A broker doesn’t actually lend you money, but shops around to find a loan company known as a ‘lender’ that is willing to lend to you.
When it comes to borrowing money, a lender, subject to successful completion of an affordability assessment, will issue the loan to you directly. Whereas a broker will search for a lender from the whole market or restricted panel in order to find you possible loan options that suit you and your circumstances.
Maximum APR 32% per annum. Representative example: Loan amount R100 000, terms: (Annual Percentage Rate) 28%, monthly service fee R68.40, monthly repayment R4558.00. The interest rate will depend on the loan amount, loan term, and credit profile of the applicant.
If a client is up to date with his loan repayments, they may qualify for a second or third loan depending on the criteria as set by the loan company. The client will have to apply again and the loan provider will look at the clients profile, affordability, etc. The loan provider will then make a decision based on the rules and regulations as set by the NCR..
We value the information that you choose to provide us and will therefore take reasonable steps to protect your personal information from loss, misuse, or unauthorised alteration. Capital Loans may share personal information with our business partners if that information is required to provide the product or service you have requested. However, our business partners will adhere to using your information only as directed by Capital Loans.
.You need to be working at your current employer for not less than 6 months .
Your salary must be paid into your own account, or a joint account in your name
You cannot apply if you are: TEMP WORKER, DOMESTIC WORKER, SELF EMPLOYED, or if you ONLY EARN COMMISSION.
You cannot apply if you are under or have applied for: Administration, Sequestration, Liquidation or Deb Counselling (Debt Review).
