Kredio - Online Loans up to R8,000 in South Africa

1. Kredio Loan Terms
2. Borrower Requirements
3. How to Apply for a Kredio Loan
4. How to Repay a Kredio Loan
5. Other Loan Conditions
6. Kredio Features

Kredio is a South African online personal loan provider offering loans from R500 to R8,000. Operated by Kredio (Pty) Ltd, the company is registered with the National Credit Regulator (NCRCP 24149). 

Kredio provides a fully digital lending service, allowing customers to apply, complete verification, sign agreements and receive funds directly into their bank accounts without visiting a branch.

Kredio Loan Terms

• Loan amount from R500 to R8,000
• Repayment term from 7 to 61 days
• Automated credit and affordability assessment, with a decision within 15 minutes
• Funds transferred directly to the borrower's bank account within 15 minutes after signing the agreement

Borrower Requirements

To apply for a Kredio loan, applicants must meet the following requirements:

• Be at least 18 years old
• Have a valid South African ID
• Have an active South African mobile phone number
• Provide proof of steady income
• Submit a bank statement not older than 3 months
• Have a bank account to receive the loan

Every application undergoes a creditworthiness and affordability assessment. Applicants with lower credit scores are assessed individually and are not automatically disqualified.

How to Apply for a Kredio Loan

The application is completed online and usually takes around 10 minutes.

1. Select a loan amount. Choose an amount between R500 and R8,000.
2. Create an account. Register using your mobile phone number and verify it with an SMS code.
3. Complete the application. Enter your personal information, employment details and income information.
4. Provide bank information. Enter your bank account details and submit a recent bank statement. The document can be uploaded automatically or manually when required.
5. Receive a decision. Kredio's automated system assesses the application, typically providing a decision within 15 minutes.
6. Review and sign the agreement. If approved, review the loan amount, repayment terms and full costs before signing electronically.
7. Receive the funds. The approved amount is transferred to your bank account within 15 minutes after signing.

Applications and automated assessments are available 24/7.

How to Repay a Kredio Loan

Kredio supports automatic and manual repayment methods.

DebiCheck Debit Order

Borrowers can authorise a DebiCheck debit order through their bank. Once approved, the agreed repayment is collected automatically on the scheduled due date. Kredio recommends ensuring sufficient funds are available in the bank account the day before collection.

Manual Payments

Borrowers can also make repayments using the payment link in their Kredio account. Available methods include:

• Electronic Funds Transfer (EFT).
• Ozow.
• Capitec Pay.
• Bank card payments.

Repayment amounts and due dates can be checked in the loan agreement or customer account. Kredio sends SMS and email reminders before payments are due and confirms received payments by SMS and email.

According to Kredio's terms, received payments are allocated first to outstanding interest, then to fees and charges, and finally to the principal debt.

Other Loan Conditions

Early Repayment

Kredio allows borrowers to settle their loans early and save on interest. To arrange early settlement, customers must request a settlement amount through their account or live chat at least 3 working days before the repayment due date.

Missed or Late Payments

Late repayment may result in additional interest and fees according to the credit agreement. Missed payments may also negatively affect the borrower's credit record.

Customers experiencing repayment difficulties should contact Kredio through live chat or email as soon as possible. The company reviews the situation and works with the borrower to agree on the next steps.

Applying for Another Loan

After fully repaying an existing loan, borrowers may be eligible to apply for another Kredio loan. Each application remains subject to approval.

Account Cancellation

Customers can request account cancellation through the platform, customer support or their registered email address. Active credit agreements and outstanding balances must be settled before the account can be closed.

Kredio Features

Kredio offers an entirely digital lending experience, including online registration, automated application assessments and electronic loan agreements.

Customers can access their profiles to review payment information, account statements, credit history and settlement requests.

The service uses encrypted connections and handles personal information in accordance with South Africa's Protection of Personal Information Act (POPIA).

Kredio does not require advance deposits or release fees to approve or disburse loans. Its online repayment system also supports multiple payment methods, including bank debit orders and instant payment services.

Customer support is available through live chat, email at contact@kredio.co.za and telephone at 021 300 0281.