Terms & Conditions

1. Who we are

In these Terms, "Saxon Capital", "we", "us" and "our" refer to Saxon Group (Pty) Ltd, a private company incorporated in the Republic of South Africa (Registration No. [Company Registration Number]), trading as Saxon Capital, with its registered address at 222 Smit Street, Braamfontein, Johannesburg, 2000.

Saxon Capital is a registered credit provider in terms of the National Credit Act 34 of 2005 ("NCA"), with registration number NCRCP: [NCRCP Number], and is a member of the Credit Association of South Africa (CASA). "You" and "your" refer to the person using this website or applying for credit.

2. Definitions

"Agreement" means the credit agreement (loan agreement) entered into between you and Saxon Capital, together with the pre-agreement statement and quotation. "NCA" means the National Credit Act 34 of 2005 and its Regulations. "POPIA" means the Protection of Personal Information Act 4 of 2013. "Business day" means any day other than a Saturday, Sunday or official public holiday in South Africa.

3. Eligibility

To apply for a loan you must: (a) be a natural person aged 18 years or older; (b) be a South African citizen or permanent resident; (c) hold a valid South African identity document; (d) earn a regular, verifiable income paid into a South African bank account in your name; and (e) not be subject to an administration order, debt review, sequestration or insolvency proceedings. Meeting these criteria does not guarantee approval.

4. Application and affordability assessment

All applications are made online. When you apply, you authorise us to verify your identity, income and bank account information and to conduct the affordability assessment required by section 81 of the NCA. We may access and share information with registered credit bureaux and use bank-statement verification services to confirm affordability. We will not enter into a credit agreement that is reckless as defined in the NCA. We may decline any application at our discretion and are not obliged to give reasons beyond those required by law.

5. Loan amounts and term

Saxon Capital offers short-term credit of up to R4,000, repayable over a period of up to 120 days. The amount and term you are offered depend on your affordability assessment and our credit criteria. The specific amount, term, instalments and total cost of credit applicable to your loan will be set out in the pre-agreement statement and quotation, which forms part of your Agreement.

6. Cost of credit

The cost of your loan comprises interest, an initiation fee, a monthly service fee, credit life insurance and VAT where applicable. All charges are levied within the maximum rates and fees prescribed by the NCA and its Regulations. The exact rand values applicable to your loan are disclosed in your pre-agreement statement and quotation before you accept. The online calculator on this website provides an estimate only and does not constitute an offer of credit.

7. Credit life insurance

Your loan includes credit life insurance, as permitted under the NCA and the Credit Life Insurance Regulations. This cover settles or reduces your outstanding obligation in the event of your death or permanent disability, and in the case of temporary disability or unemployment/retrenchment covers your instalments or settles the outstanding balance in accordance with the policy terms. The cost of this cover is disclosed as part of your total cost of credit. You have the right to substitute a policy of your own choice that provides equivalent cover, subject to the requirements of the NCA.

8. Acceptance and disbursement

A binding credit agreement comes into existence only once we have approved your application and you have accepted the pre-agreement statement and quotation. On acceptance, approved funds are paid into the verified South African bank account in your name. We are not liable for delays caused by your bank or by incorrect banking details supplied by you.

9. Repayment and collections

Repayments are collected by debit order, authenticated where applicable through the DebiCheck system, on the dates set out in your Agreement (typically aligned to your income date). You authorise us to collect the instalments accordingly. You must ensure sufficient funds are available on each collection date. If a collection fails, we may re-present the debit order in line with applicable payment-system rules.

10. Early settlement

You may settle your loan in full at any time without penalty. The settlement amount will be the outstanding balance together with any unpaid interest and fees calculated to the date of settlement, in accordance with section 125 of the NCA.

11. Default

If you fail to pay any amount when due, your account will be in default. We may charge default administration and collection costs to the extent permitted by the NCA, report the default to registered credit bureaux, and take steps to enforce the Agreement, including the procedures set out in sections 129 and 130 of the NCA. Enforcement will always follow the process the NCA requires.

12. Your rights under the National Credit Act

You have the right to: receive documents in plain and understandable language; receive a pre-agreement statement and quotation; apply for debt review if you are over-indebted; settle early; and be protected against reckless lending. If you are experiencing financial difficulty, you may apply to a registered debt counsellor.

13. Credit bureaux

You consent to us submitting information about your loan and your payment behaviour to registered credit bureaux, and to us obtaining information from them for the purposes of assessing and managing your loan. Adverse information will only be reported in accordance with the NCA.

14. Use of this website

You may use this website only for lawful purposes. You may not attempt to gain unauthorised access to our systems, interfere with the website's operation, or use it in any way that is fraudulent or harmful. All content on this website, including text, graphics, logos and the Saxon Capital name and marks, is owned by or licensed to us and is protected by law. You may not copy, reproduce or distribute it without our written permission.

15. Electronic communications

You agree that we may communicate with you electronically and that electronic communications, agreements and records satisfy any legal requirement that such communications be in writing, in accordance with the Electronic Communications and Transactions Act 25 of 2002.

16. Limitation of liability

To the extent permitted by law, Saxon Capital is not liable for any indirect, incidental or consequential loss arising from your use of this website or from any matter beyond our reasonable control. Nothing in these Terms limits any liability that cannot lawfully be limited, or affects your rights under the NCA, the Consumer Protection Act or POPIA.

17. Privacy

We process your personal information in accordance with POPIA and our Privacy Policy, which forms part of these Terms. Please refer to the POPIA & Privacy Policy on this website for full details of how we collect, use, share and protect your information, and of your rights as a data subject.

18. Complaints and dispute resolution

If you have a complaint, please contact us first at info@saxoncapital.net or +27 10 142 5329 so that we can try to resolve it. If your complaint is not resolved, you may refer it to:

National Credit Regulator (NCR)
Telephone: 011 554 2600  |  Website: www.ncr.org.za

Credit Ombud
Telephone: 0861 662 837  |  Website: www.creditombud.org.za

National Consumer Tribunal
Website: www.thenct.org.za

19. General

These Terms are governed by the laws of the Republic of South Africa. We may update these Terms from time to time; the version published on this website at the time you use it applies. If any provision is found to be unenforceable, the remaining provisions continue to apply. Our failure to enforce any right is not a waiver of that right.

20. Contact us

Saxon Group (Pty) Ltd t/a Saxon Capital
222 Smit Street, Braamfontein, Johannesburg, 2000
Email: info@saxoncapital.net
Telephone: +27 10 142 5329

This document is provided for general information and does not constitute legal advice. It should be reviewed and approved by a qualified legal practitioner before publication.