FAQ
Q?How does Imali Cash Loans work?
A.Imali Cash Loans provides small and super-flexible loans. We’re here to help solve urgent and short term cash flow problems. We’re faster and more convenient than other online lenders because there’s no paper work, faxing or sitting on hold on the phone – the entire service is online. It’s straightforward to submit an application and, if approved, you’ll get the money in your bank account in a flash.
Imali Cash Loans cash advances are for up to a 30 days. You decide how much cash you need and how many days you want it for. We calculate the cost upfront and you commit to repay it on the date you select. On the morning of that day we take a single payment from your bank account, after which you’ll be welcome to apply again whenever you need cash.
Q?What do I need to get a Imali Cash Loan?
A.You need to be over 18, living in South Africa and have an active SA bank account, plus your own email address and cell phone. You also need to be able to repay us on the date you promise to, so please don’t use Imali Cash Loans if you have any concerns about your ability to do that. Finally, we include a credit check as part of our sophisticated instant decision system, as we’re only interested in lending to people whom we believe can repay a cash advance without undue financial stress.
Q?How much cash can I borrow?
A.You can request anything between R300 and R1500.
Q?How much does a Imali loan cost?
A.Simply select how much you’d like to borrow and the date to pay us back and we’ll calculate exactly how much the full repayment will be before you apply.
We also have a R57 per month service fee as well as an initiation fee that helps cover the cost of our super-fast cash deposit system – the quickest on the web! Again, this is included in the total cost you’ll be shown up-front. Fees include 14% VAT.
Q?Does Imali require a credit check?
A.Yes, we carry out a credit check as part of our automated decision making process. We have one of the most advanced reference checking systems in SA, because we’re only interested in lending to people who we believe can afford to repay us without undue financial stress.
We sometimes find first-time applicants suffer from anxiety about their credit history when they actually have nothing to fear! Remember our policies are very different to those of other lenders and banks, who are looking to predict your financial reliability over several years. So don’t get hung up about your credit score – it could be one of the deciding factors in our decision, but we also place emphasis on honesty and trust.
To give yourself the best chance of acceptance, make sure you give us as much information as possible – and that it’s accurate – during your online application. If you’re an existing customer you can keep your details up to date in My Account. If we can’t provide you with a loan at any time we’ll always try to give you a reason for the decision, plus any actions you can take where possible.
Q?What if I have bad credit?
A.Imali uses a sophisticated and fully automated credit check as part of our decision making process, so if you’ve got a very poor credit record it may affect our decision. But it doesn’t automatically rule you out and we also place emphasis on lots of other factors as well as honesty and trust. You should therefore ensure you give us as much personal information as possible during your application – and that it’s accurate.
Please note that our service isn’t designed to help you repay or manage existing debt, so please don’t apply for a loan unless you’re sure you will be able to comfortably repay it on your chosen date.
Q?What personal information does Imali need?
A.We need to know personal details like your name, address, phone numbers and income. Plus your bank account details. We need this info so we can be sure who’s applying, to check if Imali is a suitable solution for you and as part of our payment and collections process.
To give yourself the best chance of approval, you should always ensure the information you give us is accurate and honest. For full details about the collection of, and potential uses of your personal details you can read our Privacy Policy.
Q?What happens if I don’t repay my loan?
A.We make every effort to avoid that situation and the vast majority of customers repay our trust in them. So we hope it never comes to this, but here’s a straightforward explanation of what could happen if you don’t repay a cash advance as promised.
If our early morning collection attempt is declined by your bank – because you haven’t ensured there are enough funds available – we will do our best to contact you throughout the day. Your bank may charge you a penalty fee for not having the funds available. We always hope to resolve the situation that day but, if we still haven’t received full repayment by 5pm on the due date, your bank could charge you again for another failed debit attempt. We will then make further attempts to collect the money from your bank account and also keep trying to contact you to discuss the situation with you as soon as possible.
Your account will be handled by our professional collections team. They will do their best to come to an arrangement with you and help you resolve things, which is always our goal. Interest charges will continue to accrue on your balance for up to 90 days, if we can’t reach a fair agreement in the meantime. If you don’t work with us and we can’t recover the money over a reasonable period, your account may be passed to an external collections partner.
Continued failure to repay a loan will mean we may be forced to take legal action against you. In addition the credit bureaux will record the outstanding debt. This information may be supplied to other organisations to perform similar checks and to trace your whereabouts and recover debts that you owe. Records remain on file for a number of years after they are closed, whether settled by you or defaulted.