Binixo - Loan Comparison Service in South Africa

1. Binixo Loan Terms
2. Borrower Requirements
3. How to Apply and Receive a Loan
4. Repayment

Binixo is an online loan comparison and matching service for customers in South Africa. The comparison service is free for borrowers.

It is not a lender, bank or registered credit provider itself and does not issue loans or make lending decisions. Instead, users submit one online request and Binixo shares the relevant information with participating third-party lenders, allowing borrowers to receive and compare available loan offers. Binixo states that the lenders featured on its platform are registered with South Africa's National Credit Regulator (NCR).

Binixo Loan Terms

The terms displayed on Binixo are indicative because the actual credit agreement is concluded with an independent lender.

• Loan amount from R1,000 to R50,000
• Repayment period from 91 to 120 days
• Annual interest rate 0% – 36% APR
• Promotional rate: some lending partners may offer a first loan at 0% interest to new customers, subject to approval and the lender's conditions
• Binixo service fee: R0

Borrower Requirements

Applicants generally need to provide:

• full name;
• date of birth;
• South African ID or passport details;
• mobile phone number and email;
• residential address;
• bank account details;
• employment and income information.

The lender may request additional information or documents and performs its own affordability and credit assessment.

How to Apply and Receive a Loan

1. Select the required loan amount.
2. Complete the online application form.
3. Receive available offers from participating lenders.
4. Choose a suitable offer.
5. Complete the lender's verification process.
6. Review and accept the credit agreement.
7. Receive the funds from the lender.

Submitting an application does not guarantee approval.

Repayment

Loan repayments are made directly to the lender, not to Binixo.

The lender provides:

• repayment dates;
• payment amounts;
• available payment methods;
• bank or debit-order details.

The exact repayment method depends on the credit provider.