Top Tips: Key points to be aware of when applying for a loan

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Your Credit Record

Having a good credit record could mean the difference between getting a loan a person applies for or not. Lenders (Institutions like Absa, African Bank, Woolworths, FNB, etc.) place large emphasis on the borrower’s credit score and credit record. If you maintain a good record you will have no problem in accessing a loan.

What influence does your credit score have?

  • It could determine whether you obtain a loan or not.
  • It influences the interest rates the lender charges you. If you apply for a loan but your credit score is bad, it means you are a greater risk to the lender. This will result in the lender charging you higher interest on the loan.

You have the option to check your credit score through us. You are entitled to one free credit check per annum if you go through a credit bureau. However, if you check your credit score through Fincheck, we will pay for the credit score check.


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Fincheck is a financial comparisons website that organises information to assist the borrower in making their best financial decision.

Fincheck gathers information from numerous banking partners and presents it to the borrower in a simple, understandable way. Lenders benefit from an additional market place and extensive customer reach. Loan amounts vary from lender to lender. Fees, interest rates, loan amounts and credit scores influence the repayment terms. Lenders require personal details to control their risk and assist the government to combat theft, money laundering, terrorism. Fincheck does not endorse any particular product or company. We are an independent company. The information shown and provided is an opinion, based on numbers and must not be seen as advice or consultation.