Applying for quick cash loans South Africa
- Сandidate requirement
One must be a South African citizen with a 13 digit ID number, be 18 years and older, operate a South African bank account and have a fixed monthly income that is more than R 1,500 a month.
- The process of applying for a loan
Applying for a Quick Cash loan is easy and straight forward. Depending on the Quick cash loan broker you use, you can have a response on your loan application, from within a few minutes of submitting your form to a few hours or a couple of days.
How to apply?
You just need to log onto a personal loan broker site. Once logged on, you can choose the broker you would like to apply for a quick cash online through.
You will find an “Apply” button and once you click on that, you will see an online application form. Fill in your details as accurately as possible in order to get a quick and accurate response.
Loan application processing
Once the Quick Cash loan company receives your online application, they will assess to see whether you qualify for a Quick Cash loan and if you do, for how much you qualify for as well as the interest rates and the repayment period that will be allocated to you.
Besides verifying that you actually get the income that you claim to be receiving, the company will also do a credit check on you.
This credit check gives you a credit rating and based on this credit rating, your suitability for a loan will be assessed as well as your affordability of the loan.
If you qualify for a loan, your credit score will then ascertain the interest rate you will get. A lower credit score means you will get a higher interest rate to compensate for the risk.
Being blacklisted on the credit bureaus does not automatically preclude you from getting a loan.
The company will assess your current risk profile and increase your interest rate accordingly where they find your risk profile is out of their limits despite your low credit score.
Once the loan is approved, you will be put in touch with the provider of the Quick Cash loan so you can sign acceptance of the loan either online or by sending through a scanned agreement.
Once this is done, cash will be transferred to your South African bank account.
- Security of your data
You do not need to worry about the security of your information as all your information is kept confidential and is not used for any other purposes besides for assessment of the loan and communicating with you about the quick cash loan.
This is in line with the protection of personal information laws in South Africa.
Quick Cash loan providers also use systems that keep your information secure from being accessed by unauthorised users, using the best cyber security software in the industry.
Getting quick cash
- Repay loans on time
Once you receive the Quick cash loan, you must make sure that you make the required repayments on time every time until the full loan balance is paid off.
If you feel that you may not be able to make all the loan repayments on time, do not take out the loan if you have not already taken it.
If after taking out the loan, there is a month when you know you will not be able to meet the repayment timeline, contact your loan provider to make arrangements for payment of the amount at a later date.
- Risks of not paying on time
If you do not make repayment of the loan in time or as agreed, the loan provider will report you to the credit bureau. This will affect your credit record negatively affecting your ability to get further loans in the future.
You may also be liable for any extra charges that the Quick Cash loan provider may charge for related to trying to get any outstanding amounts due from you.
Companies in the South African market
On ipayloans.co.za, you may find companies that provide quick cash loan broker services. You are also able to see reviews on these companies which will allow you to select the best companies to deal with who have a proven track record in obtaining a quick cash loan, personal loans and payday loans for their customers.
- How Quick Cash helps you?
Quick Cash loans are a needed resource when you need emergency cash in your life. You may be looking at starting or expanding your business, paying school fees owing, buying a new car or just bridging finance for a couple of months as you get your finances in order.
You do not need to ask friends or family which can be embarrassing and you know when you apply for Quick Cash loans, your details are kept 100 % confidential.