Terms & Conditions

1. Acceptance of These Terms

These Terms & Conditions ("Terms") govern your access to and use of the Asante Financial Services website, customer portal, and any related applications (together, the "Website"), operated by Asante Financial Services (Pty) Ltd, a Registered Credit Provider ("Asante", "we", "us", or "our"). By accessing the Website, creating an account, or submitting a loan application, you ("you", "the user", or "the applicant") confirm that you have read, understood, and agree to be bound by these Terms and our Privacy Policy. If you do not agree to these Terms, you must not use the Website or submit an application.

2. Definitions

• "Applicant" means any natural person who submits, or attempts to submit, a credit application through the Website.
• "Credit Agreement" means the separate, signed loan agreement concluded between Asante and an approved Applicant, which sets out the specific principal debt, interest rate, fees, repayment terms, and other agreed conditions of that loan.
• "NCA" means the National Credit Act 34 of 2005, as amended, and its regulations.
• "POPIA" means the Protection of Personal Information Act 4 of 2013.
• "Pre-Agreement Statement and Quotation" means the document required under section 92 of the NCA, setting out the key terms of a proposed Credit Agreement before it is concluded.
• "Portal" means the authenticated customer or admin area of the Website used to manage applications and accounts.

3. About Us & Regulatory Status

Asante Financial Services (Pty) Ltd is a Registered Credit Provider in accordance with the NCA. Our registration permits us to enter into credit agreements as regulated by the NCA. Our registered address is in Durban, KwaZulu-Natal, South Africa. You may verify our registration status directly with the NCR at www.ncr.org.za.

4. Eligibility to Apply

To apply for credit through the Website, you must:

• be at least 18 years of age and have full legal capacity to contract;
• be a South African citizen or permanent resident, or otherwise legally entitled to enter into a credit agreement in South Africa;
• hold a valid South African bank account in your own name;
• provide accurate, current, and complete personal, employment, and financial information; and
• not be under debt review / debt counselling in a manner that would make this application unlawful, unless you disclose this and it is separately assessed and permitted in accordance with the NCA.

Meeting these criteria does not guarantee approval. All applications remain subject to our credit assessment described below.

5. The Application Process

Submitting an application through the Website is an expression of interest in obtaining credit and constitutes an invitation for Asante to consider extending credit to you; it is not, by itself, an offer that we are obliged to accept, and it does not create a Credit Agreement. You may be asked to submit supporting documentation (such as proof of identity, proof of income, proof of residence, and bank statements) to allow us to complete a proper assessment. Incomplete applications or applications with unverifiable information may be delayed, declined, or require resubmission.

6. Credit Assessment & Responsible Lending

In accordance with sections 78 to 82 of the NCA, we are required to conduct an affordability assessment before granting credit, taking into account your income, financial means, and existing financial obligations, in order to prevent over-indebtedness and reckless credit. We may decline an application, reduce the requested loan amount, or offer different terms where our assessment indicates that the originally requested credit would not be affordable or appropriate for you. We reserve the right to request further information, verify information provided (including with your employer, credit bureaus, or bank), and to decline any application at our sole discretion, acting reasonably and in accordance with the NCA.

7. The Credit Agreement Prevails

These Terms govern your general use of the Website. If your application is approved, the specific principal amount, interest rate, initiation fee, monthly service fee, credit insurance (if applicable), repayment period, instalment amounts, and default charges applicable to your loan will be set out in a separate, signed Pre-Agreement Statement and Quotation and Credit Agreement. In the event of any conflict between these Terms and your signed Credit Agreement, the Credit Agreement will prevail in respect of the specific loan it governs.

8. Interest, Fees & Charges

All interest rates, initiation fees, monthly service fees, and any other charges we levy are capped at, and calculated in accordance with, the maximum prescribed rates and fees permitted under the NCA and its regulations, as amended and published by the NCR from time to time. We do not charge any fee, cost, or interest that is not disclosed to you in writing in your Pre-Agreement Statement and Quotation before you sign a Credit Agreement.

Indicative fee types may include an initiation fee (charged once), a monthly service fee, interest calculated on the outstanding principal debt, and, where applicable, default administration charges strictly limited to the maximums prescribed by the NCA. Exact figures applicable to your loan will always be disclosed to you individually before you agree to any Credit Agreement.

9. Right to Rescind (Cooling-Off Period)

In accordance with section 121 of the NCA, you have the right to rescind a small credit agreement without cost or penalty by giving written notice to us within five (5) business days after the date the Credit Agreement was signed, provided you return any money advanced to you, together with any interest accrued to the date of return, calculated in accordance with the Credit Agreement. To exercise this right, contact us using the details in Section 31 below.

