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.
• By Completing our online application form, Mr Cash Loans does not gaurantee a successful loan application.
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.
Personal detail protection
We believe it is important to protect personal data as defined in the Data Protection act and our commitment is to give you personalized service in a way that also protects your personal privacy.
This policy explains how we collect personal data and the security measures we have in place to protect your personal data, and tell you of the thing we do and don’t do.
The data that we collect: What loan you are looking for, ID number, title, full names, contact details (cellphone number, email, etc.) the company that you work for details and your salary detail like your gross salary and net salary, also banking details bank, account type, account number these parts of information get collected from your application on Mr Cash Loans.
Some personal data that we hold may be ‘sensitive personal data’ within the meaning of the data protection act.
We collect and may hold personal data from you via this Website and from third party sources and use it for making decisions, providing services and servicing our relationship with you, to understand your financial needs, to assess your application for credit, to conduct our business, to provide you with better customer services and products from both ourselves and those of selected third parties, to evaluate the effectiveness of our marketing of the Website and for statistical analysis. We only collect information which is necessary for the operation of the provision of our Service to you. We will not keep your personal data for longer than necessary to provide the Service, or as required by law.
We may pass this information to other members, lenders, banks, as permitted by law so that they may do the same and they may pass information held by them about you to us so that we may do the same. In the provision of our Service to you, we may disclose your information to the following third parties who may provide us with further information about you, such third parties may also be required to disclose your information to selected third parties in relation to this application, and as required by law, such as Credit Reference Agencies, corporate groups and/or affiliate companies, any other ccredit provider in the context of your current application form to assist you in your application, any collector or tracing agent, to any company, business and/or any prospective purchaser of our company. The reason we collect your information is to perform a credit risk assessment and prequalify you for a the best possible loan, that suits your credit ability. We only ask for the information we need in order to do this. Your information will be used to send to our service partners, our partners will then perform a full risk assessment and decide if they are able to deliver on your loan requirements.
We reserve the right to access and disclose to third parties any information to comply with applicable laws, including but not limited to, disclosure in accordance with the Act, the Regulation of Investigatory Powers Act and lawful authority requests, to safeguard the proper operation of our systems and to protect ourselves and our customers/prospective customers. By submitting an application form through this site, you agree that we can contact you by post, telephone, sms and/or email (or such other channel we may adopt from time to time) to tell you about other products and services, offered by ourselves or other carefully selected companies and credit providers, that we believe would be of interest to you. We may also pass your information to third party financial services companies for the purpose of them telling you about their services or products. If you do not complete the application in full, we may not be able to fulfuill our role in assisting you find finance.
All information submitted via you application is submitted voluntarily and is held safely and securely by us in accordance with the Data Protection Act. We require all parties to whom we may pass your information to treat it with the same degree of confidentiality.