Declaration and authorisation by applicant

I, the applicant, declare and agree that:

  • the information that I have provided for the application is correct;
  • I have seen the schedule of information in section A setting out the full details of everything I have to pay if the loan is granted and they are the same as those that I was shown before I signed the agreement;
  • I understand the terms of this agreement as explained to me in English;
  • I have read the agreement or it has been read to me;
  • where the instalments are deducted from my salary I acknowledge that I may not unilaterally cancel that deduction until the loan has been repaid in full.

I agree that by signing this I give Red Sphere permission to:

  • contact anyone to check that the information which I have given in Section A is correct;
  • obtain details from any party about my financial status and banking details including a credit record and payment history;
  • give information about this loan to any party, including the credit bureau;
  • assign its right title and interest herein to any party or entity nominated by Red Sphere Services.
  • where fraud is committed with this application to report the details thereof to the

Zimbabwe Police or similar organisation;

  • forward marketing material and offerings of other products of the Red Sphere

Services to me.


You apply for a loan by completing and signing this document. When Creative Credit approves the loan and pays it, this document becomes a binding agreement between Red Sphere and you. In the event that you don’t qualify for the loan amount applied for, you agree to accept any lesser amount that you may quality for.


After Red Sphere has approved the application for a loan, the loan will be paid into the account indicated by Section A Y. ou hereby agree that you cannot hold Red Sphere responsible for any damage or loss caused by Red Sphere transferring the loan into the account as indicated.


Interest charged on the loan will be at the fixed rate, calculated and capitalised over the repayment period.

Should you fail to make a payment on the due date or where Red Sphere grants you an extension for payment, the interest that accrues on the full outstanding amount will be capitalised monthly at the discretion of Red Sphere and interest will be charged on the total amount then outstanding at the fixed percentage as referred to in Section A.

Should it become necessary for the Lender to institute legal action for the recovery of any amount, Red Sphere shall be entitled to claim interest at the fixed percentage as agreed to in Section A Continued


No cancellation is allowed once SSB has approved deduction.


Insurance (Credit Life) covers instances of death and disability only.


This agreement will be the only agreement between you and Red Sphere and changes must be efficient in writing.


After the loan has been paid into Creative account you will according to this agreement owe Red Sphere the full contractual amount as set out in Section A. This must be repaid in equal instalments as shown. Repayments will be used firstly to pay legal costs (if any) and thereafter additional/penalty interest (if any), then the total cost of credit and lastly to reduce the balance of the outstanding amount originally advanced to you.


Further note that the ad min/origination fee is a non-refundable fee, and that it will not be discounted on the pro-rata basis at early settlement.


Red Sphere may immediately demand payment of the whole amount outstanding at any time if you: commit any breach of this agreement or commit an act of insolvency; die; made a false representation at the time of applying for the loan; or do anything that may prejudice Red Sphere rights in terms of the agreement; lose your employment where you have granted a loan where instalments are deducted from your salary. Red Sphere may deduct all amounts outstanding from the applicant’s Benefits at termination up to 30% of such benefits and/or any final monies outstanding to the applicants as agreed by the Employer but will not accelerate the loan repayments where the total amounts outstanding are secured by the aforesaid monies due to the applicant from the employer. By exercising its right to accelerate the repayment of the loan Red Sphere will not lose or be limited in any way from exercising any other rights that the law may give it.


Should the lender not take action against you when you fail to make a payment on a due dale or when you fail to do anything else required by this agreement, that does not mean that Red Sphere has given up its right to take legal action or to exercise any other right it may have.


You and Red Sphere agree that this agreement is subject to the jurisdiction of the laws in Zimbabwe.


All notices or letters that Red Sphere may want or have to send to you will be sent to your address as reflected in Section A of this agreement. These will be deemed received by you within 10 days after being sent by registered post. If you change your address, as stipulated in Section A, you have to inform Red Sphere in writing.