Terms and Conditions

The use of the Loans Unlimited application form is subject to the Terms and Conditions set out below.

Please take a moment to read this important document.

 

1. Terms of Service

 

1.1. The terms of service mentioned hereunder shall apply should you (the applicant/client) enter into an agreement with Loans Unlimited & The Platinum Club, (hereafter referred to as “Loans Unlimited”, “The Platinum Club”, or “Loans Unlimited and the Platinum Club”), for the purchase of the Platinum Club Membership Package referred to in clause 3 below from Loans Unlimited and The Platinum Club.

1.2. Please take your (the applicant/clients’) time to read and thoroughly understand the terms of service herein of Loans Unlimited and The Platinum Club for the Platinum Club Membership Package. These terms of service apply to both the/this website (www.loansunlimited.co.za and www.platinumclub.co.za) and telephonic applications through the Loans Unlimited and The Platinum Club Customer Care Centre for the purchase of the Platinum Club Membership Package referred to in clause 3 below.

1.3. The user (the applicant/client) of the Loans Unlimited and Platinum Club website(s), admits and/or confirms that the applicant/client hereby irrevocably agrees to the policies and procedures of Loans Unlimited and The Platinum Club. This means that the applicant/client has taken the time to read, study and thoroughly understand these terms, Terms of Use, Legal Disclaimer and the Privacy Policy (herein collectively known as the “policies”) of Loans Unlimited and The Platinum Club and the/this website namely www.loansunlimited.co.za and www.platinumclub.co.za.

1.4. The policies are all accessible on the/this Loans Unlimited and The Platinum Club.

1.5. The policies will form part of your (the applicant’s/client’s) consent when submitting your (the applicant/clients’) application for Loans Unlimited and The Platinum Club’s Membership Package via the Loans Unlimited and The Platinum Club website and it shall constitute a digital signature (IP Address location, Date and Time of application submission) on your (the applicant/Clients’) digital legally binding and enforceable service mandate and agreement for the irrevocable acceptance of the policies of Loans Unlimited and The Platinum Club, between yourself (the applicant/client) and Loans Unlimited and The Platinum Club.

1.6. You (the applicant/client) hereby furthermore confirm that you (the applicant/client) have voluntarily submitted the application for the purchase of The Platinum Club’s Membership Package, under no force or duress and at your (the applicant/clients’) own free will. Please contact our offices at 021 286 0864 or email customercare@loansunlimited.co.za should you (the applicant/client) have any queries. Do not submit your (the applicant/client) application if you (the applicant/client) do not agree to or thoroughly understand Loans Unlimited and The Platinum Club’s policies and please leave the/this website immediately.

1.7. For the sake of convenience, when reference is made to “the agreement” and / or “an agreement” and / or “this agreement” etc., in these terms of service, it refers to the agreement between the applicant / client and Loans Unlimited and The Platinum Club for the purchase of The Platinum Club Membership Package referred to below.

2. Consumer Rights

2.1. Please note that Loans Unlimited and The Platinum Club fully subscribes to the consumer protection legislation in South Africa, more specifically the CONSUMER PROTECTION ACT 2008 and REGULATIONS of 2011 (the CPA).

2.2. All provisions in this agreement are in line with the CPA. However, should it be found that any provision of this agreement and the policies are not in line with the CPA, the relevant provision should be considered as not forming part of this agreement and the policies.

2.3. Our staff has been trained with regard to the CPA and such training shall always be refreshed should the need arise.

3. The Service / Product

3.1. The product offered is a 12 (twelve) month fixed-term agreement for the following service package (herein referred to as “Loans Unlimited and The Platinum Club Membership Package”):

3.1.1 A once off credit report summary which will help you determine your current financial position and how to improve your credit rating.

3.1.2 A weekly newsletter with information on various topics, which may include but not limited to, budgeting, finance, debt management, insurance and fiscal responsibility.

3.1.3 Access to the Platinum Club Members Portal, found on www.platinumclub.co.za, which includes articles and/or videos on budgeting, finance, insurance and other topics as well as links to our Endorsed Local Providers.

