Teengo Microloans – Terms & Conditions
Last updated: 02 September 2026
These terms and conditions ("Terms") govern your loan application with Teengo Microloans ("we", "us", "our"). By submitting an application you confirm that you have read, understood and agree to be bound by these Terms. Please read them carefully.
1. Eligibility
To apply you must be at least 18 years of age, be a South African citizen or permanent resident, hold a valid South African identity document, and earn a regular income into a South African bank account in your name.
2. Application and affordability
All applications are subject to assessment and approval. As a responsible lender registered under the National Credit Act 34 of 2005 (NCA), we are required to conduct affordability and credit checks. Submitting an application does not guarantee that credit will be granted, and we may decline any application at our discretion.
3. Accuracy of information
You warrant that all information and documents you provide are true, complete and accurate. Providing false or misleading information may result in your application being declined and may constitute an offence. You undertake to notify us of any material change to your circumstances.
4. Credit and affordability checks
You authorise us to request and share information with registered credit bureaux and to verify your income, expenses and employment for the purposes of assessing your application and managing your account. The outcome of these checks may affect whether, and on what terms, credit is offered.
5. Loan offer, interest and fees
If your application is approved, you will receive a pre-agreement statement and quotation setting out the loan amount, repayment term, interest rate, initiation fee, monthly service fee and total amount repayable. All interest and fees will be levied within the limits prescribed by the NCA. The loan only becomes binding once a credit agreement is concluded.
6. Repayments
You agree to repay the loan in the instalments and on the dates set out in your credit agreement, typically by debit order on or after your payday. If a payment is missed or returned unpaid, additional interest, default administration charges and collection costs may be added to your account as permitted by law.
7. Early settlement
You may settle your loan early at any time by paying the outstanding balance together with any interest and fees accrued up to the settlement date, without penalty.
8. Protection of personal information
We process your personal information in accordance with the Protection of Personal Information Act 4 of 2013 (POPIA) and our Privacy Policy. Your information is used to assess and administer your loan, comply with legal obligations and prevent fraud, and is not sold to third parties.
9. Cooling-off and cancellation
Where the law provides a right to cancel a credit agreement within a cooling-off period, you may do so by notifying us in writing and repaying any amounts advanced together with applicable interest and fees.
10. Default and consequences
If you fail to meet your obligations under the credit agreement, we may take steps permitted by the NCA, including reporting the default to credit bureaux and instituting recovery proceedings. This may negatively affect your credit record and your ability to obtain credit in future.
11. Complaints and disputes
Should you have a complaint, please contact us so that we can resolve it. If we are unable to resolve your complaint to your satisfaction, you may refer the matter to the National Credit Regulator or the relevant ombud.
12. Changes to these Terms
We may update these Terms from time to time. The version in effect at the time you submit your application applies to that application. Continued use of our services indicates acceptance of the current Terms.
These Terms are provided for general information and do not replace the specific credit agreement and pre-agreement statement you will receive if your application is approved. In the event of any conflict, the signed credit agreement prevails.