Terms and Conditions



1.1 In this Agreement clause headings are for convenience and are not to be used in its interpretation;

1.2 In this Agreement, unless the context otherwise indicates, the following expressions bear the meanings assigned to them below and similar expressions bear corresponding meanings:

1.1.1 ‘NCA’ means the National Credit Act, 2005

1.1.2 ‘Agreement’ means this Agreement, and includes, if applicable, any Application and/or Quotation and/or any annexes to this Agreement;

1.1.3 ‘Interest rate’ means the initial interest rate as specified in the Quotation;

1.1.4 ‘Prime rate’ means the prime overdraft rate of interest charged by Nedbank from time to time.

1.1.5 ‘Prime rate factor’ means the percentage above and below the prime rate as specified as in the Quotation.

1.1.6 ‘NCA Rate’ means the maximum interest rate as specified from time to time.

1.1.7 ‘NCA Rate factor’ means the percentage above and below the NCA rate as specified as in the Quotation.
1.1.8 ‘Quotation’ means the most recent written Quotation given in respect of this Agreement as contemplated in the Act.

1.3 Any number of days prescribed shall be determined by excluding the first and including the last day, or where the last day falls on a day that is not a business day, the next business day.


The Agreement is conditional on us having conducted a successful credit assessment in accordance S81 of the NCA.


3.1 We will charge interest on the balance of the loan amount from time to time. Your agreement is subject to a fixed or variable rate of interest as indicated in the Quotation. If the Quotation specifies a variable rate, the interest rate will automatically increase or decrease in accordance with the respective Prime Rate or NCA rate factor as specified in the Quotation.

3.2 Interest will be calculated daily on the outstanding loan amount and will be added to the outstanding balance of your loan once a month.

3.3 If you default on your repayment obligations, further interest will be charged on overdue amounts at the same rate as the interest rate applicable to your loan, which will include fees, costs or charges not paid on or before the due date.

3.4 If the interest rate quoted in the Quotation is a variable rate, we will notify you in writing of any variation within thirty (30) days after the change took place.


4.1 You are responsible for payment of all fees, costs and charges specified in the Quotation. We may from time to time vary any fees, costs or charges but will not exceed the prescribed amount in terms of the NCA. Fees, costs and charges are inclusive of VAT.

4.2 If you default on payment of your loan, default administration charges will be charged for the delivery of every default letter.

4.3 If you default on your loan repayment, we may charge you the costs incurred by us to collect on the debt.

4.4 You are liable for all legal costs and insurance premiums which we may incur in exercising any of our rights in terms of these terms and conditions; including all legal costs charged Attorney and client scale, Counsel’s fees, tracing fees and other collection charges.

4.5 If we change the fees, costs and charges stated in the Quotation, we will give you notice of least (5) business days before we make the change.


An agreement will only come into effect on completion of a successful credit assessment. If we approve a loan for a lesser amount applied for, the information contained in the most recent Quotation will apply to the loan and not the information disclosed in the earlier Quotation. If you apply for a further loan, we have the right to settle your existing personal loan from the proceeds of the new loan. Depending on the type of loan you qualified for, the loan amount or the lesser amount, as we may approve, will be disbursed to the merchant or your nominated account. If you selected a split disbursement on a home account loan, a portion of the loan amount will be paid to the merchant and the remainder of the loan amount will be deposited into your nominated account.


You must repay the loan amount together with interest, fees and charges as stated in the Quotation. If you do not make any payment on the due date or if we pay any amount on your behalf and we include this in the outstanding balance. We have the right to alter the monthly payments to such amounts as we determine to ensure that your loan is repaid in the same period as stated in the Quotation. If your bank is closed, inaccessible or has insufficient funds to service the debit order we may apply the debit order to any bank account that you may have with us subject to the provisions to the NCA. If you cancel the debit order authorisation, you must choose another payment method acceptable to us and notify us immediately. If you choose another payment method other than the debit order, receipt of payment will be at your risk until we receive and process the payment. You may prepay any amount owed to us at any time and we will allocate the payment as follows: (i) to satisfy any unpaid interest; (ii) to satisfy any unpaid fees; and (iii) to reduce the amount of the principle debt. You may terminate the agreement by settling the outstanding loan without giving any notice. The amount required to settle the loan amount is the outstanding capital, plus any outstanding fees and interest due to the settlement date.


7.1 If you selected the policy that Nedbank on your behalf you acknowledge that

  • You  were informed of your right to waive the proposed policy and substitute a policy of your own choice and have not waived the policy processed by Nedbank;
  • We provided you with a copy of the policy and explained the terms and conditions of the policy to you;
  • We provided you with a copy of the policy, that you have read and understood;
  • You are familiar with the exclusions contained in the policy
  • Upon occurrence of one of the insurable events under the policy, we will receive the cover payable in terms of the policy.
  • You irrevocably authorised NedLife to obtain from any person, doctor or institution, whom you hereby authorise and request to provide any information which NedLife deems necessary to facilitate the consideration of any claim for any benefits payable in terms of the policy;
  • The premium rates under the policy are not guaranteed and may be altered on the advice of an actuary of NedLife. In such an event you will be given 1(one) months notice of any changes of rates;
  • You have chosen to have us act as your agent in arranging such insurance;
  • You will be the credit assured and that we will be the beneficiary under the policy;
  • Authorise us to pay the insurance premiums on your behalf and that we can recover these premiums as part of the monthly instalments.