10. Pre-Agreement Disclosure

Before you enter into a Credit Agreement with us, we will provide you with a Pre-Agreement Statement and Quotation as required by section 92 of the NCA, setting out the principal debt, interest rate, all fees and charges, the total cost of credit, and the repayment schedule. You are encouraged to read this document carefully, and to ask us any questions, before signing.

11. Repayment Obligations & Early Settlement

You agree to repay your loan in accordance with the repayment schedule set out in your Credit Agreement, using the payment method(s) agreed with us (which may include debit order, EFT, or another method we make available). It is your responsibility to ensure sufficient funds are available on each due date.

In accordance with section 125 of the NCA, you have the right to settle your Credit Agreement early, in whole or in part, at any time, without notice, subject only to payment of the settlement amount calculated in accordance with the NCA (being the unpaid balance of the principal debt, unpaid interest up to the settlement date, and any unpaid permitted default charges), without penalty for early settlement itself.

12. Payment Methods & Debit Order Authority

Where you authorise us (or our payment services provider) to collect repayments via debit order, that authorisation constitutes a mandate under the applicable payment system rules and remains valid until the Credit Agreement is settled in full or the authorisation is validly cancelled in accordance with your Credit Agreement and applicable law. You may request details of, or amend, your payment method by contacting us; changes may take a reasonable processing period to take effect.

13. Default, Breach & Debt Collection

If you fail to make a payment when due, we will follow the procedures required by the NCA before taking further action. In particular, in accordance with sections 129 and 130 of the NCA, before we may approach a court to enforce a Credit Agreement, we will first deliver a notice to you drawing your default to your attention and proposing that you refer the Credit Agreement to a debt counsellor, alternative dispute resolution agent, consumer court, or ombudsman, and providing you an opportunity to remedy the default.

Any default administration charges or collection costs we levy will be limited to the maximums prescribed under the NCA and its regulations. Nothing in these Terms limits your statutory rights under the NCA in respect of default and enforcement procedures.

14. Credit Bureau Reporting

As a registered credit provider, we are required by the NCA to submit information about your application and, if approved, your Credit Agreement and payment performance, to registered credit bureaus and the National Loans Register. This includes both positive information (such as timely repayment) and negative information (such as missed payments or default). This information may affect your credit profile and your ability to obtain credit from other providers in future. Further detail on how we process your information for this purpose is set out in our Privacy Policy.

15. Debt Counselling & Over-Indebtedness

If you believe you are over-indebted, section 86 of the NCA gives you the right to apply to a debt counsellor to be declared over-indebted and to have your debts, including any loan with us, restructured. We will engage with any debt counsellor or process validly initiated in accordance with the NCA in good faith and in accordance with our statutory obligations.

16. Electronic Communications

By using the Website and providing your contact details, you consent, in accordance with the Electronic Communications and Transactions Act 25 of 2002, to receive communications from us relating to your application, account, and Credit Agreement via email, SMS, WhatsApp, and/or other electronic means. Communications sent to the contact details you provide are deemed received unless you notify us that your contact details have changed. You may separately manage your marketing communication preferences as described in our Privacy Policy.

17. Accuracy of Information & Fraud

You warrant that all information you provide to us, whether during registration, application, or thereafter, is true, accurate, current, and complete. Providing false, misleading, or fraudulent information may result in immediate refusal or termination of your application or Credit Agreement, reporting to relevant authorities and credit bureaus, and may constitute a criminal offence under South African law, including the Cybercrimes Act 19 of 2020 and common law fraud.

18. Acceptable Use of the Website

You agree not to:

• attempt to gain unauthorised access to any account, system, or data on the Website;
• interfere with, disrupt, or place an unreasonable load on the Website's infrastructure;
• upload or transmit any virus, malware, or other harmful code;
• use the Website to submit an application on behalf of another person without their knowledge and explicit authorisation;
• scrape, harvest, or otherwise systematically extract data from the Website without our prior written consent; or
• use the Website for any unlawful purpose or in a manner that violates any applicable law or regulation.

19. Intellectual Property

All content on the Website, including text, graphics, logos, the Asante name and branding, software, and their selection and arrangement, is owned by or licensed to Asante Financial Services (Pty) Ltd and is protected by South African and international intellectual property laws. You may not reproduce, distribute, modify, or create derivative works from any part of the Website without our prior written consent, except as necessary to use the Website for its intended purpose.

