The National Credit Act

The National Credit Act (NCA) is the national credit law that came into effect on 1 June 2007. The intention of this law is to provide fundamental protection for consumers who apply for and/or are granted credit by any company or institution.

The NCA Will affect the following product lines:
  • Personal Loans
  • Overdraft Facilities
  • Vehicle Finance
  • Credit cards
  • Mortgage bonds
  • And such similar products.
All prior, effective date of 1 June 2007, credit agreements remain unchanged and subject to previous credit laws.

The National Credit Act aims to:
  • Promote a fair, competitive and sustainable credit market
  • Educate and help you to make informed choices
  • Enforce affordability checks and calculations in all cases
  • Protect you through the establishment of a national credit regulator, a consumer credit tribunal and a debt counselling process.
  • All responsible lenders welcome the NCA.
  • Click here to be linked to the NCA.
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