Chynge Finance can assist you with a bridging loan in the event of you waiting for a lump sum or large payout. These bridging loans are available to persons expecting a minimum amount of R20 000 If you're awaiting a lump sum payout and who can afford the repayment amount. A loan amount will be afforded to an applicant for up to 10% of the lump sum expected.
Our interest and finance fees are charged and calculated as and fees as prescribed by the National Credit Act and regulated by the National Credit Regulator.
How much will my loan cost?
Set out below is an example of how loan costs are calculated
Interest on short term transactions is calculated at 5% per month
Interest on unsecured transactions is calculated at 24.5% per annum or 2.04% per month
A standard service fee of R60 per month excluding VAT (R69 per month including VAT) is payable
An initiation fee of R165 is payable on the first R1000 capital. 10% is payable on the total capital amount above R1000 to a maximum fee of R1050 excluding VAT (R1207.50 including VAT)
Please note that terms and conditions apply on all transactions.