Frequently asked questions

Simply fill in our online application form and submit it. One of our friendly Deposit4U agents will then contact you and conduct a simple screening process. We generally grant loans within [24 hours].

We do not charge any application fees. If you take up a loan, the repayments include the loan amount, administration fees and interest, which must be repaid over 12 months in equal installments. Administration fees include a once-off initiation fee and a monthly service fee.

You will know immediately after applying if you qualify for a loan and if you have provided all the requested information, we will inform you within one working day if your application is successful. Once the entry inspection is complete and you have submitted the signed lease, as well as all the other required documents to us, we pay the deposit to the landlord / agent within one working day.

Yes, you can settle the loan in a shorter period. A settlement figure will be calculated and communicated to you. We encourage shorter repayment terms, as this reduces the interest you paid on your loan.

Yes. Our repayments have an interest and a fees component. This means that a change in the interest rate change during your payment term will affect your monthly payments thereafter. This amount will be recalculated from the date of the interest rate change.

The fees remain constant during your payment term.

Unfortunately not. Paying via a debit order from your bank account ensures that we always receive the right amount of payment on the right day.

Tenants are protected by the law against unlawful evictions by landlords. Even if the landlord has acted unlawfully, you are still required to fulfil the obligations of our Lending Agreement and the monthly payments are to continue for the duration of the contract. Should a dispute with a landlord arise regarding your deposit, we can become involved.

Essentially you need to be earning a salary or another form of income. The following supporting documents are required:

• Lease Agreement
• ID document / card
• Proof of address
• Payslip
• Bank statements for the past three months

This is one of the ways in which we protect our clients. We keep a record of the state of the premises, based on the photos / video content taken during the entry (and exit) inspection. If the landlord wants to withhold your deposit on account of repairs or maintenance, we would be able to state whether the landlord is within his rights to do so.

When you originally take up the loan, we pay the full deposit rental to the landlord. He/she keeps the deposit until your lease ends and you move out. Provided that you have kept the property in good condition, and you do not owe the landlord rent, he/she is obliged to pay the deposit to you. If repairs need to be done, the costs of these will be deducted from the deposit and you get the balance. If the cost of the repairs exceeds the value of the deposit, you will forfeit your deposit and be required to pay the excess amount to the landlord.

The details of any interest payments on your deposit will be stipulated in the Lease Agreement that you enter into with the landlord.

Yes. If you can provide proof that you receive a regular income, we will consider the application.

If you change your mind within 24 hours about accepting the loan, no interest will be charged. If you cannot afford the monthly repayment at any other time, it is a good idea to seek debt counselling immediately.