Clientele Loans Review


Product Review

With Clientele Loans they want to protect you which are why they include a Personal protection Plan. This means that any outstanding loan balances are settled in the event of your death, a permanent disability or if you contract a dread disease.

The loan that you apply for is dealt with Clientele Loans Direct and Direct Axis.

You are able to apply for a loan up to R120 000.

Application Process

With clientele you are able to apply for a loan between R3000 and R120 000.

You will be given between 18 and 60 months to pay.

The application form online asks for your personal details and you will begin the process of getting a personal loan.

You are able to use this money however you want.


  • Apply for a loan between R3000 and R120 000.
  • 18-60 months to repay
  • Interest is fixed for the period of the loan
  • Quick and easy to apply


Interest Rate/APR

15.50% – 60.00%. Depending on size of loan and term

Implications of Non-Payment

If you do or omit to do or allow anything which may in any way prejudice our rights under the Agreement or by which we may suffer any loss or damage, including late payment or non-payment of any instalments, you will be in default of the Agreement immediately upon the prohibited event or action or omission taking place. If you pay any instalments later than the date that they are due, you will pay additional interest on the arrear amounts at the same interest rate as set out on the Quotation and which applies to the Agreement. If you fail to honour 3 consecutive debit orders, your debit order will automatically be cancelled and you will be obliged to make cash payments in respect of the amount due and payable. If you fail to pay any amounts due under the Agreement, then we may (without affecting any of our other rights), proceed with legal action for the enforcement and termination of the Agreement, as set out in Chapter 6 Part C of the Act. Where you are in default under the Agreement, the full outstanding capital balance will become due and payable immediately and you will also be liable for default administration charges and collection costs in terms of the Supreme Court Act, the Magistrates Court Act, the Debt Collectors Act or the Attorneys Act, whichever is applicable. Should we elect to enforce the Agreement, the procedure set out hereunder will be followed: CLD Eng TC’s and PAS June 2015 Page 4  a letter will be despatched to you drawing your default under the Agreement to your attention  a proposal will be made in that letter that you refer this Agreement to a debt counsellor, alternative dispute resolution agent, consumer court or Ombud with jurisdiction, with the intention that we resolve any disputes or develop and agree on a plan to bring the payments under this Agreement up to date  if you applied for debt review in terms of section 86 of the Act, and the review is not finalised within 60 business days after you applied for the debt review, we may send a notice, terminating the debt review in terms of section 86 (10) of the Act Should you apply for debt review in this way, you will not be able to enter into any other credit agreement or incur any further charges under a credit facility (such as using a credit card) until such time as your application has been rejected or you have settled all your obligations under all credit agreements as agreed by the court. Legal proceedings will not be commenced against you unless:  you have been in default for at least 20 business days and  at least 10 business days have elapsed since the default letter or notice referred to above has been delivered (which 10 day period may run concurrently with the 20 day default period) and  you have failed to respond to the default letter, or you have responded by rejecting our proposal; Should we elect to terminate this Agreement in terms of section 123 of the Act, the same enforcement procedure set out above will be followed prior thereto. At any time before termination of the Agreement you are entitled to reinstate the Agreement if it is in default by paying all overdue amounts, as well as our permitted default charges and reasonable costs up to the time of reinstatement.

Financial Implications

The following costs of credit are payable:  Interest, which is calculated daily in arrears at the Annual Interest Rate and compounded on a monthly basis on your elected due date for repayment. It is charged from the date the Agreement or amended Agreement is accepted by you.  Initiation fee, which is a fee charged for the preparation costs of the Agreement. You have the option of either paying this fee upfront or having it included in the principal debt. If it is included in the principal debt, interest will be charged on the initiation fee. If you choose to pay the initiation fee upfront, you need to make payment to the First National Bank account that we give you, quoting the reference number that we provide, and provide us with proof of such payment before the loan amount can be advanced to you. This fee is not applicable where a new loan replaces an existing loan or where an additional loan amount is paid in terms of a change to an existing Agreement.  Service fee, which is a monthly fee charged on the due date, for the routine monthly administration of your account. If you do not pay this fee on time it will be added to the outstanding balance and interest will be charged on it.  To the extent permitted by Chapter 6, Part C of the Act, should you at any time be in default in terms of this Agreement, the default administration and collection costs arising from your failure to comply with any of the terms and conditions of this Agreement, and for legal costs, collection costs and commission on all payments made by you if the matter is referred to a debt collection company or attorney. Such costs will be charged as and when they occur.  The monthly cost of the Personal Protection Plan premiums, should you choose to accept our offer of credit life insurance as discussed in the next section.

Potential Impact to Users’ Credit Score

Bank credit checks affecting credit score


Unless stated otherwise there are no renewals for the loan service.

Collection Practices

Debit order over the repayment period