LendPlus Loan Review
LendPlus lends R500 to R4,000 for 5 to 35 days. Here is what that actually costs once every legal charge is added up, and when it is the wrong tool for the job.
Is a LendPlus loan worth it?
LendPlus is a registered payday lender offering R500 to R4,000 over 5 to 35 days, fully online, and it will consider applicants banks decline. The trade-off is cost: because fixed fees dominate on small short loans, the annualised cost typically runs between 250% and 350%. It suits a genuine one-off gap before payday, not recurring shortfalls.
- Loan amount
- R500 – R4,000
- Repayment term
- 5 – 35 days
- Credit type
- Short-term (payday) credit
- Interest cap
- 5% per month (NCA)
Understand this before you apply
This is payday credit, which is priced under a different part of the National Credit Act to a normal personal loan. The 5% monthly interest cap sounds modest, but the initiation fee and service fee are charged in full regardless of how few days you borrow for. On a R2,000 loan over 30 days that works out near 300% a year. If you need more than about R5,000, or cannot repay in a single payment, a longer-term loan will cost you far less.
LendPlus at a glance
| Loan amount | R500 – R4,000 |
| Repayment term | 5 – 35 days |
| Credit type | Short-term (payday) credit |
| Interest cap | 5% per month (NCA) |
| Monthly service fee | R69 |
| NCR registration | NCRCP17814 |
LendPlus loan cost calculator
Every NCA-regulated charge, not just the interest.
R500 – R4 000
Your offer depends on your credit profile.
Single repayment after 30 days
R2 497,99
Total repaid
R2 498
Cost of credit
R498
Effective cost / year
302.9%
Estimate only. Fees use the NCA statutory caps and credit life is assumed at the R4.50 per R1,000 regulatory maximum. Your actual quote depends on your credit and affordability assessment.
Pros and cons
What works
- +Fully online - no branch visit, no paperwork, no employer letter
- +Considers applicants with impaired credit records that banks decline
- +Small amounts available, so you are not pushed into borrowing more than you need
- +Fast turnaround, usually same day once documents are verified
- +Registered with the National Credit Regulator (NCRCP17814)
What to watch
- −This is payday credit - the annualised cost runs into the hundreds of percent
- −Very short terms mean the full amount plus charges comes off your next payslip
- −Maximum R4,000 will not cover a significant expense
- −Requires 3 months of bank statements showing regular income
- −Rolling over or re-borrowing each month is how people get trapped in a debt cycle
Who qualifies
- Valid South African ID, and you must be 18 or older
- Your 3 most recent bank statements in PDF format
- An active South African bank account that receives your income
- A working cellphone number and email address
LendPlus verifies income from your bank statements rather than requiring a payslip, which is why it can serve some self-employed and informally paid applicants that payslip-based lenders cannot.
Try these first
Because payday credit is the most expensive money you can legally borrow, it is worth ruling out the cheaper options before applying:
- Ask your employer about a salary advance - many will advance against an earned salary at no cost.
- A bank overdraft or credit card, if you have one, is almost always cheaper over a month.
- A longer-term instalment loan spreads the fixed fees, cutting the effective annual cost sharply.
- For a recurring shortfall rather than a one-off gap, free debt counselling will help more than another loan.
Never pay a fee to get a loan
No registered lender asks for an upfront payment to release a loan. If you are asked to pay an "insurance", "clearance" or "activation" fee before payout, it is a scam. You can check any credit provider's registration on the National Credit Regulator register at ncr.org.za before sending documents or ID.
Our verdict
LendPlus does what it says: small amounts, fast, fully online, with more flexibility on credit history than a bank. It is properly registered and its charges sit within the legal caps. For someone facing a genuine emergency a few days before payday, with no cheaper option available, it is a legitimate product.
But the economics are unforgiving. Fixed fees on a small, short loan produce an annualised cost in the hundreds of percent, and the R4,000 ceiling means it cannot solve a real financial problem. The danger is not one loan - it is the second and third. If you are considering LendPlus more than once, the loan is treating a symptom, and it is worth getting free debt advice instead.
Frequently asked questions
Is LendPlus a legitimate lender? +
How much does a LendPlus loan really cost? +
Does LendPlus approve blacklisted applicants? +
How long do I have to repay a LendPlus loan? +
What happens if I cannot repay on time? +
Is a payday loan ever the right choice? +
Important
This article is for information only and is not financial advice. Borrowing money is a serious commitment - make sure you understand the total cost of credit, including interest, initiation fees, monthly admin fees, and credit life insurance. Only borrow from credit providers registered with the National Credit Regulator (NCR). MoneyToday is not a credit provider and does not arrange loans on your behalf.
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