How do I extend my loan

What does this mean?
R
Written by Rue
Updated 5 months ago

You have the option to extend your loan until your next salary date.

This option is available to all PrimeLoans customers. The extension can be requested up to 3 days before your due date. Please note that the extension cannot be processed within two days of your due date, as there wouldn’t be enough time to cancel the existing debit order mandate.


How to complete the extension?

  1. An sms will be sent to the phone number you have registered with PrimeLoans advising of the available option to extend your loan until your next salary date.
  2. Make sure to use the link sent by us to complete the extension alternatively logon to your profile on our website and make a payment on the extension option.
  3. A small payment will be required which covers the interest and fees to extend to your next salary date.
  4. Once payment is made, a new loan agreement is sent to you which you need to sign.
  5. Once the loan agreement is signed a new debicheck will be sent to you which you need to authorize to cancel the old debicheck otherwise the debit will go off on the normal debit date as per the first debicheck mandate.
  6. Extension is then active and visible on your PrimeLoans profile.

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