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Customers can apply online or fax us their loan application including the quote/invoice from the retailer / supplier, if available. |
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Online applications will be processed immediately; the retailer / supplier and the customer will be notified of an in "principal approval" or other outcome, in minutes. |
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Under normal circumstances, applications are processed within 60 minutes, after receipt, provided that the application form was fully complete and signed by the applicant. |
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If the loan is "approved in principal", we will request standard documentation, such as a copy of salary advice, ID document, 3 months bank statements and proof of physical address, to complete the application. |
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Once we have received these documents, we will prepare a loan agreement, and arrange for signature. |
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Occasionally, we may require additional documentation, which we will request at the time of the approval. |
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Interest rates offered are very competitive and market related, and based on the applicants risk profile. |
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Loans are repaid over fixed terms, between 6 to 60 months. |
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All credit decisions are made in line with all regulations such as the NCA. |
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This calculator calculates the estimated monthly installment that you will pay on a loan facilitated through Finconnect. The installment is calculated at an average rate of 17% p.a intrest and the available repayment terms are 12, 24, 36, 48 or 60 months.
Please note that the monthly instalment quoted is just an
approximate repayment, that was calculated at an interest rate of 17% p.a.
It also includes an initiation fee of 10% of the loan amount with a maximum
of R1000 excluding vat, and a monthly service fee of R50, excluding vat.
Also included in the monthly repayment quote is, credit life insurance of approx R4,25
per R1000.
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