P Financial Terms

POPIA

Legal

The Protection of Personal Information Act (Act 4 of 2013). South Africa's data protection law that governs how organisations collect, store, process,...

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Payday Loan

Loans

A short-term, high-interest loan typically due on your next payday, usually for small amounts up to R8,000. In South Africa, payday loans are regulate...

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Personal Loan

Loans

An unsecured loan granted to an individual based on their creditworthiness and income, without requiring collateral. In South Africa, personal loan am...

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Prescribed Debt

Legal

Debt that has become unenforceable because the creditor failed to take legal action within the statutory time limit (usually 3 years in South Africa)....

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Prime Lending Rate

Banking

The benchmark interest rate that South African banks use as a base for pricing loans. Set at a margin above the repo rate (currently repo + 3.5%), the...

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Principal Amount

Loans

The original amount of money borrowed, excluding interest and fees. When you make loan repayments, a portion goes toward interest and the remainder re...

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