How much do you need?

When is your next payday?

Interest:
Fees:
Total Repayment:

Enter your South African ID Number




By submitting your information you are allowing or providing FAK'IMALI with a consent to do a credit check with a credit bureau


Please note that these are only approximate figures. All rates are calculated on a daily basis as stipulated by the National Credit Regulator. Please request a quote from us to determine the actual repayment amount and installment(s) should you wish to apply for a loan.
 

APR

3% per month (which equates to a maximum of 36% APR).

Repayment Terms

Repayments will be made over no less than 1 month and no more than 2 months. 

RENEWAL POLICY

No Renewals of Loans are automatic. All New loans are subject to employment and affordability criteria. A Consumer will qualify for the same amount if it is paid successfully for 3 times. Thereafter limit may be reviewed depending on consumer’s Financial circumstances and affordability. No additional fees are charged to Renew a loan. Each loan carries its standard fees in terms of Chapter 5 of the Credit Act No 34 of 2005.

COLLECTION POLICY

All Collections are done by NAEDO Debit orders and soon to be introduced AC (Authenticated Collections) via FNB.

NON-PAYMENT

Non-payment will result in a R60 service fee charge if the loan is arrears for 30 days. Additional Interest of 3% per month may also be added for up to 2 months. After this the Debt will be handed over to our external collection agency and their Attorneys. Not paying your loan could impact your Credit Rating and make it difficult to qualify for finance at other Credit Providers.

EXAMPLE

If R2000 is borrowed for 20 days.
Initiation Fee: R265.00
Service Fee: R40.00
Interest: R45.30
VAT: R42.70

Total to Repay: R2393.00

What We Do

What We Do

Are you looking for emergency funds (immediate travel to a family gathering and school fees etc.? Fak’imali Cash Loans could be an answer to your cash needs.

More Information
Simple and fast

Simple and fast

You just need to follow a few simple steps and we will call you back. Once you are approved money will be deposited into your bank account within 24 hours.

Apply Today

It is Fak’imali Cash Loans’ responsibility to ensure that our borrowers understand all contract terms.

 

Personal loan: Borrowing of money from Fak’imali Cash Loans for your personal use.

 

Loan agreement: A written agreement between borrower and lender, incorporating the terms and conditions of the loan and the repayment of the loan.

 

Loan repayment: This communicates the amount of money that needs to be paid back to service your loan. This amount will include once-off initiation fee, service, interest or insurance fees.

 

Loan term: Duration given to a borrower to pay back the loan. In the case of Fak’imali payment terms is thirty (30) days from the date the loan is granted.

 

Loan protection insurance: Insurance taken out by the borrower to ensure repayment of the loan. This covers you in the event that the person passes away or when unable to earn an income due to illness or disability.

 

Interest rate: The percentage that is charged for the loan. The interest rate charged is the percentage of the total amount borrowed.

 

Credit history: History of the borrower’s ability to service their accounts/debt. The period of time the debt was held, including the amount owed and if payments were regularly paid on time. A good credit history puts the borrower in good stead to obtaining the loan and getting it approved easily and quickly. Your credit history will be requested as part of a credit report.

 

Loan account: Account opened after conclusion of the loan agreement.

 

Initiation fee: Once-off fee charged when the loan agreement is initiated.

 

Service fee: This is a monthly fee debited from the borrower’s account for the administration costs of the loan amount.  In Fak’imali Cash Loans’ case this will be over thirty (30) days only, given that the loan period does not exceed thirty (30) days.