Terms & Conditions, Privacy policy and Credit check authorization

By using our website, application form or our services you agree to our terms & conditions, our privacy policy and credit check authorization. You also agree that you are between the ages of 18 and 65.Nokofin is a broker and agent for multiple credit providers and cannot be held responsible for any loss or application rejections incurred by applying with us, we submit the information received to the credit providers and they have their processes to calculate affordability, credit and employer risks.

The information you provide Nokofin during the application process will be used to find the best, available offer according to your request and credit risk information supplied by the credit bureau’s used by the relevant credit providers. You hereby authorise us and our credit providers to do a credit check & fraud checks to determine risk, affordability and calculate the repayment options. By completing the application form on our website you consent that our credit providers may obtain electronic record copies of your bank statements and/or payslips where deemed necessary.

As we use multiple credit providers you hereby authorize us to send your details to relevant credit providers/financial service providers that maybe able to assist with generating an offer, this information would include your name, surname, Identity number, email address, cellular number and salary information as well as geographical location. No bank details are required by our credit providers to do the initial quote, once you prequalify they would request the full banking details to verify that the account belongs to you and salary information being paid into the account, The banking information will never be supplied to any 3rd parties. All information supplied to our third parties is secure and confidential as well as all information supplied to us via our website. You give consent to the affiliates we use to provide us with your information & credit check authorization if they are applying on your behalf by completing your information on our website or App.Our loan-finding service is absolutely free; you will not be billed for us finding you a loan.

Loan repayment terms range from 12 to 84 months. The maximum interest rate with regards to a Guru Personal Loan is 27.75% per annum (compounded monthly). Your rate will be determined according to your personal risk profile. An illustrative example of a loan at an interest rate of 28% per annum would be: Loan amount R60 000.00 plus a once-off initiation fee of R1 197.00 and a monthly admin fee of R68.40, over 60 months. The total cost of the loan will be R 118 429.00 which is an Annual Percentage Rate (APR) of 30.88%.

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