Fees and Commissions

Our loan matching service, LulaLona.co.za does not set any interest rates for using money. The service operates transparently. We do not take any interest or fees. Our services are completely free for you to use.

Your lender outlines the fees for late payments in your contract. Lenders in the South Africa set their own interest rates and penalties for failure to pay.

It is important to note that all financial relationships are between you and your lender, not LulaLona.co.za. We are not a lender and never act as such. As a website, we only match borrowers and financial entities by offering a selection of lenders that provide cash loans up to R350000 for a period of four months.

The financial institution will determine its own policies regarding loan provision and payment. The user agrees to the terms remotely directly on the lender’s website. You, as the borrower, may choose to accept or decline the terms offered in the loan agreement. Your agreement details the loan amount, repayment period, daily interest rate, fees, and penalties.

LulaLona.co.za cannot access your loan agreements. If you have questions regarding your loan agreement or repayment, contact your lender directly through the means of communications detailed on their website.

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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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