Published: 18 May 2026 | Last Updated: 18 May 2026
Risk Disclaimer: Failing to repay a loan on time will result in additional fees, damage to your credit record, and potential legal recovery action. Always ensure sufficient funds are in your account on the debit order date.
Primary Repayment Method: Debit Order
Koodo's standard repayment method is a debit order drawn from the bank account you registered during your application. The debit order is set up for your next payday — the day your salary is deposited — ensuring that repayment is collected when funds are most likely available.
How the debit order works:
- When you accept Koodo's loan agreement, you also authorise a debit order.
- On the agreed repayment date (typically your next payday, within 61–65 days), Koodo debits the full repayment amount from your account.
- The debit order includes the principal plus all fees and interest.
Repayment Method Summary
| Method | Available | Notes |
|---|---|---|
| Debit order (EFT debit) | Yes | Standard method |
| Manual EFT payment | Confirm with Koodo | Contact 087 152 0190 |
| Cash payment at branch | No | Koodo has no branches |
| ATM or retail payment | [DATA NOT AVAILABLE] | Confirm with Koodo |
| Early repayment | Likely available | Contact Koodo to confirm |
Early Repayment
The National Credit Act grants borrowers the right to settle their account early at any time. If you wish to repay your Koodo loan before the scheduled debit order date:
- Contact Koodo at admin@koodo.co.za or 087 152 0190.
- Request a settlement amount — this will reflect the outstanding principal plus any accrued interest and fees up to the date of settlement.
- Transfer the settlement amount to Koodo's nominated bank account and send proof of payment.
- Request written confirmation that your account has been closed and the debit order cancelled.
Under the NCA, early settlement may reduce the total interest you pay, as interest accrues daily.
What Happens if Your Debit Order Fails?
If there are insufficient funds in your account on the debit order date, the following consequences apply:
- R50 fee charged for the failed debit order.
- 5% per month interest charged on the outstanding overdue balance.
- A negative entry on your credit record at a registered credit bureau.
- Koodo may attempt to re-present the debit order.
- Repeated non-payment may result in referral to a collection agency or legal proceedings.
Best Practices for Repayment
- Check your balance the day before repayment. Ensure enough funds are available to cover the full repayment amount.
- Do not cancel the debit order through your bank. Rather contact Koodo first — cancelling the debit order without settling does not eliminate your debt and will incur fees.
- Notify Koodo immediately if you anticipate difficulty. Early communication may allow for an alternative repayment arrangement (at Koodo's discretion).
- Keep your contact details updated. Koodo needs to reach you if there is any issue with your repayment.
What Happens After Successful Repayment?
Once Koodo successfully collects repayment:
- Your loan account is marked as settled.
- Your positive repayment history is reported to the credit bureau, which can benefit your credit record.
- You become eligible to apply for a new Koodo loan if needed in the future.