Lime loans Review: Everything you should know

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Do you need money now to pay some bills or expenses? Is the end of the month fast approaching and you’ve run out of essential home stock? Hence, getting a personal loan or a business loan could become a good option to try out. And because they use of modern technology, lime loans will always be ready to come to your aid and provide credit services that are among the fastest to be found in South Africa. We will discuss a quick dive into how Lime loans as we go on in this article.

About Lime loans

Lime loan is a modern day financial company that provides solutions to switch the borrowing method from the old-fashioned way to the new school way. Moreover, Lime Loans is a subsidiary of the mother agency ‘Lime credit group.’ And they have been able to equip their loaning platform with high-quality technology to enhance the service they provide.

Above all, they operate with a team of highly trained personnels and a combination of machine and technology. They’ve built the platform uniquely to serve their clients.

What are the requirements for a Lime loan?

A couple of requirements are necessary to qualify for a Lime loan. Unlike other loan providers, lime loans only require a few criteria and documents.

The following are the requirements you need to apply for a Lime loan:

  1. A south African ID number
  2. An available phone number
  3. Bank account details
  4. Latest 3 months old bank statement showing your income.

Once you provide the above requirements, you’re closer to getting your loan.

What is their minimum and maximum loan amount?

As stated earlier, Lime loan is an online platform that grants loan eligible customers within a very short processing time. With Lime loan, eligible customers can get a minimum loan of R300. 

On the other hand, you can get a maximum loan amount of R5,400. However, this depends on your credit score and the viability of the document you provided. During the process of application, double check all information you will be providing. This not only increases your chance of getting the loan, it also improves the processing time.

How can I apply for a Lime loan?

The application process for Lime loan is super swift and easy. Application only involves three stages. Once you’re sure you have met all their application requirements. Then, all you need to do is visit Lime loans official website and follow the procedures listed below;

  1. Create your profile

Visit the platform’s official website at https://www.lime24.co.za/. Locate and click “Apply Now”. Carefully enter your personal details and contact details (including a functioning email and phone number).

  1. Complete your bank details

Enter additional information to determine your tariff rate. Carefully fill in your bank account details and provide your latest 3 three months bank statement. For faster processing time and ease, connect directly with your bank through the secure ID platform. Alternatively, you can submit the documents manually for a slower turnaround.

  1. Withdraw your money

This is the last stage of application. Here, confirm your income, choose the amount and term of the loan. Carefully read and sign the agreement by clicking the “I accept” button and they will pay the money into your account in no time.

Note: Try as much as possible to be truthful during your application process as it fastens the analysis check and improves the results. Also, after your first loan, future loan applications are even easier and quicker to complete. As a returning user, just Log in to your profile. Thereafter you request the loan offer you desire.

Read more on Direct Axis Loan Review

What are Lime loan repayment terms?

Every loan has a repayment term. The lender and the borrower agree on certain terms that will guide the repayment of the loan. Their repayment term is from 5 days to 35 days.

Consequently, you’ll repay the loan depending on what day of the month you accept the loan. In addition, they will generate a credit order for how many days you have taken it. 

What is the Lime Loan repayment method?

Repayment procedure for their loan is easy. Just as easy as signing into your profile with your email or phone number. To repay the loan, just log into your profile and select the ‘repay’ button. Nevertheless, Lime loans have advised against this if the next repayment date falls within the following three business days, as the debit order will most likely still go through. 

Conclusion

Time is money, and people hate wasting it. And because Lime loans are almost instant puts them ahead of other credit providers. Sourcing for a quick loan from them could be great for you. Also, operating with a state-of-the-art security system in place, the privacy and security of the data you provide will be safe.

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