Mobicred is a simple and convenient online credit facility with repayments over 12 months.
How it works?
- You complete an online application form.
- Your credit application is processed by Mobicred.
- Once approved, you can register for a course and pay using the Mobicred payment option.
- South African ID number
- 18 years of age
- A minimum monthly salary of R5500
- A bank account in your own name
- The credit application can take up to 2 business days to process.
- The interest rate charged is 20.75% per annum & in accordance with the interest rate permissible by the National Credit Act.
- Approval is subject to Mobicred’s credit risk & affordability criteria, and in accordance with the National Credit Act responsible lending principles.
- The interest rate on your account is an annual variable rate linked to the Repo Rate and will change in accordance with changes made by the South African Reserve Bank.
- The credit facility incurs a once-off initiation fee & a monthly service fee.