Fair Practice Code

LendBridge is committed to operating with honesty, integrity, and transparency in all dealings, treating all users fairly and without discrimination, providing clear, accurate, and accessible information, protecting user privacy and personal information, addressing complaints promptly and fairly, and promoting responsible lending and borrowing.

Transparent Advertising and Marketing

All advertising and promotional materials must be truthful, clear, and not misleading. Interest rates, fees, and charges must be clearly disclosed upfront. Marketing must not target vulnerable consumers inappropriately, and all claims about loan products must be substantiated and accurate.

Responsible Lending Practices

Lenders must conduct proper affordability assessments before approving loans. Loans must not be granted if repayment would cause undue financial hardship. Lenders must verify borrower income and expenses, disclose total cost of credit before loan acceptance, and must not engage in predatory lending practices.

Fair Treatment of Borrowers

Borrowers must be treated with dignity and respect at all times, with no discrimination based on race, gender, religion, nationality, or any protected characteristic. Loan terms must be explained clearly in plain language, borrowers must be given adequate time to review documents, and there must be no coercion, harassment, or undue pressure to accept loans.

Lenders must provide borrowers with the following information before loan disbursement: principal loan amount, interest rate (annual and monthly), all fees and charges (initiation fees, service fees, credit life insurance), NAMFISA levy amount, total cost of credit, monthly instalment amount, repayment due dates, penalties for late payment, and consequences of default.

When collecting overdue payments, lenders must communicate respectfully and professionally at all times, contact borrowers only during reasonable hours (8:00 AM to 8:00 PM), not use threatening, abusive, or harassing language, not contact borrowers at their workplace unless authorised, not disclose debt information to unauthorised third parties, consider reasonable requests for payment arrangements, and provide written notice before taking legal action.

As a borrower on the LendBridge platform, you have the right to receive clear and accurate information about loan products, be treated fairly and with respect, know the total cost of credit before accepting a loan, receive a copy of your loan agreement, access your account information and transaction history, request correction of incorrect information, lodge a complaint and receive a timely response, be protected from unfair collection practices, and have your personal information protected.

As a borrower, you have the responsibility to provide truthful and complete information in your application, borrow responsibly and within your means, read and understand loan terms before accepting, make repayments on time as agreed, notify the lender of any changes affecting your ability to repay, keep your contact information up to date, and seek assistance early if experiencing financial difficulty.

If you are experiencing financial difficulty and are unable to meet your repayment obligations, we encourage you to contact your lender immediately. Lenders on our platform are expected to consider reasonable requests for payment arrangements, including extended payment terms or reduced instalments, where circumstances warrant.

Early communication can help prevent the situation from worsening and may allow for alternative arrangements to be made.

LendBridge maintains a comprehensive complaints procedure. If you are dissatisfied with any aspect of our service or a lender's conduct, you have the right to lodge a complaint. Please refer to our Complaints Procedure for full details on how to submit and escalate complaints.

If your complaint is not resolved satisfactorily, you may escalate the matter to NAMFISA.

LendBridge regularly monitors lender compliance with this Fair Practice Code. Lenders who fail to comply may face sanctions including warnings, suspension, or removal from the platform. We are committed to maintaining a marketplace where fair practice is upheld by all participants.

For questions about this Fair Practice Code: