FAQ

 

 

1. Who can apply for a Lendar loan?

Any South African citizen that is 18 years and older, and who is not under debt administration and has never applied for debt review can apply for a Lendar loan.

2. What do I need to apply?

You will need your ID number, your latest payslip and your 3 months’ bank statements.

3. How do I apply for a Lendar loan?

Simply punch in your ID number and follow the step-by-step process.

4. Will a credit check be conducted?

Yes. Conducting a credit check is a mandate of all credit providers approved by the National Credit Regulator (NCR).

5. Who is the National Credit Regulator (NCR)?

The National Credit Regulator (NCR) is a government regulatory authority mandated with the task of protecting you, the borrower, against over-indebtedness as well as protecting authorized lenders against bad debt, as per the National Credit Act.

6. How long will it take for the money to be paid into my account?

Within minutes after the vetting process has been concluded and you have signed the Loan Agreement. The more accurately you fill in your Lendar loan application, the quicker will be the vetting process and therefore the sooner you will receive your loan.

7. How do I pay back my Lendar loan?

During the application process you will need to give Lendar the Mandate to deduct the Repayment Amount via automatic debit order from your bank account, on the Repayment date you select.

8. What if I cannot repay my Lendar loan on the Repayment Date I selected?

We understand that similar challenges to that which made you seek out a Lendar loan to begin with could prevent you from honouring your loan agreement on the agreed-to date, despite you being financially responsible. All we ask is that you inform us of your predicament, via email, sms or telephone call, before your Debit Order date to allow us to negotiate alternative payment arrangements. Failure to make alternative arrangements will result in unnecessary debt recovery processes that could have dire financial implications for you in the future.

9. How is my information kept safe and secure?

Lendar understands aversion to the risk of disseminating one’s personal information through the internet space. As such, we have partnered with service providers that are compliant with the Protection of Personal Information (POPI) Act and have put sufficient security protocols in place to safeguard ours and our customers’ personal information. Please see our Privacy Policy to satisfy yourself of our own commitment to safeguarding your personal information as well as compliance with the POPI Act.

10. Can I have more than 1 Lendar loan at a time?

At this stage, we only allow 1 loan per borrower, at a time.

11. Can I apply for a Lendar loan After Hours, on a Weekend or Public Holiday?

Yes, you can apply for a Lendar loan 24/7 – 365. Just bear in mind however that the date and time at which you apply for a loan would also be dependent on banking and credit bureau processes. For an example, loans applied for during Public Holidays will be paid on the next working day because credit bureaus close on such days.

12. What if I get stuck and need assistance during the application process?

Simply call the Help Desk on 011 258 8572 and a friendly Lendar assistant will be at hand to assist you.