Frequently Asked Questions

General Finance is a registered credit provider (NCRCP 10598) offering various loan products including personal loans, business loans, home loans, vehicle finance, debt consolidation, and payday loans to South African residents.

Yes, we are fully registered with the National Credit Regulator (NCRCP 10598) and operate in compliance with the National Credit Act.

Our customer service team is available Monday to Friday from 8:00 AM to 5:00 PM, and Saturdays from 9:00 AM to 1:00 PM. You can apply for loans online 24/7 through our website.

Our registered office is at 38A Ingelsol Street, Lynnwood Glen, Pretoria, 0001.

You can contact us via phone at 087 510 1776, call us on 076 305 43654, or WhatsApp us on 076 880 17451. You can also email us through the contact form on our website.

No, we do not charge any application fees. All costs are transparently disclosed before you accept a loan offer.

Yes, we use bank-level encryption and security measures to protect your personal and financial information. We comply with all POPI Act requirements.

Yes, we consider applications from people with various credit histories. While credit history is a factor, we also consider your current financial situation and ability to repay.

Loan amounts vary by product. Personal loans range from R5,000 to R300,000, while home loans can go up to R5 million. Specific limits depend on the loan type and your financial profile.

For most personal loans, we provide decisions within 24 hours. Home loans and business loans may take 2-5 business days depending on documentation requirements.

You can apply online through our website, via WhatsApp, or by visiting our office. The online application takes about 10-15 minutes to complete.

Typically, you'll need your SA ID, proof of income (latest payslips or bank statements), and proof of residence. Specific requirements may vary by loan type.

Yes, we have a secure online application system available 24/7 at www.generalloanservices.co.za/apply/

Yes, you must be at least 18 years old to apply for any loan product.

Yes, we accept temporary IDs as long as they are valid and accompanied by other supporting documents.

Your application is valid for 30 days. If not finalized within this period, you may need to provide updated documents.

No, you can only have one active application at a time. We assess your overall affordability before approving any loan.

We'll review your application, perform credit checks, and contact you within 24 hours with a decision or request for additional information.

Yes, you can cancel your application at any time before signing the loan agreement by contacting our customer service team.

We will contact you via phone, email, or SMS with the outcome of your application. You can also check your application status by logging into your account on our website.

You must be a South African citizen or permanent resident, at least 18 years old, have a regular income, and have a valid bank account.

Yes, you need an active South African bank account in your name for us to disburse funds and set up debit orders.

We accept salary, pension, commission, rental income, and business income. We require proof of consistent income for at least 3 months.

Minimum income requirements vary by loan product, but generally, you need at least R5,000 monthly income for personal loans.

Yes, self-employed individuals can apply. We require 6 months of bank statements and financial statements for business loans.

Yes, pensioners can apply for loans as long as they meet the income and affordability requirements.

Generally, we cannot approve loans for individuals under debt review unless they have a clearance certificate.

You need a verifiable source of income to qualify for a loan. If you're unemployed but have alternative income (pension, investments, etc.), you may still qualify.

For personal loans, the maximum age at loan maturity is 75 years. For home loans, it's typically 80 years.

Permanent residents with valid permits can apply. Temporary residents may qualify for certain loan products with additional documentation.

Personal loans can be used for various purposes including debt consolidation, home improvements, education, medical expenses, weddings, travel, or any personal need.

Our personal loan interest rates start from 5% and vary based on your credit profile, loan amount, and repayment term.

Personal loan terms range from 12 to 60 months, depending on the loan amount and your affordability.

Yes, you can pay off your personal loan early. We don't charge early settlement fees, and you may save on interest.

Repayments are made via debit order on a date that suits you, typically aligned with your salary payment date.

No, you cannot increase an existing loan. You would need to apply for a new loan once you've repaid a significant portion of your current loan.

If you miss a payment, we'll contact you to make alternative arrangements. Late payments may incur fees and affect your credit score.

Yes, debt consolidation is one of the most common uses for personal loans. It can help simplify your finances and potentially reduce your interest costs.

No, personal loans are unsecured, meaning no collateral is required.

Once approved and all documents are signed, funds are typically transferred within 24-48 hours.

We offer startup financing, expansion loans, equipment finance, working capital loans, and commercial property finance.

Typically required: business registration documents, 6 months bank statements, financial statements, business plan, and directors' personal documents.

For most business loans, we require at least 12 months of trading history. Startups may qualify with a strong business plan and collateral.

Business loans can go up to R5 million, depending on your business financials, collateral, and purpose of the loan.

Yes, we offer startup financing for new businesses with a comprehensive business plan, relevant experience, and sometimes collateral.

Business loan rates vary based on risk, term, and collateral, typically starting from prime + 2%.

