Terms & Conditions
Last Updated: November 2025
1. Introduction
These Terms and Conditions (“Terms”) govern the use of the Precision Loans website, services, and loan products offered by Precision Loans, a division of Precision Africa Group, a registered credit provider with the National Credit Regulator (NCR) in South Africa.
By applying for a loan, accessing our website, or engaging with our services, you agree to these Terms.
2. Eligibility
To qualify for a loan, you must:
Be 18 years or older and a South African citizen or permanent resident.
Be employed for at least three (3) consecutive months with a verified employer.
Provide valid supporting documents including a South African ID, latest payslip, and three (3) months bank statements.
Precision Loans reserves the right to verify all details and decline any application that does not meet our criteria.
3. Loan Terms
Loan Amount: Between R100 and R2,000, depending on affordability.
Interest Rate: Fixed at 40% per month, inclusive of service and initiation fees where applicable.
Repayment Period: 1 month (or as stated in your signed loan agreement).
Repayment Method: Automated debit order or authorized payroll deduction for missed or unpaid amounts.
All loan terms and repayment obligations are clearly outlined in your Loan Agreement, which must be signed before funds are disbursed.
4. Repayment and Deductions
By signing the salary deduction authorization waiver, you authorize Precision Loans and your employer to:
Deduct loan repayments directly from your salary if a debit order fails.
Deduct any outstanding balance from your final salary in the event of employment termination.
Failure to meet repayment obligations may affect your ability to qualify for future loans and could result in lawful collection processes.
5. Fees and Charges
All applicable fees, including interest and service fees, are fully disclosed prior to disbursement. Precision Loans does not charge hidden fees or penalties for early settlement.
Late payments may incur additional costs as permitted under the National Credit Act (NCA).
6. Communication and Consent
By engaging with Precision Loans, you consent to receive communication via email, WhatsApp, or SMS regarding your application, repayment status, or other service updates.
You may opt out of marketing messages at any time.
7. Data Protection
Precision Loans complies fully with the Protection of Personal Information Act (POPIA).
All personal data is securely stored and processed only for lawful purposes, including loan assessment, repayment management, and compliance reporting.
See our Privacy Policy for more details on how we handle personal information.
8. Default and Legal Action
If you default on your repayment obligations:
We may enforce the signed salary deduction authorization through your employer.
Persistent default may result in credit reporting and collection procedures under South African law.
Legal and administrative fees incurred during recovery may be added to your outstanding balance.
9. Website Use
All content on the Precision Loans website, including logos, designs, and text, is the property of Precision Africa Group.
You may not copy, reproduce, or distribute any materials without prior written consent.
10. Limitation of Liability
Precision Loans will not be held liable for any indirect, incidental, or consequential losses resulting from the use of our services, including delays in payment processing caused by third-party systems or employer payroll schedules.
11. Updates to Terms
We reserve the right to modify these Terms at any time. Updates will be published on our website and become effective immediately upon posting.
12. Contact Information
For any queries regarding these Terms, loan agreements, or repayments, please contact:
Precision Loans (Precision Africa Group)
Email: admin@precisionafricagroup.co.za
Phone / WhatsApp: 062 802 4357 | 072 688 7271
Address: South Africa