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I needed to pay my son's school fees the same day. The banks were too slow but luckily MPOWA Finance were able to help. I got the cash in my account within 2 hrs without leaving my desk!

Mr Maboko, Kathlehong

Testimonials one

I wanted a cash loan that was easy to apply for each month. With MPOWA Finance I never left my desk when applying for a new loan. I uploaded all my documents and just waited for the money!

Mr Moyo, Yeoville

Testimonials two

I needed a personal loan fast and could not take time off of work. With MPOWA Finance I got an INSTANT decision and was able to track my loan’s progress online! So easy & convenient.

Mr Monedi, Soweto

Testimonials three

I needed cash for groceries a week before payday. MPOWA Finance gave me INSTANT approval and I got cash in my account on the same day!

Ms Ngwenya, Orange Farm

Testimonials four

I was broke at months end and urgently needed money for petrol. I tried MPOWA Finance and was impressed with the slick application process. It was so easy to submit my documents and I had the cash in no time!

Mrs Brown, Fourways

Testimonials five

I needed to pay my son's school fees the same day. The banks were too slow but luckily MPOWA Finance were able to help. I got the cash in my account within 2 hrs without leaving my desk!

Mr Maboko, Kathlehong

Testimonials one

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Interest and fees

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Non-payment procedures

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Renewal policy

Fees and interest charges by MPOWA Finance (Pty) Ltd in terms of chapter 5 of Credit Act no.34 of 2005:

- Initiation Fee of 16.5% of loan amount up to R1000, thereafter 10%. Limited to 15% plus VAT

- Service Fee of R60 per month.

- Interest of 5% per month (.17% per day. 60%p.a) for the first loan in a Calendar year. 3% (0.1% per day. 36%p.a) for any loan thereafter in that calendar year.

Illustrative example:

Loan Amount R1000 taken out on 1st of the month repayable on 31st of the month.

Initiation Fee: R171 incl VAT

Service Fee: R68.40 incl VAT

Interest: R50 (1st loan) subsequent loan R30

Interest rate: 5%pm 60%pa 1st loan in a calendar year. 3%pm 36%pa for subsequent loan taken out in that same calendar year.

Credit Cost Multiple incl VAT 1.29 1st loan & 1.27 for a subsequent loan in same calendar year.

Outstanding Loan Amount: R1289.40 1st loan R1269.40 subsequent loan.

Illustrative 347% APR 1st loan 323% APR subsequent loan.

- Interest of 3% per month will accrue on all outstanding balances

- All attempts will be made to contact the client to agree repayment terms, whereafter the account will be handed over to an external Debtor Collector who will add on their collection fees.

- Non - payment will result in a client’s National Credit Profile showing an unpaid account in arrears. Other credit providers assess these credit profiles when making lending decisions. Non-payment will impact your Credit Rating negatively and will affect future credit applications.

- Renewal is not automatic and is subject to employment and affordability criteria.

- From time to time MPOWA Finance(Pty)Ltd reserve the right to do a new enquiry on your credit profile and readjust your loan offer if your circumstances have changes since first approval.

- Upon reapplication you will qualify for the same amount until you have successfully repaid 3 consecutive loans. Thereafter, if you feel your employment or credit circumstances have improved, you may apply for an increase through your assigned loan officer.

- No fees are charged to renew/ reapply for loans.

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Interest and fees

Fees and interest charges by MPOWA Finance (Pty) Ltd in terms of chapter 5 of Credit Act no.34 of 2005:

- Initiation Fee of 16.5% of loan amount up to R1000, thereafter 10%. Limited to 15% plus VAT

- Service Fee of R60 per month.

- Interest of 5% per month (.17% per day. 60%p.a) for the first loan in a Calendar year. 3% (0.1% per day. 36%p.a) for any loan thereafter in that calendar year.

Illustrative example:

Loan Amount R1000 taken out on 1st of the month repayable on 31st of the month.

Initiation Fee: R171 incl VAT

Service Fee: R68.40 incl VAT

Interest: R50 (1st loan) subsequent loan R30

Interest rate: 5%pm 60%pa 1st loan in a calendar year. 3%pm 36%pa for subsequent loan taken out in that same calendar year.

Credit Cost Multiple incl VAT 1.29 1st loan & 1.27 for a subsequent loan in same calendar year.

Outstanding Loan Amount: R1289.40 1st loan R1269.40 subsequent loan.

Illustrative 347% APR 1st loan 323% APR subsequent loan.

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Non-payment procedures

- Interest of 3% per month will accrue on all outstanding balances

- All attempts will be made to contact the client to agree repayment terms, whereafter the account will be handed over to an external Debtor Collector who will add on their collection fees.

- Non - payment will result in a client’s National Credit Profile showing an unpaid account in arrears. Other credit providers assess these credit profiles when making lending decisions. Non-payment will impact your Credit Rating negatively and will affect future credit applications.

Icon tick

Renewal policy

- Renewal is not automatic and is subject to employment and affordability criteria.

- From time to time MPOWA Finance(Pty)Ltd reserve the right to do a new enquiry on your credit profile and readjust your loan offer if your circumstances have changes since first approval.

- Upon reapplication you will qualify for the same amount until you have successfully repaid 3 consecutive loans. Thereafter, if you feel your employment or credit circumstances have improved, you may apply for an increase through your assigned loan officer.

- No fees are charged to renew/ reapply for loans.