I visited [URL Removed] after receiving an sms that i could qualify for a loan at 3.5% interest. I made an application via [Email Removed] for R60 000 and my application was approved, but i was supposed to pay R2640 to the company's attorney before the money could be transferred to my account.
I became suspicious because the repayment amount was R894 for 48 months, which does not add up to R60 000 (48 x 895 = 42 960)! So they got their mathematics all wrong (i'm an Actuary by the way)... so i knew something was fishy. Banks do not make this kind of mistake when it comes to money.
I asked for the company's NCR and registration numbers. They gave me the following numbers
Registration No:1965/006706/06
NCR No: NCRCP19
Upon cross checking with the NCR website, i discovered that these details actually belong to Mercantile Bank In Sandton, who are NOT even affiliated with Mercantile Finance.
I am convinced that Mercantile Finance is a.
the contact person at Mercantile Finance was Mr Fred Owen.
PLEASE BEWARE OF MERCANTILE FINANCE... FORE WARNED IS FORE ARMED.
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