7.2 If you arrange your own insurance policy, you must provide us with documentary evidence that the policy is effective and all premiums are up to date. Failure to comply with the insurance requirements is a breach of this agreement.


Should you default on your obligations under this agreement you will pay default administration charges and collection costs to us. We have the right to claim the full outstanding amount in terms of this agreement which may, at our discretion, become immediately due and payable, together with interest and all other amounts owing to us. Any amount in default or arrears will bear interest at the rate refunded to in the Quotation, calculated and capitalised monthly. Subject to paragraph (9) if you are in default, we may institute legal action against you, which may result in a court judgement against you, attaching your salary or property and selling your property to recover the loan that will further result in a bad credit record.


9.1 If you are in default we will give you written notice of default and propose that you refer the agreement to the Debt counsellor, Alternative Dispute Resolution Agent, the Consumer Court or Ombud with jurisdiction with the intention that we resolve any disputes or develop and agree on a plan to bring payments up to date.

9.2 If you applied for debt review under S86 of the NCA 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 S86 (10) of the NCA.

9.3 We can only approach the court for an order enforcing the agreement if at any time you have been in default for at least 20 business days and at least 10 business days has elapsed since the default letter or notice referred to above has been delivered, which 10 day period may run concurrently with the 20 days default period and you have failed to respond to the default letter or have rejected our proposal.

9.4 We may provide a certificate from any of our managers, whose position we need not prove, showing the amount which is due to us and how it is calculated. Unless you are able to satisfy the Court that the amount in the certificate is incorrect, it is agreed that we may take any judgement or order that we are entitled to in law, based on the facts contained in the certificate.


You have the right to apply to a debt counsellor to be declared over indebted. You may not apply to a debt counsellor to be declared over indebted if at that time we have started legal action in terms of paragraph (9). The Debt counsellor will determine whether you are over indebted and if you sought a declaration of reckless credit, the Debt counsellor will find out whether any of the credit agreements are indeed reckless. The Debt counsellor may reject your application, or may recommend that you and the respective credit providers consider and agree on a debt rearrangement plan. If the Debt Counsellor finds that you are indeed over indebted, he may issue a proposal recommending that the Magistrate’s Court make an appropriate order. If the recommendation suggested by the Debt Counsellor is accepted by you and each credit provider, the order must be recorded in the form of an order, and if all parties give consent, it may be filled as a consent order by the Debt Counsellor. If the Debt Counsellor rejects the proposal, then you may apply directly to the Magistrate’s Court for an appropriate order.


11.1You agree that the residential address you provided in the Quotation or the most recent address provided to us in terms of clause 11.2 is the address to which all legal notices must be sent.

11.2 Either party may change its address delivering a written notice of the new address by hand or electronic mail. If you have not advised us of a change of address or any of your other contact details, we will continue to use the last address provided even though the information may be incorrect.

11.3 You may send any legal notices to The General Manager: Nedbank Group Legal: Fax no: 011-2952173; Physical address: 135 Rivonia Road, Sandown, 2194.

11.4 Unless the contrary is proven any legal notice sent by:

  • Ordinary mail in a correctly addressed envelope to the other party’s chosen address, will be considered received on the 7th day after posting; or
  • Hand to a responsible person during ordinary business hours at the other party’s chosen address, will be considered to having been received on the day of delivery; or
  • Telefax to the chosen fax number or sent by electronic mail to the chosen email address, will be considered as having been received on the date of transmission;

11.5 Any document actually received by a party will be an adequate written notice or communication to that party, even though it was not sent to or delivered at the chosen address.


12.1 The loan agreement contains everything we have agreed upon and any change to it must be signed by both of us. If one of us decides not to use a right in this loan agreement, it does not mean that the right is lost in terms of the agreement. If either of us wishes to waive a right in terms of this agreement. we must provide such waiver in writing. Every undertaking in this loan agreement is separate from the others. If any clause is found to be unlawful or cannot be used for any reason the other clauses will not be affected by its invalidity.

12.2 We have the right without your consent to cede, assign and transfer any of your rights or obligations in terms of this agreement to any third party. If any such cession, assignment, transfer or delegation constitutes a splitting of claims that requires your consent you hereby consent there to.

12.3 You are required to furnish us with such information and/or documents that we may require, from time to time, in respect of yourself or your spouse.

