FREQUENTLY ASKED QUESTIONS
FAQs
Most frequent questions and answers
Ans: Less than 24 hours
- Post dated cheques
- Bank/Mobile Money Transfer
- Via Reps
- Direct Debit
- Deposit to Elitesa Bank Account
Ans: A grace period of 2 days is allowed after the due date. When the period is exceeded, the customer will incur a late charge or penalties.
We shall take any legal action to recover outstanding debts and report delinquent borrowers to the appropriate authorities.
Ans: Yes, you can pay loans before the due time. When customers pay loan before the beginning of a new month, contract for the remaining months is cancelled.
Loan Requirements
•Identification Card (Drivers License, Passport, Voters ID, National ID)
•Proof of Business Existence / Employee Identification Card (The ID should have the customer’s photograph).
•Copies of pay slips and bank statement for 3 months prior to loan application.
•A passport size picture.
•A guarantor with either his/her payslip or bank statement for 3 months and a national ID.
•Postdated cheques.
•RECEIVING YOUR MONEY
We will pay the amount involved in twelve (12) hours once we have completed our assessment of your ability to repay.
EXTENSION REQUEST STAGE 3
•For stage 3 repayment agreement, you must pay the Installments to repay the total amount involved.
However, you can skip an Installment. We will treat the skipped Installment as a new request under stage 1 agreement.
EXTENSION REQUEST STAGE 1
•Rollover request must be made at least five (5) days before the due date.
•The outstanding debt of the old loan is rolled-over without the interest outstanding on it.
•When the amount involved is rolled-over (renewed), it is processed in a new version with the same contract reference number.
•Outstanding interest and an upfront rollover fee must be paid in full.
•The maximum number of rollover the system allows for the contract is three (3) times.
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