Our monthly interest rate is 5%. Which is approximately 0.17% per day.
There are no renewal fees involved. Each new loan application requires verification and credit assessments.
Our sliders will give you a breakdown of all the interest and fees you will need to pay back.
The interest and fees is based on the amount you want to borrrow and the period you want to borrow it for.
We calculate interest and fees according to the National Credit Act of 2005.
We charge a daily interest of approxamitely 0.17%.
Service fee: R50 per month.
Initiation fee: 15% on the first R1000, plus 10% on any value above R1000, to a maximum of R1000.
Applicants information is submitted to our credit bureaus.
This information is then updated and reflects on the applicants credit report.
Clients are contacted via email and telephone regarding their unpaid / overdue loans.
Clients are given a final letter of demand and are then given a further 12 days to settle the overdue account.
Clients are handed over to our bad debt accounts department who will then continue to recover the outstanding loans.
Late interest is incured on a daily basis for unpaid / overdue loans at a rate of approximately 0.17%.