12.4 The English / Afrikaans version will prevail in the event of a conflict with any other version of the agreement.


Use of Site:

The content of this CBT Africa website and its individual pages is for your general information and use only. It is subject to change without notice.

Accessing this site implies that you agree to these terms and conditions, as well as that you are familiar with the CBT Africa Privacy Policy and Disclaimer. These documents might be amended from time to time and it is each user’s responsibility to check back regularly.

These terms and conditions apply to the CBT Africa website only. Other websites linked to or from this site, as well as other services or companies referring to have their own terms and conditions, which might not necessarily coincide with those of CBT Africa.

Reservation of Rights:

CBT Africa reserves all of the rights, including, but not limited to any and all copyrights, trademarks, patents, trade secrets and any other proprietary right that CBT Africa may have in this website, its content, and the goods and services that may be provided.

The use of the rights and property of CBT Africa requires prior written consent from CBT Africa. CBT Africa is not providing you with any implied or express licenses or rights by making services available to you.


This website and its related services are provided on an “as is” basis. CBT Africa is the owner of this website and exclusively reserves all associated rights and may (at any time and without notice and any liability to its users) modify or discontinue this website and its services and / or delete the data provided – whether temporarily or permanently. CBT Africa shall have no responsibility or liability for the timeliness, deletion, failure to store, inaccuracy or improper delivery of any data or information.

Third Party Services:

Goods and services of third parties may be advertised and / or be made available on or through this website. Representations made regarding products and services provided by third parties are governed by their own policies. CBT Africa shall not be liable or responsible for any dealings or interaction with third parties.


This website may contain content that may be objectionable. CBT Africa is not responsible for viewpoints differing from that of users.

All information or data of any kind (including, but not limited to, text, images /photographs / graphics, videos, music / sound files and software / code), publicly or privately provided, shall be the sole responsibility of the person providing the content or the person whose user account is used.

Submission of Content:

By providing any content to this website:

You agree to grant to CBT Africa a worldwide, royalty-free, perpetual, non-exclusive right and license (including any moral rights or other necessary rights) to use, display / publish, distribute, promote, reproduce / modify / adapt, translate or save / archive the content. This includes creating derivative works and compilations thereof – in whole or in part. Such license will apply with respect to any form, media and technology known or later developed;
you warrant that you have all legal, moral and other rights that may be necessary to grant Bridge with the right / license as above;
you acknowledge and agree that CBT Africa shall have the right (but not obligation), in the sole discretion of CBT Africa, to refuse to publish or to remove or block access to any content you provide at any time and for any reason – with or without notice.


Copying, reproducing, republishing or distributing the website and associated content, including the layout, design elements, images and text (also applicable to deep-linking, embedding or the use of analogous technology)
Providing any content or perform any conduct that may be illegal, harmful / abusive / threatening, harassing, defamatory, libellous, offensive or vulgar / explicit / pornographic – including content or actions designed to (or which do) interfere with or interrupt this website or any service provided; content infected with a virus or other destructive or deleterious programming routine; content giving rise to civil or criminal liability; or content / actions which may violate an applicable local, national or international law, including (but not limited to) laws relating to copyrights, trademarks, patents or trade secrets
Providing or using this website and any content or service in any commercial manner or in any manner that would involve junk mail, spamming, chain letters, pyramid schemes, or any other form of unauthorised advertising without prior written consent from CBT Africa.
Impersonating or misrepresenting your association with any person or entity, or forge or otherwise seek to conceal / misrepresent the origin of any content provided by you.
The collecting or harvesting of any data about other users.


CBT Africa has the right, but not the obligation, to monitor any activity and content associated with this website. CBT Africa may investigate any complaints or reported violation of these terms and conditions and take any action that CBT Africa deems appropriate. This may include, but is not limited to, issuing warnings, suspending, terminating or attaching conditions to users’ access and / or removing any materials from the website.


You agree to indemnify and hold CBT Africa (including its directors, employees, agents, affiliates, partners, independent contractors, advertisers and co-branders) harmless from any claim or demand, including reasonable legal fees, that may be made by any third party, that is due to or arising out of conduct or connection with this website or service, your provision of content, your violation of these terms and conditions, or any other violation of the rights of another person or party.


These terms and conditions will be exclusively governed by and construed in accordance with the laws of South Africa whose courts will have exclusive jurisdiction in any dispute. However, CBT Africa has the right, and sole discretion, to commence and pursue proceedings in alternative jurisdictions.


In the event that these terms and conditions conflict with any law under which any provision may be held invalid by a court with jurisdiction over the parties, such provision will be interpreted to reflect the original intentions of the parties in accordance with applicable law, and the remainder of these terms and conditions will remain valid and intact.
Failure of either party to assert any right under these terms and conditions shall not be considered a waiver of that party’s right and that right will remain in full force and effect.
You agree that any claim or cause arising out of this website or its services must be filed within one (1) year after such claim or cause arose, or the claim shall be forever barred.

Continued use of this website signifies your acceptance of these Terms and Conditions.