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Frequently Asked Questions

What does Umhlatuze Finance do?

Umhlatuze Finance is very easy to use and unique.  We are a short term finance company which concentrates on short term loans to the consumer.   We are not a bank where you have to endure long queues, application forms and have to wait days for your money.  The complete process is online is 7 easy steps and when approved you will get the money in your account within hours.

 

How does it work?

Our service is online from start to finish. Use the sliders on the home page to decide exactly how much cash you want to borrow and how many days you need it for.  You can choose between R500 - R3000. Please use your next pay day as the repayment date.

We'll show you the full cost upfront and, once you're happy, click apply. We'll then ask you for some personal details in 7 easy steps.  Please be truthful in the 7 steps that you have to fill in because we need the info to do our fraud and credit checks on your details.  We use the latest technology so please be truthful.
If approved, we send the cash to your bank immediately. That makes us the fastest lender in the South Africa.

On your chosen date we collect a single payment from your bank account, so you just need to ensure the required funds are available.  
It’s that easy!

 

How much money can I borrow?

You can borrow anything between R500-R3000.  We believe in flexibility of the money and that’s the reason you can apply for a 1-6 months loan.  We do not believe in only offering 1 month loans. We do our normal credit and fraud checks before granting any loan.  We also do an affordability assessment to assess you financial ability to repay the loan.

 

What are the requirements to get a loan?

  • You have to be over 18 years and less than 65 years old
  • You have to be a South African resident.
  • You have to be employed in South Africa
  • You have to have an active South African bank account.
  • You have to have your own email address
  • You have to have your own cell phone.

What makes Umhlatuze Finance different from other financial institutions?

We are fast and reliable.  We have flexible loan amounts and repay periods.
We also offer a Credit Protection plan that is automatically included in your loan installment.

 

Does Umhlatuze Finance do a credit check?

Yes we do.  The reason we do check is that we need to know who we actually dealing with
And that you can afford to repay the loan.

 

Can I apply if I am on any South African Credit Bureau?

Yes you can.   We take in consideration all your info.  That’s why we asking for your honesty to make an informed decision.  Every person is different and as we believe in flexibility we evaluate each application on merit.

 

What is Debt Review or Administration?

We will under no circumstances grant you a loan if you on Debt Review or Administration.  If you in the process of Debt Review or Administration please be honest with us because there will be delays in some cases.

If we grant you a loan and you in the process as explained above we might consider opening a case of fraud with the South African Police Service.

 

Do I have to be permanently employed in order to apply for a Loan?

Yes, you have to be permanently employed for at least 6 months with the same employer.

 

What do I do if my banking details or Employment details have changed?

If your banking details has changed within the period you repaying your loan, you have to inform Umhlatuze Finance immediately.  If your banking details have changed in between your first loan and second, please update it in your application process.  Please remember that you can change any information about you on “Client Zone” on the Home page.  All you do is click on the link, insert your ID number and password and update the details.

 

Which bank do I need to bank with to apply?

You need to bank with the following banks:

  • Standard Bank
  • Nedbank
  • ABSA
  • FNB
  • Capitec

Why do I need a bank account?

You need a bank account because we will load a debit order on your bank account.
We will debit your account with a Non-Authenticated Debit Order (NAEDO) on the agreed amount and on the date according to the agreement.

 

What is our Credit Protection plan about?

Our Credit Protection Plan is automatically added into you repay amount.  It covers you on Retrenchment, Disability, and Death.

 

How long does it take after I have applied for the loan before I get the cash?

If we receive your loan before 12:00 am and the loan is approved, you will have your money by close of business the same day.  If you apply for a loan before 17:00 pm and it is approved you will receive your money by 12:00am the next day.

On public holidays and weekend your money will be paid out to you early the next working day.

 

Is Umhlatuze Finance a member of the National Credit Regulator?

Umhlatuze Finance is a registered Credit Provider.  Registration number NCRCP6390

 

How do I repay my Loan Amount?

Your loan amount will be deducted from your bank account on the agreed date. The agreed amount will be deducted via a Non Authenticated Early Debit Order (NAEDO).

 

What is Account Holder Verification (AHV)?

This is a process to verify that the banking details match your personal details that you have provided us.  If we cannot verify your bank account and personal details we cannot process your loan.

 

Who do I contact if I have a query?

You can contact us direct on our contact details on the website.  We will get back to you as soon as possible with a response.

 

If I have been declined, how long do I have to wait before I can apply again?

You can always re-apply after 1 month.  In some cases we will offer you a smaller loan amount which is more affordable.

 

How does Public Holidays and weekend affect my loan process?

Once you have applied on a Public Holiday or on a weekend we will process your application latest on the next working day.  

 

Will I be able to apply for a loan on behalf of someone else?

  1. We can only process a loan for you the consumer and you cannot apply for a loan on behalf of someone else.

What do I do if I have a complaint?

Please contact us direct on our contact info supplied on our website.

 

Why does Umhlatuze Finance do background checks?

We have to do our checks to see who we actually dealing with.  Although you have given us the info we need we just do our checks on our side to make sure everything is in order.

 

Who is the NCR?

The National Credit Regulator (NCR) was established to regulate the South African Credit Market.

 

What is responsible lending?

Responsible lending is that we as Umhlatuze Finance comply with all the requirements of the National Credit Act. Interest and Fees are calculated upfront and the Website and process are easy to understand.  We do affordability calculations and we give the consumer feedback about the process.

 

What do I do if I need an extension on my Loan?

We are all human and unexpected expenses and circumstances do often come up and things do not always work out as planned.  Please contact us direct on our contact details and we will gladly assist were we can.

uF-ico 1st Floor, Central Park Complex, Corner Rex Henderson and Frankbull road, Empangeni, 3880.
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