FAQ
1. What is the penalty for missing a repayment?
The additional interests will be charged on a pro rata basis when missing a monthly repayment. We will give you order to rectify it as soon as possible.
2. What is the repayment period?
The loan is a short-term loan and needs to be paid back in 1 month
3. What Interest rate is charged?
Interest rate from as low as 5%
4. How long does it take for me to receive my cash loan?
Once your loan has been approved the cash will be in your account between 24 hours later.
5. Do the repayments come off my account through a debit order?
Yes, a debit order will come off your account on the given date and for the given amount.
6. How many months do I have to pay off my loan?
The shortest term loan: 1 month and the longest term loan: 3 months
7. What if I cannot afford to repay the loan?
There must be a legitimate reason for not being able to pay back the loan in the first month. Legal proceedings will be involved, and a course of action discussed.
8. What are the minimum and maximum loan amounts?
The minimum loan amount is R100 and the maximum loan amount is R5000.
9. How will I know if I qualify for the amount applied?
Once you have done the application and submitted all the required documents, we will do a credit check and assess your affordability before issuing any cash loans.
10. What documents are required to apply?
• A valid South African ID
• Your latest pay slip
• 3 Months bank statements
• Registered cell phone number