Crezu
Crezu is a free South African loan comparison platform connecting borrowers with NCR-registered lenders. Learn about the company, its structure and how to verify lender licences on Creditdeals.io.
How to Repay a Loan Matched Through Crezu: All Payment Methods
Repayment terms and collection methods are set by the individual lender matched through Crezu — not by Crezu itself. The information below covers the standard repayment mechanisms used by NCR-registered lenders in South Africa and applies to the vast majority of products available via the Crezu network.
Repayment Methods
Bounce fee: Your bank charges you for a returned debit order
Bounce fee: Your bank charges you for a returned debit order (typically R150–R250 per failed debit).
Penalty interest: The lender charges penalty interest on the
Penalty interest: The lender charges penalty interest on the overdue amount, typically at the maximum rate permitted by the NCA.
Credit bureau listing: A missed payment is reported to credi
Credit bureau listing: A missed payment is reported to credit bureaux, negatively affecting your credit score.
Demand letter: After a defined number of missed payments, th
Demand letter: After a defined number of missed payments, the lender is entitled to issue a formal Section 129 NCA notice.
Legal action: Continued non-payment may result in a summons,
Legal action: Continued non-payment may result in a summons, magistrates' court judgement and potential emolument attachment order (garnishee order on your salary).
Set your repayment date to coincide with or immediately afte
Set your repayment date to coincide with or immediately after your salary payment date.
Keep a small buffer in the repayment account at all times to
Keep a small buffer in the repayment account at all times to cover debit-order pulls without overdraft risk.
Never close the debit-order account without first notifying
Never close the debit-order account without first notifying the lender and arranging an alternative.
Check your bank statement after each debit-order date to con
Check your bank statement after each debit-order date to confirm the repayment was collected and recorded correctly.
If you receive unexpected correspondence from the lender or
If you receive unexpected correspondence from the lender or a debt-collection agency, do not ignore it — respond promptly.
Early Repayment
### Early Settlement
Loan Extension
### Loan Extension / Rollover
Penalties
Under NCA Section 125, you are entitled to settle your loan early at any time. There is no early-settlement penalty. To settle early:
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Crezu is a free South African loan comparison platform connecting borrowers with NCR-registered lenders. Learn about the company, its structure and how to verify lender licences on Creditdeals.io.