Terms and Conditions

Welcome to MaNduli Legacy!

These Terms and Conditions govern the lending of money to individuals by MaNduli legacy By applying for or accepting a loan, you agree to be bound by these Terms.

1. Eligibility

• Applicants must be at least 18 years old.

• Must provide valid identification and proof of income.

• Loans are subject to credit checks and approval at the Company’s sole discretion.

2. Loan Agreement

• Loan terms (amount, interest rate, repayment schedule, fees) will be set out in a written Loan Agreement signed by both parties.

• The Loan Agreement forms part of these Terms and Conditions.

• Funds will only be disbursed once all required documentation is completed.

3. Interest and Fees

• Interest will be charged at the rate specified in the Loan Agreement.

• Additional fees (e.g., administration, late payment, or early settlement fees) may apply as disclosed in the Loan Agreement.

• Interest is calculated on the outstanding balance until full repayment.

4. Repayment

• Borrowers must repay according to the agreed schedule.

• Payments must be made via approved methods (e.g., EFT, debit order).

• Late or missed payments may incur penalties and affect credit records.

• The Company reserves the right to demand full repayment if the borrower defaults.

5. Default

• Default occurs if the borrower fails to make payments, provides false information, or breaches the Loan Agreement.

• In case of default, the Company may:

  • Charge late fees and interest.

  • Report the default to credit bureaus.

  • Initiate legal proceedings to recover the debt.

  • Reported to company Attorney(lawyer).

6. Borrower Responsibilities

• Provide accurate and truthful information during application.

• Notify the Company of any changes in contact details or financial circumstances.

• Use loan funds for lawful purposes only.

7. Company Rights

• The Company reserves the right to approve or decline loan applications.

• Terms may be amended at any time, with notice provided to borrowers.

• The Company may assign or transfer its rights under the Loan Agreement to third parties.

8. Privacy and Data Protection

• Personal information will be collected, stored, and processed in accordance with applicable data protection laws.

• Information may be shared with credit bureaus, regulators, or legal authorities as required.

• Borrowers consent to such use of their data by applying for a loan.

9. Limitation of Liability

• The Company is not liable for indirect, incidental, or consequential damages arising from the loan.

• Liability is limited to the amount of the loan provided.

10. Governing Law

• These Terms and Conditions are governed by the laws of South Africa.

• Any disputes will be resolved in the courts of Gauteng, South Africa.

11. Entire Agreement

• These Terms, together with the Loan Agreement, constitute the entire agreement between the borrower and the Company.

• No verbal agreements or representations shall override these Terms.