RCS loans and RCS Store card are products provided by the RCS Group. In addition to the loans and the Store Card, the RCS Group also provides RCS Insurance.
Before we take a detailed look at the 3 products from RCS lets discuss a few important details about the service provider.
RCS is a registered Credit and Financial Services Provider. This is always an important detail to know as all registered providers operate in line with the National Credit Act. This means their services can be trusted.
The core purpose of RCS is to improve people’s lifestyle by being innovative in offering desirable and accessible credit products. The idea is to enable RCS customers to enjoy the convenience, comfort and peace of mind offered by these credit solutions.
RCS Loans
Whether you’re looking for extra cash for car repairs, your studies or even a wedding, trust RCS to make it possible.
Loan Amount: A cash loan from R2 000 up to R250 000
Repayment Terms: Flexible repayment options; choose from 12 to 60 months
Interest Rate: From as low as 15% and will never exceed the maximum as prescribed by the NCA of 29.25%
Representative Example:
Loan Amount: R10 000
Loan Term: 24 months.
Annual Interest Rate: 29.25%.
Initiation fee (charged upfront): R1 207.
Monthly service fee: R69
Total Amount payable: R17 269-60
Monthly instalment amount: R720
To apply for an RCS Loan you must:
- Be 18 years or older
- Have a valid SA ID
- Be employed and earn R3 000 or more per month
- Have a bank account
- You will be required to provide proof of income documentation
RCS Store Card
Your RCS Store Card gives you access to cash from your card with up to 55 days interest-free.
Based on your individual circumstances, you may be granted credit ranging from R1 000 to R40 000.
Affordable monthly instalments, with flexible payment options: Revolving, 24 or 36 months budget plans (for purchases of R600 or more)
To determine whether or not you qualify for a Store Card, RCS will conduct a credit assessment to determine your credit score. Based on this information, RCS will determine whether they can grant you credit at this time.
Your card gives you access to South Africa’s biggest independent shopping network of over 26 000 stores. Accepted everywhere you see the RCS logo.
How much will you RCS Store Card cost you? Based on your individual assessment, you will be charged a monthly service fee for the management of your account and interest, in accordance with National Credit Act (NCA) regulations.
Please note that you will also be charged a once-off initiation fee. After that, you will be charged your monthly service, insurance premium, and interest if you have a balance outstanding.
Where can you use your RCS Store Card? The RCS network includes over 26 000 stores. You can use your card at Pick n Pay, PEP, Spar, Shoprite, Jet, Boxer and Checkers just to mention a few.
How can you check your balance? You can do this by any one of 3 ways. The first way is by logging onto the RCS Self Service portal and selecting “Available Credit”. The second way is dialling *120*727*card number*# (use your 19-digit card number) on your mobile phone, at a cost of 20c per enquiry. The third and last way is by checking your monthly statement.
How to Apply for The RCS Store Card
Where can you apply for an RCS Store Card? You can apply for an RCS Store Card at selected retailers nationwide or via the online application form.
How can you apply for the Store Card? To apply for an RCS Store Card you must be 18 years or older and have a valid South African ID. In addition, you must be employed and earn R1 000 or more per month. You will be required to provide proof of income documentation.
RCS Insurance
RCS Insurance currently includes Customer Protection Insurance and Accidental Death Cover, as well as Motor and Home Cover.
1 Customer Protection Insurance – is insurance cover that will, depending on your credit product, cover your outstanding balance (or a portion of the outstanding balance) in the event of death, permanent disability, temporary disability or loss of income for a nominal monthly premium.
2 Motor and Home Plan – covers your personal belongings against events like fire, theft and damage.
3 Funeral Plan – gives cover for natural death of up to R32 000 (6 months waiting period) and accidental death R64 000 with no waiting period.
4 Personal Accident Plan – gives accidental death cover of up to R75 000 and permanent disability due to an accident of up to R40 000.
5 Income Protection Plan – in the event of death, R5 000 per month for 6 months is paid to the Insured’s nominated beneficiary as a lumpsum
6 Critical illness Plan – in the event of a heart attack, stroke, cancer, coronary artery surgery, major organ transplant – R20 000 paid out upon diagnosis.
Conclusion on RCS Products
As you may have seen, getting RCS loans has multiple benefits. The best of all is that the application process is fast and paperless. You can get everything you need online.
When you apply for RCS loans and you application is approved you will have cash in your account within 24 hours.
The store card is a convenient to have and can be used over a network of 26 000 stores across the country.
Whether you are looking for a personal loan or some personal insurance we would definitely recommend that you give them a try.
RCS Contact Details
For more information on RCS loans, RCS Store Card and RCS Insurance, you can contact them directly using the details below.
Website: www.rcs.co.za
Telephone: 0861 729 727 / 0861 SAY RCS
Physical Address (Head Office):
Golf Park 6
Raapenberg Road
Mowbray, 7700, South Africa