Terms & Conditions
Eligibility
To qualify for our services:
Students: You must be a registered student at a recognized educational institution funded by NSFAS.
Employed Persons: You must provide proof of employment and meet the minimum income criteria as determined by Uniloans Equity.
Application process
All applicants must complete the loan application form and provide:
- Proof of identification (e.g., ID or passport).
- Proof of enrollment (for students).
- Latest pay slip or employment letter (for employed persons).
- Any additional documents requested during the process.
Loan amount
The maximum loan amount is determined based on your eligibility and creditworthiness:
Students: Loans will cover tuition, materials, and other education-related expenses.
Employed Persons: Loans will be calculated based on your income and repayment capacity.
Interest rate
The applicable interest rate is determined by Uniloans Equity and varies depending on:
- Loan amount requested.
- Repayment duration.
- Applicant’s credit profile.
The interest rate will be communicated in the loan approval document.
Repayment Terms
Loan repayments must be made as per the agreed schedule:
Students: Deferred repayment plans may be available until after graduation.
Employed Persons: Monthly installments will be automatically deducted from the bank account provided during application.
Few Tips & Tricks
Credit Monitoring
Enable notifications for any significant changes to credit reports, such as new accounts opened or credit inquiries. This early warning system helps detect potential identity theft.
Debt Management
If you have multiple debts, consider consolidating them into one loan with a lower interest rate.
Budgeting
Create a budget and stick to it. This will help you manage your expenses and ensure that you have enough money to pay your debts on time.
Savings
Make a habit of saving money each month, even if it's just a small amount.
