Fees & charges
Every cost, in plain sight
26% interest, small government charges, and nothing else. This page lists every amount we can ever charge you.
The complete list
Applies to every loan, N$ 500 – N$ 10,000| # | Charge | What it is | Amount |
|---|---|---|---|
| 01 | Interest | Charged once on the amount you borrow — not every month. This is our only charge for the loan. | 26% of loan |
| 02 | Government charges | Stamp duty and the regulator levy. Set by law, collected by every registered lender and paid over in full. | Set by law |
| 03 | Initiation fee | Many lenders charge to set up a loan. We don't. | N$ 0.00 |
| 04 | Service or monthly fee | No monthly admin or account fee for the life of the loan. | N$ 0.00 |
| 05 | Early settlement | Pay off your loan early whenever you like. You pay only the charges that apply up to that date, worked out pro rata. | No penalty |
| 06 | Default interest | Only if an instalment is overdue. Charged on the overdue amount only, never on the full loan, and for no more than 3 months. | Up to 5%of the overdue amount |
| 07 | Duplicate statement | Only if you ask for a duplicate copy of a statement you have already received. | [AMOUNT] |
How your total is worked out
- The amount you borrow
- Loan
- + Interest, once-off
- 26%
- + Government charges
- Set by law
- = Total to repay
- Split over your term
Your total is divided evenly over 1, 2 or 3 months. Any rounding cent goes on the last instalment. By law, total finance charges on a payday loan may not exceed 30% of the amount borrowed; ours always stay below that limit.
Before you sign, you get a pre-agreement statement showing every amount for your loan. Nothing on your agreement can differ from it.
Examples
What a loan could cost you
Estimates for three common amounts.
Small loan
N$ 500.00
Under N$ 2,000, so it is repaid in one go
- Interest (26%, once-off)
- N$ 130.00
- Government charges*
- N$ 10.15
- Total to repay
- N$ 640.15
You repay once
Typical loan
N$ 2,000.00
Spread over three months
- Interest (26%, once-off)
- N$ 520.00
- Government charges*
- N$ 25.60
- Total to repay
- N$ 2,545.60
Monthly instalments
Larger loan
N$ 5,000.00
Same term, larger amount
- Interest (26%, once-off)
- N$ 1,300.00
- Government charges*
- N$ 56.50
- Total to repay
- N$ 6,356.50
Monthly instalments
*Estimates. Government charges are the NAMFISA levy and stamp duty, set by law. Every loan is subject to an affordability check, and your final figures are confirmed on your pre-agreement statement before you sign.
Your rights
Protections on every loan
These are part of every Dial-a-Bag agreement. You don't have to ask for them.
3-day cooling-off
Changed your mind? You can cancel the agreement within 3 days of signing.
Settle early, no penalty
Ask for a settlement quote any time. It shows exactly what you owe on that day.
Free signed copy
You get a signed copy of your agreement and pre-agreement statement at no cost.
Your ID, card and PIN stay yours
We never keep your ID document, your bank card or your PIN. Never.
If you fall behind
- We contact you first and look for a way forward with you.
- We give you 28 days' notice before reporting you to a credit bureau.
- We send written notice before any legal action or handover to collections.
Struggling to pay? Call us before payday.
It is always easier to fix early. Contact us
Have a complaint about a charge?
Tell us first and we answer in writing within 10 working days. If you're still not satisfied, NAMFISA can help.