EC Loans and subsidiaries are sketchy at best

Even though it is written in their terms and conditions when applying for the Loan, ethics in this company don't feature, very clearly.

R199 to do a credit check? I could've saved them the hassle and, myself the money, and given it to them. I made my fair share of applications to loan companies and not once have i been charged for just simply applying for the loan. This is especially irritating when they only give me the option of an amount of money, payable over 0 Months - yes, zero months, at almost 50% interest.

On top of this theres a R79 yearly fee for what is going to probably be a copy and paster letter on how to maintain good credit.

Something else thats fishy is that EC Loans says that they source the loans from a list of service providers, but they're all just entities of EC Loans.

I say this because the company i was eventually approached by was called Money Wave Group and just going to their 1 page website, i was greeted with the same contact details as EC, as well as all my correspondence with EC loans having the same competition banner as the ones on on the money wave emails.

To my knowledge, theres nothing wrong with doing this, its just why trust a company that says its "searching" for the best deal, when its coming from the same place you contacted. A benefit i could see with this, is if they get flack for something going wrong for an individual loan then they can just blame the company.