F.A.Qs

You need to be a South African citizen

You need to be between the ages of 21 and 60

You need to be earning at least R 3 500 per month

You must be permanently employed for more than 6 months

Your salary must be paid into your bank account

We can’t assist anyone under debt review or administration

You need a valid South African identity Document (ID)

You need 2 months latest pay slips

You need 3 months latest bank statements

You need proof of residence, not older than 3 months

We require the original documents.

Electronic pay slip, printed with the company stamp.

Bank statement with a bank stamp.

We can use the electronic pay slips and bank statement.

Yes, as long as the bank statement reflects the client’s initials, surname and full current address.

You have to be working permanently for over 6 months before applying.

Yes you can apply, our friendly consultants will perform the necessary credit checks and calculate your affordability.

You will receive the money within 24hrs.

Yes you can apply for a second loan, our friendly consultants will perform the necessary credit checks and calculate your affordability.

Credit protection insurance is included in the loan contract. The Insurance policy covers death, permanent disability and retrenchment claims during your original loan term.

For further information regarding the cover, please contact our Head office.

You are free to use or choose your own insurance, but proof must be provided of the insurance you have.

Our interest rate in regulated according to the NCR

Initiation Fee – Is calculated at R 165.00 on the first R 1 000.00 advanced plus 10% of the loan amount aver R 1 000.00 plus VAT, capped at 15% of loan amount or R 1 050.00 plus VAT

Service Fee – A standard service fee is charged on a monthly basis which is applied to your loan account.

Fee’s (incl 15% Vat) and interest is based on Chapter 5 regulations of NCA, no 34 of 2005

Credit Protection Insurance – A credit Life premium is charged on a monthly basis which is applied to your loan repayments.

Fee’s (incl 15% Vat) and interest is based on Chapter 5 regulations of NCA, no 34 of 2005

You can contact your Letsatsi branch in order to give you a loan statement.

Please visit your Letsatsi branch or contact Head Office. A settlement letter request form needs to be completed. You will then receive your settlement letter within 3-5 working days.

You can contact your Letsatsi branch, to issue a paid up letter.