Please carefully read and understand the following terms and conditions before applying for a payday loan. These terms and conditions outline the agreement between the borrower (referred to as “you” or “the borrower”) and the lender (referred to as “Mr Provider” or “the lender”) in relation to the payday loan:

Loan Agreement: By applying for and accepting the payday loan, you acknowledge that you are entering into a legally binding loan agreement with the lender.

Eligibility Criteria: To qualify for a payday loan, you must be at least 18 years old. You should have a steady source of income and provide accurate and complete information during the application process.

Consent: The Borrower consents to the Credit Supplier obtaining any information from his employer inter alia, without derogating from the generality hereof, details pertaining to the Borrower’s salary, employment, residential address and best contact details. The Borrower indemnifies the Credit Supplier against any loss or damages it may suffer as a result of a failure to provide such aforesaid consent. The Borrower consents to the Credit Supplier obtaining any information from the relevant credit bureau(s).

Loan Amount: The maximum loan amount available to you will be determined by the lender based on your eligibility and affordability assessment. The loan amount will be specified in the loan agreement.

Loan Repayment: The loan repayment terms will be clearly stated in the loan agreement. The repayment amount, including interest and fees, will be due on the agreed-upon repayment date. Typically, payday loans are short-term loans, and the repayment is expected to be made in full on your next payday.

Interest and Fees: The loan agreement will include details of the interest rate applicable to your loan. The interest rate will be communicated to you prior to accepting the loan offer. In addition to interest, administrative fees, and other charges may apply. Please review the loan agreement for a complete breakdown of all applicable fees and charges.

Late Payment and Default: If you fail to make the loan repayment on the specified due date, you may be subject to late payment fees and additional interest charges. Failure to repay the loan may also have a negative impact on your credit rating and may result in legal action taken by the lender to recover the outstanding amount.

Privacy and Data Protection: The lender will collect and process personal information provided by you during the loan application process. This information will be used solely for the purpose of assessing your eligibility for the loan, managing the loan agreement, and complying with legal and regulatory requirements. The lender will take reasonable measures to protect your personal information in accordance with applicable data protection laws.

Responsible Lending: The lender is committed to responsible lending practices and will conduct affordability assessments to ensure that the loan amount and repayment terms are suitable for your financial circumstances. However, it is your responsibility to carefully consider your financial situation and only borrow what you can comfortably repay.

Dispute Resolution: In the event of any disputes or disagreements arising from the payday loan agreement, both parties agree to attempt to resolve the matter through good-faith negotiations. If a resolution cannot be reached, either party may seek legal remedies available under South African law.

Amendments and Modifications: The lender reserves the right to modify or amend these terms and conditions at any time. Any changes will be communicated to you in writing or through other appropriate channels.

By accepting the payday loan offer, you acknowledge that you have read, understood, and agreed to these terms and conditions. It is essential to review the loan agreement carefully and seek clarification on any aspects that you do not fully comprehend before signing the agreement.