Please complete the Application form below.

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ID NUMBER:*
TITLE:
FIRST NAME : *
LAST NAME : *

CELL NUMBER: *

WORK NUMBER:
FAX NUMBER:
E-MAIL ADDRESS:*
CONFIRM E-MAIL ADDRESS: *
ARE YOU BLACKLISTED? :
LOAN AMOUNT : *
PURPOSE OF LOAN: *
OCCUPATION:
SALARY DATE : *
SALARY FREQUENCY : *
GROSS INCOME : *
BANK NAME : *
ACCOUNT TYPE :
ACCOUNT NUMBER : *
BRANCH CODE : *
By ticking this box and submitting this application, you (the applicant/client) confirm that you (the applicant/client) have read the Terms of Service, Terms of Use, Legal Disclaimer, Service Package and the Privacy Policy (Collectively known as the Policies) of Loan Detector SA and fully understand the contents thereof and are satisfied therewith. If you do not agree to the Policies, do not submit this application.

 

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The following information refers to the Loan Referral Service of Loan Detector SA, which is a complimentary added benefit to your Convenient Service Package that you have purchased.

Loan Periods as offered by Registered Credit Providers

Minimum period offered by registered credit provider(s): 3 (Three) Months
Maximum Period offered by registered credit provider(s): 60 (Sixty) Months
Loan Types: Secured Loans, Unsecured Loans, Bonds (Mortgage), Personal Finance, Vehicle Finance, Bridging Finance, Debt Consolidation etc.
Our referral consultant(s) and their respective financial Services and Credit providers whom vet our clients to provide a possible loan, subject to the clients’ affordability and credit criteria as prescribed and governed by the NCA (National Credit Act, 2005, DO NOT provide pay day loan services.
Representative Example: Nett loan amount, R 50,000.00, term 36 months, APR (Annual Percentage Rate) 10.71%, fixed nominal rate at 8.84% p.a., one-time Service fee approximately 2.00% of net loan amount. This could apply provided the following: A sufficient credit score and positive affordability criteria at the sole discretion of the credit provider. Please note, this representative example could vary dependent on the service provider granting the credit transaction/agreement.

Implications of late payment of a Loan

i.e. not making payment of an installment on time? You will unfortunately be held responsible for interest charges on any late payments. If you approach the Loan Detector SA affiliated financial service(s)/credit provider(s) who has granted you a loan and discuss your inability to make payment of your monthly installments on time, the Loan Detector SA affiliated financial service(s)/credit provider(s) shall consider your position and if possible, assist to find a suitable solution which may include rescheduling of the loan. If you still do not keep to the arrangement, the matter will be handed over to attorneys, who shall implement the standard legal collection process, to collect all outstanding amounts, which shall include interest and legal costs. This may impact negatively on your ability to obtain credit in future.

Implications of non-payment of a Loan

i.e. not making a payment on your loan installment at all? There are always reasons for non-payment but after a certain point in time, the Loan Detector SA affiliated financial service(s)/credit provider(s) who has granted you a loan will report the loan in arrears. It will then become part of your credit history and will affect how your credit score will be calculated. You will unfortunately be held responsible for interest on any non-payment of your monthly installments. If you approach the Loan Detector SA affiliated financial service(s)/credit provider(s) and discuss your inability to make payment of your monthly installments, your position will be considered and if possible, the Loan Detector SA affiliated financial service(s)/credit provider(s) who has granted you a loan, will assist to find a suitable solution which may include rescheduling of the loan. If you still do not keep to the arrangement, the matter will be handed over to attorneys, who shall implement the standard legal collection process, to collect all outstanding amounts, which shall include interest and legal costs. This may impact negatively on your ability to obtain credit in future.

Code of Practice / Policy of responsible lending

In accordance with the obligations of the Loan Detector SA affiliated financial service(s)/credit provider(s), in terms of Section 81 of the National Credit Act, Act 34 of 2005, the financial service(s)/credit provider(s) is prohibited from entering into credit agreements with a consumer, unless the financial service(s)/credit provider(s) has considered the consumer’s existing financial means, prospects and obligations. The purpose of this clause is to protect you, the individual and to prevent over indebtedness that will place you in a position where you are unable to honour your obligations with a financial service(s)/credit provider(s).

Disclosure of fees including the APR (annual percentage rate)

EXPLAINED: APR (Annual Percentage Rate: The term annual percentage rate of charge (APR), corresponding sometimes to a nominal APR and sometimes to an effective APR (or EAPR), describes the interest rate for a whole year (annualized), rather than just a monthly fee/rate, as applied on a loan, mortgage bond, credit card, etc. It is a finance charge expressed as an annual rate. In general:

• The nominal APR is the simple-interest rate (for a year).

• The effective APR is the fee + compound interest rate (calculated across a year)

According to the National Credit Act, 2005, this is the maximum fee structure of any short term loan of less than 6 months and between R500 and R8000 for a registered financial service(s)/credit provider(s): Short Term Loans (i.e. Loans of up to 6 months of no more than R8 000): 5% per month maximum interest rate. Maximum Initiation fees: R150 + 10% of any amount greater than R1 000 (Maximum fee R1 000)

Service Fees of a Credit Provider

A service fee, is a fee that a financial service(s)/credit provider(s) charges a consumer for servicing a credit agreement between them. The fee is for administering or maintaining the credit agreement. The financial service(s)/credit provider(s) can charge this fee on a monthly or annual basis. It can also be charged per transaction. The Act regulates service fees in a number of ways including by specifying the maximum fees that financial service(s)/credit provider(s) are allowed to charge and how often the fees can be recovered. The current maximum service fee that a financial service(s)/credit provider(s) can charge a consumer is R50-00 a month. If the consumer pays an annual service fee, the maximum that the consumer can be charged is R600-00 per year. If the credit agreement is settled sooner than originally agreed by the consumer and within the year to which the annual service fee relates, the financial service(s)/credit provider(s) must refund the unused portion of the service fee to the consumer. All our registered financial service(s)/credit provider(s) with whom we have pre-arranged agreements are registered with all regulatory bodies in South Africa pertaining to financial services.

Renewal Policy for the Credit Provider

Loans can be renewed but will be to the sole discretion of the financial service(s)/credit provider(s), who has granted the initial loan and will be measured against the affordability and credit criteria of the applicant/client at the end term of the loan.

Renewal Policy for Loan Detector SA

“Renewal” means renewal of the convenient service package offering, offered by Loan Detector SA as per the terms of service, legal disclaimer, privacy policy, terms of use and loan information (collectively known as the “policies”). (please click here to read the Loan Detector SA terms of service), these terms and policies are binding and governed between Loan Detector SA and the applicant/client.