Make sure you have the means to meet your monthly instalments

Carefully consider your other monthly financial obligations. Make a list of both fixed (e.g. housing, car) and variable (e.g. food, clothing, children’s education) expenditures.

Make sure that you are still comfortably within your disposable income level after adding the monthly instalment to all your financial obligations.

Borrow only what you really need, nothing more
Taking on a loan is a heavy responsibility. Do not borrow for frivolous reasons. Borrow because you need to and have carefully considered your reasons for doing so.

Pay your monthly instalments promptly to avoid late charges
Keep track of your instalment due dates or consider applying for hassle-free GIRO payments to avoid late payment interest and administrative charges.

Payment Protector is 100% optional
Payment Protector is insurance which covers your outstanding loan amount in the event of accidental death, accidental total and permanent disability, terminal illness, and involuntary retrenchment from your current full-time employment and is a useful safety net. However, it is not compulsory and you do not have to apply for it if you do not want to.

Ensure that you clearly understand the terms and conditions of your loan
We strongly advise that you read and fully understand the terms and conditions of your loan before signing the loan agreements. Make sure the information you have provided is accurate and confirm that the loan and instalment amounts are what you understand it to be.

Avoid multiple sources of credit, make it easier for you to manage and track your loans
Exercise better control over the sources of your credit. You might unwittingly overstretch or confuse yourself.