If you are looking for a financial help, knowing three loan providers in South Africa to get quick cash from will be helpful.
In today’s fast paced, consumer driven world, the ‘essentials’ for living happily and successfully include owning vehicles, homes and other big, expensive assets. Most people require loans to purchase these items. If you are starting your own business, looking to buy a home or vehicle, or if you are finding it hard to keep up with your living expenses you will probably need to borrow money.
The majority of people in the world are in debt and will be for several years to come. It is nearly impossible for most of us to keep up our standard of living without debt, and as frightening and dangerous as debt can be, we need it.
Requirements for getting a loan
All financial service providers in South Africa offer loans. However, there are requirements for taking out one. The two base requirements are:
- The financial service provider will want to see that you have a steady, reliable income that will cover all of your essential living costs as well as your monthly loan repayments.
- The financial service provider will also want to see that you have a good credit record where you have paid back your previous loans and accounts fully and in time.
Looking out for loan shark agencies
There are some financial service providers who will loan you money even if you are not a good candidate for a loan. Some will even loan you money if you are blacklisted. These financial service providers are known of as ‘loan shark agencies’ and will generally charge high amounts of interest that compound over a short amount of time bringing your interest rate over 1 000 percent in some cases. Most people cannot make these sorts of payments and they end up in trouble.
It is therefore important to choose a reputable financial service provider and to understand all the terms and conditions of taking out a loan before you sign anything.
Three financial providers in South Africa to get a quick loan from
Most of the well known, reputable financial service providers in the country (like First National Bank, Standard Bank, Wesbank, Nedbank and more) will only accept the applications of good loan candidates and the process might take anything from a few days to a week or two. This is obviously the responsible way to go, but if you are looking for a very quick loan, the following three financial service providers might be able to help you.
- Cash Loans South Africa
Cash Loans South Africa offer online personal loans as well as many other financial services including credit cards, affordable insurance and consolidation loans. There are a range of different credit options to choose from and you can qualify for a loan if you are a South African citizen and if you are officially employed. You can apply online making this process quick, efficient and easy.
Boodle is an online financial service provider offering super quick loans. You can apply in a quick, three step process through their website and, as a first time customer, you can borrow up to R2 500. There are options for higher loans as well. The entire process can take as little as two minutes.
- One Stop Financial Solutions
One Stop Financial Solutions quick loans and facilitates unsecured loan applications. You can apply online and you will be assigned a member of staff that you can deal with every time to make the process easier and more convenient. There will be no broker fee payments at One Stop Financial Solutions and their turnaround time is lightning fast. They welcome blacklisted individuals for their micro loan category (from R500 to R15 000) and have a personal loan category of between R500 and R150 000.