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Loans
Affordability Assessment
The NCA requires lenders to check whether you can actually afford to repay a loan before they hand over the moola. They look at your income, your existing debts, and how much you spend on living costs. Basically, they're trying to stop you from getting in over your head.
Usage Examples
"Bongani earned R25,000 gross per month with R8,000 in existing debt payments. Capitec ran an affordability assessment and said he could manage another R4,000 monthly repayment without trouble. Sorted."
"Lerato applied for a R60,000 loan from African Bank. The assessment showed her net income was only R18,000 after tax and deductions, and her rent alone was R12,000. They declined her — she was already stretched."
"Mpho tried three lenders in Joburg CBD. Absa, FNB, and TymeBank all did affordability assessments. Only TymeBank approved her because their algorithm considered her SASSA grant income. The others didn't."