3.1.4 Access to our list of Endorsed Local Providers for insurance (life, household, car, legal, funeral, accident care), loans and debt counselling. All our Endorsed Local Providers are registered with the Financial Services Board and/or the National Credit Regulator in accordance with relevant legislation.

3.1.5 A complimentary loan finding service/facility, through the Loans Unlimited and The Platinum Club affiliated panel of registered financial services providers and I “the client” hereby mandate Loans Unlimited and The Platinum Club to submit such application. I “the client” hereby grant Loans Unlimited and the Platinum Club and its affiliates to conduct a credit check from any credit bureau or third party data base as reasonably required for the purposes of this application and products.

4. Duration

4.1. Loans Unlimited and The Platinum Club’s  Membership Package is a service for a fixed-term of 12 (twelve) months.

4.2. The 12 (twelve) month period commences from the date your service mandate and agreement has been entered into and expires 12 (twelve) months later.

5. Costs of Services

5.1. The costs of the Loans Unlimited and The Platinum Club Membership Package is as follows:
5.1.1. R397.00 (three hundred and ninety seven rand) for the first month subscription fee; and
5.1.2. R109.00 (one hundred and nine rand) per month for the remaining 11 (eleven) months.

6. Cooling off period – Direct Marketing

6.1. If the applicant/client has entered into this agreement not via an electronic transaction, and due to direct marketing, the applicant/client may cancel this agreement by notice to Loans Unlimited and The Platinum Club in writing, or another recorded manner and form, within five (5) business days after this agreement has been entered into. This cancellation will only be accepted by Loans Unlimited and The Platinum Club in a recordable manner (writing and/or telephonic) by e-mail: customercare@loansunlimited.co.za or by calling: 021 286 0864 within the prescribed period as aforementioned.

6.2. Loans Unlimited and The Platinum Club will then return any payment received from the applicant/client in terms of this agreement within fifteen (15) business days after receiving the aforementioned cancellation notice.

6.3. During the cooling off period, the applicant/client is to make use of the website namely https://www.loansunlimited.co.za to ensure that the applicant/client is happy with the services provided in terms of this agreement.

7. Cooling off period – Non Direct Marketing

7.1. If the applicant/client has entered into this agreement through an electronic transaction, the applicant/client may cancel this agreement within seven (7) business days after this agreement has been entered into. This cancellation will only be accepted by Loans Unlimited and The Platinum Club in a recordable manner (writing and/or telephonic) by e-mail: customercare@loansunlimited.co.za or by calling: 021 286 0864 within the prescribed period as aforementioned.

7.2. Loans Unlimited and The Platinum Club will then return any payment received from the applicant/client in terms of this agreement within 30 days after successful cancellation of this agreement.

7.3. During the cooling off period, the applicant/client is to make use of the website namely https://www.loansunlimited.co.za to ensure that the applicant/client is happy with the services provided in terms of this agreement.

8. Expiration

8.1. On the expiry of this agreement, it will automatically be renewed and continued on a month-to-month basis, subject to any material changes of which Loans Unlimited and The Platinum Club has given notice, as contemplated in the CPA, unless the applicant/client expressly—directs Loans Unlimited and The Platinum Club to terminate the agreement on the expiry date; or Agrees to a renewal of the agreement for a further fixed term.

8.2 The applicant / client may cancel this agreement as provided in the CPA upon the expiry of its fixed term, without penalty or charge, but the consumer remains liable to Loans Unlimited and The Platinum Club for any amounts owed to Loans Unlimited and The Platinum Club in terms of the applicant/clients’ agreement up to the date of successful cancellation by either the applicant/client or Loans Unlimited and The Platinum Club;

 

 

9. Early Termination by the applicant / client

9.1. Should the applicant/client wish to terminate this agreement before the termination date, the applicant/client may do so on 20 business days’ notice in writing or other recorded manner and form to Loans Unlimited and The Platinum Club and the applicant/client remains liable to Loans Unlimited and The Platinum Club for any amounts owed to Loans Unlimited and The Platinum Club in terms of these policies up to the date of successful cancellation by either the applicant/client or Loans Unlimited and The Platinum Club.

