Terms and Conditions

By using our website, applying for a loan, or accessing any of our services, you agree to be bound by the following Terms and Conditions . Please read them carefully before proceeding.

📌 1. Acceptance of Terms

By accessing or using our website, submitting an application, or entering into a loan agreement with DB Loan Services, you accept and agree to be legally bound by these Terms and Conditions, as well as our Privacy Policy , which is incorporated by reference.

We reserve the right to update or modify these terms at any time. Any changes will be posted on this page with an updated effective date. Continued use of our services after such changes constitutes acceptance of the revised terms.
 

🧾 2. Eligibility

We collect your personal information in the following ways: 

    • Be at least 18 years old.
    • Be a South African citizen or permanent resident.
    • Have a valid South African ID.
    • Have a valid email address and mobile number.
    • Have a valid bank account in your name.
    • Provide proof of income (e.g., payslip, pension statement, or bank statements).

    Applicants who provide false or misleading information may be denied service and may face legal consequences.

    💰 3. Loan Agreement

    Upon approval of your loan application, you will be required to sign a loan agreement that outlines the terms specific to your loan, including:

        • Loan amount
        • Interest rate
        • Repayment schedule
        • Total repayment amount
        • Fees and charges
        • Default provisions

    The loan agreement forms a legally binding contract between you and DB Loan Services. All loans are subject to affordability assessments in accordance with the National Credit Act (Act 34 of 2005).

    🔐 4. Use of Website

    We do not sell or rent your personal information to third parties for marketing purposes. However, we may share your data with:

      • Use the site for any unlawful purpose.
      • Attempt to gain unauthorised access to our systems or data.
      • Reproduce, distribute, or modify content without prior written permission.
      • Interfere with the functionality or availability of the site.

    We reserve the right to suspend or terminate access to the website at any time without notice.

    📊 5. Accuracy of Information

    You are responsible for ensuring that all personal and financial information you provide is accurate, complete, and up to date. We rely on this information to assess your eligibility and determine loan terms.

    Any change in your circumstances (such as employment status, income, or contact details) must be communicated to us immediately.

    📉 6. Interest Rates and Fees

    Interest rates and fees are determined based on various factors, including your creditworthiness, loan amount, and term. All applicable fees and interest charges will be clearly disclosed in your loan agreement.

    Examples of possible fees include:

      • Initiation fee
      • Monthly service fee
      • Collection or administration fees (in case of default)

    📅 7. Repayment Terms

    Repayments must be made according to the agreed-upon schedule. Payments can be made via:

      • Direct debit from your bank account
      • Electronic funds transfer (EFT)
      • Debit order
      • At selected branches

    Late payments may result in additional fees and could affect your credit record. If you anticipate difficulty making a payment, please contact us immediately to discuss alternative arrangements.

    🚫 8. Default and Debt Recovery

    If you fail to make repayments as agreed, you will be considered in default of your loan agreement. In such cases, we may:

      • Report the default to credit bureaus
      • Charge arrears interest and collection fees
      • Engage debt collection agencies
      • Pursue legal action as permitted by law

    🔄 9. Early Settlement

    You may settle your loan in full before the end of the agreed term. If you choose to do so, we will calculate the outstanding balance and issue a settlement figure within 5 business days. Depending on the timing of early repayment, you may be eligible for a partial refund of certain fees.

    🛑 10. Termination of Service

    We reserve the right to refuse service or terminate a loan agreement if:

      • You breach the terms of the agreement
      • You provide false or misleading information
      • Fraudulent activity is suspected
      • Legal or regulatory requirements prevent continuation of the agreement

    In the event of termination, any outstanding amounts remain payable in full.

    📄 11. Governing Law

    These Terms and Conditions shall be governed by and construed in accordance with the laws of the Republic of South Africa. Any disputes arising from your use of our services or loan agreements shall be resolved in the courts of South Africa.

    📬 11. Contact Us

    If you have any questions regarding these Terms and Conditions, or need assistance with your loan, please contact us:

      • Email: info@dbloanservices.co.za
      • Phone: 086 123 4567
      • Postal Address:
        First Choice Loan Services
        PO Box 12345
        Sandton, 2146