5 Sep, 2019

Eligibility For Payday Loans In South Africa

Short term or payday loans are definitely extremely popular in South Africa and have been so since the past few years. Such loans are mostly done online and the amount that is borrowed through these loans ranges from R4, 000 (in the case of first time applicants) to R8, 000 (in case you have had a chance to take a short term loan before with the same provider of the loan). Each loan provider will have their own repayment period in place. However, in most of the cases, the repayment […]

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Short term or payday loans are definitely extremely popular in South Africa and have been so since the past few years. Such loans are mostly done online and the amount that is borrowed through these loans ranges from R4, 000 (in the case of first time applicants) to R8, 000 (in case you have had a chance to take a short term loan before with the same provider of the loan). Each loan provider will have their own repayment period in place. However, in most of the cases, the repayment period is usually less than 45 days and you cannot have your repayment date falling on a Sunday.

The general qualifying criteria for payday loans

  • You need to have permanent employment and along with a regular income
  • You should have a clean credit record
  • You need a valid ID book in South Africa
  • You need an active bank account in which your salary can be paid into
  • You need to have an active cell phone number
  • You will need a valid email address
  • You need to be a minimum of 18 years of age

The benefits of applying for payday loans

  • You do not have to worry much about having bad credit
  • You receive an immediate approval in almost all instances
  • There will not be any need of Faxing or paperwork
  • The entire process is fast and amazing
  • Your transactions is 100% Safe, Secure, and confidential
  • The application form is very small
  • You can apply inline freely
  • There is absolutely no obligation

Payday loans are your source for acquiring quick cash whenever you need it, and is an especially feasible option in emergency situations. In most of the cases, varying loan options will be provided to customers since the lending agencies understand that every individual will have differing financial requirements. The best part is that anyone can apply for this loan and without any hassle, provided they are a minimum of 18 years of age and meet all the other general qualifying criteria set by the lending agencies on South Africa.

Payday loans will make sure that no matter what your requirements are, you are able to fulfill them. These requirements could include handling bounced checks, bankruptcy, or any other credit issues. The cash received with applying for payday loans will provide you with a lump sum that you can then pay back by the end of the month along with the charged interest amount.

This means that you can rely on payday loans in South Africa to meet all your emergency needs in a timely manner.

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