Does Lendico work in South Africa?

The one thing that can be a problem for people applying for a Lendico loan is to find the right information to be able to contact them. However, they are working on it, getting a call center and website for applying for loans. The lender is still relatively new and started in South Africa during 2013. Some brokers are still making use of them to ensure that their clients are getting the best loan option. 

What Lendico has to offer

The one thing that is great about Lendico is the fact that they offer more than just a normal loan to their clients. They are offering different loans to different clients. Making sure that they are providing in everyone’s needs. From debt consolidation loans to vehicle finance and personal loans.

The personal loans that you can apply for can go up to R200 000 and interest rates start at 7%. There are also some fees that you will pay with the interest that is known as the handling fees. These fees are divided into the number of months that you are repaying the loan. The period of repayment depends on the amount that you are lending. 

Loan requirements 

Lendico loans have the same requirements for applying for a loan like any other loan in South Africa. This is because there are standard rules and regulations for giving out loans to clients. This is according to NCR. The criteria for applying for a loan are.

  • You need to be older than 18 years and have a valid South African ID
  • Needs to be permanently employed and gets a salary higher than R5 000 for six months
  • Need to agree to a credit score check
  • Should be able to prove that you can afford the repayment 

Reviews about Lendico

There aren’t many reviews at the moment about Lendico. However, there are still a couple of reviews that are proving that if you are making use of Lendico, that you won’t regret using them. Reviews that are saying that they are a professional, easy method for applying for a loan and fast response time. 

The best part for most people is that they are paying the money without any delays. Making sure that the money is available in your account the moment that the loan has been approved.

Lendico isn’t a South African lender, but they have branches in South Africa and they are following the rules and regulations of the NCR. Making them still a really great option for getting a loan. The one thing that many like about Lendico is the fact that they are offering different loan services and their repayment plans are designed to suit your need best. Making sure that you can repay the loan, and that you don’t pay too high-interest rates.