9.2. In the case of early termination of this agreement by the applicant/client or Loans Unlimited and The Platinum Club as aforesaid, Loans Unlimited and The Platinum Club shall impose a reasonable cancellation penalty as provided for in the CPA.

10. Breach of Agreement

10.1. Should the applicant / client be in breach of this agreement and/or the terms in the policies, and remain in breach and/or failed to rectify the breach after 20 business days has elapsed after Loans Unlimited and The Platinum Club has given written notice to the applicant/client for the failure to comply with the agreement, Loans Unlimited and The Platinum Club shall accordingly cancel this agreement.

10.2. Should Loans Unlimited and The Platinum Club terminate this agreement due to a breach on the part of the applicant/client, a notice stipulating same would be sent to the applicant/client.

10.3. The applicant/client shall remain liable to Loans Unlimited and The Platinum Club for any amounts owed to Loans Unlimited and The Platinum Club in terms of this agreement up to the date of successful cancellation, and Loans Unlimited and The Platinum Club shall impose a reasonable cancellation penalty as provided for in the CPA.

10.4. All legal fees associated with the collection of monies owing to Loans Unlimited and The Platinum Club in terms of these policies, being it for breach or otherwise shall be paid by, or be liable by the applicant/client on an attorney client scale.

10.5. The applicant/client shall be responsible for all failed debit order costs which currently amounts to R110.00 (one hundred and ten rand) per unsuccessful debit order from the applicant/client to Loans Unlimited and The Platinum Club.

11. Loan Finding Service

11.1. Loans Unlimited and The Platinum Club and its employees acts only on instructions / mandate given by the applicant/client to submit a loan application (the loan application form) on their behalf to various financial institutions. Loans Unlimited and The Platinum Club and its employees will send the loan referral application form to any of the registered financial institutions that they may see fit. A facsimile, digital and/or email copy of the “loan application form” constitutes the original.

11.2. The costs of the The Platinum Club Membership Package has no association with a/the loan and/or the loan finding service/facility whatsoever and the applicant/client irrevocably agrees that the Membership Package by Loans Unlimited and The Platinum Club is a MANDATORY purchase in order to receive their (the applicant/clients’) complimentary loan finding service/facility.

11.3. The loan finding service/facility is absolutely FREE! And its outcome is NOT GUARANTEED through our (Loans Unlimited and The Platinum Club) panel of financial services providers.

11.4. Any funds received by Loans Unlimited and The Platinum Club from its Financial Service Providers is income received as a cost of advertising and is not commission as it is NOT a broker.

11.5. Loans Unlimited and The Platinum Club’s employees DO NOT provide financial advice as all applicants/clients deal with the registered Financial Services Providers directly, we (Loans Unlimited and The Platinum Club) will forward all your (the applicant/clients’) requests and applications to qualified and registered financial service providers, who in turn, will correspond with the applicant/client directly.

11.6. The applicant/client agrees and understands that the Platinum Club Membership Package as per clause 3 hereof, the costs thereof has no association with a/the loan and/or the loan finding service/facility whatsoever and the applicant/client hereby irrevocably agrees that the Platinum Club Membership Package, offered by Loans Unlimited and The Platinum Club is a MANDATORY purchase in order to receive their (the applicant/clients’) complimentary loan finding service/facility.

12. General Information:

12.1. When applying telephonically, all applicants/clients are read a confirmation paragraph which explains and confirms all processes about to take place. This will confirm the applicant’s/client’s understanding of the policies and procedures of Loans Unlimited and The Platinum Club. If the applicant/client does not accept and/or agree to and/or understand the policies and procedures of Loans Unlimited and The Platinum Club, the applicant/client should not proceed with their application for our (Loans Unlimited and The Platinum Club) services. All calls are recorded, and the voice recording constitutes the applicant’s/client’s signature of irrevocable acceptance of the Loans Unlimited and The Platinum Club policies.

