Terms of Service

1. Who we are

MegaFin ("we", "us", "our") is a loan brokerage operating in South Africa. We are not a registered credit provider. We submit loan applications on your behalf to a panel of lenders that are registered with the National Credit Regulator (NCR), and help you compare the offers you receive.

2. Using this website

By submitting an application through this website, you confirm that the information you provide is true, accurate and complete. Providing false information may result in your application being declined, and may affect any agreement you enter into with a lender.

3. How the application process works

Once you submit your details, we forward your application to lenders on our panel who may be able to assist based on your profile. Each lender independently assesses affordability, credit history and any supporting documents you provide, in line with the National Credit Act. Approval, loan amount, term and interest rate are decided solely by the lender, not by MegaFin.

4. Fees

MegaFin does not charge you a fee to submit an application. Any service fees, interest, or other charges are set by the lender that approves your loan and are disclosed to you before you accept an offer. Maximum APR is capped at 32% per annum as regulated by the NCR.

5. Repayments

Repayments are collected by debit order from your nominated bank account. If a debit order fails due to insufficient funds or a change of bank account without notice, your lender may charge additional fees and may attempt to contact you to resolve the matter. Unresolved non-payment can be referred to internal or external collections and may affect your credit record.

6. Your information

We collect personal and financial information solely to process your loan application and to match you with suitable lenders on our panel. Your information is handled in accordance with our Privacy Policy and the Protection of Personal Information Act (POPIA). We do not sell your information to third parties outside of our lender panel.

7. No guarantee of approval

Submitting an application does not guarantee that you will be approved for a loan, or that you will be offered the amount or term you applied for. Lenders make their own credit decisions based on affordability and risk criteria.

8. Limitation of liability

MegaFin acts as an intermediary between you and our panel of lenders. We are not liable for the lending decisions, terms, or conduct of any lender on our panel, though we will assist in raising and escalating any complaint you have.

9. Changes to these terms

We may update these Terms of Service from time to time. Continued use of this website after changes are posted constitutes acceptance of the updated terms.

10. Contact

Questions about these terms can be sent to malwaleodirile@gmail.com or via our Contact Us page.