Terms & Conditions

Welcome to EZ FUNDS. These Terms and Conditions ("Terms") govern your use of our loan application platform and services. By accessing or using our platform at ezfund.co.za, you agree to be bound by these Terms.

Please read these Terms carefully. The BOLD paragraphs contain important information that limits our liability or creates obligations for you.

• "Account" means the credit account created for your loan
• "Agreement" means the loan agreement between you and EZ Funds
• "Stored Card" means a bank card you have authorised us to save with our payment provider and charge for your repayment
• "Loan Amount" means the principal amount borrowed
• "Repayment Amount" means total amount payable including interest and fees
• "Personal Information" means personally identifiable information collected during the application process

3.1. By submitting an application, you confirm that:

• You have read and understood these Terms
• You are at least 18 years old
• You are a South African citizen or permanent resident
• All information provided is truthful and accurate

3.2. All information you provide must be complete and correct. You must immediately notify us if any information changes.

3.3. You consent to us reviewing the information you provide, including bank statements, to assess your application.

3.4. Your application is subject to our credit approval criteria. We are not obliged to accept your application.

4.1. Interest is calculated at a fixed rate of 30% on the loan amount for the loan period.

4.2. A R50.00 administration fee is charged per approved loan application.

4.3. The interest rate is fixed for the duration of your loan agreement.

4.4. All fees and charges are clearly shown during the application process before you accept the loan. The breakdown includes: loan amount, interest (30%), and admin fee (R50.00).

4.5. Loan amounts range from R100 to R1,500 for first-time applicants. Returning customers with a good payment history may qualify for higher amounts up to R8,000.

5.1. Repayment is due on your specified salary pay date (1st, 20th, 22nd, 25th, 27th, 30th, or 31st of the month).

5.2. Repayment is made through our payment provider, Paystack. You may pay by bank card, instant EFT, or Capitec Pay using the payment link on your dashboard.

5.3. If you choose to save your card, you authorise EZ FUNDS to store it securely with Paystack and to charge it once, for the repayment amount shown to you, on your due date. We never see or store your card number. You may withdraw this authorisation at any time before your due date by emailing docs@ezfund.co.za, and settle by another method instead.

5.4. Payments are allocated in the following order:

• Admin fees
• Unpaid interest
• Principal debt

5.5. If you withdraw your card authorisation, or the charge is declined, you must arrange alternative payment immediately. Failure to do so will result in your account going into arrears.

5.6. An invoice with a unique reference number (format: EZ-YYMM-XXXXX) and payment reference will be generated for each approved loan and emailed to you.

6.1. If your account goes into arrears:

• Additional fees and collection costs will apply
• Your account may be referred for collections
• Your account may be handed to debt collectors
• Legal action may be instituted

7.1. We respect your privacy and protect your personal information in accordance with the Protection of Personal Information Act (POPIA).

7.2. We collect personal information to:

• Process your loan application
• Verify your identity (ID document upload)
• Manage your loan account and payments
• Pay your loan out, and collect your repayment
• Send you notifications about your account (via email)
• Send one-time verification codes for secure login
• Comply with South African financial regulations

7.3. Sensitive data (ID numbers, phone numbers, bank account numbers) is encrypted using AES-256 encryption before being stored.

7.4. See our Privacy Policy for detailed information on how we process your data.

8.1. We may terminate this agreement immediately if:

• You fail to make payments
• You breach any term of this agreement
• You provide false information
• You are sequestrated

8.2. You may terminate by contacting us and settling your account in full.

9.1. Disputes should first be resolved through negotiation.

9.2. You have the right to contact our complaints department to resolve any issues.

10.1. These Terms are governed by South African law.

10.2. We may update these Terms from time to time. Continued use of our services constitutes acceptance of updated Terms.

10.3. If any provision is invalid, the remaining provisions remain in effect.

In terms of the Protection of Personal Information Act (POPIA), EZ FUNDS collects and stores the following personal information when you use our services:

Purpose: Your data is used solely for processing loan applications, managing repayments, verifying identity, preventing fraud, and communicating with you about your account.

Retention: We retain your data for as long as your account is active and for 5 years thereafter as required by South African financial regulations.

Your Rights: Under POPIA, you have the right to access, correct, or request deletion of your personal information. Contact our Information Officer at docs@ezfund.co.za.

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