Loan Period
Minimum repayment period: 1 TCA (Total Contractual Amount)
Maximum repayment period: 3 TCA
• The client agrees to pay the Capital Debt + Interest + all Costs quoted and accepted in this Pawn / Loan Agreement, within 30 days, or as negotiated between the parties.
• The client and the company hereby agree that the period of the loan may be extended at the sole discretion of the company, BUT ONLY, when and if the total outstanding amount has been paid by the client.
• No discount will be given for early payment.
APR (Annual Percentage Rate) & Fees
• Max. 6% APR
• Storage fees (at rate of 25% per month)
Illustrative Example:
LOAN AMOUNT | INTEREST AT 5% PM | STORAGE FEE AT RATE OF 25% PM | ADMIN FEE | PERIOD OF LOAN | PAYABLE AFTER 30 DAYS |
R 50 000 | R2 500 | R 12 500 | R 2 500 | 30 Days | R 67 500 |