Question 1

Who qualifies for a loan?

Accepted Answer

You must be 18 years or older and either employed or a business owner. Employed applicants provide 3 months payslips and 3 months bank statements. Business owners provide 6 months bank statements and a CK, CoR 14.3 or registration certificate. Everyone provides a copy of their ID or Passport.

Question 2

How long does approval take?

Accepted Answer

Approval is typically processed within the same business day once all required documents are received and verified.

Question 3

What is your interest rate?

Accepted Answer

We charge 5% per loan agreement per month, plus an initiation fee (R165 + 10% above R1,000), a contract fee (R75), and a service fee (R60 per month). All fees are disclosed upfront before any agreement is signed.

Question 4

Do you require collateral?

Accepted Answer

Loans above R10,000 may require collateral as security. Collateral remains pledged until full settlement of the loan.

Question 5

Can I settle my loan early?

Accepted Answer

Yes. You may settle your loan in full at any time prior to the agreed maturity date. Interest will be recalculated up to the settlement date only, in accordance with the National Credit Act. A settlement quotation must be requested in writing.

Question 6

What happens if I miss a payment?

Accepted Answer

Missed payments may result in additional charges as permitted by law, a credit bureau listing, and potential legal recovery processes. Cancellation of a debit order does not cancel the underlying debt obligation.

Question 7

Do you offer online applications?

Accepted Answer

Yes. Online applications are available and recommended for faster processing. By applying online, you consent to electronic communication and credit checks.

Question 8

How is my personal information protected?

Accepted Answer

Agapi Financial Solutions processes all personal information in full compliance with the Protection of Personal Information Act (POPIA). Your data is secured using administrative, physical, and electronic safeguards and is never sold or rented.

Question 9

What is the debit order process?

Accepted Answer

By signing the loan agreement, you irrevocably authorise Agapi Financial Solutions to deduct the agreed repayment amount via debit order from your nominated bank account on the agreed date.