RCS Loans in South Africa |Easy Payment Calculator

RCS Loans in South Africa |Easy Payment Calculator

If you are looking for loans, RCS can be one of the options that could work in your favor. It has an application that you can download, loans that could meet your expectations and much more. RCS is a well known company through which you will be able to access different benefits and features perhaps not given through other companies.

How do I get a loan from RCS?

In case you are in search of extra cash for vehicle repairs, a wedding or studies, RCS can be a great option for you and your loved ones. To get started you need to follow some steps that will help you get the loan from RCS. The company will call you back as soon as your loan is determined. Clients can access amounts that range from R250 000 in only twenty four hours with a simple call. In case you qualify for a loan, the company will make sure to give you a phone call and will ask for further details in order to complete the process of your application. Within twenty four hours, the money will appear on your bank account (if the loan is approved).

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These are some of the requirements you should meet:

  •  Clients need to be of eighteen years or older

  • Clients need to be south African citizens and have an ID

  • Clients must have a bank account in which they will have their loan deposited

  • Your minimum per month should be of R2000

  • Clients will be asked to provide RCS with proof that shows income documentation.

Is there an RCS loan online application?

The company offers you the possibility to apply online by filling an online application. The company will ask you to provide the number of the client’s South African ID and the bank details of the client so that RCS can set a debit order. These are some of the advantages of having the online application carried out:

  • It is fast and convenient

  • You avoid long queues

  • You can apply from home

  • You will receive a phone call once your application has been evaluated

  • You can attach some files if you need to, instead of having to forward them in person

How do RCS loans work?

They work the same way as any other loan given by a South African company. This means that you apply through an online application to obtain an RCS loan. You will have to provide the agency with all the details they require to make sure that the whole process runs smoothly. They have particular benefits and features that will be further explained:

  • You will have access to an application process that is paperless and fast

  • You will be able to get cash loans that range from R 2000 to R250000

  • You can make the decision in just a couple of minutes

  • Within only twenty four hours, you can access the cash in your bank account

  • Repayment options are flexible and convenient. You can even pick from twelve to sixty months

  • The monthly statement is free and you can get it via SMS or email

  • Access protection insurance for customers

  • Interest can be quite low, starting from 15%

Does RCS offer home loans in South Africa?

RCS provides all sorts of loans, especially standard loans. These loans do not go under the name of home loans, but you can make use of them for whatever purpose you may have in mind. If you need to upgrade your kitchen, home or simple build up a new bedroom, you can make use of a loan at RCS for this purpose.

Can I make use of an RCS loan repayment calculator?

RCS does not have a loan repayment calculator. However, it does provide some representative examples of how a loan would work at RCS. For instance, if you were to pick an amount of R7 500, you could get a term of twenty four months. The annual interest rate could perhaps be closer to 27.50% and so the initiation fee would be approximately R 936. The service fee per month would be of R69, which would make the amount payable of R13 312. The installment amount per month would, therefore, be of R555.

Does RCS offer business loans?

RCS offers regular loans that can be used for different purposes. The features and benefits for loans are the same as for business loans. They do not go under “business loans” per se, but you can use them for your business or to launch a product or personal project that you have in mind. Business loans are ideal when you need extra money for investing in your personal dreams and goals when you lack the needed amount.  

Does RCS provide clients with consolidation loans?

Once again, the company RCS only provides standard loans that can be used for a variety of purposes. When it comes to consolidation loans, the situation is different. Having a consolidation loan means that you have a single loan through which you can consolidate your debt, meaning, they are all unified so that you have everything under control. 

What does game card loan consist in?

Game card loan consists in a more advanced, technological way of approaching loans. You can download an app and manage your account in a more virtual way. It is a mobile app that you can make use of 24 hours a day, 7 days of the week. With this app, you can:

  • Pay your account on time

  • Have a view of your latest statement and have a better control

  • Update your personal details

  • You can register for carrying out purchases online

  • You can check your balance

  • You can obtain your statement through your email address

Besides, you will be able to:

  • Choose to get the statements through your email

  • Check the amount of credit that is available

  • You can download your statements virtually

How is the interest rate for RCS loans?

Rates are in constant change due to the changing and volatile conditions of the market. The maximum cannot be exceeded, which is of 27.50%. This has been prescribed by the NCA. Also, the customer risk profile will also have an impact on the rate and may change the fees too.

Could I access RCS loan insurance?

