Make your dreams a reality with the right Personal Loan

The loans we offer range from R 1,000 – R 120,000, and our payment terms for loans range from one month to 84 months. Interest rates are based on each individual application and comply with the National Credit Act and National Credit Regulations.

We fully support the National Credit Act, and it is our aim to meet your loan needs in a responsible manner. The only way costs will mount beyond our initial calculations is if you don’t keep your promise.

In other words:

• If you ask our service providers to change your repayment date.
• Or don’t ensure sufficient funds are available for automatic collection.

If there is an early morning collection attempt and the payment is declined by your bank, they will contact you during the day to try and resolve the situation.

Our service providers will then make further attempts to collect the money from your account, and their professional collections team will also keep trying to contact you to discuss the situation.

If your circumstances have changed significantly, they will do their best to offer a solution and come to an arrangement that helps you get back on track.

They will try their utmost to keep penalty fees and charges to a minimum, but interest and service fees will continue to mount on your balance for up to 90 days if they can’t reach a fair agreement in the meantime.

If you don’t work with them and they can’t recover the money over a reasonable period, your account may be passed to an external collections partner.

Continued failure to repay a loan will also mean credit bureaus will record the outstanding debt. Records remain on file for a number of years after they are closed, whether settled by you or defaulted. They will do their best to offer a solution and come to an arrangement that helps you get back on track.

They will try their utmost to keep penalty fees and charges to a minimum, but interest and service fees will continue to mount on your balance for up to 90 days if they can’t reach a fair agreement in the meantime. If you don’t work with them and they can’t recover the money over a reasonable period, your account may be passed to an external collections partner.

Continued failure to repay a loan will also mean credit bureaus will record the outstanding debt. Records remain on file for a number of years after they are closed, whether settled by you or defaulted.

 

Financial Wealth Assessment

This is an assessment that forms the basis of your journey to financial freedom. You will be contacted by a consultant telephonically to explain the options with you. Once the consultant is done, the assessment will be sent to you. You have the option to accept or decline any proposed solution going forward. 

Adverse / Default Removal

We can assist with starting the process of removing adverse listings and judgments on your credit profile.

 

Renewal Policy

We assist clients with more than one active loan as long as their current loan with our providers is up to date. Once you’ve made three payments on your current loan, you can apply for another loan with us. We will assess your eligibility for another loan according to NCR rules, as with the first loan.

The National Credit Act:

• Provides one set of rules for all credit and loan activities.
• Aims to prevent reckless lending and over-indebtedness.
• Establishes new and improved rights for credit consumers.

Personal Loan Terms & Conditions

By applying for a personal loan with EC Online Loans and signing the application form received from this website, I confirm the following:

I authorize your agent, NUPAY, to debit my account on your behalf. The debit order agreement may be canceled by giving thirty days’ written notice, but I understand that any amounts withdrawn while this agreement was in force remain owing.

Free Credit Report

With the EC Online Loans service, you also get your credit report with information on how to repair your credit. We will email you the login details to access the credit report once the fee is paid. Along with that, you’ll receive tools on how to improve your credit rating. A dedicated department will guide you through the process.

We will keep you updated on the entire process of finding a loan that best suits you, with more than one option available to most clients.

Once the application is received, we will email you within 24 hours to confirm your details. Our once-off fee of R249.99 (not payable until we have processed the loan) will be payable at the end of the month.

Debi-Check Confirmation

A Debi-Check will be sent to confirm all your personal details are correct. This will help speed up the process and ensure the money gets to the correct account.

No Transaction Policy

No transaction will go off your account until we have processed your loan, and you only start paying at the end of the month.

We Also Assist with the Following:

• Medical Aid Quotes (from more than one company)
• Insurance Quotes

If a loan is declined, we can forward your details for Debt-Restructuring to improve your Credit Profile, enabling you to apply for Home Loans, Car Finance, etc., in the future (this is not Debt Review or Counselling). Please contact us about this offer.

For more information on Home Loans & Bonds (Non-Blacklisted), please email details to feedback@econlineloans.co.za.

To use any of the above services, call our Call Centre to request the form or email feedback@econlineloans.co.za. The normal response time is 24 hours.

Please Note:

If the payment day falls on a Saturday, Sunday, or recognized South African public holiday, the payment day will automatically move to the next business day. Additionally, if there are insufficient funds in your nominated account, we are entitled to track your account for 7 days and re-present the instruction for payment once sufficient funds are available.

Collections

Collections result from late payments and can be handled by a third-party collection agency or an internal collection department. Regardless of how they appear on your credit report, late payments can negatively affect your credit score.

Settlements

Settlements are agreements between you and a creditor to pay less than the total amount owed. While the creditor may consider the matter resolved once the settlement amount is paid, they will report that you settled for less than the original obligation. This can harm your credit score as much as any serious delinquency.