Side-by-side comparison
| Letocredit | Wonga SA | Lime24 | Nifty Loans | African Bank | Capitec | |
|---|---|---|---|---|---|---|
| Type | Aggregator | Direct lender | Direct lender | Direct lender | Bank | Bank |
| Min amount | R100 | R500 | R500 | R500 | R500 | R1,000 |
| Max amount | R15,000 | R8,000 | R8,000 | R10,000 | R250,000 | R500,000 |
| Min term | 61 days | 1 month | 5 days | 2 months | 6 months | 1 month |
| Max term | 365 days | 6 months | 90 days | 6 months | 72 months | 84 months |
| APR (max) | 36% | ~60% | ~58% | ~60% | 27.75% | 27.75% |
| Platform fee | None | N/A | N/A | N/A | N/A | N/A |
| Decision time | 2-min form; lender decides | 10–30 min | ≈ 15 min | ≈ 30 min | Same day | Same day – 24 h |
| Mobile app | No (web only) | No (web) | No (web) | No (web) | Yes | Yes |
| NCR registered | Partners are NCR-registered | Yes | Yes | Yes | Yes (bank) | Yes (bank) |
| First loan promo | 0% via select partners | No | Yes (0% available) | Varies | No | No |
Source: lender websites and publicly available disclosures as of 2026. Rates and terms subject to change. Always verify on the lender's official website.
Letocredit vs Wonga SA
Wonga SA lends directly on short terms, capping returning borrowers at R8,000. Interest can hit 5% per month (the NCA cap for short-term credit under R8,000 on a first agreement), roughly 60% per annum on short durations. The brand is entrenched in South Africa and offers a single known product line. Letocredit may surface longer terms (up to 365 days against Wonga's 6 months) and, through select partners, 0% for first-time borrowers. Wonga trades that for one direct relationship with fixed, transparent pricing and no intermediary between you and the credit provider.
Letocredit vs Lime24
Lime24 (lime24.co.za), an international fintech, lends R500 to R8,000 over 5 to 90 days in South Africa. Loyalty discounts of around 25% on interest kick in after your first repaid loan and grow with later borrowing. Letocredit raises the ceiling to R15,000, stretches terms to 365 days versus 90, and bundles several lenders in one application. Lime24 keeps a single-lender loyalty ladder that is easy to track if you plan repeat borrowing with the same brand.
Letocredit vs African Bank and Capitec
African Bank and Capitec are deposit-taking banks, not microfinance shops. They lend up to R250,000 and R500,000 respectively on far longer schedules at lower APRs (around 15–27.75%), but they demand formal employment and cleaner credit files. Letocredit wins on speed, lighter paperwork and no platform-level credit score floor. The banks win on cheaper rates, bigger limits and wider product lines. Choose Letocredit when urgency and comparison matter more than the lowest possible APR.
Our verdict: who should use Letocredit?
Letocredit fits if you need R100–R15,000 fast, want several offers in one pass, chase 0% first-loan promos via select partners, prefer a two-minute digital form over branches, or carry a moderate or thin file and need to see who will bite. Look elsewhere if you need more than R15,000, want personal loans beyond 12 months, or already hold bank relationships with better pricing. Treat Letocredit as a screening tool, not the final word on total cost of credit.
FAQ — Comparison
Is Letocredit cheaper than Wonga? Not automatically. Pricing follows your matched partner. Some 0% first-loan promos beat Wonga for new borrowers.
Does Letocredit offer higher loan amounts than Lime24? Yes. R15,000 tops Lime24's R8,000 cap.
Should I use an aggregator like Letocredit or go directly to a bank? Aggregators move faster with less paperwork. Banks like Capitec or African Bank charge less and lend more but screen harder.