12.2. All applicants/clients whom apply on www.loansunlimited.co.za are required to “tick” a box after completing the online/electronic application, prior to submitting (Clicking the “SUBMIT” button) the/their online/electronic application which confirms that the applicant/client irrevocably agrees to the policies and procedures of Loans Unlimited and The Platinum Club, which the applicant/client has thoroughly read and understood. On the applicant/client submitting the online/electronic application to purchase The Platinum Club Membership Package via the Loans Unlimited and The Platinum Club website, a digital legally binding and enforceable service mandate and agreement is automatically generated by the website namely: www.loansunlimited.co.za, which shall include and constitute a “digital signature” (IP address location, Date and Time stamp of Submission) of the applicant/client, for the irrevocable acceptance of the Loans Unlimited and The Platinum Club policies (Terms of Service, Terms of Use, Legal Disclaimer and the Privacy Policy, herein collectively known as the “policies”) which the applicant/client confirms they have thoroughly read, understood and agreed to.

12.3. All documents and/or legally binding and enforceable service mandate and agreements are readily available to all our (Loans Unlimited and The Platinum Club) applicants/clients on written request. The written request can be sent to customercare@loansunlimited.co.za or the applicant/client may access the homepage of Loans Unlimited and The Platinum Club website.

13. Debit Order Mandate:

13.1. By submitting your (the applicant/clients) application for the Loans Unlimited and The Platinum Club Membership Package via the/this website, the applicant/client irrevocably agrees and understands that the Membership Package MUST be purchased in order to enjoy the loan seeking/finding service/facility.

13.2. By agreeing to the policies of Loans Unlimited and The Platinum Club, the applicant/client gives Loans Unlimited and The Platinum Club permission to debit the applicant / client and authorizes Loans Unlimited and The Platinum Club to debit any and all amounts due to Loans Unlimited and The Platinum Club from the applicant/client’s banking account as provided on their (the applicant/clients) online/electronic or telephonic application for the successful purchase of the Loans Unlimited and The Platinum Club convenient Service Package.

13.3. The applicant/client hereby irrevocably mandates, instructs, authorizes and consents to Loans Unlimited and The Platinum Club to setup a Naedo debit order on the applicant’s/client’s next salary date, post the date of the applicant’s/clients’ online/electronic application for the Loans Unlimited and The Platinum Club Membership package, using the banking details the applicant/client has provided (Online/Electronically or Telephonic) using a reputable debit order system provider namely SoftyComp, on Loans Unlimited and The Platinum Club’s behalf, for the Loans Unlimited and The Platinum Club Membership package, in the amount of R397.00 (three hundred and ninety seven rand) for the first month subscription fee in terms of this agreement and R109.00 (one hundred and nine rand) per month for the remaining 11 (eleven) months in terms of this agreement as clearly stipulated in clause 4 and clause 5 above. A Naedo tracker will be placed on the applicant’s/client’s account in the event there are “insufficient funds” in the applicant/clients banking account as provided. Furthermore, please be advised your (applicant/client) bank statement, shall reflect the name LOANSUL together with your (the applicant/client) reference number, to clearly identify the irrevocably agreed purchase transaction between yourself (the applicant/client) and Loans Unlimited and The Platinum Club in terms of this agreement. The applicant/client furthermore agrees that although this mandate, instruction, authority and/or consent to debit the applicant/clients’ account may be cancelled by the applicant/client, such cancellation will not cancel the/this agreement between the applicant/client and Loans Unlimited and The Platinum Club. The applicant/client also fully understands and agrees that the applicant/client cannot reclaim amounts which has been withdrawn from the applicant/clients’ account in terms of this mandate, instruction, authority and consent in terms of this agreement.

13.4 Additional Information

Abbreviated short name as registered with the acquiring bank: LOANSUNL

Reference: YOUR ID NUMBER

Start Date:

Action Date: on or about 26th of each month.

