Lime Loans application process is simple and easy for borrowers looking for short term help. Borrowers can start the application online through the Lime Loans website. The application will ask for basic personal and financial information, including ID and recent bank statements showing income. Once submitted Lime Loans digital platform will process the application quickly and if approved funds will be deposited into the borrowers bank account. This quick application process means borrowers can get the help they need fast.
Terms
- Lime Loans offers loans from R500 to R8,000 to qualified borrowers.
- Borrowers can choose repayment terms up to 37 days to suit their needs and financial situation.
- Lime Loans interest rates are based on the loan amount and repayment period, we will communicate the rates to you.
- Lime Loans may charge a service fee which will be disclosed upfront and included in the total repayment amount.
- You may be eligible for an interest discount if you pay back the loan before the agreed repayment date.
Requirements
- Borrowers must provide correct personal details including their South African ID number, contact information and residential address.
- Applicants must have an active South African bank account to receive the loan funds electronically.
- Lime will require recent bank statements usually covering the past 3 months to verify the applicant’s income.
- While Lime Loans will consider applicants with different credit profiles, meeting the minimum eligibility criteria and showing the ability to repay the loan is key.
- Borrowers must register for a Lime Loans account and agree to the terms and conditions before applying for a loan.
Reasons for Decline
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Incomplete or incorrect information. If the applicant provides incomplete or incorrect information during the application process, it will decline.
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Insufficient income. Lime Loans will assess the applicant’s ability to repay the loan based on their income. If the applicant’s income is not sufficient to cover the loan amount and fees, the application will decline.
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Poor credit history. While Lime Loans will consider applicants with different credit profiles, a history of defaults, late payments or other negative credit listings may decline the application.
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Bank account issues. Applicants must have an active South African bank account to receive the loan funds. If there are issues with the bank account provided such as it being inactive or closed, the application will decline.
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Not meeting the eligibility criteria. Lime Loans has specific eligibility criteria that applicants must meet to qualify for a loan. If the applicant does not meet the criteria such as being over 18 years old and a South African resident, the application will decline.