RCS offers insurance of different sort. It does offer:

  • Funeral plan insurance

  • An income protection plan

  • Protection insurance for customers

  • Personal accident plan

  • Home and motor plan

  • Critical illness plan

  • Protection insurance for customers is one of the options that will have you covered when it comes to loans. This option is included in your loan, and it covers the following:

  • permanent disability, which means that it covers the complete loan balance (outstanding)

  • loss of income (it covers up to twelve loans installments)

  • death cover, which means your outstanding loan balance

  • temporary disability, which means that it covers loan installments (up to twelve months)

Are the loans at RCS legit?

This is another frequent question. Whenever we pick an agency to work with for a loan, we need to know whether it is legit or not. RCS is a legit consumer finance business that is focused on providing a wide range of financial products and services in association with different leading retailers in Botswana, Namibia and South Africa. The main objective is to upgrade the lives of its customers by bringing innovative solutions and credit products that are accessible. Remember that RCS is an authorized and registered financial service provider and credit provider. The national credit act governs RCS to make sure that the credit or loan can be given to the client. Your credit score will be used in order to carry out the assessment which will provide the company with a credit history and will enable to show them how you managed and handled your credit before. Based on certain bits of information, the company will determine and decide whether they can grant you a loan. They do take into account the credit profile of the customer for safety and to make sure that the client has a good record or behavior when it comes to previous loans.

How are RCS loans reviews?

Clients work with companies and they always leave a comment of their experience, whether it was positive or negative. These are some of the reviews left by some of the users:

  • “RCS was quick in helping me find a loan that could suit my needs and limitations”

  • “the process of application with RCS ran smoothly and it was actually quite fast compared to traditional banks”

  • “RCS provided me with a bunch of options that could benefit me and my personal projects”

  • “not having an email address you can write to may seem like a disadvantage, but the company is quite fast in answering through their website”.

  • “the company provided me with a personal loan that I used immediately. It has plenty of advantages”

Does RCS offer loans in different branches?

  • The company has two main branches in South Africa:

  • One of the branches is located in Cape Town, in Liberty Grande Building

  • The head office is also located in Cape Town, in Raapenberg Road, in Golf Park.

Even if you live in other areas in South Africa, you can still apply for a loan from other cities since you can carry out the process online. In case you do not know how to do this or need extra help, you can get in contact with members of RCS to reach you and have you explained all the details that you are missing.

Are there any RCS loans in Durban?

The only main offices that RCS has are located in Cape Town. If you live in Durban, though, what you can do is apply for a loan from the online application without the need to be in Cape Town.

Does RCS have a contact telephone number for loans?

You can contact RCS by leaving the company a message on its website with your personal data or you can make a phone call by dialing up 0861-72972. Both ways are safe and the members of RCS will get in touch with you as soon as they receive your message. If you decide to leave the message on their website, this may take a little bit longer when receiving a reply from RCS.

Does RCS loans have an email address?

If you need to send an email, it will not be possible to do it through an email account. However, the company allows customers to leave a comment or message through their website. You should also leave your personal details, such as name, email address, cell phone and name.

Which are the working hours for RCS loans?

It is generally opened every day, from Mondays to Fridays, from eight in the morning till five in the afternoon. During the weekends, it generally remains closed to the public. This is the same for both offices located in South Africa, in Cape Town.

Is convenient getting a loan at RCS in South Africa?

As you may have seen, getting a loan at RCS has multiple benefits and the best of all is that you do not even have to do the operation face to face. You can get everything you need online. It has particular benefits for those who have been clients for many years. You can even access insurance, cards and other services that you may be in search for. For additional options, you should contact RCS to check whether they can provide you other services. Many clients wonder whether they can get personal loans at RCS without a pay slip. On this occasions, it is of paramount importance that the clients ask what their options are and if they can make this possibility a reality.

Preguntas Frecuentes

Someone approached me and they said I can apply even outside the country, but he charged me r1,500 for the process to start. My question is, How genuine is this? Please help

As you can be subject of fraud, you must be completely sure you are dealing with RCS. The only way to get a loan at RCS is by meeting their requirements and applying your self. So, if someone offers you a loan quote before studying your financial information, you should be cautious about it. If you can, contact the bank in person to elicit any doubt.

I have a rcs loan, can you please tell me if I can make payments in person?

When your loan was issued, RCS surely informed you about the method to cancel the payments. This is done by debit orders simply to make things easier for the bank and for you. You don’t have to try to remember to cancel the loan as, it’s done automatically every month. But, if you have any sort of issue with your bank account, don’t hesitate to contact RCS and inform them about it so, they can fix it.

I need the lowest rate, how can I get it?

To begin, you can know which bank has the lowest rate by using the loan simulator we offer. Once you have that information, the interest rate will be defined by the bank in accordance with your credit history. The best strategy to get low rates is by managing your credit in the most responsible way, meaning, paying your debts on time. That will give you an excellent credit score which, in turns, will give you better rates on your loans.

