Terms of Service

PERSONAL LOAN TERMS:

What’s the difference between a loan company and a broker?

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.

Borrowing money using a broker

Brokers may work well for people who want to try to pin down the ideal loan for them but don’t want the hassle of finding it themselves. The broker acts like a middle man, reviewing your requirements and considering different lenders to find the most suitable loan for you.

Brokers may charge a fee to do the work of finding you a loan whereas others won’t. They will instead receive a commission paid to them by the lender.

Should I use a broker or a lender?

Whether you apply through a broker or directly to a lender will depend on your own preference. If you’re short on time but keen to find a range of possible loans, a broker can do the work on your behalf and search around for the right loan for you.

If you’re able to take the time to compare different loans yourself, you might prefer to apply for a loan directly from a lender. Speaking to them directly can make it easier if you need to communicate any changes or ask questions. It might also save you from paying additional broker fees.

Regardless of if you use a broker or borrow directly from a lender, always ensure you agree to a loan that you can afford to repay throughout the loan term and one which will not place you into financial difficulties and/or prevent you from meeting your other commitments.  Don’t forget to ensure you ask about fees and charges that either the broker or the lender may apply to the loan.

If you’re short on time but keen to find a range of possible loans, a broker can do the work on your behalf and search around for the right loan for you.


Terms of Service

We are not a Lender or Provider and therefore We will not provide finance directly to You; We provide an online loan directory service, We will introduce You to Lenders or Providers of financial services by submitting your online application to the financial service provider of your choice. We will present Your application to one or more of Our Lenders or Providers based on their lending criteria until such time as one of Our Lenders or Providers accept Your application or all Lenders and Providers decline Your application. There is no obligation for You to take up the loan or service with them. You should read the conditions carefully and make a responsible decision on whether You believe their service is right for You. The Lender/Finance Provider will conduct an assessment on You before any decision or offer is made, this may include a full assessment of Your credit history both past and present.

Definitions

“Terms” means these terms and conditions;
“Users” means the users of the Website;
“User Information” means the details provided by You on any application via the Website;
“Website” means the Website or any subsequent URL;
“You/Your/Customer” means a user of the Website;
“Service” means the process in which Qwiekfin matches your application with a Lender or Finance Provider;
“Lender/Provider” means the third party company who may provide you with a loan– financial service.

By applying for a Personal Loan with Qwiekfin and signing the Application form received from this website I confirm the following:

I authorize your agent stratcol to debit my account on your behalf. The debit order agreement may be cancelled by giving thirty days written notice in writing but I understand that any amounts withdrawn while this agreement was in force in owing. Amount set out as follows: Loan directory service fee of R350 paid in 4 equal payments of R 87.50pm over a period of 4 months

Mandate

USERNAME: CreditCentre
ABBREVIATED NAME: CreditCent

I hereby authorize you to issue and deliver payment instructions to the bank for collection against my above mentioned account at my above mentioned bank (or any other bank or branch to which I may transfer my account) on condition that the sum of such payments instructions will never exceed my obligations as agreed to in the Agreement, and commencing on the commencement date and continuing until this Authority and Mandate is terminated by me by giving you notice in writing of no less than 20 ordinary working days, and send by prepaid registered post or delivered to your address as indicated above. The Individual payment instructions so authorised to be issued must be issued and delivered as follows;

R87.50 On the applicant’s / client’s next salary date, post the date of the applicant’s / client’s online / electronic application and R87.50 pm thereafter for 4 months until the mandate is terminated or cancelled. In the event that the payment day falls on a Saturday, Sunday or recognized South African public holiday, the payment day will automatically be the very next ordinary business day. Further, if there have insufficient funds in the nominated account to meet the obligation, you are entitled to track my account and represent the instruction for payment as soon as sufficient funds are available in my account. Monthly on or after dates when the obligation in terms of the agreement is due and the amount of each individual payment instruction may not be more or less than the obligation due.

I acknowledge that all payment instructions issued by you shall be treated by my above-mentioned bank as if the instruction had been issued by me personally.

Disclaimer

This information is intended as a general reference for loan seekers. It is made available on the understanding that Qwiekfin as a result of providing this information, is not engaged in providing professional advice. While Qwiekfin  will make every reasonable effort to maintain current and accurate information, users should be aware that Qwiekfin accepts no responsibility for the accuracy or completeness of any material contained in this article and recommends that users obtain specific financial advice to their own particular needs and requirements with respect to its use.

What Are The Minimum Requirements For A Loan?

  • You need to be a South African citizens with a green bar coded ID.
  • You need to be younger than 63 years of age.
  • You need to earn more than R3 000 per month
  • 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).