20. Third-Party Links & Services

The Website may contain links to third-party websites or make use of third-party services (for example, payment processors, messaging providers, or credit bureaus). We do not control and are not responsible for the content, privacy practices, or availability of third-party websites or services. Your use of any third-party website or service is at your own risk and subject to that third party's own terms and privacy policy.

21. Availability & Modification of the Website

We aim to keep the Website available at all times but do not guarantee uninterrupted or error-free access. We may suspend, restrict, or modify the Website, in whole or in part, at any time, including for maintenance, security, or legal reasons, without incurring liability, provided that any change does not unlawfully affect your rights under an existing Credit Agreement.

22. Disclaimers

The Website and its content are provided "as is" and "as available" without warranties of any kind, whether express or implied, to the maximum extent permitted by law, except for any warranties that cannot lawfully be excluded under the Consumer Protection Act 68 of 2008 or any other applicable law. Nothing in this section limits any right or remedy you have under the NCA, the CPA, or any other law that cannot lawfully be excluded or limited.

23. Limitation of Liability

To the maximum extent permitted by law, and without limiting any right you have under the NCA or the CPA, Asante Financial Services (Pty) Ltd, its directors, employees, and agents will not be liable for any indirect, incidental, special, or consequential loss or damage arising from or in connection with your use of, or inability to use, the Website, including loss of profit, revenue, or data, even where we have been advised of the possibility of such loss. Nothing in these Terms excludes or limits liability that cannot lawfully be excluded or limited, including liability for fraud, gross negligence, or wilful misconduct.

24. Indemnification

You agree to indemnify and hold Asante Financial Services (Pty) Ltd harmless from and against any claim, loss, liability, or expense (including reasonable legal costs) arising from your breach of these Terms, your misuse of the Website, or your provision of false or fraudulent information, save to the extent such claim, loss, liability, or expense arises from our own negligence, wilful misconduct, or breach of applicable law.

25. Confidentiality & Data Protection

We process your personal information in accordance with POPIA and our Privacy Policy, which forms part of these Terms by reference. We will treat your personal and financial information as confidential and will only disclose it as described in that Privacy Policy or as required by law.

26. Complaints & Dispute Resolution

If you have a complaint about our services or a Credit Agreement, please first contact us using the details in Section 31 below so that we can attempt to resolve the matter directly. If you remain dissatisfied, you may refer your complaint to:

• The Credit Ombud (for complaints relating to credit agreements, credit bureau listings, or NCA compliance)
  Website: www.creditombud.org.za
• The National Credit Regulator (NCR) (for complaints relating to reckless lending or breaches of the NCA)
  Website: www.ncr.org.za
• The National Consumer Tribunal (for matters that fall within its jurisdiction under the NCA)
  Website: www.thenct.org.za

27. Governing Law & Jurisdiction

These Terms, and any Credit Agreement concluded with us, are governed by the laws of the Republic of South Africa, including the NCA, the CPA, POPIA, and the ECT Act. You consent to the non-exclusive jurisdiction of the South African courts, without prejudice to any right you have to refer a matter to the Credit Ombud, the NCR, the National Consumer Tribunal, or any other statutory body with jurisdiction.

28. Severability

If any provision of these Terms is found by a court or regulator of competent jurisdiction to be unlawful, invalid, or unenforceable, that provision will be severed, and the remaining provisions will continue in full force and effect.

29. Entire Agreement

These Terms, together with our Privacy Policy and, where applicable, your signed Credit Agreement, constitute the entire agreement between you and us regarding your use of the Website and supersede any prior understanding or agreement on that subject, save that nothing here varies the specific terms of a signed Credit Agreement, which prevails in respect of the loan it governs.

30. Amendments to These Terms

We may update these Terms from time to time to reflect changes in our services, legal or regulatory requirements, or operational practices. Where changes are material, we will take reasonable steps to notify registered users (for example, by email or a notice on the Website) before the changes take effect. The "Last updated" date at the top of this page indicates when these Terms were last revised. Any changes will not retroactively affect the specific terms of a Credit Agreement you have already signed with us.

31. Contact Us

If you have any questions about these Terms, or wish to exercise your right of rescission under Section 9, please contact us:

Asante Financial Services (Pty) Ltd
NCR Registration Number: NCRCP12345
Email: info@asantefs.co.za
Phone: +27 31 301 9000
Address: [PHYSICAL / REGISTERED ADDRESS], Durban, KwaZulu-Natal, South Africa