Hi, I want to submit my application for a home loan. I am self employed and I want that money to build rooms for rental

The first point to clarify is that RCS doesn’t work with home loans. So, you should think about another company. The second point is that not all bank grant loans to self-employed as, there’s a higher risk when granting loans to non permanent workers. This means, you must get a bank granting home loans to self-employed as, for example, FNB. But, there’s another alternative in this case, as you intend to start a business, FNB or Nedbank may assist you with a business loan.

I need a new loan. My current loan should end next month. I need to build a house

If you have been responsible with your current loan, you might try to wait a couple of months to get more funds and, I’ll explain why. Once you finish paying for your existing liability, your credit score will be modified according to your payment behaviour. If you paid each instalment on due date, that record will improve giving you the chance of getting lower rates and higher quotes on your next loan.

Please, I need a loan amount 20000.for today. Thank u

Even though RCS tries their best to go fast on the loan application and approval, there are steps that have to be taken seriously. So, it will probably take a couple of days from the day you apply until the day you get the funds. If you need to have the money today, there are companies working with pay day loans, which can be issued the very same day you apply. One of them is Cash Converters.

I want to apply for a rcs loan of just r3000. What is needed?

What RCS asks for when applying for their loans is to have proof of salary, identity and bank statements. It is mandatory for you, as the applicant, to prove you are a South African citizen who is eighteen years old as least and, has a steady job. Apart from having a steady job, your monthly compensation must be 2000 rands or higher.

Can I apply for a loan when I'm using a passport with valid permit?

When we focus on the documents RCS needs to verify the borrower identity, we can say any document issued by the SA Government can work for it. You can also use a SA driver licence to prove you can take a loan. I want to remind you, you need to be employed on legal basis to be eligible for a RCS credit.

Do I qualify for a loan if I don’t get pay slips?

Saddly, it will be more difficult to get a loan if you can’t prove you gain a stable salary per month. RCS demands their clients to submit documents that support earning at least R2000 and, as this is the reason why you might find some difficulty, it will help you a lot if you can present salary slips showing your income stability.

For the people who get paid for weeks, how much can they ask for?

With disregard of how are you paid, the sum of money RCS will grant you depends on few factors. Some of them are, for example, how much is your monthly salary, how much you spend on your monthly expenses, what’s your credit record and, if you have taken previous loans with them recently. When you begin the credit request, RCS will take this information to present you their loan offer.

How much does RCS charges on fees?

To refer to fees RCS includes in their loans, we should mention two. One fee will be paid only once before you start with the official process. This is the initiation fee which is calculated taking the loan quote granted into consideration. The other fee is paid every month and, clearly, it’s included in the installments. This is the Service fee and, it always stays on 69 rands.

Can I apply for a loan since I get paid weekly 890 and I get 1200 of grants every month?

RCS’s requirement that refers to the client’s income, states he or she has to earn 2000 rands per month. If gathering your weekly payments, you reach that number, you sure have a possibility to start the RCS application. Don’t forget. You need to have that salary in your bank account and, you’ll also need to present documents proving you earn such amount.

Where does RCS come from? It’s under what?

This South African company works under what’s established by the NCA (National Credit Act). This means that RCS is a registered company and, as such it’s allowed to do certain financial operations regulated according to what the NCA establishes. Thanks to this, you can be sure the interest rate your loan gets won’t be higher than what’s allowed, which is 27.75%.

Which is the lowest rate for RCS?

RCS loans can be charged with 15 % interest rate as the lowest. Such rate won’t go higher than the maximum allowed by the NCA, which is 27.75%. Don’t forget there are service fees added to the total cost of the loan. An examples of this is, for instance, you will have to pay the Initiation Fee at the beginning. So, ask about it before accepting the loan to know exactly how much should you pay.

Good day, I don’t have any record of payment. Never had debt in my life. But I do work, will I get a loan?

Here’s the thing. When lending companies pay attention to the record profile of an applicant, they do so to see how she or he behaves paying expenses and debts. That’s how they decide to lend the money or not. When applicants don’t have any record of payment at all, the company finds it difficult to trust on them. Even though, you’ve never had any debt, they can’t take you as a possible client. To build your credit record, you need to have paid for some public service, for example. Another alternative is to ask for short term payday loans as, they don’t pay such attention to the applicant’s financial record. Then, you’ll make sure to repay on time to start building a positive credit record.

what if I don’t have a bank account?

To get a RCS loan you have to open a bank account if you don’t have one already. On one side, this bank will ask you bank statements to check your money movements. And, besides, you are going to pay the loan through a bank account. RCS sets debit orders as method to cancel the installments. So, you need to be the owner of a bank account if you want a RCS loan.

