Loan amountR 500 – R 7 000
Repayment termNext payday; less than 6 months
Interest rate5% per month3% monthly on additional loans in the same calendar year

What to know at a glance

Published short-term fee policy. The published borrowing range starts at R 500. Approval and your final terms depend on the lender’s assessment.

Fees and the full cost

The lending policy publishes initiation and monthly service charges plus VAT. Homepage fee wording is less explicit about VAT and differs on the initiation cap. Confirm the itemised VAT-inclusive charges and any loan insurance in the written quote.

Initiation fee
The lending policy states 16.5% of the first R1,000 of capital plus 10% of the amount above R1,000, plus VAT. Homepage wording also refers to R165 and a 15% cap; obtain the exact amount and cap in your quote rather than assuming those descriptions are interchangeable.
Monthly service fee
R60 per month plus VAT in the official lending policy. The homepage lists R60 per month without specifying VAT in that line. Confirm the VAT-inclusive charge in the loan quotation; these are not two separately payable service fees.
Credit life / protection
The current terms page links a PDF titled Credit Life Insurance Claim Form, under a Funeral Policy Claims heading. This is a claim form, not policy wording or a premium schedule. Mandatory cover, premium, calculation basis and replacement terms remain unconfirmed. The separate Turbosure funeral brochure does not establish credit-life terms. Ask for the policy and schedule applicable to your loan, if any.

Compare your total repayment as well as the monthly instalment. Ask for a written quote showing the exact rate, initiation fee, service fees and insurance applicable to you.

A detail worth checking

The site says repayment is due on the next payday and describes agreements shorter than six months, but exact minimum and maximum day counts or selectable monthly terms are not confirmed. This product is excluded when a specific repayment term is selected. The 3% rate depends on another loan in the same calendar year, not simply being a returning customer. Interest is not an all-in APR.

Before you apply

  • At least three months in your current job
  • Income, employment and credit assessment
  • Confirm the required identity, income and banking documents with MPOWA before applying

What happens next?

The button takes you to MPOWA Finance’s official product page. You decide whether to start an application there. The lender may request documents, obtain consent for credit checks and assess affordability.

Browsing Fairloan does not constitute an application. We do not collect your identity number, documents or contact details, and we cannot predict approval.

Sources and registration

Registration information published by the lender: NCRCP6666. This is not a live registry verification. Check the NCR register and confirm the legal entity before applying.