Application

First Loan

  1. Use the calculator to check your loan affordability:
    • Your loan amount is limited by your affordability.
    • Loan period is fixed at 6 months.
  2. Click the "Apply Now" button
  3. Create a new account or log in as an existing user and provide your personal information for creditworthiness evaluation.
    • We perform a credit check and analyze your bank statements.
    • You are informed by e-mail if you are creditworthy or not.
    • If creditworthy, you are authorized to create an account with us and if not, you can try again after 2 Months or contact us if you wish to appeal our decision.
  4. Get verified:
    • Complete all four sections of the verification process: a) Personal Details, b) Banking Details, c) Employment Details and d) Declaration.
    • Once verification has been completed you will receive an email with further instructions on completing the loan application.
  5. Complete the loan application:
    • We require 3 months' bank statements, a copy of your ID, your 2 latest payslips, and a copy of your lease agreement.
  6. Once a loan application is received we verify your details:
    • Make sure all details provided are true or your application will be denied.
  7. If the application is successful we will email the loan contract and debit order authorization to you:
    • Signing is done electronically using your phone or computer. No downloading, printing and/or scanning required.
  8. Disbursement of the loan amount is done as soon as we receive the signed contract and authority as per the loan agreement. Funds are paid directly to your lessor's account.

Repeated Loan

  1. Use the calculator to check your loan affordability:
    • Your loan amount is limited by your affordability.
    • Loan period is fixed at 6 months.
  2. Click the "Apply Now" button
  3. Log in to your existing account if not already logged in
  4. Make sure your verification details are still vaild
  5. Complete the loan application:
    • Update your Bank Statements and Pay Slips if need be.
  6. Once a loan application is received we verify your details:
    • Make sure all details provided are true or your application will be denied.
    • We perform a credit check and analyse your bank statements.
  7. If the application is successful we will email the loan contract and debit order authorization to you:
    • Signing is done electronically using your phone or computer. No downloading, printing and/or scanning required.
  8. Disbursement of the loan amount is done as soon as we receive the signed contract and authority as per the loan agreement. Funds are paid directly to your lessor's account.

Repayment

Interest, Fees & Charges

  • A revenue stamp fee is charged depending on the loan amount and is added on to it before other charges are calculated.
  • We charge 30% once-off on the loan amount; Interest, service fees & initiation fees all inclusive.
  • Interest is charged on the principal debt from the date on which the loan is made until the full settlement value is paid off.

Late Payment, Default & Non-payment

Late Payment

Late payment occurs when we are unsuccessful in collecting the full amount by means of debit order in terms of the payment instructions given by you to us on the repayment date.

We may try to debit your account at a later stage in more than one occasion for all or any outstanding amount due to us as we determine necessary until the full amount is repaid.

We will charge interest for late payment, so ensure that there are sufficient funds in the account to cover the full amount by 00:15 on the collection day.

Payment will be allocated first towards the interest and fees and then the principal amount respectively.

Default

You are in default if you fail to make any payment due in terms of the loan amount plus interest.

We will contact you telephonically, e-mail you or send our collections team to meet you and advise you about the default.

Defaults will attract additional interest and service fees as per the loan agreement.

Non-payment

Non-payment occurs when you are in default for up to 3 months without any comprehensive arrangement with us about any outstanding payment still due to us.

All collection cost incurred by us ranging from tracing fees, attorneys’ fees and registered debt collectors’ costs will be recovered from you.