Frequently Asked Questions

 

Q. What is the Pre-Agreement Statement and Quotation?

A. The Pre-Agreement acts as the quotation for your loan, should you accept the quote, it will serve as a tax invoice. It includes the documented and contractual summary of your loan, personal information, our company information, and T's & C's as required by the National Credit Act (NCR).

Q. How to apply for a loan?

A. Simple, safe and easy. Simply choose your loan amount and repay date on the slider and click on the Apply button. Follow the application process and submit.

Q. When will the money be paid into my account?

A. It takes 24 hours for the approval of your loan and the more accurate you complete the application process, the quicker we can pay you the money out.

Q. What if my repayment amount cannot be paid back on my selected Repayment Dates?

A. If your repayment amount can't be paid on the day of the Debit Order, you need to inform us ahead of time, so that alternative arrangements can be made. You can contact us by phone or email.

Q. How do I repay my loan?

A. We will collect your instalment repayment according to the terms selected in the application process via debit order. Your full repayment(s) will include the original loan amount and all additional fees involved.

Q. Is my information safe and secure?

A. Your information is valuable to us and we work responsibly with it and your privacy. See our Privacy Policy for ways in which we protect your information. For us to process your loan, we need your information to see if you can afford the credit that we extend to you.

Q. Can I take out more than one loan at a time from Selective Loans?

A. Because we are a responsible lender, we only provide you with one loan at a time for your own safety.

Q. Can anyone apply for a loan?

A. If you are 18 years old with a South African citizenship and no debt administration or has never applied for debt review, you can apply! A copy of your ID, your latest payslip and latest 3 months' bank statements will be needed.

 

 

 

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