Hi, I want to know how much would be the monthly instalment for 100000 if it's paid with 36mnths?

I’ll show you two examples, each of them with different interest rates as, at the end, the cost of any loan is established mainly by the interest rate charged. If we suppose your loan gets around a 12 % interest rate, we can calculate the monthly cost may be near R 3300. Now, if we take a higher rate, 23 %, the monthly payment may round on R 3800.

Can a person borrow money if you have an existing loan with RCS? For example, I need around r400

Even though your salary might allow you to take more money, at RCS the minimum loan quote to request is R 2000. If you only need R 400, you might look around payday loans companies. That kind of loan is granted for lower amount and, you return the money plus interest in just few months. Some payday loans entities have one installments only but, there are few that offer from 3 to 6 installments.

I want to apply for a RCS loan of r2000, can I?

Sure you can! Actually, that’s the minimum loan quote RCS offers their clients to ask for. As you don’t need a lot of money, you might ask for the shortest term to pay, which is 12 months. What is more, if you don’t want to spend a whole year paying a 2000 rands loan, you can look for a payday loan that should be paid from 1 to 3 months only. This is just another alternative for you to compare and decide.

Hi can you tell me what loan options does RCS offer?

At RCS you are only going to find personal loans issued to individuals. All the same, you can use the funds on anything you need. For example, if you have many liabilities and you want to cancel them to have your payments better organized, you can use the money RCS grants you to pay for those debts.

I just want to open a business, will RCS help?

RCS can help you but, only to prepare some details as, they don’t work with businesses. If it works for you, you can take a personal loan and use the money to equip your company, for example. If you need more help than that, you will have to try with another entity able to assist you financially to establish your company.

Hi I need to know if I would qualify for a loan. My income is 3260pm. I need a loan to settle my son's school fees. Please tell me if I qualify. Thanks

Earning more than R 2000 per month places you one step closer to your loan with RCS. Now, you need to begin your loan request to provide RCS more information about you to let them go over your credit assessment. After that, they’ll decide if your overall finance allows you to take the credit.

I would like to know if RCS loans a person who have extra income

RCS will lend money to people meeting their requirements and having a standard credit score. If you earn extra income, you can add it to the loan application for them to have it in mind when deciding the terms. But, you can only do it if you get pays lips from it because the bank has to verify such earnings.

Can I borrow money on a company's name as a director?

Not with RCS. This financial company accepts granting loans only to individuals that need to cover personal expenses. You may use RCS funds to invest on your company if you want to but, it will be a personal loan on your name, not on your company’s name. For business loans, I advise you to take a look at FNB or Nedbank.

Hi, I want to make a loan, what do I do?

Before starting a loan request, you ought to make sure you meet what the entity requests to get a loan. One of the most important requirements for RCS is to earn two thousands rands monthly or more. But, also keep in mind, you need to get salary slips from your job to get a loan form RCS. Once you are sure about this point, you can contact the bank to start your application.

I am self employed. Can I apply for a loan?

RCS won’t allow you to take a loan unless you submit pays lips so, if you work on your own, this company is not a possible solution. All the same, there are banks in South Africa willing to help self-employed citizens. You need to present bank statements from at least 6 months showing certain stability on your monthly income.

When do I get it? I need it for business purposes

The steps you need to follow to receive the loan are 3: fill in the application (online or by phone), submit documents supporting the requirements and wait until RCS gives you the approval and a loan offer. When you get the offer, you can decide if you accept it or not and, from the moment the loan has been confirmed by RCS, in just 48 hours they’ll make the arrangement for you to have the loan in your account.

Are these loans strictly for South Africans only? What if you are a namibian and needed a loan?

As regards nationality, what this bank has said is that every applicant must have and present a South African Identity Document. For any foreigner interested in applying for a loan, it may be a possibility if they have, for instance, a permanent residence issued by the Government of South Africa. Remember, the applicant must meet other requirements like, having a job, for which you need to be allowed to work.

Can I get the loan while I’m earning r13000 monthly?

What RCS has established as minimum salary to apply is 2 thousands rands so, clearly, you can ask them a loan. Bear in mind the rest of the requirements as, you will also have to prove your income and your identity, for instance. Besides, you need to have an active bank account through which the loan will be deposited and paid.

I was pre-approved for a loan with rcs. 1. Does that mean the credit check was already done? 2. Can I still get declined? 3. How long does it take to get a final answer?

