Code of Practice/Policy on responsible lending

MPOWA Finance(Pty)Ltd subscribes to the National Credit Regulator's policy on responsible lending. Our lending criteria are conservative by industry standards as can proved by our low Bad Debt percentage.

We base our loan decisions on a variety of factors taking into account your Gross Salary, Net salary after deductions, length and type of employment as well as a detailed credit check from a credit bureau that uses publicly available information to check your credit history and account payment habits. The credit bureau will also give an indication of any fraudulent activity related to your ID number.

All loan offers show all fees clearly on the quotation page. Since our loans are small amounts intended to get you through to payday, our system will offer you the maximum amount possible. Bearing in mind that our loan amounts vary from R500 to R8000, you may at any time before you sign and accept the loan offer, decline the offer in favor of a smaller amount.

Fees including the APR

MPOWA Finance(Pty)Ltd 2011/128825/07 is registered with the National Credit Regulator NCRCP6666 and charges interest and fees in terms of the National Credit Act 34 of 2005.

We offer Short Term Credit agreements (term less than 6 months and amounts not exceeding R8000).

Each credit agreement is subject to an initiation fee of 16.5% of the capital amount on the 1st R1000 then 10% on each amount over R1000 plus VAT. A service fee of R60 per month plus VAT. Interest of 5% per month and 3% on additional loans in same calendar year

All fees are disclosed on the quotation page of each loan contract offer sent.