Minimum Loan Amount 

R2 000 

Maximum loan amount 

R350 000 

Minimum Term 

6 months 

Maximum term 

72 months 

Payout 

Settlement accounts first, remainder direct to the consumer to the same bank account that has been provided for assessment 

Credit Life 

Mandatory, R4.50 per thousand. Covers death, permanent and temporary disability and retrenchment 

Minimum Salary 

Minimum R10 000 

Self employed 

Only if they pay yourself a salary. 

Minimum Transunion credit score 

592 

Minimum Age 

18 

Maximum age 

60, but term must end six months before the customer turns 60 

Citizenship 

South African or permanent resident 

Salary frequency 

Monthly 

Employment type 

Full time, or with a contract that expires no less than six months before the loan 

Affordability 

Debt may not be more than 40% of Gross Income 

Financial Standing 

• 
  No judgements 

• Not applied for / not under administration, provisional or final sequestration, or debt review / debt counselling 

• Not disputing credit profile with any credit bureaus 

• Not currently over-indebted, not going through financial difficulty  

• Have not been declared mentally unfit by an order of court 

• No loans on arrears 

• Maximum of 4 enquiries in past 14 days 

• Debt to income ratio 40% or less of gross, after settlements and instalments. 

• No more than three unpaids on the bank statement. 

Document 

Requirement 

For foreign nationals, Passport 

Must be valid for at least the next three months 

For foreign nationals, Work Permit 

Must be valid for at least the next three months 

Copy of ID 

Photo of ID or a certified copy. Card ID’s copy must be front and back. 

Proof of address 

No older than two months 

May be any one of the following: 

• Bank statement 

• Phone account 

• Rates account 

• Lights and water account 

• Any government correspondence (eg. SARS) 

• Rental statement 

• Unexpired lease agreement 

Letter, on an official municipality letterhead, from the ward councillor. 

Letter of appointment 

In the event that the employer does not, for whatever reason, provide telephonic confirmation a letter of employment must be requested. 

The letter of employment may be provided by the employer or the applicant as long as we have the recording clearly stating that this is the internal policy or procedure of the employer. 

This will be obtained by i_lend 

Bank Statement 

Latest bank statements must be provided, not older than 5 working days 

The name of the account holder should appear on the bank statements and correspond to other supporting documents 

Type of account and bank must accepts Debi Check 

Bank statements must reflect 3 salaries and must be for 3 consecutive months (updated 90 days statements) 

Fonts should be aligned throughout the statement and all transactions must be clear 

Bank statements must have original and/or e-stamp of the bank and the bank’s logo. For the period between the close of the last bank statement and today, a transaction history is acceptable. 

The credits and debits must balance i.e. balances carried forward from one page to the next, checks transaction descriptions and add amounts to verify authenticity of the statements 

The salary deposit on the bank statement must correspond with the net income on the payslip  

Obligations reflecting on the bank statement that do not appear on the credit bureau must be added under client expenses. Look specifically for recurring payments. 

Where there are rejected financial debit orders for three consecutive months check if customer has proof that these were paid or cancelled 

Insurance debit orders reflecting on bank statements and not declared must be included in affordability calculation (under living expenses) 

Salary deposit and pay date must be consistent, consider December as irregular due to different pay dates, consider for mine workers when on leave and there is no full pay 

Payslip 

Payslip must be recent (not older than 45 days) Name/surname and ID number on the payslip must correspond with ID, bank statement and credit bureau.  

Gross and deductions should equal the net income and net income on payslip must correspond with the net income on bank statements (3 months) 

The name of the employer must be visible. Handwritten payslips are not acceptable 

Approved Sectors 

Mining, Government or Public Sector, Financial Services, Retail Services, Information Technology, Personal Services, Manufacturing, Transport, Construction and Agriculture, Forestry or Fishing