Being pre-approved for a loan does not necessarily mean it’s already confirmed. It simple means you comply with the first stage of the requirements. Now, RCS will go over your affordability and financial status deeply to verify you’re not under administration, for example. Of course, if they find you can’t afford to pay the loan terms you ask, they will reject your application or, if they think it’s possible, offer you a lower amount. RCS assures it only takes a couple of days to get the money.

I want to apply for a loan. Will rcs help me?

You can apply for a loan either by phone, in person or online. RCS Will help you throughout the whole procedure, since it has a staff of professionals willing to guide you in each step so as to become eligible.

Can I apply for a loan if I get paid fortnight?

You are welcome to apply at RCS if you get weekly income. All the same, the bank will research about your finances and current debts to decide if they will give you the money. So, as long as your salary is sufficient to cover for your expenses plus the new loan, RCS will allow you to take a loan from them. Remember, they will demand you to submit salary slips to prove your earnings.

I am a young man and I’d like to get a loan to my start up business. Can I take a loan from you, coz I am struggling for funding my business of construction? I am employed in ministry of health and social services

Because you get permanent income, you are allowed to ask RCS for a loan. However, at this company you will only get personal loans so, they won’t be the right solution to start a business. You may invest that money on some equipment, for example, but, if you are having financial problems to begin your company, a business loan will be more suitable for you. One of the best South African bank issuing that loan is Nedbank.

How much will I pay a month for two years?

Firstly, your monthly payments will vary according to the loan amount you’ll be given by RCS. Besides, sure, they will be affected by fees and the interest rate your loan will get. Let’s picture an example. If, let’s say, you get 7500 rands to pay in 2 years, you can take a maximum rate of 27.75%. Also, you’ll get service fee of R 69 to pay each month. Taking all these costs into account, you might have to pay R 556 on monthly installments.

Must I come to the branch for a loan?

No, and that’s one of main benefits of this company. After you get the loan confirmation from RCS and, as they’ve asked you your bank account details, they will transfer the money into that account for you to have instant access to it. After that, when your payment date arrives, the installment will be debited form the same account. This way, you’ll have the simplest process to get and, to pay for the loan.

What is the minimum amount of money that I can take? You can take out from R125 000 onwards.

You can take out from R125 000 onwards.

Can I get the application form?

There are two ways to get the application form from RCS. One way is to get into their web page and find it. Once you get it, you’ll need to start submitting information about your identity and, how to get in contact with you. The other way is to reaching the company by phone. There, you’ll submit the same information to complete the loan application form and, find out if you can be issued a loan with this company.

Morning, may I ask if you do top ups on existing loans? Required amount r 2500.00 to top up! Thank you

Some entities allow to top up an existing loan but, under certain and strict requirements, of course. The applicant must have at least half the installments paid up and, if they have gotten behind with even one of them at some point in the past, the chances may lower down. You may try to apply to see if you can get a top up loan as, that will depend on how you’ve been cancelling your payments so far.

How can I obtain my RCS Card?

You can do it online or go to your nearest branch (with minimum requirements such as your ID book and your latest 3 months payslips).

How much will I pay back over 60 months for r124 000?

The cost of each loan differs from each other as, the information about the applicants has direct effect on it. This can be explained simply. The interest rate to pay is based on the applicant’s behavior with payments. That is, the bank will award those who have a really good credit record. We can tell you RCS manages interest rate from 15% to 27.75% and, besides, there are some fees charged and a one-time only Initiation Fee

I want to know the requirements

Fine, we can help you with that! You ought to be a South African citizen of at least 18 years old, having a minimum monthly salary of r 2000. Also, as the payments are cancelled through Debit Order, you ought to have a bank account. To start processing your application, RCS needs your ID and details form your bank account then, they’ll ask you the rest of the documentation they need to check the requirements.

I need a loan of 100000, how can I get it?

Starting, check the requirements RCS has established so, you’ll know if you have a chance. Then, be sure to have all the documentation needed that prove you meet those requirements. Finally, you can get online to give RCS a call to fill in the application form. If you qualify, the bank will get in contact with you to move on with the application.

Can you please process my application, because i need to buy a house for my family. I am working permanently as admin officer from 200 tll to date, I will be glad if you can process as soon as possible

If you have sent your loan application, you will for sure get an answer right away. An important detail you must know is that RCS can’t grant you a home loan. They’ll only offer personal loans that may help you reach the amount you need to buy the house if, for example, you have saved certain amount of money and, you need to complete the total value of the property you want to purchase.

How much will I have to pay back per month?

As we don’t have the information needed to answer that question, such as your loan quote and payment term, we’ll provide you with a loan example for you to know an approximate cost of a loan. For a loan request of R7500 over 2 years, you’ll pay R556 per month. This installment includes the interest rate, a service fee charged monthly and, there’ll also be an Initiation fee of R936 charged upfront.

