P
General
Proof of Income
Lenders have to prove you can actually afford to pay them back — that's the law, the NCA says so. If you're employed, they want payslips. If you're self-employed or work cash-in-hand, they want bank statements showing consistent deposits. No proof of income, no loan, even if you beg.
Usage Examples
"Sibongile submitted three months of payslips plus a bank statement and got approved for R60,000 in 24 hours. Having everything in order sorted her completely."
"Tshego freelances and had to show 18 months of bank deposits to prove his income was stable. The whole process took three weeks because lenders are paranoid about self-employed folk."
"Zanele couldn't get a loan until she got a proper job. Running a spaza shop didn't count as proof of income in her bank's eyes, no matter how much money was flowing through her account."