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What you need to apply:
- Age over 18
- South African I.D.
- South African bank account
- Your latest proof of income
- A cellphone number
- Loan terms are from 91 to 168 days
For example:
- Loan amount R2100 taken for 91 days.
- Initiation Fee will be R315.50. Service Fee is R69.00 Repayment amount will be R2585.90.
- Interest on a loan is 60% per year
- This is a representative example, it is for information purposes only. The extension of credit depends on the applicant’s credit rating.
- Loan term starts from 91 days.
Consequences of non-payment of your loan:
In the case of non-payment of a loan within the period specified within the contract, the interest on the loan will continue to be calculated based on the terms of the contract. If the borrower does not company with the loan payment arrangements, the respective information will be sent to the credit history bureau and the debt may be transferred to a collection agency.