Can I get r200000?

mind is possible. Once you go over the loan request, RCS will get in contact with you to let you know if you’re qualified to get that sum of money. This decision will be made based on your specific situation, financially speaking.

Can you please help me with a loan? I want to settle few of my accounts

RCS can be the answer you are looking for as long as you can present all the documents they request to prove the requirements are met. Then, they’ll tell you if they can approve the loan amount you need to cover all your liabilities based, certainly, on the sum of money you earn per month and how much money you spend on your daily expenses.

How much will I pay? I am looking for 20 000 only

You can initiate your loan application at RCS web page and, wait to see what’s their response. But, there’s something you need to know. They will show you a loan option based on your affordability so, they won’t give monthly payments higher than what you can spend. Also, keep in mind, the number of installments goes from 12 to 60 and, clearly, this factor is decisive to know how much you should pay for the loan.

How can i get a loan?

There are many ways to obtain a loan at RCS: selecting online application in the company´s webpage, sending a message through the same media or phoning on 21 597 4000

Hi, I need one loan that can cover all my debts. I am permanently employed by roots butchery and am earning more than 2000 per month. Can RCS assist me?

We can see your salary meets the minimum requirements RCS demands for their applicants so, now you only need to check the rest. Although you can use the money RCS gives you to cover your debts, these are not consolidation loans, which might be more appropriate for you. Before making a decision, try to look for companies that will consolidate all your debts as, for instance, FNB, African Bank or Standard Bank. If you compare few options, you’ll get to the best loan term.

Hey can I get a loan form rcs? I need a car

RCS can lend you up to r250.000 so, if the vehicle’s value you want to get is covered in that quote, RCS can be a fine alternative. But you might find better options at banks that grant vehicle loans. Such loans are perfectly managed to make the purchase of a car much simpler. At the end, it’s up to you to decide on the best loan.

Hi, I need a loan for finishing my house for roofing, how long will I have to wait for RCS loan?

Once you decide the sum of money and terms for your loan, you need to get your documents ready to submit. After that, you can start with the loan request to make it go as faster as possible. The initial decision will be made by the bank in just seconds as, they check the basic requirements are met. Then, when RCS checks your affordability and approves your loan, they will last 2 days top to give you the money.

I'm a permanent employee and I'm the owner of a company. I request a loan of r50 000 on behalf of my company

If you want to take a loan from RCS, you have to do it on your own as, they demand pay slips to verify the applicant’s income. This means, RCS does not work with companies when it comes to loans. For such cases, you have to keep an eye on banks like Nedbank or FNB, just to name a few, which do work issuing loans to company on their business loans.

I want to pay all my other creditors and build a house for my mom

If the total amount of money you need is 250.000 rands or less, you can have RCS among your options. To start, check you meet the requirements and that you have all the documents to submit. Then, start your loan application to be one step closer to get the funds you need.

Where can I get a loan? I’m staying in tembisa

You can take advantage of the easiest method this company has to apply for their loans: that is, through their platform. In their web page, there’s a really short form to complete with basic personal details about you before starting the application. Another option is to reach RCS by the phone and discuss your loan alternatives with their agents. Both of these ways are really fast and practical.

Hello there I'm having rcs card, which documents can i bring to apply for a loan?

Whether you have a RCS card or not, the documents to get a loan from this company are the same. The first point is to prove your age and identity so, clearly, you need to take your ID. The second point is to prove you are paid for a job on regular basis so, make sure to keep the last pays lips you got form your employer. The third point is to check your total income and expenses so, you need to present bank statements from the last few months.

I want to know if RCS can consolidate Capitec, Old Mutual, Direct Axis and the University of Pretoria for me and then, I pay only RCS

Even though the RCS Group does not have Consolidation loans, they have Personal loans and, they can also be of great help for you. Supposing you qualify for the total amount you need to pay for all these different debts, you can take that money and cancel them all. After that, you’ll continue paying only one installment per month to RCS.

Can I take a loan if I have a monthly income of R2 500?

Yes, the minimum income acceptable is R2,000 per month. So you can apply now for the loan.

Can I apply for an RCS loan if I already have a RCS credit card?

As these are two different types of products this entity offers, you can always get both as, sure, you qualify for it. Because you already are an RCS client, they can have easy access to some of your information so, the answer you’ll get, may be even faster. Be aware of the fact that these products differ from one another so, they are processed separately.

I want the loan with rcs to pay off all my debts i`m owing. Then, I will face with only one institution which is rcs. Should I be assisted.?

