Terms & Conditions

1. Agreement to Terms

By using R Loans services, you agree to these Terms and Conditions. If you do not agree, please do not use our services. These terms apply to all borrowers and users of our platform.

2. Eligibility

To apply for a loan, you must:

• Be a registered South African student
• Be residing in a university residence or approved accommodation
• Be at least 18 years of age
• Have a valid South African bank account
• Have a valid South African cellphone number

3. Loan Terms

All loans are subject to the following terms:

• Loan amounts: R100 to R500
• Interest rate: 30% for 20 days, 40% for 30 days
• Maximum term: 30 days
• Loans are subject to approval by R Loans admin
• First-time borrowers may be limited to lower amounts

4. Repayment

Borrowers agree to repay the full loan amount plus interest by the due date. Failure to repay on time may result in additional interest charges and reporting to credit bureaus. Extensions may be granted at the discretion of R Loans admin.

5. Responsible Lending

R Loans is committed to responsible lending practices. We conduct affordability assessments and will not lend to borrowers who cannot reasonably repay. We encourage borrowers to only borrow what they need and can afford to repay.

6. Changes to Terms

R Loans reserves the right to update these Terms and Conditions at any time. Changes will be effective immediately upon posting to our website. Continued use of our services constitutes acceptance of the updated terms.

7. Governing Law

These terms are governed by the laws of the Republic of South Africa, including the National Credit Act and the Protection of Personal Information Act (POPIA).