National Credit Act, 2005 (Act No. 34 of 2005)RegulationsNational Credit Regulations, 2006Chapter 4 : Consumer Credit AgreementsPart B : Form of credit agreements36. Changes to interest |
A notice by the credit provider to the consumer of a change in a variable interest rate as contemplated in section 104(3)(a) of the Act, must also provide the following information:
| (a) | the date on which the change took effect, or will take effect; |
| (b) | total interest payable under the agreement in Rand value, if ascertainable; |
| (c) | monthly interest payable in Rand value, if ascertainable. |