PowerLoans

PowerLoans

About PowerLoans

PowerLoans, or Power Financial Services, is one of the top payday loan providers functioning in South Africa. They kindly provide their clients with the utmost flexibility and there is an array of different types of payday loans offered by PowerLoans, and in particular, clients are able to customize their loan plan to fit their individual needs.

Each user can customize their request precisely how much he wants to borrow to meet his needs and also the time of loan refundment. PowerLoans is sure to give each customer a cut-to-fit package according to their needs and demands.

AmountPeriodWhat you’ll need
Up to R 8000 for new customers180 days1. Your latest payslip,
2. 3 months bank statements,
3. A copy of your ID,
4. Bank account details,
5. Most recent proof of
income
Power Loans — with Payday Loans

The loan application procedure has been simplified to make sure that each applicant is able to submit their details quickly and seamlessly.

All information about the loans is given upfront, including the terms and conditions, to ensure that the applicant understands everything clearly. Assistance is also offered during the repayment phase.
Powerloans — Quick Cash with Payday Gorilla

PowerLoans provides quick payday loans for up to one month. The repayment phase is chosen by the client and can be adjusted from a few days to up to a few months.

PowerLoans is transparent with the cost of their loans, and this means that the annual percentage rate will always be clearly stated, and will always be between 30% and 60%.

New customers can apply for a loan by either visiting one of the offices located in South Africa, or by visiting the website. On the webpage, you can adjust the loan parameters to your specifications so you can see clearly the cost of your loan, as well as the repayment details. If flexibility and transparency are your concerns, it would be worth considering Power Loans.

How to Apply

  1. As mentioned, prospective clients can apply for a loan from Power Loans by either visiting an office in South Africa or by simply visiting the website. Whichever way you plan as for applying, it will be helpful to get a quick estimate on your loan, before you apply. On the front page, simply set the first meter to choose how much cash you want to borrow, then adjust the next meter to choose how long you want the cash for, and it will immediately tell you your repayment date, the cost of your interest and fees, and your total repayment cost.
  2. When you are ready to apply for the loan, you can fill out the quick application on the webpage. You need a few pieces of information on hand. You need to provide your most recent payslip, which also means that you have to be currently employed. The application also requires a copy of your identification card, as well as bank statements going back three months. Once Power Loans has this information, the system will quickly calculate how much you will be able to borrow and for how long. They will also calculate the repayment details and let you know when you must pay the loan back.

It should also be noted that during the application process PowerLoans performs bank and credit checks to verify your details. They will also be collecting a debit order from the bank which you supplied once the application is finalized.

Power Financial Services Loan Details

You are allowed to borrow up to R8000 which makes Power Loans one of the highest loan providers in South Africa. However, the amount that you are able to borrow depends on the personal information you pointed during the registration.

The maximum repayment term is 180 days, but this term also comes with the highest interest. The interest at PowerLoans is normally 0.17% per day, so a quicker repayment term will result in lower overall interest.