Express Finance is all about providing you with a short term cash loan into your bank account for those unexpected expenses that hampers your cash flow. The maximum term for the payday loan is one month and you can select on the slider how much you need and for how long. There are 3 option buttons above the slider. This affects how the slider pricing works and are as follow. First time user, Normal user and Government employee.
First time user is for consumers using the site for the very first time and this option will provide the consumer with 40% off on the Initiation and service fee.
Normal user is for 2nd and 3rd loans for all consumers except government employees and this option charges the standard NCR Rates
Government Employee is meant for the following consumers. Government, State, Semi-State owned companies. Examples are: SANDF, SAPS, KZN Health, Education, Ethekwini Municipality, and Transnet.
If you are unsure about if your company falls under this category, select it and we will inform you if it does or not.
It’s very simple. Select your requirements on the sliders and click on apply. If you do not have an account yet, click on “Create an Account”. If you already have an account, just log into your account and follow the onscreen prompts. The user requirements must be checked and complied to. Please note that if you do not meet these requirements, you may not proceed with the application. Please do not provide false information as we will pick it up in a credit check or employment confirmation. On first application all your information is required and an affordability is also completed. On further applications this information is provided for you to review and you do not have to enter it again. Your credit agreement is displayed to you and you can even download it under “My Account”. Finally submit the application and you will receive confirmation via E-mail.
The application will now be checked. A credit check will be done and if required we might need supporting documents like a pay slip, copy of ID and a bank statement. Once we have this, the application will either be approved or declined and you will yet again be notified via E-mail of the outcome.
Credit Agreement and Debit Order Mandate is signed digitally and is available to both parties at any time. Your IP Address is also captured on the document.
The sliders on our site let users borrow up to R8,000.
First-time clients can borrow a maximum of R3,000.
If you’re an existing customer, we may increase your limit up to R8,000 based on your net salary and affordability.
For your first loan, you can borrow funds for 61 to 65 days.
After that, the system sets your loan term to your next payday.
We are able to Debit the following Banks:
Standard Bank
FNB
Absa
Nedbank
Capitec
Bidvest Bank
African Bank
Tyme bank currently only has limited debi-check functionality, so we cannot debit Tyme Bank at present.
Your Repayment is calculated on your Loan amount and consists of Interest and initiation and admin fees as set out by National Credit Act no 34 of 2005 section 102
Interest is 3% per month.
As soon as the Debicheck mandate is approved, we usually process the loans at the earliest possible chance we get. For FNB consumers it is immediate. For other Banks it could be that evening or midnight the following day.
You may not apply on someone else’s behalf.
Each consumer must complete and submit their own application.
The applicant must sign the credit agreement personally.
Yes, this is possible if both loans stay within your current account limit.
If additional loans exceed your limit, we won’t approve them.
Once you repay your loan, we reassess your affordability.
If you qualify, we may increase your account limit.
We take strong measures to protect your personal information.
Your session on our website uses SSL encryption to prevent unauthorized access.
We update the site regularly to fix security vulnerabilities.
Our team follows a strict privacy policy, which you can read on our website.
We never share your information with third parties.
If you have concerns, please review our privacy policy or contact us directly.
We are not unreasonable and understand that Retrenchments and layoffs can take place. Speak to your consultant to come to an arrangement.
If you can’t repay your loan, contact your consultant to discuss a possible payment arrangement.
If you fail to repay and don’t communicate with us, we will send you a Section 129 Letter of Demand.
You will then have 10 days to respond before we start legal action to recover the funds.
This process will negatively affect your credit record.
Express Finance operates as a registered credit provider under the National Credit Regulator.
It depends on why we declined your loan.
We require at least 12 months of permanent employment.
If you don’t meet this, wait until you do before applying again.
When we decline a loan based on affordability, you may reapply once your financial situation improves.
We assume over-indebted consumers won’t recover within a few months.
Due to costs, we only perform another NLR credit check after a longer period.
Our system flags over-indebted applicants.
If you apply frequently after being declined, we may reject your application immediately.
We might skip the credit check and not send another decline email.
If you abuse the platform by applying monthly, we may block your account from further applications.
We Debit your loan repayment on your salary date and monitor it until settlement, even if your salary arrives late. Debit Tracking cycle usually lasts for 5 days.
You may apply again the very same day that the Debit Order runs on your bank account.
Yes, we do. Our team follows all requirements set by the National Credit Act.
Transparency is a priority—we clearly display all fees before you agree to anything.
You’ll find the credit agreement simple, clear, and easy to understand.
Before making any credit bureau enquiries, we always request your consent.
Using the details you provide, we perform a full affordability assessment to ensure responsible lending.
Compuscan
(021) 888-6000 | Fax (021) 413-2424
TransUnion
(0861) 482 482
Experian
(0861) 10 56 65
Above are the details for the Credit Bureau, only you can contact them if you want to dispute something about your credit profile which is incorrect.
The National Credit Act protects consumers during financial stress.
If you’re over-indebted, speak to a debt counselor and start the debt review process.
A debt counselor takes over your credit agreements and negotiates payment plans with your creditors.
They send monthly payments to your creditors to prevent legal action.
Administration works similarly but includes other debts and only applies if you owe less than R50,000.
The law bans new credit if you’re under debt review or administration.
We follow responsible lending practices and decline loan requests from over-indebted applicants.
If you’re facing financial difficulty, contact a registered debt counselor for help.
If the bank account isn’t in your name, you don’t have the authority to approve debit orders on it. You therefore cannot use that account to apply for a loan.
The Minimum Net Salary after deductions required to qualify for a loan is R10000.