Short-Term Loan Risk Check

Before you take a loan from a mashonisa or payday lender, shows what the loan really costs you and checks for warning signs, including things that are illegal, like a lender keeping your bank card, ID or SASSA card.

Needing cash before payday is common, and there is no shame in it. Answer a few questions about the loan you are thinking about, and see the real cost first. Private. Your employer never sees your answers. You can stop anytime.

Private: your answers stay on this device and are not saved. You can stop at any time.

Is the lender registered with the National Credit Regulator (NCR)?
Will you get a written agreement showing the amount, all fees, the total to repay and the dates?
Does the lender want to keep your bank card, PIN, ID document or SASSA card until you repay?
Has the lender, or anyone working for them, threatened you or your family, or taken money from your account without agreement?
Are you being asked to pay a fee before you receive the loan?
Would this loan be used to repay another loan?
Have you borrowed from a mashonisa or payday lender in each of the last three months?
After repaying on payday, will you still have enough for food, transport and rent?
Have you tried other options first (a salary advance from your employer, asking the creditor for more time, a relative, your stokvel)?