Credit

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Mbabane Branch

Physical Address
1st House
Betfusile Street
Mbabane

Postal Address
PO Box 1337
Mbabane
Swaziland

Telephone Number: +268 2404 1961/5
Fax Number: +268 2404 4535
Branch 6-Digit Code: 280164

Corporate Place Branch

Physical Address
Corporate Place
2nd Floor
Swazi Plaza

Postal Address
PO Box 261
Eveni
H103

Telephone Number: +268 2404 3431
Fax Number: +268 2404 3121
Branch 6-Digit Code: 281264

The Gables Agency

Physical Address
Gables Shopping Complex
Shop No 3
Ezulwini

Postal Address
PO Box 308
Matsapha
Swaziland

Telephone Number: +268 2416 2777
Fax Number: +268 2416 2804
Branch 6-Digit Code: 281064

Matsapha Branch

Physical Address
Lot 171
1st Avenue
Matsapha

Postal Address
PO Box 308
King Mswati III Avenue
Matsapha

Telephone Number: +268 2518 7570/5
Fax Number: +268 2518 7805
Branch 6-Digit Code: 281064

Mahhala Agency

Physical Address
Lot 445
Matsamo Shopping Complex
Matsapha

Postal Address
PO Box 308
Matsapha
Swaziland

Telephone Number: +268 2518 7611
Fax Number: +268 2518 7525
Branch 6-Digit Code: 281064

Manzini Branch

Physical Address
Makabongwe House
Nkoseluhlaza Street
Manzini

Postal Address
PO Box 645
Manzini
Swaziland

Telephone Number: +268 2505 3181/5
Fax Number: +268 2505 3188
Branch 6-Digit Code: 282064

Bhunu Mall Agency

Physical Address
Bhunu Mall Shopping Complex
Shop No U16
Ngwane Street
Manzini

Postal Address
PO Box 645
Manzini
Swaziland

Telephone Number: +268 2505 7950/1
Fax Number: +268 2505 7972
Branch 6-Digit Code: 282064

Big Bend Branch

Physical Address
Shop No 1
Matata Shopping Complex
Big Bend

Postal Address
PO Box 2
Matata
Swaziland

Telephone Number: +268 2364 6000/5
Fax Number: +268 2364 6006
Branch 6-Digit Code: 286064

Nhlangano Agency

Physical Address
Plot 239/240
4th Street
Nhlangano

Postal Address
Private Bag 5
Nhlangano
Swaziland

Telephone Number: +268 2207 9321
Fax Number: +268 2207 9327
Branch 6-Digit Code: 282164

Pigg's Peak Branch

Physical Address
15 Mambo House
Evelyn Baring Street
Piggs Peak

Postal Address
PO Box 464
Piggs Peak
Swaziland

Telephone Number: +268 2437 1900/3
Fax Number: +268 2437 1894
Branch 6-Digit Code: 282364

Siteki Branch

Physical Address
Plot 127
Jacaranda Avenue
Siteki

Postal Address
PO Box 602
Siteki
Swaziland

Telephone Number: +268 2343 4393
Fax Number: +268 2343 4416
Branch 6-Digit Code: 286064

Simunye Branch

Physical Address
Simunye Plaza
Shop No 38B
Simunye

Postal Address
PO Box 357
Simunye
Swaziland

Fraud + Disputes

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News + insights

News

Understanding
instalments

Instalments refer to a set amount you pay for an item over an agreed period. Often, we are attracted by special offers and low monthly instalments that look like very good deals. But 'low' instalments can be deceiving.

It is important to look at the total cost you will pay by adding up the monthly instalments over the payment period. You may find you will pay way more than the cash price. Always check before agreeing to the instalments and where possible, save up and buy the item in cash.

Remember: Check if you are being charged for extras such as delivery, credit life insurance, etc. You have a choice not to take up insurance if you do not want it.

Understanding
wants & needs

Bad credit

Borrowing for wants - e.g. new outfit for an event when you have clothes you can wear.
Borrowing for consumables - e.g. borrowing to buy groceries, airtime, etc. If you constantly need to borrow money before month end, you may need to adjust your budget and cut out some expenses.

Good credit

Borrowing to buy assets that grow in value over time, e.g. a house.
Borrowing for personal growth for you or a family member, e.g. student loan.

Understanding interest

There are two types of interest: interest earned (on savings and investments) and interest charged (on loans).

Interest earned

This type of interest is a way to grow your money and is a reward from the bank for saving your money with them. It's extra money you earn for saving your money with a bank or an investment/savings institution.

