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Terms & Conditions

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Terms and Conditions of LUMANDLA FINANCE (PTY) Ltd

  • We offer loans at an interest rate of 7%. Our loan amounts start from R10,000, and we have set monthly installment plans based on the loan amount. Please note, that before the loan amount can be disbursed, the first two months' installment must be paid upfront. This upfront payment is referred to as the "Legal Initiation Fee." This fee is crucial before we can process and release the loan.
  • To determine the actual amount for the Legal Initiation Fee, simply add the first and second monthly installments together and make the payment in advance.
  • Important: Due to your credit score, your loan amount is currently unauthorized and does not reflect in your account. To proceed, you must pay the Legal Initiation Fee before your loan can be processed and appear in your account.
  • Please note that the Legal Initiation Fee is equivalent to the first two monthly installments, which must be paid upfront before the loan is disbursed. Since we do not check your credit status before releasing the loan, this is the only required legal fee. This payment will not be deducted from the loan amount. Afterward, you will begin making regular monthly payments starting from the third month.
  • This fee is mandatory for all first-time applicants, those under debt review, blacklisted individuals, or anyone with a low credit score. The fee covers the first two months of your installments and enables our company attorney to act as a witness to your loan transaction. It is a one-time payment, meaning that after paying the Legal Initiation Fee, you will only have to make 10 months of payments instead of 12.

How to pay instalments in LUMANDLA FINANCE (PTY) LTD

Loan Repayment Details: The monthly repayment amount depends on the loan amount and repayment duration. Here are the details:

  • R10,000 (1 year): R865.27 for 12 months
  • R15,000 (1 year & 3 months): R1,047.30 for 15 months
  • R20,000 (1 year & 5 months): R1,239.19 for 17 months
  • R25,000 (1 year & 8 months): R1,327.97 for 20 months
  • R30,000 (1 year & 10 months): R1,456.98 for 22 months
  • R35,000 (2 years): R1,567.04 for 24 months
  • R40,000 (2 years & 2 months): R1,662.55 for 26 months
  • R45,000 (2 years & 4 months): R1,746.64 for 28 months
  • R50,000 (2 years & 5 months): R1,879.09 for 29 months
  • R55,000 (2 years & 7 months): R1,944.60 for 31 months
  • R60,000 (2 years & 8 months): R2,060.89 for 32 months
  • R65,000 (2 years & 10 months): R2,113.16 for 34 months
  • R70,000 (3 years): R2,161.40 for 36 months
  • R75,000 (3 years & 2 months): R2,206.24 for 38 months
  • R80,000 (3 years & 3 months): R2,299.41 for 39 months
  • R85,000 (3 years & 5 months): R2,336.97 for 41 months
  • R90,000 (3 years & 7 months): R2,372.55 for 43 months
  • R100,000 (4 years): R2,394.62 for 48 months
  • R120,000 (4 years & 8 months): R2,518.07 for 56 months
  • R130,000 (5 years): R2,574.16 for 60 months
  • R150,000 (5 years & 8 months): R2,678.57 for 68 months
  • R170,000 (6 years): R2,898.33 for 72 months
  • R200,000 (7 years & 6 months): R2,862.69 for 90 months
  • R250,000 (9 years): R3,126.57 for 108 months
  • R300,000 (11 years): R3,265.23 for 132 months
  • R500,000 (14 years): R4,677.00 for 168 months
  • R700,000 (17 years): R5,877.62 for 204 months
  • R1,000,000 (20 years): R7,752.99 for 240 months

How to Accept the Terms and Conditions:

To accept the terms and conditions of the loan, please contact our Admin/Consultant or Supervisor/Manager on WhatsApp, stating that you ACCEPT the terms and conditions and request the bank details for the Legal Initiation Fee payment. Once the payment is made, your loan will be processed and disbursed on the same day.

If you decide not to proceed with the loan, simply text the Admin/Consultant to cancel the application. If you wish to proceed at a later time, please inform the Admin/Consultant of the date when you plan to pay the Legal Initiation Fee, and we will place your loan application on hold until you are ready to make the required payment.

Note: The loan amount will only be released once the Legal Initiation Fee is paid in full.

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