Frequently Asked Questions
1. WHAT DO I REQUIRE TO APPLY FOR A THOLULWAZI CAPITAL PERSONAL LOAN & HOME LOAN?
- A valid SA ID
- 3 latest payslips or 3 latest bank statements
- Must be permanently employed and earning a monthly salary
- A valid cell phone number
- A valid SA bank account
- Must be 18 years or older
2. WHAT ARE THE REQUIREMENT WHEN APPLYING FOR A HOME LOAN?
- 3 months Pay slip
- 3 Months Bank Statement
- ID Copy
- Proof of Residence
- Signed Offer To Purchase Offer
– SELF EMPLOYED OR BUSINESS OR TRUST
- Copy of Registration Certificate documents of the Company or Trust
- 2 Year Financial Statement
- Letter of Drawings
- Latest 6 months Personal and Business Statement reflecting Income
- ID Copy
- Signed Offer To Purchase Offer
2. WHAT DOCUMENTS DO I NEED TO APPLY FOR A THOLULWAZI CAPITAL LOAN?
A valid SA ID, and either 3 latest payslips or 3 latest bank statements.
3. WHERE CAN I APPLY FOR A THOLULWAZI CAPITAL LOAN?
Simply visit www.tholulwazicapital.co.za or WhatsApp 073 888 9399
4. CAN I APPLY IF I AM UNDER DEBT-REVIEW?
Unfortunately, you do not qualify to apply for a loan at Tholulwazi Capital if you are under debt-review.
5. HOW DO I APPLY FOR A LOAN USING THE THOLULWAZI CAPITAL WEBSITE?
6. DO I QUALIFY FOR A LOAN IF I AM SELF-EMPLOYED?
Unfortunately, you do not qualify for a personal loan at Tholulwazi capital if you are self-employed. You only qualify for a Home Loan only if you meet all the requirement as well as the vetting process.
7. IS THE THOLULWAZI CAPITAL ONLINE LOAN APPLICATION PROCESS SECURE?
Yes. You will need to fill in the online application form and click on the submit button. After that you will need to upload the documents by e-mail them to ; email@example.com
8. MY LOAN APPLICATION WAS DECLINED, HOW LONG SHOULD I WAIT BEFORE TRYING TO REAPPLY FOR A THOLULWAZI CAPITAL LOAN?
You may reapply for a Tholulwazi Capital loan after 30 calendar days.
9. HOW DO I SEE WHAT LOAN AMOUNT I QUALIFY FOR?
A loan offer will be prepared for you which will give you an indication of the loan amount you may qualify for subject to the completion of our affordability assessment. The loan amount may change subject to additional credit checks performed once your application has been completed and submitted to us.
10. HOW MUCH MAY I APPLY FOR?
We offer loans from R 500 to R8000.00 for pay day loan, we also have personal loan from R1000 to R250 000.00, the outcome is based on your affordability assessment which considers factors such as your income and expenses, your credit profile and payment behavior.
The home loan is usually based on the affordability of the client , their fore the client must have atleast a minimum of 640 on the credit score in order to qualify. The affordability in most cases is assessed based on the Gross income.
11. HOW LONG WILL I WAIT FOR A PAY-OUT?
Your loan will be paid out within 3 hours on pay day loan and on personal loan it is 48 hours on business hours after approval to your nominated bank account.
12. HOW CAN I SUBMIT MY DOCUMENTS?
- Upload your documents right here, by selecting the upload tab on the website
- Email your documents to: firstname.lastname@example.org with your SA ID number in the subject line after applying.
- Fax your documents to 086 480 0122 with your SA ID number noted in writing as reference after applying.
- With your permission, we can assist in retrieving your documents at no extra cost to you if you bank with ABSA bank, Standard bank or Nedbank.
13. I DID NOT RECEIVE A ONE-TIME-PIN (OTP) ON MY CELLPHONE? CAN YOU TELL ME WHAT MY PIN IS?
For your security, PIN numbers are completely private. We only send OTP pin f for personal loan application starting form R 1000 to R250 000.00. The PIN is also sent on the beginning of the application process.
14. I WANT TO CHANGE MY CELLPHONE NUMBER.
In order to update your details, please contact one of our consultants to assist you on 087 821 3154.
15. WILL NON-PAYMENT AFFECT MY CREDIT RECORD?
Non-payment will have a negative impact on your credit record.
16. I AM UNABLE TO PAY MY INSTALMENT, CAN I MAKE AN ALTERNATIVE PAYMENT ARRANGEMENT?
Yes, please contact Tholulwazi Capital’s Collections Department on 087 821 3154 to make an alternative payment arrangement.
17. WILL MY LOAN TERM BE SHORTER IF I PAY MORE ON MY MONTHLY INSTALMENTS?
Yes, your loan term may reduce should you make additional payments, depending on the amounts paid and the term of the loan.
18. HOW DO I CHANGE MY DEBIT ORDER PAY DATE OR BANK ACCOUNT DETAILS?
You can change your debit order pay date or bank account details in one of three ways:
- You may call our Tholulwazi Capital contact centre on 087 821 3154 and request to update your details.
- Please note that your respective bank may require you to approve a Debi Check Authentication message when you opt to change your debit order pay date or bank account details.