If however, the date of the payment instruction falls on a non-processing day (weekend or public holiday) the applicant/client agrees that the payment instruction may be debited against his/her account on the preceding business day; or subsequent payment instructions will continue to be delivered in terms of this authority until the obligations in terms of the Agreement have been paid or until this authority is cancelled by him/her by giving Loans Unlimited and The Platinum Club notice in terms of Clause 9.

The Applicant/Client acknowledges that all payment instructions issued by Loans Unlimited and The Platinum Club shall be treated by his/her abovementioned bank, as if the instructions had been issued by him/her personally.

The applicant/client acknowledges that this authority may be ceded or assigned to a third party if the Agreement is also ceded or assigned to that third party.

14. Use of applicant/client information:

14.1. Recorded Telephonic Application: All Loans Unlimited and The Platinum Club service consultants act on information provided by new applicants/clients who call 021 286 0864 and this data is entered and saved on to our encrypted Service Management System.

14.2. Online/Electronic Application: New applicants/clients apply on our (Loans Unlimited and The Platinum Club) website namely: www.loansunlimited.co.za and enter all their credentials voluntarily on the online/electronic application form with no force or duress and at their (the applicant/clients’) own free will.

14.3 All this information is stored and processed in order to process your (the applicant/client) application for your (the applicant/clients’) Membership Package that you have purchased with Loans Unlimited and The Platinum Club. Furthermore, the applicant’s/client’s information will get passed on to a third party for the use of the loan seeking service/facility.

15. Indemnification by Applicant/Client:

15.1 You (the applicant/client) agree to indemnify, defend, and hold harmless Loans Unlimited and The Platinum Club, the Loans Unlimited and The Platinum Club website namely www.loansunlimited.co.za, its investors, contractors, officers, directors, members, managers, partners, shareholders, licensors, suppliers, customers, employees, agents, third-party advertisers, technology providers and service providers from and against any loss, damage, cost, or liability (including, reasonable attorneys’ fees) resulting from or relating in any way to a third-party claim, demand, action or proceeding that arises out of this legally binding and enforceable service mandate and agreement or the Loans Unlimited and The Platinum Club website namely www.loansunlimited.co.za, including but not limited to in relation to: (a) your use, non-use or misuse of, or connection to the Loans Unlimited and The Platinum Club website, the Services and any Content (including without limitation your (the applicant/client) Content and any third party Content) forming part of the website. Loans Unlimited and The Platinum Club and its service provider(s) shall not in any circumstances, be liable to the applicant/client for any direct, indirect or consequential loss or damages including, without limitation, loss of business or profits save to the extent where direct loss or damage arises out of the willful misconduct or gross negligence by Loans Unlimited and The Platinum Club. For purposes of this Agreement, “willful misconduct or gross negligence” means any intentional material act or failure or failure to act which seriously and substantially deviates from a diligent course of action and which is in reckless disregard of or indifference to the harmful consequences. The applicant/client indemnifies Loans Unlimited and The Platinum Club and its service providers from and against any loss, damage, costs, expenses and liabilities which the applicant/client may suffer or incur as a result of or in connection with any claim or action by any third party arising out of the actions or omissions of Loans Unlimited and The Platinum Club and its service providers save to the extent that the legal action or claim arises out of fraud; or the willful misconduct or gross negligence by Loans Unlimited and The Platinum Club. The provisions of this clause will survive termination of this agreement.

16. Acceptance

16.1. All applicants/clients will receive a notification of acceptance of their application for the purchase of the Loans Unlimited and The Platinum Club’s Membership Package via email and/or sms.

16.2. However, once you have “ticked” the box prior to submitting your online/electronic application on the Loans Unlimited and The Platinum Club website namely www.loansunlimited.co.za, or instructing a telephonic agent to do so, these terms becomes binding upon you (the applicant/client).

 

Consumer Protection Act Notice:

 

As per the requirements of the Consumer Protection Act No. 68 of 2008, should you feel the need to lodge a complaint about the services we provide, kindly forward your complaint to customercare@loansunlimited.co.za.  We strive to resolve all complaints within 72 hours from date of receipt.