WE BANK WITH
The following information refers to the loan referral service of LoanBasket SA, which is a complimentary benefit to your service package that you have purchased.
ANNUAL PERCENTAGE RATES
(unsecured credit transactions) Initiation fees: R150 per agreement plus 10% of the amount of the agreement in excess of R1000 but never to exceed R1000 Interest rates :RR X 2.2 + 20% per year.Maximum APR = (RR x 1.7) + 15% per year
Minimum period offered by registered credit providers: 6 (Six) Months
Maximum Period offered by registered credit providers : 60 (Sixty) Months
Maximum Annual Percentage Rate (APR): 27% (Repo Rate + 21%)
IMPLICATIONS OF NON PAYMENT
It is important however that you repay the loan on the agreed date. On the repayment date the lender will try to collect the full amount from your bank account. If this is unsuccessful due to you not having sufficient funds in your account, the lender will make subsequent attempts to collect all or part of the money. If you are likely to experience any issues with repayment it is important to contact the lender as soon as possible.If no resolution has been found the next step is to pass your account to a debt collection agency where additional fees may be encountered.
Lenders permits a second loan only after three successful payments.
ILLUSTRATIVE EXAMPLE ON A 36 MONTH LOAN
Loan amount: R50 000
Term: 36 month
Services Fee: R1000
APR (10.71%): R8681
Total Instalment: R1630
Total Amount Payable: R59 716
TPlease note that we are not a direct lender, and we do not directly provide loans ourselves. Our website will aid you in the process of finding a loan that best matches your needs.
TWe have contracts in place with most of the reputable banks and lenders, and based on your personal profile, we will match you with a provider and assist you in submitting your application.
- Up to R80,000 payable in 72 months!
- S.African citizen?
- 18yrs and over?
- Net Income R6250 and over?
Submit your Application Online.
Our friendly staﬀ will perform the necessary credit checks and calculate how much you can aﬀord.
Credit Check & Affodibility Asessment
Having conducted checks on yur profile, we will determine the terms of the loan and conﬁrm the amount that you have qualiﬁed for after receiving your documemnts.
Cash in a Moment - Same day Payout
An EFT will be made into your bank account as soon as the contract has been signed and payment details have been captured.
Office Business Hours
Monday - Friday 08:00am-16:30pm CAT
Saturday 08:00am-13:30pm CAT
Sunday - Public Holidays CLOSED
Online Business Hours
Everyday 24Hrs Central African Time