20. HOW DO I SETTLE MY ACCOUNT WITH THOLULWAZI CAPITAL?
You may call our Tholulwazi Capital contact centre on 087 821 3154 or send an e-mail to us to obtain your settlement quote. You may then make payment via the following options before your given expiry date:
- Direct Deposit
21. HOW LONG IS THE SETTLEMENT QUOTE VALID FOR?
The settlement quote provided to you by Tholulwazi Capital is valid for seven business days from date of request, and the settlement balance must be paid in full before such time.
22. WHY IS MY SETTLEMENT QUOTE DIFFERENT TO MY BALANCE?
Your settlement quote includes the unpaid balance of your loan, as well as all unpaid interest and fees which accrue up to the settlement date which may have not yet been added to your account.
23. WHAT IS DEBICHECK?
- Debi Check is a secure debit order payment system which allows you to electronically approve your debit order details with your bank.
- An approved Debi Check debit order mandate is required to pay your money into your bank account and collect your monthly instalments.
24. WHY WAS DEBICHECK INTRODUCED?
- Debi Check was introduced to protect customers and organisations from fraudulent activity and debit order abuse, for example processing of unauthorised debit orders resulting in high dispute rates. It will also prevent
customers from avoiding paying valid debit orders by unfairly disputing them with their bank.
- Debi Check serves to protect customers, requiring credit providers:
- To have an active authenticated mandate and
- To deduct the debit order amount agreed to.
25. HOW DOES DEBICHECK IMPACT MY THOLULWAZI CAPITAL LOAN APPLICATION?
- All Tholulwazi Capital customers will undergo our loan application process, and then receive instruction from their bank to approve the debit order mandate from Tholulwazi Capital.
- Your bank will send you a USSD notification which you must accept or reject. If you do not receive a USSD notification, you can also approve the debit order mandate via one of your preferred banking channels.
- Should you not approve the request, Tholulwazi Capital will request the bank to load the debit order on your behalf. If our request is unsuccessful, we will contact you to assist you with the debit order approval process. Please remember, a delay in approving the request from your bank will delay the transfer of your money into your bank account.
26. WHAT IS THE DIFFERENCE BETWEEN DEBICHECK AND WHAT I CURRENTLY HAVE?
Historically, customers could give verbal or written consent to creditor providers to submit debit order instructions. With Debi Check, all debit order mandates will be sent to you, via your bank for your approval before any deduction may take place. The bank will, therefore, store your Debi Check debit order agreement with them.
27. WHAT ARE THE BENEFITS THE DEBICHECK DEBIT ORDER?
Debi Check serves to protect customers by issuing an active, authenticated mandate, which means service or credit providers cannot deduct more than agreed to or abuse the debit order system.
28. HOW DO I APPROVE THOLULWAZI CAPITAL'S DEBICHECK MANDATE?
Your bank will notify you of the pending Debi Check mandate that requires your approval. Be sure to follow your bank’s instructions carefully. If you do not accept the approval of the mandate, Tholulwazi Capital will not be able to process your loan. Your bank will advise you of several approval channels, which should confirm your Tholulwazi Capital Debi Check debit order. This includes, but is not limited to the following:
- Internet Banking
- Call Centre
- Cell Phone Banking
- Banking App
- Bank Branches
29. HOW OFTEN DO I NEED TO APPROVE THOLULWAZI CAPITAL'S MANDATE?
You only need to approve Tholulwazi Capital’s Debi Check mandate once, unless you make the following changes during your loan period;
- Every time you change your banking details
- Every time you change your pay date
- If your loan is rescheduled
30. IF YOU ARE A FIRST TIME BUYER FOR A NEW HOME?
- You get a Home Loan of up to 100% of the property value or up to 105% if you are a first-time buyer which covers Bond Transfer and Conveyance and Attorney Fees. If you hold a Degree Qualification and above you also qualify as well for a 105% if you are a first time home owner. Copy of Purchase agreement -completed , dated and signed by the Purchase and Seller.
30. IF YOU EARN AN ADDITIONAL INCOME?
- Bank statement must reflect all additional income.
- Latest investment or pension statement confirming monthly investment income.
- Latest valid signed lease agreement confirming monthly rental income. If multi-tenanted, the latest rates & utility account, accounts, statement ( for water, electricity, refuse ,sewerage). A levy statement is required for sectional title units.
32. LENDING CRITERIA FOR NON-RESIDENTS?
- The loan amount may not exceed 50% of the purchase price of the Property. ( The reserve bank rule is that for every rand you bring into the country , they will also lend you a rand.
- The buyer must obtain a consent from the Reserve Bank prior to the transaction being finalized. The application to the Reserve Bank can only be handed by an appointed dealer which include the commercial banks.
- Proof must be provided that the funds for the deposit emanate the country of Origin, which can be done by the Attornerys involved in the transfer in the transfer.
- A statement of the foreign assests & Liabilities must be made available.
33. IF YOU'RE OVER 55 YEARS?
- Copy of the latest retirement annuties, provident fund, pension fund and or investment statements where applicable.
Start Your Loan Application
For your own convenience, We have made it easy for you to start you application with just a click of the button.
Tholulwazi Info HuB
Fairbreeze Office No 23,
T: +27 87 821 3154
C: +27 73 888 9399
08:00 to 17:00
08:00 to 13:00
Sunday and Public Holiday Closed
Tholulwazi Capital is a registered credit provider NCRCP13761