LetoCredit

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How to Repay a Loan Obtained Through Letocredit: All Payment Methods

Repayment is handled entirely by the partner lender whose credit agreement you signed — not by Letocredit. The methods below represent typical repayment options across the Letocredit partner network. Always refer to your individual credit agreement for the repayment schedule, dates and accepted payment channels specific to your lender.

Repayment Methods

Action required: Ensure sufficient funds are in your account

Action required: Ensure sufficient funds are in your account on the repayment date. Insufficient funds trigger a return fee from your bank (typically R10–R35) as well as possible penalty fees from the lender.

Reference number: Always use the reference number shown in y

Reference number: Always use the reference number shown in your credit agreement or account statement to ensure the payment is allocated correctly.

Timing: EFTs clear on the same business day if submitted bef

Timing: EFTs clear on the same business day if submitted before your bank's cut-off time, or the next business day otherwise.

Penalty interest accrues on the overdue balance.

Your bank charges a debit-order return fee for each failed c

Your bank charges a debit-order return fee for each failed collection.

The lender may charge a default administration fee.

After a defined period of non-payment, the lender reports th

After a defined period of non-payment, the lender reports the default to one or more credit bureaux (TransUnion, Experian, Compuscan, XDS) — this negatively affects your credit score.

Persistent non-payment may result in the debt being referred

Persistent non-payment may result in the debt being referred to a third-party debt collector or a summons being issued in the Magistrate's Court.

Set a calendar reminder two days before your repayment date

Set a calendar reminder two days before your repayment date to confirm your bank balance is sufficient.

If your income is delayed, contact your lender proactively

If your income is delayed, contact your lender proactively — before the due date — to discuss a payment arrangement.

Settle early if you receive a bonus or unexpected income to

Settle early if you receive a bonus or unexpected income to reduce total interest paid.

Keep all settlement confirmation receipts in digital and pri

Keep all settlement confirmation receipts in digital and printed form.

Early Repayment

### Early Settlement (Prepayment)

Loan Extension

### Loan Extension / Rollover

Penalties

- **Action required:** Ensure sufficient funds are in your account on the repayment date. Insufficient funds trigger a return fee from your bank (typically R10–R35) as well as possible penalty fees from the lender.