Magnet Access Plus allows qualifying customers to purchase selected products through a salary-based installment facility.

Eligibility

  • Subject to affordability assessment and approval.
  • Applicants may be approved for a lower amount than originally requested.
  • Approval is at the discretion of the finance provider.

Repayments

  • Monthly repayments will be made according to the approved repayment schedule.
  • Where applicable, repayments may be deducted directly from salary through approved payroll arrangements.
  • Customers remain responsible for ensuring repayments are made on time.

Interest, Fees & Charges

  • Interest and fees are disclosed before acceptance of the facility.
  • Loan establishment and administration fees may apply and are mentioned before hand.
  • Early settlement does not automatically qualify for a refund of administration or origination fees.

Insurance

  • Loan protection cover may be included, covering events such as death, involuntary termination of employment, or permanent disability, subject to the lender’s policy terms.

Cooling-Off Period

  • A cooling-off period may apply in accordance with the lender’s policy and applicable regulations.

Customer Responsibilities

Customers must:

  • Provide accurate and complete information during the application process.
  • Notify the finance provider of any significant change in circumstances that may affect repayment.
  • Inform the finance provider of any changes to personal, employment, banking, or contact details.

Default

  • Failure to make repayments when due may result in additional charges, penalties, collection procedures, or acceleration of the outstanding balance in accordance with the loan agreement.

Product Returns

  • Approval of financing does not alter Magnet’s standard warranty, returns, or exchange policies.
  • Any product return requests remain subject to Magnet’s published policies.

Important Notice

Magnet Access Plus financing is provided and administered by Kredibility Finance Private Limited. All financing applications are subject to Kredibility’s assessment, approval criteria, and full loan terms and conditions (click here).