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MISTER CASH GROUP FINANCE  LENDING POLICY

Purpose

The purpose of this Lending Policy is to ensure that MISTER CASH GROUP FINANCE operates responsibly, ethically, and in full compliance with the National Credit Act (NCA) of South Africa. The policy guides how loans are assessed, approved, and managed to protect both the company and its clients from reckless lending and over-indebtedness.

Eligibility Criteria

To qualify for a loan with MISTER CASH GROUP FINANCE, applicants must meet the following requirements:

  • Be a South African citizen or a legal resident with valid documentation.

  • Be 18 years or older.

  • Have a verifiable and consistent source of income (salary, pension, or other regular income).

  • Have an active bank account registered in their name.

  • Provide a valid South African ID, recent payslip or proof of income, and three (3) months’ bank statements.

Disqualification Criteria

MISTER CASH GROUP FINANCE shall not approve or grant credit to any applicant who falls within any of the following categories:

  • Individuals who are subject to debt review or administration in terms of applicable legislation;

  • Applicants who are deemed over-indebted, as determined through affordability assessments and verified credit bureau information;

  • Applicants with existing credit defaults, adverse credit listings, or a demonstrably poor credit repayment history;

  • Applicants who provide false, misleading, incomplete, or inaccurate information during the credit application process, including non-compliance with statutory FICA and identity verification requirements, such as failure to submit a clear selfie photograph holding a valid identity document.

Where an applicant is identified as being under debt review, administration, over-indebted, or having outstanding defaults, the credit application shall be automatically declined without exception.

Affordability Assessment

Before granting any loan, MISTER CASH GROUP FINANCE performs a detailed affordability assessment which includes:

  • Verifying income and expenses.

  • Reviewing credit bureau reports for defaults and existing credit obligations.

  • Determining the applicant’s risk category (Low, Medium, or High).

Loan approvals and limits are based on verified affordability to prevent over-indebtedness.

  • Loan amounts range up to R8,000, depending on the client’s risk profile.

  • Interest rates and repayment terms vary according to the applicant’s risk category.

  • Repayments are made via DebiCheck debit order to ensure reliability and convenience.

  • Late payments will attract penalties and additional charges as per the signed loan agreement.

  • If a client defaults, they have 20 business days to make payment or arrange a repayment plan.

  • Accounts not settled within this period may be handed over to collections or legal recovery.

  • MISTER CASH GROUP FINANCE is committed to:

  • Promoting financial responsibility.

  • Ensuring transparency in all credit agreements.

  • Protecting clients from over-indebtedness through proper credit vetting.

  • Operating under the principles of fairness, dignity, and respect.

  • This policy is reviewed periodically to ensure compliance with South African financial regulations and to adapt to market or legal changes.

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