Frequently asked questions
About Loaney
Loaney is an online short-term lender offering a simple and convenient way to apply for a loan when you need some extra financial flexibility.
Yes. Loaney is a registered credit provider regulated by the National Credit Regulator (NCR) in South Africa. We operate in accordance with the National Credit Act and applicable responsible lending requirements.
This means our lending process is transparent and regulated. Before accepting a loan, you will receive clear information about the loan terms, interest, fees and the total amount you will need to repay. We also take the security and protection of your personal information seriously.
NCR Registration Number: NCRCP 22676
The amount you can borrow depends on your individual circumstances and the outcome of our affordability and credit assessment. The amount available to you will be shown during your application.
Loaney offers short-term loans with repayment periods from 5 to 35 days.
Applying for a loan
To apply, you must be at least 18 years old, have a valid South African ID, a South African bank account and a regular source of income.
The application is completed online. Simply provide the required information, complete the necessary verification steps and submit your application for assessment.
We may ask for your personal and contact details, employment and income information, monthly expenses, banking information and other information required to assess your application.
In most cases, we can assess your income using your bank statement information, so a payslip may not be required. We may request additional information or documents if necessary.
Assessment & Bank Statements
Your bank statement information helps us verify your income, understand your regular financial commitments and conduct an affordability assessment before granting credit.
We generally require your most recent three full months of bank statement information.
Yes. As part of our assessment, we may obtain information from registered credit bureaus to assess your credit profile, existing credit obligations and affordability.
No. Every application is subject to our affordability, credit and verification checks. We only offer a loan where the application meets our lending criteria.
Loan Costs
The cost depends on the amount borrowed, the loan term and the applicable fees and interest. Before accepting your loan, you will see a clear breakdown of the amount borrowed, interest, fees and the total amount you will need to repay.
No. All applicable interest and fees will be clearly disclosed to you before you accept the loan agreement.
Yes. You can settle your loan early. The settlement amount will be calculated in accordance with your credit agreement and applicable South African legislation.
Receiving Your Money
Once your loan has been approved and all required steps have been completed, the funds will be paid directly into your nominated South African bank account.
We aim to process approved loans as quickly as possible. The actual time for funds to reflect in your account may depend on your bank and the payment method used.
Repayments
Your repayment will normally be collected from your bank account on the agreed repayment date using DebiCheck or another authorised payment method specified in your credit agreement.
DebiCheck is a secure debit order system that allows you to electronically confirm the details of a debit order with your bank before it can be processed. This gives you greater control over debit orders on your account.
Privacy & Support
Yes. We take the protection and security of your personal information seriously. Your information is processed and protected in accordance with applicable South African data protection requirements, including the Protection of Personal Information Act (POPIA).
We use appropriate security measures and only collect and process information necessary to provide our services, assess your application and meet our legal and regulatory obligations.