Interest, Fees and Charges
The Interest payable on the Loan Amount is fixed and will stay the same for the full duration of the Agreement at the percentage set out in the Quotation.
Interest will be calculated on the average daily outstanding balance, accrued daily and shall not exceed the maximum rate allowed by the National Credit Act 34 of 2005.
You will be charged Interest on the Principal Debt from the date on which the Loan is made until the full Settlement Value is paid to us.
A monthly service fee will be levied and added to the Principal Debt. The amount of this service fee is provided in the Quotation.