Lime Loans Review 2022

Lime Loans Summary

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 target South Africans over the age of 18.

lime24 loans

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.


  • Have the Republic of South Africa’s Identification Document
  • Be over 18 years old
  • Have a South African bank account and access to the internet

How to get a lime loan

  • Create your profile: You create a profile online by issuing your personal details and contacts. Lime sends you a verification email to verify your profile.
  • Fill in your banking details and additional information: Apart from providing them with your banking details, you will have to provide them with more information in the spaces therein.

    Providing more data and answering all the questions on the page will help you get a better tariff rate.

    You will also need to upload 3-month bank statements.
  • Set up the loan structure
  • Choose the amount of loan you would like to receive, ranging from R300 to R5400.
  • Select the term of the loan option from 5 days to 36 days
  • Read and sign the agreement online. You sign by clicking the ’’I accept’’ button.
  • Receive the funds

On average, the Lime loan application process may take about 5 minutes. It can be about a minute for the existing Lime clients who already have an account.

Lime24 loans

Tariff groups

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:

Lime Start

For new applicants, the loan amount is between R300 and R1200.

Lime Silver 

  • This is an upgrade from the beginners level, loan amounts are between R300 and R2100.
  • The service fee is pro-rated based on your loan term

Lime Gold

  • Loan amount between R300 and R3000
  • Receive a lower interest rate from your second loan onwards

Lime VIP

  • At this level, you get to enjoy 5-day loans free of charge
  • The loan amount is between R300 and R5000, with the possibility to increase your borrowing limit depending on your credit profile.

There is a number of ways to improve your tariff and quickly go to the next level:

  • The questions are accurately completed the very first time you apply.
  • To build a good credit profile
  • Being a regular Lime client
  • To avoid late payments

Repayment of the lime loan

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.

lime loans

Competitive advantages of Lime loans

  • The application process and decision take a few minutes, allowing you to receive cash in your bank account very fast. Lime loans are an ideal option to borrow money from in times of urgent need.
  • The application process is entirely paperless
  • Transparency – because there are no hidden fees and all online loan calculations are visible online
  • Flexible – since you decide the loan amount and the loan term in a way that best suits you

Competitive disadvantages of Lime loans

  • The interest charged is high compared to traditional banks.
  • Short repayment time
  • Can not solve big financial problems. They offer small amounts yet charge high interest.


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?


Lime Loans Review 2022

Parddon Khumalo

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