Lime - Lender Review

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MyLoan Google Reviews

Representative example: Estimated repayments of a loan of r30,000 over 36 months at a maximum interest rate of 29.25% apr would be r1,381 per month including fees. Repayment terms can range from 2 - 72 months. Myloan is an online loan broker and not a lender. Our service is free, and we only work with NCR-licensed lenders in South Africa. Interest rates charged by lenders can start as low as 19.25% apr, including an initiation and service fee determined by the lender. The interest rate offered depends on the applicant's credit score and other factors at the lender's discretion.

The maximum annual interest rate including fees is 27.5%. Repayment terms can range from 1 - 72 months.

MyLoan is an online loan broker and not a lender. Our service is free and we work with NCR licensed lenders in South Africa. Interest rates charged by lenders can start as low as 20% APR, including an initiation and service fee determined by the lender. The interest rate offered depends on the applicants’ credit score and other factors at the lenders’ discretion.

If you’re not already aware, there’s a new breed of lender in South Africa, and Lime is one of them. This loan provider provides financial services through their innovative digital platform, making it easier and more convenient than ever to get a loan when you need it.

At a glance, Lime provides flexible loans of up to R5400, which typically need to be repaid within 37 days. 

Lime: Quick overview

  • Loan amount: R300 - R5400
  • Loan term: 5 days - 37 days
  • Interest rate: Between 0.1 % and 0.16% per day
  • Fees: Service fee of R69 per month

Lime Full Review

Overall, Lime is a likeable lender and one of South Africa’s leading digital lending internet platforms. Lime Credit Group was established in 2013, and its main aim is to change the way people borrow money in South Africa. 

This is why Lime loans are found 100% online. To get a Lime loan, you will have to create a profile that you log into whenever you need money. Lime only provides short-term loans of between R300 and R5400. 

These need to be paid back over 5 to 37 days. Since these are payday loans, the interest rate is higher than most personal loans. However, Lime always displays the total cost of the loan, so you know what you are getting into. Here’s an example of what you can expect.

Representative example: if you want to borrow R2000 for 30 days, you have to pay back R2428.78. The total cost includes interest, VAT, and a monthly service fee.

Pros of Lime

  • Fast processing: You get your money as soon as you are approved. There are no delays, which can be handy if you have an emergency.
  • Transparent fees structure: With Lime, what you see is what you get. The total cost of the loan is shown to you before applying, so there are no hidden fees or nasty surprises down the line. This makes it easy to budget for your loan.
  • Responsible lending: Lime only provides loan offers to borrowers after they calculate affordability. This helps to ensure that borrowers don’t get trapped into a vicious debt cycle by taking out loans they can’t afford.
  • Loyalty program: Return customers will get an interest rate discount that increases with each loan you take out. That means you can save on interest the more you borrow. 
  • Convenient and easy application: You can apply for a Lime loan any time from anywhere. In addition, you only have to provide basic information during the application, unlike traditional lenders that may ask for a lot of paperwork.
  • Small loans: With Lime, you can get as little as R300. This is perfect for when you just want to borrow a little to tide you over a few days. In some instances, some lenders provide loans starting from R5000 or even higher, meaning you will be forced to borrow more.
  • Early repayments: Lime won’t charge you for making early payments.

Cons of Lime

  • Limited loan amount: Lime only provides small loans. Although small loans can be convenient, it means Lime might not be the lender for if you want to cover an expensive purchase or payment, such as a car, holiday, wedding, or home renovations.
  • Short repayment term: You won’t be able to take your time when paying off a Lime loan. Paying off the loan within 37 days can leave you with a tight budget and little disposable income.
  • Digital lending only: Lime has no offices you can visit to take out a loan, which may not be ideal for borrowers that like to deal with a representative face to face.

How does Lime work?

Lime is a digital lender, so you will have to create a profile on their platform to apply. When creating your profile, you will need to fill in details, such as your personal and contact information and bank details. 

Once your profile is complete and Lime verifies your income, you select your loan details. If you qualify, all you have to do is sign the loan agreement, and Lime will deposit the money in your bank account. 

What’s the Lime Loyalty Program?

The great news is if you would like to take out another loan, Lime offers up to a 50% interest discount. The discount you get depends on the number of loans you have successfully paid off. So, first-time borrowers don’t get a discount. But if you’re taking a loan for the 2nd time, you get a 25% discount, and if it’s for the 6th time, you get a 35% discount and so on, up to the 9th plus time where you get a 50% discount. 

However, these rewards are only available to borrowers who repay their loans on time. If you miss a payment, you will drop to the level below each time.

Which loan type does Lime offer?

Lime provides short-term loans, which are essentially payday loans, to qualifying South Africans. These loans come with the following features:

  • Small loan: As mentioned, Lime is a short-term loan lender that allows you to access small loans ranging from R300 to R5400. 
  • Short repayment period: You have to settle the debt within 5-37 days.
  • Online application: Lime only offers online loans.
  • Qualification requirements: All you need is an SA ID number, your phone number, bank details, and three latest bank statements.

Is Lime a good and safe option?

Yes, Lime is a safe option because they are registered with the National Credit Regulator. In addition, and according to Lime, this lender takes data protection very seriously. The lender has a payment system that meets the global requirements of Visa and Mastercard. 

Lime is also a good option because of its responsible lending policy, which helps you stay in control of your finances. Plus, they make use of DebiCheck, which ensures that Lime cannot debit money from your account without your authorization. All of this means Lime follows the rules and regulations stipulated by the National Credit Regulator and South Africa’s legislation. 

Who is Lime best for?

A Lime loan is best for borrowers who:

  • Need a small loan.
  • Have a steady and reliable income
  • Prefer a convenient and quick application process

How do I apply for a Lime personal loan?

When applying for a Lime loan, you have two main options. You can apply directly through their website, or you can apply through We recommend applying through because it’s the easiest and most convenient way of knowing if you’re getting a good deal. 

At, we help South Africans compare loans to find the best terms and conditions. Best of all, we provide this service to you for free! Simply complete and submit our quick application form, and we will get to work right away. 

We will forward your application not only to Lime but to our other top South African lenders.

These lenders will then contact you with their offers.

You will get your cash as soon as you accept an offer and finalize the loan application.

Applying with is easy, convenient, saves you time, and gives you access to the best deals in one place! So if you’re ready to apply for a Lime loan, go ahead and fill in our application form today.  

How do I contact Lime?

You can contact representatives from Lime through these options:

  • Visit 30 Lucas Lane, Bedfordview, Johannesburg 2007 between 8:30 am and 5 pm, Monday to Friday.
  • Call 010 442 6722
  • Email