| Method | How it works | Action required |
|---|---|---|
| DebiCheck debit order | Automatic collection on due date | Ensure sufficient balance; none else |
| Manual EFT (if offered) | Self-initiated transfer to Creditza | Log into banking, initiate transfer using loan reference |
| Early settlement | Contact Creditza for a settlement quote | Request outstanding balance, pay the quoted amount |
For manual EFT or early settlement, contact Creditza at 021 054 1057 or info@centuryfinancialservices.net to confirm the correct bank account details and loan reference number.
Early Repayment / Early Settlement
Under NCA Section 125, you have the right to settle your Creditza loan balance in full at any time during the loan term. Century Financial Services may not charge any penalty or administration fee for early settlement. Interest is calculated only on the number of days you have held the outstanding principal — meaning early settlement reduces your total cost of credit.
How to settle early:
- Contact Creditza support (021 054 1057 or info@centuryfinancialservices.net) and request an early-settlement quotation.
- The settlement figure will include outstanding principal plus interest accrued to the settlement date, plus any outstanding fees.
- Transfer the quoted amount by EFT to Creditza's nominated bank account, using your loan agreement number as the payment reference.
- Request written confirmation of full settlement for your records.
What Happens if You Miss a Payment
If your bank account has insufficient funds on the DebiCheck collection date:
- Your bank may charge a returned-debit / dishonoured-payment fee (typically R100–R170 depending on your bank).
- Creditza may charge a default administration fee as permitted under the NCA.
- Interest continues to accrue on the outstanding balance at the agreed rate.
- A negative listing may be reported to credit bureaux if the arrears are not resolved promptly.
- Escalation — persistent non-payment may result in referral to a debt collection agency or legal proceedings.
If you anticipate difficulty making a payment, contact Creditza at the earliest opportunity at 021 054 1057 or info@centuryfinancialservices.net. Early communication gives you the best chance of reaching an arrangement before default consequences escalate.
Extension / Loan Rollover
The National Credit Act imposes restrictions on rolling over short-term loans in a manner that results in compounding debt. Whether Creditza offers a formal extension or rescheduling option is subject to affordability re-assessment. Contact Creditza support to discuss options if you are unable to meet your repayment date.
Best Practices for Smooth Repayment
- Set a calendar reminder for three days before your repayment date — this gives you time to ensure sufficient funds.
- Keep enough buffer in your account — allow for any bank charges in addition to the instalment amount.
- Do not cancel the DebiCheck mandate unless you have already settled in full — cancelling the mandate does not cancel your debt obligation.
- Request a settlement quote before paying — do not estimate the balance; always get a written figure from Creditza.
- Keep all repayment confirmation records — email or SMS confirmations from Creditza or your bank serve as proof of settlement.
FAQ — Repayment
Can I change my repayment date? Contact Creditza support at 021 054 1057 or info@centuryfinancialservices.net to discuss any rescheduling request. Changes are subject to Creditza's approval and an updated credit agreement.
Can I make a partial payment? Creditza's standard arrangement requires full instalment payment on the due date. Contact support to confirm whether partial payments are accepted in your specific circumstances.
Is there a penalty for paying early? No. NCA Section 125 prohibits early-settlement penalties. You only pay interest for the days you hold the outstanding balance.
What reference number do I use for an EFT repayment? Use your loan agreement number as the payment reference. Confirm the correct Creditza bank account details by contacting support before initiating any manual transfer.