Payday Loan

Key Features

✅ Loan Amount: R500 – R8,000
✅ Term: 1 day – 30 days (aligned with pay cycles)
✅ Speed:

• Approval in 15 minutes (during business hours)

• Payout in under 1 hour to major SA banks
  ✅ Interest Rate: 7% (NCR-compliant cap)

Target Market

• Salaried Workers (R5k–R25k/month jobs)

• Gig Economy Earners (Uber drivers, freelancers)

• Social Grant Recipients (Temporary top-ups)

Strategic Positioning for Kamina

🔹 VS Loan Sharks:

• “Never borrow at 50%+ interest again”
  🔹 VS Banks:

• “No credit score shame – we help rebuild”
  🔹 Unique Offer:

• “Rollover Protection” – Max 2 renewals/year to prevent debt traps

Compliance & Risk Mitigation

⚠ NCR Must-Dos:

• Affordability checks (3x payslips/bank statements)

• Clear warnings: “R1,000 x 3 months = R1,157 total cost”
  ⚠ Kamina Safeguards:

• SMS reminders 3 days before deduction

• Free financial counseling after 2nd consecutive loan

Example Scenario

“Thando (security guard) borrowed R2,000 for school uniforms:

• Applied at 8AM → Approved by 8:17AM

• Money in FNB account by 8:45AM

• Repaid R2,100 on next payday (auto-debit)”

Conversion Tools

📌 Live Cost Calculator:

• “See exactly what you’ll repay before applying”