Lime loans is a South African fintech that provides payday online loans ranging from R300.00 to R5400.00. The interest rate starts from 28.9% to 39.8%. The loan repayment is 5 to 36 days. Lime Loans targets South Africans above the age of 18.
In the past few years, online payday lenders like Lime Loans have proven to be the go-to companies for most South Africans.
In 2018, online lenders approved about 82% of their applications while big banks approved 58% of financing applications and small banks approved 71%.
Lime loans’ low application standards and requirements make it easy to access their loans.
On average, Lime loans application process may take about 5 minutes. It can be about a minute for the existing Lime clients who already have an account.
Lime loans have different tariffs that determine the maximum amount, timing and the current interest rate of the loan. There are 4 different tariff groups:
For new applicants the loan amount is between R300 and R1200.
There is a number of ways to improve your tariff and quickly go to the next level:
To repay the loan; you can log into your profile, click the ’’repay’’ button and follow the instructions.
Otherwise, Lime collects the money on the due date using an automatic system.
With so many options offered by Lime loans, you can gradually get them all by staying up to date with your payment deadlines.
This will be an added advantage as it boosts your credit profile. Do you consider Lime as most convenient for you, the next time you need a small loan?