Fair Loan

Fair Loan is a mobile lending platform provided by SNAP CREDIT (PTY) LTD, designed to help eligible South African users apply for personal loans through a simple, secure, and transparent process.

With Fair Loan, users can complete an online application, review available loan terms, and manage repayment information directly from their mobile device.

Why Choose Fair Loan?

• Simple Online Application
Complete your application in a few easy steps through a clear and user-friendly process.

• Transparent Loan Terms
The approved loan amount, repayment period, APR, interest, applicable fees, instalment amount, repayment dates, and total repayment amount will be clearly displayed before you accept any loan offer.

• Responsible Assessment
Every application is subject to identity verification, affordability assessment, repayment ability assessment, credit risk evaluation, and internal approval criteria.

Approval is not guaranteed.

• No Hidden Charges
Any applicable service fees, management fees, credit assessment fees, payment processing fees, collection-related fees, or other lawful charges will be disclosed before loan acceptance.

• Secure and Reliable
Fair Loan uses appropriate security measures to protect user information and support a safe borrowing experience.

Loan Information

• Loan Amount: R500 to R20,000
• Loan Term: 91 to 365 days
• Annual Percentage Rate (APR): 10% to 36% per annum
• Maximum APR: 36% per annum, including mandatory charges where required for APR calculation

The actual loan amount, loan term, APR, interest, fees, and repayment schedule will depend on the applicant’s information, identity verification, affordability assessment, repayment ability, credit risk profile, approved loan product, and applicable laws.


Representative Loan Example

The following example is provided for illustration only. Actual loan terms may vary depending on the approved loan product and the applicant’s assessment result.

Loan Amount: R2,000
Loan Term: 120 days
APR: 36% per annum
Calculation Method: Simple interest
Total Interest: R236.71
Total Repayment Amount: R2,236.71
Number of Instalments: 4
Estimated Instalment Amount: R559.18

Interest Calculation:

R2,000 × 36% × 120 ÷ 365 = R236.71

Total Repayment Calculation:

R2,000 + R236.71 = R2,236.71

This example does not include additional fees. Any applicable fees will be clearly disclosed in the App before the borrower accepts the loan.

How to Apply

1. Register using an active mobile number.
2. Complete the online loan application.
3. Provide the required personal, financial, and verification information.
4. Review and submit the application.
5. Wait for the application assessment result.
6. If approved, review the complete loan offer before accepting it.
7. After acceptance, the approved amount will be disbursed to the nominated bank account or another approved payment method.

Loan disbursement may be delayed or declined if identity verification fails, bank account information is incorr