Privacy & Terms

Mashele Finance

How We Collect Information:

At Mashele Finance, we collect your personal information through various channels to process your loan application and serve you better. This includes:

Application Form: The details you provide on our website’s application form.
WhatsApp: Any communications through WhatsApp for loan inquiries or support.
Email: We also collect information through email correspondence related to loan applications and other communications.

We ensure that all the information you provide is handled with care and in compliance with the Protection of Personal Information Act (POPIA) of South Africa. The data we collect helps us assess your eligibility for a loan, process your application, and communicate important updates related to your loan account.

Missing Payments and Impact on Credit Score:

It is crucial to adhere to the repayment terms outlined in your loan agreement. Failing to make timely payments may have a negative impact on your credit score, which could affect your ability to obtain credit in the future. We encourage you to make repayments on or before the due date to avoid any complications, such as additional fees or adverse effects on your credit report.

Repayment Date:

The repayment of your loan is due on your next payday, or as agreed in the loan agreement. We offer flexibility in repayment schedules, but it is essential to ensure that the loan is repaid by the specified date. Failure to do so may result in penalties or additional charges.

Information Handling:

We respect your privacy and are committed to securing your personal information. However, we do use third-party services for various purposes that are essential to the functioning of our business:

Affordability Software: We utilize third-party software to assess your affordability and determine whether the loan is suitable for your financial situation.
Banks: Our banking partners are involved in processing the transactions related to your loan, ensuring that the funds are transferred securely.
Communication Tools: We use social media platforms and email communication to engage with you and provide customer support, as well as to send you important loan updates.

Please note that while we take every measure to protect your data, the privacy policies of these third-party services also apply. We recommend reviewing their privacy practices to understand how they collect and handle your information when you interact with them through our services.

Our Rights:

We reserve the right to approve or reject any loan application based on the information provided and the results of our internal assessment procedures. This decision ensures responsible lending and aims to protect your financial health as well as the sustainability of our business.

Registration with NCR:

Mashele Finance is fully registered with the National Credit Regulator (NCR) under registration number NCRCP19670. Our registration ensures that we comply with the National Credit Act and operate under strict regulatory guidelines, providing a secure and reliable lending service.

Repayment Terms:

You can choose from a 1, 2, or 3-month repayment term, depending on your financial needs and ability to repay. A shorter repayment term helps you save on interest costs, as the loan will be paid off quicker. However, we encourage you to select a repayment option that aligns with your budget and ensures that you can meet your obligations comfortably.

Website Security:

Our website employs third-party services to protect it from unauthorized or suspicious activities, including bots and fraud attempts. As part of these security measures, the privacy policies of these third-party providers apply to your data while you interact with our website. We take every precaution to ensure that your personal information is protected during your visit and use of our online services.

Responsible Borrowing

At Mashele Finance, we advocate for responsible borrowing. We want to help you make informed decisions about borrowing, and ensure that you only take out loans when absolutely necessary and when you can afford to repay them. We urge you to ask yourself the following questions before applying for a loan:

Do I really need the loan, or can I meet my needs through other means?
Am I able to repay the loan on time without affecting my day-to-day living?
Is this loan for an essential expense, or will it be used for non-urgent needs or leisure?

When you borrow, we recommend borrowing only the amount you can comfortably repay within the agreed time. Borrowing more than you can afford may lead to financial strain, missed payments, and a negative impact on your credit score.

Declaration: By submitting your loan application through any of our communication channels (website, WhatsApp, email), you acknowledge that you have read, understood, and agreed to our Privacy Policy and Terms of Service. You also declare that the loan will be used for a responsible and necessary purpose and not for discretionary spending or leisure. By applying, you are confirming that you can afford to repay the loan and that you will do so according to the agreed terms.

We are here to support you through the process and ensure that your financial needs are met in a responsible and sustainable manner. If you have any questions about our terms or need assistance, feel free to reach out to our support team. Email info@mashelefinance.co.za for any further enquiries

Mashele Finance reserve the right to update this Privacy policy and Terms of Service without prior notification. We encourage you to have a look at this page before each loan application.

Last Updated: 28 November 2024