Creditum — contractual terms you should read before signing
Published product tables on creditum.co.za did not expose minimum or maximum principals, term bands or annual rates when this page was compiled. What follows merges confirmed mechanics from the lender profile with National Credit Act ceilings that apply regardless of brand.
Confirmed mechanics
| Item | Detail |
|---|---|
| Currency | South African Rand (ZAR) |
| Disbursement | Electronic bank transfer (EFT) |
| Regulation | National Credit Act 34 of 2005; NCR-registered provider |
| NCR registration number | Not listed in public materials at review — check creditum.co.za and the NCR register |
| Early settlement penalty | None — prohibited under the NCA |
Statutory fee caps (indicative NCA maximums)
| Fee type | Cap |
|---|---|
| Initiation fee | Up to R1,207.50 on agreements above R15,000; proportional amounts on smaller principals |
| Monthly service fee | Up to R69 per month |
| Credit life insurance | Regulated maximum rate on the outstanding balance |
| Late payment charge | As specified in your signed agreement |
| Interest ranges, approval minutes and exact initiation percentages for sub-R15,000 loans must be taken from the pre-agreement statement and quotation Creditum issues after assessment — not from this summary. |
Eligibility checklist
- Age 18 or older
- Valid South African ID (green barcoded book or smart ID card)
- Regular, verifiable income (salary, self-employment or other recurring inflow)
- Active South African bank account in your own name for payout and debit-order collection
- South African residency
- Not currently under debt review — the NCA blocks fresh credit while counselling is active
Documents typically requested
- South African identity document
- Recent bank statements or payslip supporting affordability
Credit providers may also pull records from registered bureaux such as TransUnion SA and Experian SA as part of the assessment. Declined applications should receive reasons aligned with NCA disclosure rules; approved offers must show total cost of credit before you accept.
