Terms & Conditions

 

Terms and Conditions

Terms and Conditions

Welcome to Northway Finance. These Terms and Conditions govern your access to and use of our website and loan services. By using our site or applying for a loan, you agree to these terms. Please read them carefully.

1. Eligibility

To apply for a loan with Northway Finance, you must:

  • Be 18 years or older

  • Be a South African citizen or permanent resident

  • Have a valid South African ID

  • Provide proof of income and a valid bank account

2. Loan Application and Approval

  • All loan applications are subject to credit and affordability assessments in compliance with the National Credit Act (NCA).

  • Submission of an application does not guarantee approval.

  • We reserve the right to decline applications without obligation to provide reasons.

3. Documentation Requirements

Applicants may be required to submit the following:

  • Valid South African ID

  • Latest 3 months’ bank statements

  • Recent payslip or proof of income

  • Proof of residence not older than 3 months

4. Interest Rates and Fees

  • Interest rates and fees are calculated in accordance with the NCA and other applicable legislation.

  • A full breakdown of costs will be provided in your loan agreement.

5. Loan Disbursement

  • Approved loans are disbursed to the applicant's verified bank account, typically within 5 to 24 hours.

  • Disbursement timelines may vary depending on banking partners and public holidays.

6. Repayment Terms

  • Repayment terms range from 12 to 180 months, depending on loan type and approval conditions.

  • Repayments are typically made via debit order.

  • Early settlement is permitted and may reduce interest payable.

7. Late or Missed Payments

  • Failure to make payments on time may result in additional interest, penalties, or legal action.

  • Defaulting on your loan may affect your credit record and future borrowing ability.

8. Privacy and Data Protection

  • We respect your privacy and are committed to protecting your personal information.

  • All data is handled in accordance with POPIA (Protection of Personal Information Act).

  • We do not sell or share your data without consent.

9. Use of Website

  • You agree not to misuse the website or use it for fraudulent purposes.

  • All content is the intellectual property of Northway Finance and may not be reproduced without permission.

10. Limitation of Liability

Northway Finance is not liable for any losses or damages arising from:

  • Use of or reliance on our website or services

  • Delays in processing applications due to third-party systems

  • Unauthorized access to your account caused by your own actions or negligence

11. Amendments

We reserve the right to update these Terms and Conditions at any time. Changes will be effective once posted on our website. We encourage users to review them regularly.

12. Governing Law

These terms are governed by the laws of the Republic of South Africa. Any disputes will be handled in accordance with local jurisdiction.

13. Contact Us

If you have any questions about these Terms and Conditions, please contact us at:
📧 Email: info@northwayfinance.co.za
🌐 Website: www.northwayfinance.co.za