Terms & Conditions of application
• You the applicant agree that the information that you enter is true and correct.
• You the applicant agree that a credit check and all necessary checks may be conducted by ourselves or our business partners and financial houses for full application review purposes.
• You the applicant understand that all loan applications are subject to income & expense and employment confirmation.
• Mr Cash Loans is not the credit provider and does not make the credit decisions.
• By submitting the Application form, you hereby state that you understand these terms and conditions .
• If your loan is approved you will be notified within 24hours.
Loan terms and Cost of credit:
• Loans terms - we offer -
3 month loans up to 60 month loans
• Loans Available R3,000 up to R150,000
• You can use our Loan Calculator for an estimated Idea of what your loan installment will be.
• The Annual Interest Rate is a maximum of 28% as prescribed and governed by the NCA (National Credit Act, 2005) for unsecured loans with a repayment period of 12 months or more.
• A representative example of this is:
On a loan of R15 000 over 15 months at a maximum interest rate of 28%, maximum fees of R68.40pm, credit life fees, maximum initiation fee of R1 197 inclusive of VAT comes to a total cost of R22 717 which equals an APR of 68%.Which means that your monthly installment will be R1514.47
The interest rate will depend on the loan amount, loan term and credit profile of the applicant.