FAQ – Dricks & Ach

What do I need to know to apply for a loan with Dricks & Ach Micro Finance?

You have to be a South African citizen or have a legal resident status in South Africa.
You need to be between the ages of 18 and 60 years.
You need to earn more than R3,000.00 per month.
You need to be permanently employed by the same company for at least 3 months.
Your salary must be paid into your bank account in your name.

What document do I need to apply for a loan with Dricks & Ach Micro Finance?

A valid ID document.

3 months latest pay slips.

3 months latest bank statements for the account into which your salary is paid.

Proof of residential address not older than 3 months.

Can I use electronic pay slips or bank statements?

For new clients, we need original documents. Electronic pay slips will have to be stamped with the company stamp and electronic bank statements stamped by the bank. We can accept electronic pay slips and bank statements for existing clients.

Can I use my bank statement as proof of residence?

Yes, as long as it reflects your name of initials, surname and full current residential address.

I have just started a new job. Can I apply for a loan with Dricks & Ach Micro Finance?

Unfortunately no. You need to have been employed by the same company for a continuous period of at least 3 months.

Can I apply for a loan with Dricks & Ach Micro Finance if I am blacklisted.

Yes, you can apply. Only when we do the credit check and affordability assessment can we determine if you qualify for a loan with us.

Would I qualify for a loan with Drick & Ach Micro Finance if I have judgements against me?

You will first need to apply. Only when we do the credit check and affordability assessment can we determine if you qualify for a loan with us.

What are Dricks & Ach Micro Finance interest rates?

Our interest rates are regulated by the National Credit Regulator (NCR). We offer one of the most competitive rates in the industry.

How soon do I get the money once I have been approved for a loan?

The money is paid into your account immediately after approval. Because we have accounts with most of the major banks in SA, the money is very likely to reflect in your account the same day. Under exceptional circumstances, it may be delayed as determined by your bank.

Can I take a loan if I already have another unpaid loan with Dricks & Ach Micro Finance?

Yes, you can apply for multiple loans up to the limit of your affordability as determined by your affordability assessment. Your loan limit is determined by your affordability and not the number of loans.

How can I get a “paid up” letter?

Contact your Dricks & Ach Micro Finance Branch and your request will be processed within a reasonable time.

How can I get a “settlement letter”?