Quick Facts

• Loan amounts: R500 to R4,000
• Approval time: 15 minutes to 2 hours
• Registered with National Credit Regulator

What is LendPlus?

LendPlus is a registered South African credit provider that offers short-term personal loans from R500 to R4,000. The company was established in 2023 and is part of the international Aventus Group.

The service is fully online. You apply through their website or mobile app. If approved, money goes directly to your bank account within 15 minutes to 2 hours during business hours.

Registration Details: Lendplus Technology (Pty) Ltd, Company Registration: 2023/805154/07, NCR Registration: NCRCP17814

✅ Requirements & Eligibility

To qualify for a LendPlus loan, you need:

• Valid South African ID document
• Age between 18-62 years (some sources mention 23+ for first-time users)
• Active South African bank account
• Regular income (employment or other verifiable income)
• Valid mobile phone number
• Three most recent bank statements in PDF format
• Active email address

Good News: LendPlus accepts applicants with poor credit or blacklisted status. They look at alternative risk factors, not just your credit score.

How to Apply for a LendPlus Loan

Step 1: Use the Loan Calculator

Visit lendplus.co.za and use their calculator to select your loan amount (R500-R4,000).

Step 2: Create Your Profile

Register with your mobile number. You’ll receive an SMS to verify your phone.

Step 3: Complete the Application

Fill in your personal details, upload your SA ID, and submit your three recent bank statements.

Step 4: Wait for Approval

The review process takes 15 minutes to 2 hours during business hours (8AM-5PM, Monday-Friday).

Step 5: Receive Your Money

If approved, sign the loan agreement and money transfers to your bank account or eWallet.

LendPlus Costs & Fees (2025)

Fee Type	Amount
Interest Rate	From 0.17% per day (60% annually for first-time users, 36% for returning users)
Initiation Fee	15% of loan amount (for loans ≤R1,300) R165 + 10% of principal (for loans >R1,300, max R1,000)
Service Fee	Based on days remaining in month + R60 monthly
Loan Term	5 to 90 days
APR Range	51.85% to 102.14%

✅ Repayment Options

LendPlus offers several ways to repay your loan:

• Automatic Debit Order: Money deducted from your bank account on due date (requires DebiCheck authorisation)
• EFT Transfer: Transfer money to LendPlus bank account
• Online Payment: Pay through their website using OZOW
• Early Repayment: Pay before due date to reduce total interest

Important: If you pay late, additional fees apply. Contact them at +27 71 872 4041 if you’re struggling to pay.

⚠️ Important Warnings

High Cost of Borrowing: LendPlus loans are expensive. The annual interest rate can be up to 60% for first-time users. Only borrow what you can afford to repay quickly.

Short Repayment Terms: You have maximum 90 days to repay. This is not for long-term financial needs.

Customer Service Issues: Some users report difficulty contacting customer service and problems with unauthorised debit orders.

New Company: LendPlus was established in 2023, so there’s limited long-term track record.

🚨 Avoid Loan Scams

LendPlus is registered with the NCR, but watch out for fake loan companies:

• Never pay money upfront to get a loan
• Always verify the company’s NCR registration
• Be suspicious of guarantees like “100% approval”
• Check if the website is secure (https://)

Verify LendPlus: Their official website is lendplus.co.za and NCR number is NCRCP17814.

Alternative Options to Consider

Before taking a LendPlus loan, consider these cheaper alternatives:

• Bank Overdraft: Often cheaper than payday loans
• Credit Card Cash Advance: Lower interest than short-term loans
• Personal Loan from Bank: Much lower rates for larger amounts
• Family or Friends: Borrow from people you trust
• Stokvel: Traditional savings group
• Employer Advance: Ask your employer for salary advance

Other Online Lenders: Compare with Wonga, PocketMoney, or Moneyline for better rates.

✅ Your Consumer Rights

Under South African law, you have the right to:

• Receive a pre-agreement statement before signing
• Cancel the loan within 5 business days (cooling-off period)
• Receive clear information about all costs
• Make early repayment without penalty
• Complain if you’re not treated fairly

Where to Complain:

• LendPlus Direct: +27 71 868 5388 (8AM-5PM, Mon-Fri)
• National Credit Regulator: 0860 627 627
• FSCA: 0800 110 443
• Banking Ombudsman: 0860 800 900

Keep Records: Save all loan documents, SMS messages, and emails as proof.

LendPlus is legitimate but expensive. Only use it for genuine emergencies when you can repay within 90 days. The high interest rates make it unsuitable for regular borrowing.

Before applying: Try cheaper alternatives first. Calculate the total cost including all fees. Make sure you can afford the repayments.

If you proceed: Read all documents carefully, keep records of everything, and contact them immediately if you have payment problems.