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Personal Loans - FAQ

Who is RCS?

RCS is a registered consumer finance business that offers financial services for your lifestyle needs – including cards, loans and insurance.

How do I apply for a Auto & General Personal Loan?

You can apply for a Budget Insurance Personal Loan by completing the online application form and we’ll call you back to complete the application or you can call us on 0861 877 774.

What do I need to apply?

To apply for a Budget Insurance Personal Loan you must:

  • Be 18 years or older
  • Have a valid SA ID or Drivers License
  • Have a bank account
  • Be employed and earn R2 000 or more per month
  • You will be required to provide proof of income documentation

How much money can I apply for?

Based on your individual circumstances, you may be granted a loan ranging in value from R1 000 to R250 000.

How will I get my money?

Your loan amount will be paid directly into your bank account.

When will I get my money?

Once your loan has been approved, you will receive your money within 24 hours.

How do I pay my monthly loan instalment?

Your monthly loan instalment will be automatically debited from your bank account on a date you select at time of application.

Will my loan repayments be affected by interest rate fluctuations?

No. The interest rate on your loan will be fixed at our current interest rate for your full loan term, so your repayments will never increase, even if the interest rate goes up.
  

How will you determine if I qualify for a Budget Insurance Personal Loan?

As a registered credit and authorised financial services provider, RCS is governed by the National Credit Act in assessing whether we can provide you with credit. We will conduct an assessment which uses your credit score (which provides us with your credit history and tells us how well you have been managing all your credit in the past) as well as your income and expenses. Based on all this information we will determine whether we can grant your loan at this time.

What if I can’t pay my monthly instalment?

Give us a call on number 0861 877 774 and we will try to assist you in finding a solution that meets your needs.

How do I get my account statement?

You will receive your statement either by e-mail or on your mobile. Contact us on 0861 877 774 and a friendly consultant will assist you.

What is Customer Protection Insurance?

For your protection, your loan must include Customer Protection Insurance. RCS Customer Protection Insurance*, underwritten by 1Life*, covers the following:

 Death Cover – Covers your full outstanding loan balance

 Permanent Disability – Covers your full outstanding loan balance

 Temporary Disability – Covers up to 12 months of loan instalments

 Loss of Income – Covers up to 12 months of loan instalments