National Credit Act, 2005 (Act No. 34 of 2005)RegulationsNational Credit Regulations, 2006Chapter 5 : Interest and FeesPart B : General Stipulations41. Dates upon which fees become due and payable |
| (1) | Initiation fees may be levied on the date stipulated in the agreement, but not earlier than the date of approval of the credit application; |
| (2) | Monthly service fees may be levied at the end of the month to which they relate; |
| (3) | Annual service fees may be levied at the earlier of— |
| (a) | the end of the year to which such fees relate, or an annual date specified in the credit agreement, or |
| (b) | the termination of the agreement; |
| (4) | Transaction based service fees may be levied at the end of the month in which the transaction occurred; |
| (5) | In (2), (3) and (4) above, the respective fees may be added to the deferred amount at a different day than the last day of the month, provided that this day is no earlier than the day upon which interest is added to the deferred amount, as per regulation 40 above. |