Business loan approvals typically take 5-10 business days, depending on the complexity and documentation required.

Collateral requirements depend on the loan amount and business risk profile. Smaller business loans may be unsecured.

Yes, working capital loans are specifically designed to cover day-to-day operational expenses like payroll, inventory, and utilities.

We work with businesses experiencing financial difficulties to find solutions, which may include restructuring the loan. In severe cases, collateral may be claimed.

Home loans can go up to R5 million, depending on your income, credit profile, and the property value.

Typically 10-20% of the property price, though this can vary based on the property type and your financial profile.

Home loan rates are typically linked to the prime rate, currently starting from prime - 0.5% for qualifying applicants.

Home loan approvals typically take 5-10 business days once all documents are submitted.

Yes, we finance second properties and investment properties, though different criteria and interest rates may apply.

Costs may include initiation fees, valuation fees, bond registration costs, and transfer duties. We provide a full cost breakdown before you proceed.

Yes, we offer bond transfers which may allow you to benefit from better interest rates and terms.

Home loan terms can be up to 30 years, though 20 years is most common.

Yes, you can make additional payments which will reduce your loan balance and potentially shorten the loan term.

We contact you to arrange payment. Consistent missed payments could lead to legal action and potentially losing your property.

Yes, we finance both new and used vehicles. Used vehicles typically have different interest rates and terms.

We finance vehicles up to 10 years old, depending on the vehicle condition and value.

Typically 10-20% for used vehicles and 0-10% for new vehicles, depending on your credit profile.

Yes, we finance vehicles from both dealers and private sellers, though different documentation is required.

Vehicle finance terms range from 12 to 72 months, depending on the vehicle age and type.

Yes, we can help arrange comprehensive insurance which can be included in your monthly payments.

You would need to settle the outstanding loan balance from the sale proceeds. If the sale price is less than the balance, you'll need to pay the difference.

Yes, we finance both personal and commercial vehicles with different terms and conditions.

Debt consolidation combines multiple debts into a single loan with one monthly payment, often at a lower interest rate.

You can consolidate credit cards, store accounts, personal loans, payday loans, and other unsecured debts.

Savings depend on your current interest rates. Many customers save 30-50% on their monthly payments and thousands in total interest.

Initially, there may be a small dip, but consistent payments on your consolidation loan can improve your credit score over time.

We pay off your existing creditors directly, and you make one monthly payment to us at a potentially lower interest rate.

Yes, we consider applications from people with various credit histories, focusing on your current ability to repay.

We typically consolidate debts of R15,000 or more, but we can assess smaller amounts on a case-by-case basis.

No, debt consolidation typically only covers unsecured debts. Secured debts like home loans or vehicle finance cannot be consolidated.

We pay off and close your old accounts. You should confirm closure with your previous creditors.

No, you cannot add new debts to an existing consolidation loan. You would need to apply for a new loan.

A payday loan is a short-term loan designed to cover expenses until your next payday, typically repaid within 7-30 days.

Payday loans range from R500 to R8,000, depending on your income and affordability assessment.

Approval can be within hours, and funds are typically transferred the same day for applications submitted before 2 PM.

Payday loans have higher interest rates than traditional loans due to their short-term nature and higher risk. Rates are disclosed upfront.

Extensions may be possible but incur additional fees. We encourage borrowers to only take what they can repay on their next payday.

Contact us immediately to discuss options. Late payments incur fees and may affect your credit score and future borrowing ability.

No, you can only have one payday loan at a time. You must repay your current loan before applying for another.

Yes, payday loans are regulated by the National Credit Act and the National Credit Regulator, with caps on fees and interest.

Payday loans are smaller, short-term loans repaid on your next payday, while personal loans are larger with longer repayment terms (months to years).

Yes, you can apply online, via WhatsApp, or by visiting our office. Online applications are processed quickly.

Yes, you can request to change your repayment date once per year, subject to approval.

The National Credit Act is South African legislation that regulates credit provision and protects consumers from reckless lending.

Generally no, unless you have written consent from your administrator.

You can check your balance through our customer portal, by contacting our call center, or via WhatsApp.

An affordability assessment evaluates your income, expenses, and existing debt to determine if you can afford loan repayments.

Yes, you can request statements through our customer portal or by contacting our customer service team.

Credit life insurance covers your loan repayments in case of death, disability, or retrenchment. It's optional but recommended.

You can submit complaints through our website, via email, or by calling our customer service line. We aim to resolve complaints within 5 business days.

Yes, we offer startup business loans for qualifying entrepreneurs with a solid business plan and relevant experience.

Maintain a good credit history, provide accurate information, ensure your debt-to-income ratio is reasonable, and have all required documents ready.