These Loan Rules should be read together with the Loan Contract signed by a borrower when taking out a loan. “Borrower” means you, the individual borrowing money from Unifi, and “Unifi” means Unifi Credit Limited, registration number PVT-Y2ULRB86 also referred to as the “lender”.

By entering into a loan contract with Unifi, the borrower declares that:

Personal details provided are correct and may be verified by Unifi;

Repayment details in the loan schedule are the same as those explained prior to signing.

Loans from Unifi must be settled by the agreed date. Failure to settle loans shall lead to the following:

• Arrears interest charges
• Bank direct debits/payroll collections
• Delinquency listing on credit reference bureau
• Legal action
• Any fees arising from the above will be for the account of the borrower
• External agencies may be required to assist with the collection of the outstanding balance

Credit Reference Bureau

Unifi has the right to refer your credit information, whether positive or negative, to the Credit Reference Bureau. Unifi cannot be held responsible for any consequences that may arise from submitting borrower information to the Bureau.

Collections

The borrower gives Unifi the authority to withdraw from his/her bank account (or any other bank to which the borrower may transfer his/her account), all instalments due to Unifi on any loan granted to the borrower, or any amount that may be in  arrears in respect of such loans).

In the event of there being insufficient funds available when a deduction is requested from the borrower’s account, the borrower agrees that Unifi may collect the outstanding amounts in partial instalments. The borrower will be responsible for any bank charges caused by insufficient funds on bank direct debits. Should the borrower’s employment be terminated, the borrower authorises his/her employer to deduct the balance  outstanding and due to Unifi from his/her final salary payment, leave or bonus pay, and/or from pension or  provident benefits.

Rescheduling

If a loan is rescheduled due to over-commitment or a missed instalment payment, additional fees and interest shall apply.

Balance transfer, top-ups & loan increases

The borrower agrees that if any of the above actions above are done through any medium that all the loan conditions in this document will apply.

Changes in personal and employment details

It is the responsibility of the borrower to inform Unifi of any changes in personal details and employment details.  The loan balance will remain in place, regardless of any change to your employment status.