An upfront fee

Hi

I did app**** a loan with Rcs November 2023 and Rcs charged me front fees of R900.00 for loan application. No one explained to me about front fee of R900.00.

According National credit regulator( NCR)

consumers should not make any upfront payment to credit providers when applying for a loan. It is ******** for credit providers to charge consumers any upfront fees. An upfront fee is a payment that some credit providers charge consumers before granting them loans..