Interest charged

This is the type of interest charged by a credit provider to lend you money. It's the cost of credit and is usually calculated as a percentage of the amount that you borrow.

Compound interest (earned)

When interest is calculated on the original investment and interest earned, so you earn interest on your interest, helping your money grow quicker.

Compound interest (charged)

When interest is calculated on the original amount borrowed invested plus any interest charged in previous months or years so you are charged interest on your interest, meaning your debt grows over time.

Where to borrow money

Legal protection

There is no shame is asking for help to manage your debt. It is better to get help than to drown in debt.

Advantages

The right to apply for credit or a loan.

Not be unfairly discriminated against when applying for credit or a loan.

Read a credit agreement in plain language.

Have a copy of the credit agreement BEFORE taking the loan.

Privacy regarding your personal information.

Complain if you think you have been treated unfairly.

Check your credit profile once a year. You can do this for free once a year with a credit bureau. You can find a list of credit bureaux that will give you a free annual credit check on www.cba.co.za. This website gives contact details for all the credit bureaux that are members of the Credit Bureau Association.

Ask for help from a debt counsellor to assist with restructuring your debt.

Know why a loan application has been rejected.

Your rights as it relates to credit is protected under the National Credit Act and the National Credit Regulator can assist customers to get help when their rights have been violated. If you have a concern or a problem about the way you have been treated in accessing credit, contact the NCR. Their telephone number is 0860 627 627 and their website address is www.nca.co.za

Office of the Banking Adjudicator

Physical address:
Plot 184 Ist Floor,
Tlale House Main Mall , Opposite BEDIA.

Postal address:
Office of the Banking Adjudicator
Private Bag 00404
Gaborone

Tel: (0267) 3935409
Fax: (0267)3935406

Email: bankadjud@info.bw
Website: www.banking-adjudicator.org.bw

Credit report

Credit bureaux keep credit related information of all credit-active consumers, this information is compiled on a credit report or credit profile. Credit grantors submit payment information to the credit bureaux on how well you are repaying your loans. The information submitted is both positive and negative information. The purpose of a credit report is to allow credit grantors to determine if you are eligible for credit, by assessing the amount of credit you already have and also looking at how well you repay existing loans. It is a risk for companies to give you a loan, therefore they must ensure that you can repay it.

You can get a free copy of your credit report once a year directly from the credit bureaux:

Compuscan

Call Centre on 0861 514 131
Online at www.mycreditcheck.co.za

Consumer Profile Bureau

Experian

Call Centre on 0861 105 665
Online at www.creditexpert.co.za

TransUnion

Plot 115 Unit 21 Kgale Mews, Gaborone, Botswana
Private Bag 305, Gaborone, Botswana
Email: vgaleromeloe@transunion.co.za
Web: http://www.transunion.co.za
Phone: 0267 390 3535
Fax: 0267 318 1124

XDS

Call Centre on 0860 937 000
Online at www.credit4life.co.za

Over-indebtedness

You are over-indebted if you are failing to meet your debt repayments and constantly need to borrow to support your monthly expenses.

What can I do if I am over-indebted?

a) The first step is to write a list of all the people and businesses that you owe money to.

b) Contact your creditors and explain your situation.

c) When creditors write to you, take their letters seriously and respond.

d) Do not promise to make payments if you cannot afford them. Rather explain the situation and look at making smaller payments over a longer period.

e) Avoid taking more loans to pay the debt you already have

f) Change your lifestyle, cut down on things like entertainment, alcohol, cigarettes, gambling, etc.

g) If you drive an expensive car, consider downgrading to a more affordable car or sell your car and use public transport.

h) Avoid buying groceries on credit.

i) Consult a debt counsellor. Call the National Credit Regulator (0860 627 627) and they will refer you to a debt counsellor near you.

Debt counselling

There is no shame is asking for help to manage your debt. It is better to get help than to drown in debt.

Advantages

When you are under debt counselling, creditors may not take more action against you.

There is no permanent record of having undergone debt counselling.

There is only one monthly repayment to be made.

Your budget will meet your basic needs (housing, transport, food) first before making provision for your debts.

You will never pay more money than you can reasonably afford.

A debt counsellor will suggest ways of cutting costs and saving money.

You will no longer get calls from your creditors demanding payment. This will lessen your stress and allow you to focus on fixing the problem of getting out of debt.

Disadvantages

You are not allowed to have more credit while undergoing debt counselling.

It does cost a little bit of money, payable to the debt counsellor. These fees are regulated and set by law.

Your debts will take longer to pay off because of paying smaller amounts each month.