RCS is a South African consumer finance business that offers its customers a wide range of shopping benefits and credit through its retail shopping network that has over 26 000 stores across South Africa, Botswana and Namibia.
Their credit services provide their customers with the convenience of having quick access to finance, with the RCS Cards providing convenient payment facilities while RCS Loans offering their customers with credit of up to R250 000.
RCS whole existence is aimed at improving their customers lifestyles while protecting their financial security, giving them convenience and comfort through their solutions.
RCS Personal Loans
RCS offers its customers a line of credit that ranges from R2 000 to a maximum of R250 000 through a fast and paperless application process.
Whats unique about these credit solutions is how quick you can get a response from their consultants when you lodge in your application, with a decision usually taking a matter of a few seconds.
When you qualify you will be able to access up to R250 000 in cash paid out into your bank account within 24 hours, while getting flexible repayment terms that range between 12 to 60 months.
Qualifying Criteria
To qualify for RCS Personal Loans you will have to meet some of their qualifying requirements which include:
1. You must be 18 years or older in age
2. You must possess a valid South African Identity Document
3. You must be employed permanently with a minimum income of R2 000 per month
4. You must have an active bank account which supports debit orders
5. You must provide your latest proof of income such as your latest pay slip
Annual Interest Rates and Associated Fees
RCS does not charge interest rate that exceeds the prescribed maximum of 24.5% that is set by the National Credit Regulator.
Interest starts from 15% but what you will be charged will depended primarily on your personal credit profile and affordability.
Representative Example
If you take a loan of R7 500 borrowed over 24 months, RCS charges an Annual Interest Rate of 24.5% you will pay a monthly installments of R542.
There is an Initiation fee of R1 207 which is charged once off and a monthly service fee of R69.
Total amount that you will pay back will be R13 005.72.
Installment Repayments
When your loan is approved and paid into your bank account RCS will deduct your monthly installments from your bank account directly through a debit order, starting from the date you chose during your application process.
Should you find yourself unable to pay your monthly installment for whatever reason you can get in touch with RCS on 0861 172 9727 and they will help you find a solution that caters for your situation.
RCS Card
The RCS Card opens up a world full of opportunities for you as a card holder, giving you access to South Africa’s biggest shopping network that has over 26 000 stores nationwide.
To date RCS has over 1 million active cardholders who use their cards at various retail stores.
These cards give you access to cash ranging from R1 000 to R40 000, online shopping at selected RCS retail partner stores, up to 55 days interest-free, and as much as 36 months repayment terms.
You can use your RCS Card at stores that include @home, Adidas, Aldo, American Swiss, Autozone, Bata, Glasfit, Appliance Direct, Cape Union Mart, Old Khaki, Verimark, Supa Quick just to mention a few.
RCS Card Repayments
You can pay for your RCS Card through various options that include through the RCS App, EFT Payments, Direct Deposits, In-store Payments and through Debit Orders.
RCS Card Balance
To check your RCS Card balance simply login to the Self Service portal and ch
RCS Insurance
RCS offers a Customer Protection Insurance for the loan or card products which will cover any outstanding balances that you may still owe, either on your personal loan or card.
This Insurance can be used in the event of you encountering an unfortunate situation that prevents you from continuing with your installments and these can include death, permanent or temporary disability, loss of income due to retrenchment and so on.
RCS Contact Details
Customer Care: 0861 172 9727
Postal Address: PO Box 111 Goodwood 7459
Physical Address: Liberty Grande Building, Voottrekker Rd & Jakes Gerwel Drive, Townsend Estate, Cape Town
Web: www.rcs.co.za
NB: Visit our loan calculator page
