National credit regulator
Koodo is registered as credit provide with National Credit Regulator (NCR). The repayments on our Payday loans are in line with NCR guidelines. Please refer to the example below:
|
Cap Amount |
Initiation fee |
Service fee |
Interest |
VAT |
Total Rep |
|
R 500.00 |
R 75.00 |
R 85.00 |
R 26.00 |
R 24.00 |
R 710.00 |
|
R 1000.00 |
R 150.00 |
R 85.00 |
R 50.00 |
R 32.00 |
R 1370.00 |
|
R 2000.00 |
R 250.00 |
R 85.00 |
R 95.00 |
R 50.00 |
R 2480.00 |
Note: the above table is only an example and it should only be viewed as such. Contact us for comprehensive quotation.
Late payments
Non payment
Continues Non-payment of loan will result in additional charges being debited to your loan account. After 60 days of non-payment, your account will be handed over to external debt collecting attorneys. The attorneys may add further charges to your account. And your credit rating will also be negatively affected.
Loan Renewal
Clients may renew their loans for as long as they require the funds. The loan renew may be done after every successful collections. There is no waiting period.
Credit Limit Increases
We review credit limits every time the clients make a request upon renewing their loans.
