their lending criteria and your affordability assessment.

Responsible Lending & Consumer Protection:

LulaLona.co.za is committed to promoting responsible lending. We only partner with credit providers who are registered with the National Credit Regulator (NCR) and adhere to the regulations set out in the National Credit Act. We encourage all users to borrow responsibly, only taking out loans they can comfortably afford to repay. All loan applications are subject to credit checks and affordability assessments conducted by the credit providers as required by law.

Loan Repayment:

LulaLona.co.za does not collect payments. Your lender will provide payment details and schedules.

Non-Payment:

Failing to make timely payments on your loan can have serious consequences, including negative impacts on your credit record (making it harder to obtain credit in the future), and potential legal action from the credit provider. If you anticipate difficulty in making a repayment, you should contact your credit provider directly and immediately to discuss possible arrangements.

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