Credit / Loan Terms
These general terms apply to short-term credit agreements offered by Duck Finance Group.
Regulatory framework
All credit agreements are governed by the National Credit Act, 34 of 2005 (NCA) and its regulations. Interest rates, initiation fees and service fees are charged within the caps prescribed by the NCA.
Costs and fees
- Interest — calculated on the outstanding balance.
- Initiation fee — once-off, capped by NCA regulations.
- Monthly service fee — capped by NCA regulations.
- All fees include VAT where applicable.
Repayment
Repayments are collected by debit order on your agreed pay dates from your verified South African bank account.
Early settlement
You may settle your loan at any time. Early settlement is calculated as the outstanding principal plus accrued interest and fees to the settlement date. No early-settlement penalty is charged for small credit agreements.
Default
If you fail to pay, we may report the default to the credit bureaux and take further lawful steps to recover the debt. Contact us early if you cannot pay.
Cooling-off
Where the NCA provides a cooling-off period, you may terminate the agreement within that period by returning any advance already made together with prescribed charges.