Loan Application and Approval Policy

At Pienaar Group, we are committed to responsible lending practices that ensure fairness, transparency, and accessibility. This policy outlines our loan eligibility requirements, submission process, approval criteria, and timelines.

1. Eligibility Criteria

Applicants must meet the following minimum requirements:

• Be 18 years or older and legally capable of entering into a financial agreement.

• Provide a valid South African ID or passport (for foreign nationals).

• Have a verifiable source of income, such as employment, self-employment, or business operations.

• Maintain a minimum credit score of 600 (subject to review).

• Provide proof of residential address not older than 3 months.
  
  

2. Required Documentation

To process a loan application, the following documents are required:

• South African ID or valid passport

• Proof of income (latest 3 payslips or bank statements)

• Proof of address (utility bill or official correspondence)

• Employment verification (if applicable)

• Company registration (for business loans)
  
  

3. Application and Review Process

• Loan applications are submitted through our secure online platform or at an approved branch.

• Each application is reviewed within 24–48 business hours by our underwriting team.

• A credit assessment is conducted using both internal scoring models and registered credit bureaus.

• Applicants may be contacted for clarification or additional documentation.
  
  

4. Approval and Disbursement

• Once approved, applicants receive a Loan Offer Letter outlining loan amount, rate, and repayment terms.

• Funds are disbursed to the borrower’s nominated bank account within 1–3 business days after acceptance and signature of the loan agreement.

• Unsuccessful applicants are notified with a brief explanation and may reapply after 90 days.
  
  

5. Loan Limits and Terms

• Minimum loan: R10,000

• Maximum loan: R10,000,000 (subject to income verification and collateral, if applicable)

• Interest rate: Fixed or variable, ranging between 12%–24% per annum, based on risk profile.

• Repayment term: Between 3 and 60 months, depending on loan type and amount.

Interest Rate and Fee Policy

Our goal is to maintain full transparency in our pricing model so clients understand the total cost of borrowing before entering into an agreement.

1. Interest Rate Determination

Interest rates are calculated based on:

• The borrower’s creditworthiness and repayment history

• The loan type (personal, business, or asset finance)

• Current market conditions and prime lending rate

• Loan term and collateral (if applicable)

Example: A borrower with a strong credit record may receive a rate close to Prime + 3%, while higher-risk borrowers may be charged Prime + 8%.

2. Additional Fees

The following fees may apply:

• Origination Fee: 2% of the total approved loan amount

• Monthly Service Fee: R69 (capped as per NCR guidelines)

• Late Payment Fee: R150 per missed instalment

• Prepayment Penalty: None (loans may be settled early without penalty)
  
  

3. Transparency

All fees and interest calculations are disclosed before contract signing. A full repayment schedule is issued upon loan approval, showing total principal, interest, and monthly instalments.

Privacy and Data Security Policy

Pienaar Group Executive values your privacy and protects all client data in accordance with the Protection of Personal Information Act (POPIA) and international standards such as GDPR.

1. Data Collection

We collect personal and financial information necessary to:

• Verify identity and eligibility for financial products

• Process applications and manage accounts

• Comply with legal and regulatory requirements
  
  

2. Data Storage and Protection

• All client data is encrypted during transmission and at rest.

• Our servers are secured by firewalls, multi-factor authentication, and regular security audits.

• Access to customer information is restricted to authorised personnel only.
  
  

3. Data Usage and Sharing

• Data is used solely for the purpose of providing and maintaining financial services.

• Information may be shared with regulatory authorities, payment processors, or auditors when legally required.

• We never sell or share customer data with third parties for marketing without consent.
  
  

4. Customer Rights

Clients have the right to:

• Request access to their data

• Correct inaccuracies

• Request deletion of information not required by law or regulation

Repayment and Default Policy

We are committed to promoting responsible borrowing and timely repayment. This policy ensures clients fully understand their obligations and available support in case of financial difficulty.

1. Repayment Options

Borrowers may repay loans through:

• Automatic debit order from their bank account

• Manual EFT payments using the designated reference number

• Online portal payment (where enabled)
  
  

2. Payment Schedule

• Repayments are due weekly on the agreed date.

• Clients may request a payment rescheduling in cases of temporary hardship, subject to review.
  
  

3. Late or Missed Payments

• Late payments attract a R500 penalty per day plus any accrued interest.

• Repeated defaults are reported to credit bureaus and may affect credit scores.

• Continuous failure to repay may lead to loan termination, collection proceedings, or legal action.
  
  

4. Default and Recovery Process

In the event of default:

1. The client receives written notice within 7 days of non-payment.

2. Our recovery department contacts the client to arrange repayment.

3. If unresolved within 30 days, the matter may be escalated to a registered debt collector or legal representative.

4. The account may be closed and security or collateral enforced (if applicable).

Customer Service and Complaint Resolution Policy

At Pienaar Group, we are committed to maintaining the highest standards of customer care, fairness, and transparency.

1. Customer Support

Clients can contact our support team via:

• 📧 Email: loans@pienaargroupexecutive.com

• ☎️ Phone: +27 (0)10 123 4567

• 💬 WhatsApp or SMS (where available)

• 🏢 In person: at our registered office locations
  
  

2. Assistance

Our support staff are available Monday–Friday, 8:00 AM–5:00 PM (SAST) to assist with:

• Account and loan queries

• Payment confirmation

• Technical support or portal access issues
  
  

3. Complaint Resolution Process

1. Acknowledge: All complaints are acknowledged within 24 hours.

2. Review: An internal review is completed within 5 working days.

3. Resolution: Clients receive a written outcome and proposed resolution.

4. Escalation: If unsatisfied, clients may escalate to the Compliance Department or relevant Ombudsman.
   
   

4. Commitment to Service Excellence

We strive to resolve all customer concerns promptly and courteously, maintaining a fair and professional relationship with every client.