Sure! RCS can be the financial support you need right now. Whenever the loan is aimed to pay for a specific purchase, RCS will make that payment on your behalf and, as months get by, you will cancel the instalments through your bank account. The other option is that RCS transfer the money to your account and, you take care of repaying all your debts.

Need a loan to buy a house

With RCS, you can aim to have 250.000 rands top. So, if you need to use the money to get a house, you must assure the amount is enough as, RCS doesn’t grant home loans. However, you have some other alternatives like, for instance, SA Home Loans, the First National Bank or BetterBond Home loans to get money to purchase a house.

Hi, I did the instant check and it said that I was pre-approved. How should I go on?

To get RCS pre approval is the first step to get the funds you are requesting. Now, RCS will contact you to get precise information about your credit history to get to the final decision. In this stage, they will find out if you can get the loan terms you stated on your application. Unfortunately, there’s a little chance of being rejected if, for example, your credit score is not high enough.

Can you help me to get the best loan?

Of course! I always recommend our readers to use our loan simulator to find out what are the banks offering the lowest rates in South Africa. Once you have that result, you can research about the companies you think best suit your budget to decide which of them has the loan product you are looking for.

I’d like to make loan to pay for some unexpected expenses for my wedding

Luckily, RCS can assist you on this as, they claim to grant the money in just few days. You will apply by giving them information about your job, age and address and, they will present you their loan offer. If you accept it, you will have fast access to the funds in just 2 business days or less.

I want to re apply for an RCS loan as I have 1 installment left. What do I do?

I want to start by telling you that this current loan you’re about to finish paying will affect your credit history. If you have been a responsible payer, the score will go up, of course. So, bearing in mind you are on your last installment. you might wait few months until that information is updated and, you will have higher chances of getting a lower cost. Then, you just have to contact RCS to go through a new loan application.

I want a loan to get a R300000 new car

I’m afraid, RCS is not a company managing that loan amount. If you can ask only R250.000 and, cover the remaining R50.000 with savings, you can be helped by RCS. Otherwise, you have no option but to look for another bank. In fact, you might check Nedbank or Standard Bank as, they both issue vehicle loans which will surely be more effective for you.

Hi, I am a retired male aged 66. I have investments in nedbank. I am not in any kind of debts. Its just that my money is tied up in an investment for five years. I need a loan of r120000. Is it possible for me as a retired person to get this loan? I can afford to pay the loan back

When a lending company analysis to lend money to an individual, they pay close attention to the financial ability of that person to give the money back plus the rates and fees they charge. As a result, the only way to get a loan with, in this case, RCS is by having documents to certify having a permanent income high enough to pay for the credit. If you can present it and, your credit history is excellent, you can apply at RCS to find out about your loan terms.

Does RCS have other consultants who are working under RCS ? when you apply for a loan must you first pay legal fee, insurance and SARS fees? Then you'll be able to get the loan you applied for?

You can be assisted by RCS consultants if you need it. When you apply for a loan, after being approved, you will have to pay a monthly service fee and a monthly installment. RCS is a credit financial provider and will charge you only the costs that stem from your owing the loan.

Hello i have been a client of RCS for the past 3 months, is it possible for me to get a loan in the near future without payslip?

When it comes to loans at RCS, it is important to comply with some requirements, such as having an ID of South Africa, being eighteen years old or older, earning R2000 per month as a minimum and holding a bank account. You should also provide the bank with proof of residence.

I wanted to know that is it true before you approve my personal loan I had to pay amount of r1000 into my account and it will be refunded once the loan is paid into my account?

That doesn't sound quite right. RCS offer loans of up to R250,000 and the qualifying criteria are that you are of legal age, that you have a bank account and that you earn over R2,000 a month. There is no such requirement about you paying R1000 into your account in order to get a loan with RCS.

I am being assisted just need clarity as the office is in Parktown, and they are asking for 3,200 rand insurance fee. Please assist if it's legit.

One of the conditions to apply for a loan with RCS is to pay a once-off initiation fee, whose amount will be established in the pre-agreement contract. You can choose to pay this fee with your first instalment. The recommendation is to speak with any advisor from the company to check if the amount of 3,2000 rand for the insurance is reasonable. 

I need to know if RCS loan is legitimate and safe to pay the upfront insurance fee of R3,200 in order to secure a loan, which they say will be granted within 30-45 minutes after receiving my initial payment for the insurance company cover.

RCS is a legitimate finance company which is regulated by the National Credit Act, which ensures that the entity provides clients with different types of loans. Usually, some companies, like RCS, asks clients to pay an upfront insurance fee. The amount of this fee will depend on the amount of money you wish to obtain. Once the application has been approved, the sum can be granted within 24 hours. 

