Merolex - Financing your future

Providing Exclusive Loans to Support and Empower Our Payroll Family


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About Us

  • Affordable Micro Loans accessible through your employer
  • Receive payment within 48 hours from application
  • Instalments deductible directly from your payslip.
  • IMPORTANT TO NOTE: All loans will be subject to approval as regulated by the National Credit Regulator
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How it works

NCR-Registered Credit Provider

Merolex is an NCR Registered credit provider, limited to short term loans of no longer than six months and no more than R8000 per loan.

Loans Secured Through Payrol

All loans are subject to affordability testing and credit checks and are secured against employee wages through managed centralized payroll systems.

Transparent, Regulated Fees

Our fees follow National Credit Regulator rules: up to 5% monthly interest, a R165 + 10% initiation fee (on amounts over R1 000), and a R60 monthly service fee.

Rates & Fees

  • Regulated and prescribed by the National Credit Act.
  • Regulated and prescribed by the National Credit Act.
  • Initiation Fee: As per NCR regulations, the fee is R165 per credit agreement, plus 10% of the amount of the agreement in excess of R1000.
  • Service Fee: As per NCR regulations, the monthly service fee is R60. The service fee covers the cost of administering a credit agreement.

 

How a typical loan is structured

Example 1: R2000 loan, weekly over 4 weeks Example 2: R2000 loan, monthly over 6 months
Loan amount R2000 Loan amount R2000
Once off initiation fee (R165 per credit agreement, plus 10% of the amount of the agreement in excess of R1000, but never to exceed 15%) R255 Once off initiation fee (R165 per credit agreement, plus 10% of the amount of the agreement in excess of R1000, but never to exceed 15%) R255
Interest (5% per month on first loan of the year, then 3% on subsequent loans in the year) R154.12 Interest (5% per month on first loan of the year, then 3% on subsequent loans in the year) R409.90
Weekly instalment x 4 R632.78 Monthly instalment x 6 R504.48
Total amount payable over 4 weeks R2531.12 Total amount payable over 6 months R3026.88

 

Please note: these are only approximate figures. All rates are calculated on a daily basis as stipulated by the National Credit Regulator. Please request a quote from us to determine the actual repayment amount and installment(s) should you wish to apply for a loan.

How a typical loan is structured

Example 1: R2000 loan, weekly over 4 weeks
Loan amount R2000
Once off initiation fee (R165 per credit agreement, plus 10% of the amount of the agreement in excess of R1000, but never to exceed 15%) R255
Interest (5% per month on first loan of the year, then 3% on subsequent loans in the year) R154.12
Weekly instalment x 4 R632.78
Total amount payable over 4 weeks R2531.12
Example 2: R2000 loan, monthly over 6 months
Loan amount R2000
Once off initiation fee (R165 per credit agreement, plus 10% of the amount of the agreement in excess of R1000, but never to exceed 15%) R255
Interest (5% per month on first loan of the year, then 3% on subsequent loans in the year) R409.90
Monthly instalment x 6 R504.48
Total amount payable over 6 months R3026.88

 

Please note: these are only approximate figures. All rates are calculated on a daily basis as stipulated by the National Credit Regulator. Please request a quote from us to determine the actual repayment amount and installment(s) should you wish to apply for a loan.

Contact Us

Location

Head office: 57 15th Street,
Menlo Park, Pretoria, 0081

Phone

(123) 456 7890

admin@merolex.co.za

Office Hours

Monday to Friday

9:00 am to 6:00 pm


Saturday

9:00 am to 12 noon


Closed on Sundays

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