PERSONAL LOANS
Up to R150 000 as a cash loan
Personal Loans When You Need Them Most
Life happens, and sometimes you need quick access to cash to cover planned expenses or unexpected costs. Whether it’s for home improvements, education fees, medical bills, consolidating debt, or any other personal need, a Personal Loan can provide the financial flexibility you require. As an online loan comparison Broker, we connect you with NCR licensed Direct Lenders in South Africa to help you find a Personal Loan solution designed to help you access the funds you need with a clear repayment plan, allowing you to manage your finances effectively and achieve your goals. Our service is FREE and comes with no obligation.
Flexible Use of Funds
Use the loan amount for almost any personal need, without strict limitations.
Fixed Monthly Repayments
Benefit from predictable monthly instalments that remain constant for the duration of the loan term.
Range of Loan Amounts
Access a range of loan values to suit different financial requirements.
Flexible Terms
Choose a repayment period that works for you, typically ranging from 3 to 60 months.
No Security Needed
These are typically unsecured loans, meaning you don’t need to provide an asset as collateral.
Who It’s For
Our Personal Loan is designed for individuals residing in South Africa who require access to a lump sum of money for various personal reasons. If you are looking to fund significant purchases, cover unexpected expenses, manage existing debt more effectively through consolidation, or invest in personal growth like education or home improvements, and you have a regular income, a Personal Loan could be a suitable financial tool for you.
Benefits
- It provides quick access to cash when you need it, much faster than some other forms of finance.
- The flexible nature means you can use the funds for virtually any purpose you choose.
- With fixed monthly repayments, budgeting becomes easier, allowing for better financial planning and stability.
- It can also be a valuable tool for debt consolidation, potentially simplifying your financial obligations and reducing the total interest paid over time by combining multiple debts into a single, manageable loan.
What You’ll Need To Apply
To apply for a Personal Loan, you will typically need to meet certain basic criteria.
- You must be a South African citizen or permanent resident and be at least 18 years old.
- You will need to demonstrate that you receive a regular monthly income, meeting a minimum income threshold.
- A good credit history is generally required, as your creditworthiness and affordability will be assessed as part of the application process.
Cost Breakdown
The specific costs and terms of your Personal Loan will be determined by the Direct Lender based on your individual credit profile and personal circumstances.
- Typical Loan Repayment Terms range from 3 to 60 months.
- Interest Rates vary based on your credit profile and risk assessment, with rates charged by our loan panel starting as low as 20% APR.
- Some Direct Lenders may include an Initiation Fee in your loan amount. It is important to note that this fee is added to your loan amount and never required upfront before you receive your loan.
Representative Example:
If you borrow R10,000 over 12 months at a fixed rate of 29% per annum, with an admin fee of R58.50 per month plus an initiation fee of R1,169, the charges would amount to a representative rate of 68% APR. The total amount repayable on your loan would be R14,771.
This example is illustrative; your actual rate and fees will be determined by the Direct Lender you are approved by.
Frequently Asked Questions
How much can I borrow with a personal loan?
The amount you can borrow depends on your affordability, credit profile, and the specific lender’s criteria. Our network offers access to a range of loan values. The maximum amount is generally R150 000.
How long does it take to repay my personal loan?
Typical repayment terms offered by the lenders in our network range from 3 to 60 months. You can choose a term that best suits your budget.
How is the interest rate determined?
The interest rate on your Personal Loan is a fixed rate determined by the Direct Lender based on their assessment of your individual credit profile and personal circumstances. Rates charged by lenders in our network start from 20% APR.
Are there any upfront fees?
Our service as a broker is completely FREE, with no obligation. The Direct Lender may include an Initiation Fee in your loan amount upon approval, but you will never be asked to pay any fees upfront before receiving your loan.
How long does it take to get a personal loan?
Once your application is approved by a Direct Lender and you accept their offer, the funds are usually disbursed directly into your bank account relatively quickly, often within 24-48 hours, though this can vary by lender.
Will a credit check be done?
Yes, the Direct Lenders we work with will conduct a credit check as part of their assessment process to determine your creditworthiness and affordability.
Are you a direct lender?
No, we are an online loan comparison Broker. We work with a network of NCR licensed Direct Lenders in South Africa and connect you with potential loan offers based on your application.
APPLY FOR A PERSONAL LOAN
This form applies to the following bridging loan categories:
Personal Loans
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