What Are Lime24 Loans? How to Get Them?

Lime24 is a well-known financial technology company working in South Africa since 2016 and offering money lending services throughout the country. You can get short-term or emergency cash in case of urgent expenses ranging from R 300 to R 5400 with a repayment time of  7 weeks. Here in this article, we will look at the details about Lime24 Loans, what the application procedure is, and other relevant information about them.

What Are Lime24 Loans? How to Get Them?

Lime24 looks to be a short-term loan that you can get from Lime in case of emergency. Undoubtedly, Lime24 has made life stress-free and convenient for borrowers as the application procedure to apply for loans is easy and quick, and you receive funds in your account within a few hours of application approval. 

The easy-to-use online application method and flexible repayment terms from 5 days to 7 weeks make Lime24 Loans one of the most reliable and accessible loans for most borrowers. You can simply apply online by providing your information, documents and you will receive the loan payment in your account within a few hours. 

They are quick, easy, and simple and have low interest rates. Moreover, you can also pay back the loan all at once without any extra charges. Let’s talk about the eligibility requirements you need to meet to apply for Lime24 Loans.

Eligibility Requirement 

In order to apply for Lime24 Loans, here are some of the requirements that you have to fulfil before initiating the application procedure. Make sure to pay attention so you can fulfil the requirements beforehand. 

• You must make sure that you have a South African ID number with you. 
• Also, make sure that you have a cell phone with the number registered in your name. 
• You also have to submit proof of your income in the form of payslips for the last 3 months.

How to Apply? Application Procedure

Now if you think you are eligible for Lime24 Loans, you can initiate the application procedure. In order to do that, here is the step-by-step procedure that you have to follow as it is to apply for the loan. Make sure to follow the procedure as it is to get loans easily and without any complications. 

• The first and foremost important thing that you have to do is to create your profile by visiting the official website of Lime24 Loans. 
• In order to do that, you have to visit the home page of Lime24 Loans by clicking on Lime24.co.za.
• Then you have to use a slider to finalise the amount of loan you need. 
• As soon as you finalise the loan amount that you need, you have to click on “Apply now.”
• You will be directed to the page where you will see the basic registration form. 
• Provide information and your details including contact information. 
• Make sure to provide the correct details to avoid any misunderstandings.
• After creating your profile now, you have to fill in the application form, where you have to provide the required details and have to attach all the necessary documents. 
• You have to provide your latest stamped bank statement for the last three months and have to enter the details of your salary bank account. 
• Well, you have the option of uploading your bank statement either manually, or you can also give permission to Lime24 so they can connect directly to your bank to make the application approval procedure faster. 
• As soon as you provide your information, Lime24 will conduct an assessment test and affordability check. 
• After you clear the assessment test you will receive an offer from Lime24 Loans. 
• Read the offer and understand its description thoroughly. 
• Now accept the offer if you think it is appropriate for you. 
• Make sure to make an informed decision. 
• As soon as you accept the offer, loan money will be deposited into your bank account. 

Applying For a Loan for The Second Time 

In case you need a top-up loan you can apply for your second loan from Lime24 easily. In order to do that what you have to do is,

• Log into your profile.
• You can simply access your account by entering the mobile number. 
• Then you have to verify your information. 
• Make sure to confirm that your bank account information and your personal details are still correct. 
• There is a form on the website where you have to provide information about your expenses and income. 
• Again, you need to provide a bank statement for the last three months that should confirm your income. 
• Now you have to choose the loan amount in the final step and sign the loan contract offered to you by Lime24. 
• You will receive the money from the second loan in your bank account directly as soon as you sign the loan contract.

Documents You Need to Submit 

Here is a list of documents that you have to attach along with your application form when applying for Lime24 Loans. The documents that you need to attach with your application form include,  

• The copy of the South African ID document
• Your bank account details 
• Bank statements for the last three months

Pros and Cons Of Lime24 Loans

There are certain advantages and disadvantages of Lime24 Loans that you need to consider before initiating the application form. This is because if you are unaware of the advantages and disadvantages of the loan, you will not be able to make the right decision. 

Advantages 

• You can access Lime24 Loans via an easy-to-use online platform. 
• You can easily apply it through any of the smart devices and can get access to loans within a few hours.
• You don’t have to provide extra details for your information and you only need to enter basic information about you.
• You will receive money in your bank account on the same day of your application submission if you have submitted the application before 2:00 PM and your application is approved.
• The interest rate on Lime24 Loans is only 0.16% per day. It is further reduced to 0.10% for returning clients. 
• You can pay back the loan earlier and in full without any extra charges or fees.

Disadvantages 

• These payday loans have comparatively high interest rates as compared to other competitive loan providers. 
• Since these are small loans you can only get access to a maximum of R 5400. 

How to Contact Lime24 Loans?

If you have any questions in mind and you need to contact Lime24 Loans, you can contact them either by calling them on their number or emailing them. Moreover, you can also visit them at their official address. The call number, email, and address are mentioned below.

• Contact number: 010 442 6722

• Email: [email protected] 

• Address: C505, Bridgewater 3, Century City, Cape Town, 7441

FAQs 

How long does it take for Lime24 to pay you?

Lime24 Loans are deposited as soon as your application is approved. If your application is approved before 2:00 PM, your payment will be transferred to your account on the same day. Alternatively, if the application is approved after 2:00 PM or if there is a holiday, it will be transferred to your account on the next business day before 7:00 PM.

How to pay back a Lime loan?

You can pay back the Lime24 loan via debit order. You can confirm your debit order when applying for the loan and repayment money will be detected automatically from the borrower’s bank account. Moreover, your loan money is deducted on the due date. 

Can I make a repayment before the due date?

Yes, you can definitely make a repayment before the repayment date. In order to do this, you have to log into your profile on the Lime24 official website, click on “Repay,” and make the repayment. Remember there are no charges nor any fines that you have to pay for early repayment. 

What are the advantages of opting for Lime24 Loans? 

There are several advantages that you can get if you apply from Lime24. The lending company deals with borrowers and loan applications on online platforms via easy and convenient application methods. The processing and approval of an application is fast, and you get an instant transfer of money if your application is approved. Moreover, there are low interest rates, and there are no penalties on you if you pay back the loan money before the due date.

Are there any disadvantages of Lime24 Loans? 

Although there are several advantages, there are still some disadvantages that you might have to face if you apply for loans via Lime24. They have limited borrowing power means you can only borrow R 5400 and not more than that. Moreover, you might feel like the interest rates are higher for new borrowers as compared to other lenders.

Is Lime24 a reliable option?

Yes, Lime24 is a registered and authorised credit provider that works under the terms and conditions of NCR, National Credit Act. Moreover, the company is one of the popular lending companies offering several financial services to its customers.

Final Thoughts 

Lime24 Loans are not only easy to access but also quick in their approval and payout time that makes lending simple and easy for, whichowers. You can get up to R 5400 with the repayment period of up to 7 weeks within a few hours after applying for the loans via the online method of Lime24. Pay attention to the above article to understand everything about Lime24, its application procedure, documents you need to apply, and other the information that you should have before applying for the loan.