Extend loan

Cant pay my current loan
Written by Jerome
Updated 3 months ago
What does this mean?

The opportunity to extend your loan to your next salary date.

Who is this option available to?

This option is available for all LendPlus customers. The extension becomes available before your due date. Kindly be advised that the extension cannot be finalized two days prior to your due date, as this timeframe does not allow sufficient opportunity to cancel the existing debicheck mandate.

How to complete the extension?
  1. An sms will be sent to the phone number you have registered with LendPlus advising of the available option to extend your loan until your next salary date.
  2. Make sure to use the link sent by us to complete the extension alternatively logon to your profile on our website and make a payment on the extension option.
  3. A small payment will be required which covers the interest and fees to extend to your next salary date.
  4. Once payment is made, a new loan agreement is sent to you which you need to sign.
  5. Once the loan agreement is signed a new debicheck will be sent to you which you need to authorize to cancel the old debicheck otherwise the debit will go off on the normal debit date as per the first debicheck mandate.
  6. Extension is then active and visible on your LendPlus profile.
Please see below
  1. Proceed to the postpone the repayment date page
  2. Marked with a green arrow below would be the amount payable to extend your loan which are the interest and service fees for the extension
  3. Marked with a yellow arrow below would be the date of next debit date
  4. The red box would need to be confirmed before the pay online option opens up
  5. Marked in black would be the payment step.
  6. After payment as mentioned in the (How to complete the extension) section, a new loan agreement will be sent to you which you need to approve.
  7. Last step would be the authorizing of the new debicheck. Please note the new debicheck will cancel the old debicheck once you authorize it.

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