1) Tselete Cash Loans Language Policy

 

 

​

The purpose of the Tselete Language Policy is to provide guidelines in terms of language usage for document management, marketing practice and customer communication in Tselete.

A consumer has the right to receive any document that is required in terms of the National Credit Act (NCA) (Section 63(1)) in an official language that the consumer reads or understands, to the extent that is reasonable having regard to usage, practicality, expense, regional circumstances and the balance of the needs and preferences of the population ordinarily served by the person required to deliver that document.

In accordance to the Act, Tselete will hence forward make all documents and forms as required in the NCA available in English, Zulu and South Sotho. Customers will be asked to indicate their language of choice at loan application stage.

A) Documentation

A.1 Pre-Agreement Statement and Quotation

The Pre-Agreement Statement and Quotation used in Tselete’s lending process form an integral part of the credit agreement and as such together with all other documentation prescribed in terms of the NCA will be made available in English, Zulu and South Sotho. These documents are systems generated and will be available via the front end process in the language selected on application.

A.2 Terms and Conditions

The standard Terms and Conditions for loans are printed in English, which is provided on application. Translated versions of the Terms and Conditions will be made available in Zulu and South Sotho.

A.3 Income and Expense leaflet

Tselete has developed an Income and Expense page that is system generates to assist customers with determining affordability levels.

A.4 Enforcement Notice (Letter of Demand)

Enforcement Notices are printed in English, but in the event that a language other than English was contracted in, the Bank will address the section 129 letter in English and will include an additional version of the letter in the elected language, at the back of the English letter.



 

B) Branch Servicing

The standard language of servicing is English, but Tselete Cash Loan staff are able to assist clients in their home language where-ever possible.

 

 

C) Important Notice

 

C.1

 

Because of strict legislation we are by law required to ensure that loans must not cause clients’ debt to be more than what they can repay. We are therefore obliged to ask for information on income and the following essential expenses:

• Loans

• Provision for groceries

• Provision for transport to work and school

• Provision for housing

• Provision for clothing

• Provision for municipal service fees

• Maintenance payments

• Hire purchase installments

• Insurance premiums

• Telephone/Cell phone

• Pocket money

• Other

 

C.2

 

To prevent over indebtedness and reckless credit; sections 81(2),(a),(iii) and (3) of the NATIONAL CREDIT ACT instructs micro-lenders to do the following:

 

   (2) A credit provider must not enter into a credit agreement without first taking reasonable steps to assess-

                (a) the proposed consumer’s –

                (iii) existing financial means, prospects and obligations

   (3) A credit provider must not enter into a reckless credit agreement with a prospective consumer

 

Heavy penalties are imposed on micro-lenders who contravene this legislation

*For all Regulations please follow the link to the