FAQs

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

Once you've filled out our online form, we'll match you with a lender. Review and accept the loan agreement, and you'll have the funds transferred to your account.

Is LulaLona.co.za service free of charge?

Yes, there are no charges for finding loan offers through LulaLona.co.za.

How much can I borrow from LulaLona.co.za?

You can request for a loan amount between R500 to R350 000 from our partnered lenders.

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 get a loan with a poor credit score?

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

Can I settle my loan before the due date?

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

What if I can't make loan payments?

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

How can I repay my loan?

Each lender has its own repayment process and will provide you with the necessary information to make your payments. Repayment methods may include direct transfer, creditor debit card, or depositing money into a specified bank account. It is important to follow your lender's instructions and make timely payments to avoid additional charges.

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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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