"I'm 67, I get the old-age grant and a small GEPF pension of about R4,200, my roof is leaking and I need R6,000. Will a proper lender talk to me?" Yes — being retired is not a decline reason. But the arithmetic on a fixed income is unforgiving, and a responsible lender will show you that rather than hide it.
What counts as income
- A private or employer pension (GEPF, a retirement annuity, a living annuity) paid into your bank account counts as verified income.
- A SASSA grant can be taken into account when assessing affordability, but it can never be used as security and no lender may take a deduction against it. Repayment must come from your ordinary bank account by debit order or EFT, like any other client.
- Rental income or a family member's contribution counts only if it shows on your statements as a regular deposit.
Credit life cover and age
Where credit life cover applies to a loan, you may bring your own existing policy instead of taking the one we offer (NCA s.106), and the pre-agreement statement discloses the cost before you sign anything.
What we will not do
We will not size a loan to your grant date, hold your SASSA card, or take a deduction at source. If a lender asks for any of those, walk away.
See what a fixed income supports
Choose "Pensioner" in the pre-check and enter your total monthly deposits. The result is indicative until a formal assessment is done.
Legal references
- National Credit Act 34 of 2005, section 81: Prevention of reckless credit — an affordability assessment is required before credit is granted.
- Social Assistance Act 13 of 2004, section 20: Social grants may not be attached, ceded, or used as security for a debt.
Thinking about credit?
Start with the facts. Check your eligibility and estimate repayments before you apply — no obligation.
This article is general financial education, not personal financial or legal advice. Credit approval remains subject to affordability assessment, verification, and the applicable Ndzinga Capital credit policy.