KS85 Cash Loans Company Policy

Last Updated:

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1. Purpose

This policy outlines the lending procedures and standards of KS85 Cash Loans. Our objective is to provide financial services in a responsible, transparent, and ethical manner.

2. Eligibility Criteria

Applicants must:

• Be at least 18 years of age.
• Provide valid identification (National ID, Passport, or Driver’s License).
• Submit proof of income or employment.
• Consent to a credit and risk assessment.

3. Loan Terms

• Loan amounts range from R500.00 to R5000.00.
• Month-end instant loans must be repaid by the end of the month according to the client’s specified payday.
• Interest rates remain fixed for the duration of the loan.

4. Application Process

1. Complete the loan application form online or in person.
2. Submit all required documentation.
3. Approval is typically expected within one to two working days.
4. Sign the loan agreement and company policy, and verify the DebiCheck mandate before funds are issued.

5. Repayment Policy

All repayments must follow the schedule set out in the loan agreement. Clients are required to adhere strictly to the agreed repayment dates.

Collection Method

Loan repayments are processed through the DebiCheck system in accordance with South African banking protocols. DebiCheck automatically deducts instalments from the client’s nominated bank account, based on the terms verified through the client’s DebiCheck mandate.

Early Repayment

Clients may settle their loan early at any time without incurring penalties or additional fees.

Late Payment Penalties

If a repayment is missed, the outstanding balance will increase by a fee equal to 50% of the missed instalment amount.

6. Default and Recovery

An account is considered in default if payment is not received by the due date.

The recovery process may include:

1. Issuing an official payment reminder.
2. Offering the opportunity to renegotiate repayment terms where applicable.
3. If unresolved, initiating legal recovery procedures, which may include:

• Seizing movable assets.
• Reporting the default to credit bureaus.
• Securing a garnishment order to withhold wages until the debt is fully satisfied.

7. Privacy & Confidentiality

• Client information is protected in accordance with the Protection of Personal Information Act (POPIA).
• Personal data is used strictly for loan processing and internal record-keeping purposes.
• Information will only be shared with third parties where written consent has been provided.

8. Code of Conduct

• KS85 Cash Loans treats all clients fairly and respectfully.
• No discrimination occurs based on race, gender, religion, or background.
• Staff members are trained to maintain high ethical lending standards.

9. Complaints & Disputes

• Complaints may be submitted via email to disputes@ks85cashloans.co.za.
• Receipt of complaints will be confirmed within 48 hours.
• Disputes may be resolved through mediation or a formal internal review process.

10. Policy Review

This policy is reviewed annually. Clients will be notified of updates via email. Any amendments will also be published on the company website.

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