Lendico Review

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Product Review

Lendico offers users an innovative and attractive financial marketplace. The participants in the marketplace are both borrowers that are seeking finance and lenders that are seeking returns. On Lendico both of these are able to avoid the high cost structure like that in a bank. Borrowers are then able to get better rates and investors get better returns.

Lendico offers great rates for borrowers and there are good returns for lenders. It is an easy process as you are able to fulfill a personal loan project or create an investment portfolio in a few easy steps. The transactions and are data are all secure and are not accessible by third parties.

Application process


Lendico connects the borrowers with lenders and they will benefit from low rates for their loan project. As a borrower you will need to fill out the online process form and the money will arrive to you in just a few days. You are able to apply for a loan that is tailored to your needs and your financial situation. You are able to get a loan to buy a car, renovate your home or to consolidate debts. The loan process at Lendico is simple, fast and non-bureaucratic.


As an investor at Lendico you will be able to bypass many of the traditional banking costs. The savings made here are then passed on to the investor as attractive returns. Lendico will also take care of the task of controlling the credit quality of the loan projects for you. Each month you will receive the principal amount and interest payments made on one of your notes.


  • Great rates for borrowers – APR starts at 7.87%
  • Good returns for investors – earn up to 26.17%
  • Simple process
  • Secure and reliable
  • Cuts down on paperwork

Customer Rating

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Additional info

Mailing Address Lendico S.A (PTY) LTD, Central Office Park no.4, 257 Jean Street, Centurion, Gauteng, 0046


Interest Rate/APR

* APR 7.87% (fixed nominal rate 7.11% p.a., one-time Lendico fee 0.50% – of net loan amount) applies provided the following: a sufficient credit score, a net loan amount of R 200000 and a term of 24 months. Representative example: net loan amount R 50000, term 36 months, APR 10.71%, fixed nominal rate 8.84% p.a., one-time Lendico fee 2.00% of net loan amount.

Implications of Non-Payment

If you do not pay your installments after several reminders, your loan project will be cancelled and an invoice for the remaining loan sum will be sent to you. After the cancellation we will hand your case over to a registered collection agency, who will then handle the remaining legal steps. Please note that Lendico is obliged to notify our partner credit bureaus if your loan project is cancelled due to unpaid installments.

Financial Implications

You can register at Lendico and apply for your loan completely free of charge. Lendico borrowers do not have to pay anything until their loan project has been approved and fully financed. Once the loan is ready for payout, we charge borrowers a one-time Lendico fee (0.50% – 7% of the loan amount, but never exceeding R 1000).The exact fee depends on the size of the loan and will be deducted straight from the loan amount before it is paid into your account. Please refer to the ‘Fees’-section for a complete overview of all fees on Lendico

Potential Impact to Users’ Credit Score

In line with the data protection agreement, as a credit provider Lendico is obliged to transfer certain information to our partner credit bureaus (e.g. if you sign a loan agreement or it gets cancelled). However, this only applies once you have signed your loan agreement.


Unless stated otherwise there are no renewals for the loan service

Collection Practices

Monthly installments are paid via direct debit and are automatically distributed to the investors who funded your loan.You just need to make sure that sufficient funds are available on the date that your installment is due, as prescribed in the loan agreement.