CreditGenius - Helps to find the right loan in minutes

1. CreditGenius Loan Terms
2. CreditGenius Borrower Requirements
3. How to Apply for a Loan Through CreditGenius
4. How to Repay a Loan Found Through CreditGenius
5. CreditGenius Features

CreditGenius is a free online loan comparison platform that helps South Africans find borrowing options from registered credit providers. 

The service is operated by Adwells Group OÜ, an Estonian company with registration number 17379392. Rather than issuing loans itself, CreditGenius connects applicants with lenders such as Wonga, Lime24, Boodle and FinChoice.

Users can explore short-term loans, complete a single online enquiry and proceed to a suitable lender without visiting a branch. CreditGenius does not make lending decisions or enter into credit agreements with borrowers.

CreditGenius Loan Terms

The standard loan offers available through CreditGenius have the following conditions:

• Loan amount  from R500 to R8,000
• Repayment period from 91 to 120 days
• Annual Percentage Rate (APR) up to 317%
• CreditGenius service fee is R0
• Application fee is free
• Lender fees: may include an initiation fee, monthly service charges and credit life insurance
• Repayment frequency: determined by the lender and specified in the credit agreement

The actual borrowing cost depends on the selected credit provider, loan amount, repayment period and applicant's financial circumstances.

CreditGenius Borrower Requirements

CreditGenius is intended for individuals residing in South Africa. Applicants generally need to meet these criteria:

• Be 18 years of age or older
• Have a residential address in South Africa
• Hold a valid South African ID number or passport
• Have an active mobile number and email address
• Own a South African bank account in their name
• Receive regular income that can be verified
• Meet the chosen lender's affordability and credit assessment requirements

A traditional salary is not the only income type considered. Depending on the lender, freelancers, self-employed individuals, pensioners and people receiving government benefits may qualify.

Income can be verified using payslips, recent bank statements, invoices, SARS tax returns or official pension and benefit documents.

Certain lenders may request additional paperwork, especially for larger amounts. Applicants currently undergoing formal debt review cannot take out new credit until the relevant legal restrictions have ended.

How to Apply for a Loan Through CreditGenius

CreditGenius begins with a short online enquiry, while the actual credit application is finalised with the lender.

1. Choose an amount. Open creditgenius.co.za and select the amount you want to borrow.
2. Enter your information. Complete the form with your personal details, contact information, income and employment status.
3. Verify your identity. Follow the identity verification instructions to confirm that the request is genuine.
4. Continue to a lender. CreditGenius directs you to a credit provider where you can complete the formal application.
5. Complete the lender's checks. The credit provider assesses eligibility, affordability and credit history. Additional documents may be requested.
6. Examine the loan offer. Check the APR, fees, repayment dates, instalments and total amount payable.
7. Sign and receive payment. If you accept the terms and the lender approves the application, sign the agreement electronically. The lender transfers the money to your nominated bank account.

The initial CreditGenius form takes less than two minutes to complete. The service advertises a response time of approximately 15 minutes, although actual approval and payout times depend on the credit provider and banking arrangements.

Completing the search form does not obligate you to accept a loan.

How to Repay a Loan Found Through CreditGenius

Loan repayments are managed by the lender that provides the funds, not CreditGenius.

Repayment is generally arranged through automatic deductions from the bank account registered during the application process. The collection dates and amounts are determined by the signed credit agreement.

Depending on the loan product, repayment may involve monthly instalments or a single payment at the end of the agreed term. Some lenders send reminders by email or SMS before scheduled collections.

For payment enquiries, repayment arrangements or changes to banking details, borrowers should contact their credit provider directly.

CreditGenius Features

Multiple Lending Partners

CreditGenius works with several South African credit providers, including Wonga Finance SA, Lime24 SA, Boodle Finance, FinChoice, Hoopla Loans and Mpowa Finance. Its listed lending partners are registered with the National Credit Regulator (NCR).

Free Loan Search

Comparing options and submitting the initial enquiry does not involve a fee. CreditGenius earns revenue from partner referrals rather than charging applicants for using the comparison platform.

Loan Repayment Calculator

The platform includes a calculator that estimates instalments, interest and total repayment costs based on selected figures. These calculations are illustrative and can differ from a lender's actual quotation, particularly when initiation or service fees apply.

Alternative Income Verification

CreditGenius caters to applicants whose earnings do not follow a conventional monthly payroll structure. Depending on the lender, documents such as freelance invoices, bank statements, pension confirmations or benefit certificates can support an application.

Privacy and Credit Checks

CreditGenius uses encrypted connections and processes personal information under its POPIA privacy policy. Applicant information may be forwarded to lending partners for eligibility checks. CreditGenius itself does not conduct credit bureau enquiries; partner credit providers may perform them as part of their lending assessments.

Customer Support

For questions about the comparison service, customers can email hello@creditgenius.co.za. The support team aims to respond within 24 to 48 business hours.

Representative Loan Example For a loan of R3,000 over 91 days: Loan principal: R3,000. Interest: R261.25. Initiation fee: R419.75, including VAT. Service fees: R207 (R69 per month, including VAT). Credit life insurance: R27. Total cost of credit: R915. Total repayment: R3,915. Monthly instalment: R1,305 for three months. Representative APR: Approximately 175%.