Hey, I need to find out that I qualified for a loan of up to R10,000, then they requested me to pay R1750 for insurance, then R2600 as per the reserve bank request, and then R1990 for a cheque clearance. I have paid all the amount but did not receive any loan.

Unfortunately, you have paid a considerable amount of money to obtain a loan, which is not part of the official application process required by RCS. In other words, clients do not have to pay insurance plus reserve bank request and cheque clearance.  This company will only require a client to pay a once-off initiation fee, which will set in the pre-agreement contract. Then you will have to pay a service fee of around 69 rand. But the fees can be included in the monthly instalments.

Is there a thing as customer insurance that you must pay before collecting the loan amount?

The private company RCS offers clients the possibility to choose for a customer protection insurance (CPI). This insurance covers a portion of your outstanding balance in the case of death, disability (whether permanent or temporary) or loss of income. The value of this insurance will be included in the monthly instalment of your loan.

Does RCS require a legal fee upfront before payment is made to the customer?

For sure, it is established that RCS requires its clients to pay a once-off initiation fee, which set in the pre-agreement contract between the customer and the company. Usually, the amount to be paid is set in the agreement and the client can choose to pay the whole fee with the first monthly payment. 

Do I pay insurance money before I get the loan, after I've been approved?

Generally, the company RCS will ask its clients to pay a once-off initiation fee, which will be established in the terms and conditions signed between the applicant and the company. In this agreement, the amount to be paid will be established. Several factors will influence, like thee amount of the loan, your credit profile and the number of instalments, for example. The same will be applied in the case of an insurance fee.

Why is the online application for loans not working?

With RCS, there is an online form to be filled in with all your personal data. You will need to include your full name and surname, a valid ID number, email address, phone number, and finally an estimate of your salary. After accepting the terms and conditions, an advisor will contact you to continue the process. If the online application is not working, then you can contact the company by phone. 

Is there an RCS in Johannesburg? Do you have to pay an insurance fee? I paid an insurance fee of R1,800.

The main offices of RCS are located in Cape Town. Now, if you wish to apply for a loan, you can do it online. Usually, there is an insurance fee you have to pay. If you already paid 1,800 rand as a fee, make sure it is the amount established in the pre-agreement contract signed between you and the company.  

I just want to know why the RCS asks for an upfront fee.

It is legally known that RCS does not request upfront fees in order to apply for a loan. However, customers will need to pay a once-off initiation fee, which is established in the pre-agreement contract. The value of this fee will be set by both the company and the applicant.  

May I take out a loan of R67,000 if I still have an existing loan with RSC?

The private company RCS offers personal loans ranging from 2,000 to 250,000 rand with flexible repayment terms between 12 and 60 months. If you already have a loan of 67,000 rand, you will be able to apply for another one providing you have enough affordability assessment to pay the monthly instalments. 

Can I pay my loan more than my monthly instalment if I have money?

In order to know if you can pay your loan with the private company RCS with more extra money than your monthly instalment, you should check the terms and conditions stated in the loan agreement. In general, you can be allowed to do so with the purpose of reducing the outstanding balance and shortening the loan term. 

I did apply for a loan and I did get an SMS saying it is approved, but there is an upfront payment of R1,800.

You should be careful with this SMS, stating that you should pay an upfront fee of 1,800 rand to obtain a personal loan with RCS. Usually, legal and reliable private companies do not require clients to pay in advance in order to obtain money. Please, check the right steps for the application process with the company. 

I would like to know if I ask for a loan of R600,000.00, can I repay it for 6 years? For a monthly repayment of how much? Where can I send my application? What is the interest rate?

Unfortunately, you will not be able to obtain a personal loan of about 600,000 rand with the financial company RCS since the limit allowed for most of the clients is up to 250,000 rand. Also, the maximum time to repay a loan is up to 60 months, so you will bot be able to choose a 6-year repayment period. The suggestion is to borrow less money and pay it back in 60 months. The interest rate is about 29.25%.

Is there is any possibility you can pay the insurance money first before they can process your loan?

There is no need to have or to pay an insurance fee first in order to obtain a personal loan with the private company RCS. The only requirements to be eligible for a loan are the following: being over 18 years old, having a South African ID, earning a minimum of 2,000 rand per month, holding a bank account and providing proof of income. The insurance coverage will be deducted from your loan instalment. 

What would the repayment be for a loan of R60,000.00 over 60 months, and what must my income be?

According to the private financial company RCS, if you are interested in obtaining a personal loan of 60,000 rand with a repayment period of 60 months, then you will be paying 2,272.77 rand per month approximately. It is important to understand this is an estimate and that the company will offer the real value once you start the application process. As regards your income, you will have to earn a minimum of 5,000 rand. 

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