Need a payday advance? At Mpowa Finance, you can get up to 2500 of credit that can be paid into your account today.
Sometimes, we run out of cash or sometimes, your need to pay bills like a school fee or doctor’s fee instantly and then there is no time to go to a bank to apply for credit. If you need cash to buy groceries or to fix your car before month end, Mpowa Finpayday-advanceance can help you.
Mpowa Finance charge in terms of chapter 5 of the Credit Act no.34 of 2005, a 15% initiation fee of the loan amount up to R1000 and 10% thereafter and VAT. A service fee of R50 per month including VAT is charges plus an interest of 5% per month/ 0.17% per day. 60% per annum. These fees are important because you will have to include it into your repayment calculations.
It is easy to obtain a payday advance, but this credit must be paid back as quickly as possible. If you fail to pay back the loan amount, you will:
- Be charged with an extra 5% interest on all outstanding balances.
- An additional service fee of R57 will be added to all accounts that are 30 day behind payment.
- Be contacted regarding payments if you have failed to repay loan to arrange the repayment term, but thereafter legal procedures will follow if you fail to adhere to the arrangement.
- Obtain a negative credit profile that might have an influence on future credit applications.
Mpowa Finance only does 30 days loans and if you apply today, you will have your money by close of business if you have met all the credit application criteria. To repay your loan, a debit order will be placed on your account, making the repayment process so much easier for you. Mpowa Finance can help you with a payday advance anytime, anywhere if you live inside the beautiful Republic of South Africa.