How Does It Work?

LulaLona.co.za is a web platform that helps you find loans. Loans up to R 350000 are issued for a period of four months to individuals over 18. The loan amount depends on the terms set by your financial institution. We cannot guarantee that you will get a loan for the maximum amount with the longest repayment period.

The main requirements to the borrowers are:

  • Legal citizenship in the South Africa
  • 18–65 years of age
  • A valid SSS or TIN, and UMID card
  • Any form of income (official or unofficial)

Generally, it can take up to 30 minutes to apply and get a decision. All you need is specify how much you would like to borrow and for how long, fill out a basic form (name, ID, etc.), and send it through our platform. We will give you a list of lenders who have a pre-approved loan for you. Next, you choose a loan and read through the terms and conditions. If you decide to accept the terms, the lender will credit the funds to your account or credit card. You can complete your loan application at any time, there are no obligations to commit to anything.

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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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Address: Paadi tee 3, Haabneeme, 74001 Harju maakond, Estonia.