What is Mobicred?
Mobicred is a simple and convenient online credit facility that allows you to shop on takealot.com and repay the amount in monthly instalments. Interest is charged at 21% per year. Please note the annual interest rate may change.
As a revolving credit facility, Mobicred repayments are calculated as 10% of the account balance plus fees. These fees will be confirmed with you by Mobicred on opening your Mobicred account and could entail the following:
- Monthly service fee of R35.00 (ex VAT)
- Once off account initiation fee ranging from R100-R500 (ex VAT), depending on the facility granted.
Please note: The monthly payment amount displayed is indicative only and based on 12 monthly instalments excluding any Mobicred fees.