CASH LOAN TERMS AND CONDITIONS

1. Agreement

You confirm that you have had adequate opportunity to read and understand the terms and conditions contained in this Agreement and that you are aware of all the terms printed in bold.

This Agreement is between you and Mamaloge Holdings Proprietary Limited (“Us”, “We”).

2. Cash Loan

If you qualify for a cash loan, you can apply and receive a loan up to a maximum of R1,000.00 (one thousand rand), which we may review occasionally.

3. Fees and Interest

We will charge any fees or interest on the cash we loan you.

4. Loan Amount

You will receive a cash loan payable in 30 days as per the chosen loan amount.

5. To Qualify

To receive a cash loan, you must:

  • Have a bank account
  • Provide proof of income
  • Submit three months’ bank statement
  • Show proof of residence (not older than two months)
  • Provide consent to authorize us to debit your account electronically for the duration of this Agreement.

6. Duration of this Agreement

As soon as you sign this Agreement, you must follow and abide by these terms and conditions. This Agreement will continue until you pay back the cash loan in full.

7. Payment Details

You will repay the cash loan to us within 1 (one) month on or before the due date. If you do not repay the cash loan, you understand that you will likely not qualify for a loan with us and may have an adverse credit rating.

8. Statement

For the duration of this Agreement, we will provide you with a statement of account on or before the last day of every month. If you change your contact details, please inform us immediately.

  • To request a statement, contact Mamaloge Holdings (Pty) Ltd at +27 72 455 9907.

9. Early Settlement

You can repay the cash loaned to you before the end of 1 (one) month with no penalty fees.

Bank Details:

  • Bank: First National Bank
  • Account Holder: Mamaloge Holdings (Pty) Ltd
  • Account Number: 62911837469
  • Branch Number: 270450
  • Client Reference: ID Number

10. Your Right to Terminate the Agreement

You can terminate this Agreement only if you pay us the total amount of the cash loaned to you.

11. Our Right to Terminate the Agreement

If you do not follow these terms and conditions, we have the right to take legal action and terminate this Agreement.

12. Addresses for Receiving Documents

Your physical address provided in the Agreement will be the official address where you and we will accept documents, legal notices, and court papers. Notify us via registered mail or by hand if you change your address.

13. Default

You will be in default if:

  • You fail to pay any amount due on/by the due date.
  • There is a material deterioration in your financial position.
  • You fail to comply with regulations (including anti-money laundering laws).
  • You breach any terms of this Agreement.
  • We may commence legal proceedings if you fail to respond to a default notice.

14. Your Warranties

By signing this Agreement, you declare that:

  • All information provided is accurate, true, and correct.
  • You read and accepted all terms and conditions.
  • You are financially capable of repayment.
  • You are not under debt review or administration.
  • You will not use loan proceeds for illegal activities.

15. Consents and Disclosures

You consent to us:

  • Conducting identity and fraud prevention checks.
  • Collecting and processing your personal information under POPI Act (2014).
  • Sharing your data with affiliated service providers.
  • Performing credit checks when necessary.
  • Disclosing personal information as required by law.

16. Cession

We may cede or transfer our rights and obligations under this Agreement without further notice to you. You may not transfer your rights without our written consent.

17. General

  • This Agreement is governed by South African law.
  • Any insolvency application will make your outstanding amount immediately payable.
  • A certificate from our managers stating the amount due shall serve as sufficient proof unless the contrary is proven.

DEBIT ORDER AUTHORISATION

  1. You authorize Mamaloge Holdings (Pty) Ltd or its agents to debit your account on your salary/grant date until the loan is fully repaid.
  2. You confirm that the account details provided are in your name.
  3. You accept liability for any losses due to incorrect account details.
  4. All debit transactions will reflect in your transaction history.
  5. Your bank will treat this instruction as given by you.
  6. This authority may be assigned to a third party if the loan is ceded.

 

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