Received an e-mail regarding a loan. After you reply they send you the following e-mail :
Dear Please see attachment for your loan Approval, repayment schedule letter and Loan Terms and condition in respect of your application of a personal loan of R8500.00 You are requested to read through and communicate us on your acceptance of the Loan Terms and Conditions. Kindly contact the undersign for guidance to complete your loan process. Your swift response is requested to enable us complete your Approved Loan sum Transfer. Congratulations on your loan application approval. Regards. Wonga Management.There is also an attachment with the following :
LOAN APPLICATION APPROVAL AND REPAYMENT SCHEDULE.
With reference to your Loan application requesting for a Loan Amount of R8,500.00
I am pleased to communicate the approval of a Personal loan of R8,500.00 for 2 years at 3.5% per
annul to you by the management of Wonga Finance Loans.
Below is the Loan Repayment schedule for the Loan amount.
LOAN TERMS AND REPAYMENT SCHEDULE
Loan Balance: R8,500.00
Loan Classification: Wonga Finance Loans Personal Loan
Loan Interest Rate: 3.5%
Loan Term: 2 years
Monthly Loan Payment: R 367.22
Number of Payments: 24
Cumulative Payments: R 8,813.36
Total Interest Paid: R 313.36
Note: The monthly loan payment was calculated at 23 payments of R367.22 plus a final
payment of R367.30.
Congratulations once again.
Mr. James Meyer
Verification / Approval Unit Sign:…...……..
LOAN TERM AND CONDITIONS
1. Loan Contract / Administration Fee: Your loan has been approved; this is in accordance with the
financial monetary policy regulations. And an administration fee will be paid by the borrower to our
company's Attorney which will be used to acquire legal contract document (Loan contract between
borrower and Wonga Financial Loan to back up your loan. The loan administration fee stands at the
rate of R1,840.00 for a loan of R8,500.00
2. Loan Transfer Option: Bank To Bank Transfer, The loan will be transferred to you via this option
and you will be required to send to us your personal bank information were you want your approved
loan fund to be deposited into.
3. Monthly Repayment: On getting the loan, you will start the repayment of the loan on the 1st of
every month starting beginning 30days after approved loan amount has been transferred to the
beneficiary's account with the monthly payment as stated above. We usually give 7 day GRACE
PERIOD to all applicants before a case of Re-payment default is instituted.
4. Time of duration: You will pay back at the rate of interest within the stipulated time (2 years) as
stated in the terms above after cashing the loan with 24 Hours after due process to this effect, Failure
for you to adhere to the agreement you will be given additional 3 months of grace before legal actions
can be taken.
NOTE: We do not deduct the loan administration fee from Principal Loan amount as this is against
our working policy, because our company attorney must prepare and sign the loan agreement
between the borrower and Wonga Financial Loans, before approved loan funds can be disbursed to
Clients whose loans are approved. So do not ask for any deduction please as our response may offend
you, and we would provide to you the loan agreement after the attorney has concluded with it.
We are looking forward to doing and completing this transaction with you in good faith.
Urgently Required Information:
Copy of Identification………………………Received
Bank Details for Cash Transfer…………Please resend for confirmation
Administrative Fees…………………………To be paid to the Attorney if you have accepted our Loan T & C
If you agree to our company's loan conditions mentioned above, contact us immediately with the
above urgently required information to complete your loan process.
Mr. James Meyer
Verification / Approval Unit
Wonga Finance SA(Pty) Company No.2010015269/07. A Registered Credit Provider NCRCP5033
298, Moore Street Cnr Valley Road, East London, 5201 South Africa
Tel: +27 (0743828847  Fax: +27 0867184055  Email: Wongcashloansservice@consultant.com
Directors: G Q Routledge (Chairman)  B. W. Reekie (Managing)  A.D.T. Enthoven  P.R. Gwangwa
I. B. Hume  J. W. F Pretouois  G. J. Soll  B. A Stott (Executives)
W. Van Zyl (Company Secretary) G. O Simpson (Authorized Compliance Officer)
This is a scam, Wonga operates only online through their website.
|Crime Date/Time:||1 Aug 2014, 00:08 AM|
|Reported Date:||4 Aug 2014, 11:08 AM|