When taking a loan it is important to know what will you pay for, Capitec Bank provide a table of Term Loan Rates and Fees, this is to help you know what is the rates and fees that you will pay during the loan period.
Knowing such information is vital as it prepares you on the cost that comes with the loan, because you have a right to know what is the interest rate and how much you should repay.
Bellow is the example of how much you will pay when you take a loan from Capitec Bank;
Applying for a personal loan online is super convenient because you can do it anywhere, A personal loan is very essential for many people in South Africa, a loan can be the life savor in many ways, you can find your self in an emergency situation and you really need money and you don’t have time to go to a bank to apply. So you will have to do it online either with your smartphone, banking app, online internet banking or by using USSD.
What do you need to apply online
This depends on your service provider or loan lender if they do support online platforms, for example if you want to borrow from a bank it would be best to borrow from the bank that you bank with, this is because you might have the banking app and you might have an online internet banking account with them.
There are other lenders such as boodle and wonga who have an entire online system that does credit checks and give you the answer on whether you qualify or not and give you a loan there and there on the spot.
What are the benefits of Personal Loan Online Application
The benefits are endless first of all we are living in a very challenging world where women are being killed everyday, there is a corona virus that you might get when you go to the bank brunch, so firstly it offers safety and convenient of applying for a loan at home, you dont have to drive and waste fuel or catch a taxi.
When applying for a personal loan you need to provide certain documents to the loan provider, these documents are needed to proof and check that you meet the desired requirements for a personal loan.
South African Identity Document: ID
The South African Identity Document ID is required to prove that you are a South African citizen and that your identity is truly yours.
Most recent payslip
It is required that when you apply for a personal loan you need to be earning an income and you are employed, loan providers dont give loan to people who are unemployed as they are putting themselves and the loan provider at risk. If you are a contract worker a letter of employment is required.
Three months’ stamped bank statements
A three months’ stamped bank statements is required to see if indeed you are getting money into your account and that you can afford the loan and also to see if what money is left into your account after spending it to all the essentials, this is also a process of determining how much you may qualify for.
Proof of residence. FICA
Proof of residence or FICA, is required so that just in case you fail to repay your personal loan and you disappear when they try to get in touch over the phone and you are no where to be found, the loan provider has the right to send a sheriff to your provided proof of residence for collection.
Please note that the above information is just a general of what is usually being required, some service providers may differ from others so it is wise to contact them directly and find out.
When you require quick cash then Boodle Instant Personal Loan might be the answer to you cash problems, a Boodle Personal Loan starts from R100 to R4000 and this loan is payable between 2 days and 44 days, the days depends on you which days suits you better to repay back the entire loan.
How does Boodle Instant Personal Loan work
Applying for a Boodle Instant Personal Loan is easy all you have to do is to choose the amount that you want and then complete a simple online form the more accurate and specific your information, the better, then Boodle will run a credit check there and there against the information that you have supplied, please note that if your credit record is not good, this does not mean that you wont get your loan.
Boodle will offer you a loan that truly suit you as an individual base on your financial credit check, boodle strive not to put you in more debt that you wont be able to pay back.
If all is well with your application then Boodle with give you the loan that you have applied for directly into you bank account as simple as that.
How Instant is Boodle Personal Loan
The Boodle Personal Loan is supper instant you dont have to wait for the next day to get your money, you are notified instantly just after submitting your application that you do qualify or not, if you do they will send the money directly into your bank account.
Boodle Contact Details
If you have any concerned you can contact Boodle;
Phone: 0861 BOODLE (266 353)
If you have a Standard Bank Banking app you can apply for a personal loan and other credit such as Standard Bank over draft and Standard Bank revolving loan, The Standard Bank Banking app was design to give you entire Standard Bank features that you will get from the brunch in you hand, you can do more and also apply for personal loan.
What is Required to Apply for a Personal Loan through Standard Bank Banking app
There are several requirement that you must meet in order to apply for a personal loan through standard bank banking app, below is the list of what you must meet;
Firstly you need to be an existing Standard Bank customer
You must have been registered by Standard Bank to access the banking app
You need to have money coming into your account monthly
Your credit record must be in good terms
What other feature does the Standard Bank Banking app
With the Standard Bank Banking app you can do more from the comfort of your home, with the COVID – 19 pandemic striking the whole world doing things from home is the new normal and the Standard Bank Banking app enable you to do more from home instead of going to the bank.
Standard Bank is doing what ever it can to make sure that its customers get the best services and feature from the Standard Bank Banking app, bellow are some of the features that you can do or perform on the app.
Apply for a personal loan
Play the Lotto
View Card Pin
Reverse unauthorised debit orders under R200 for free
Request a payment
Open a MyMo account without any documents
Create a Virtual Card for any online or in-app purchases
Make local and international payments and transfers
Make immediate payments and send Instant Money
Buy SMS bundles
Buy data bundles
Buy pre-paid electricity
Change your payment limits (EAP and ATM)
Pay once-off beneficiary
Stop lost or stolen cards, and order new ones
Get stamped statements, bank letters and tax certificates
Check your balances without signing in
Get pre-approval on car financing
Apply for a home loan
Manage your current car and home loans
Submit and track building insurance claims
Open savings and investment accounts
Link your accounts to your share trading profile
Enable your card to be used abroad
How to get the Standard Bank Banking app
Depending which phone or operating system your runs, you can just go to that operating system app store
The Standard Bank Term Personal Loan is designed to allow you to repay the loan at a term you feel comfortable with, the Standard Bank personal loan terms are over 12 months to 72 months you get to choose a term that suit you best as the individual.
Standard Bank Term Personal Loan Rate
What is more nice about Standard Bank Term Personal Loan is the the repayment amount is fixed over the loan term, the interest rates are personalised based on the individual and they are up to a maximum of 24.50%. The interest rate is as per the NCA regulation.
How does Standard Bank Term Personal Loan work
To get the Standard Bank Term Personal Loan you need to apply on Standard Bank Internet Banking, the Banking App or you can visit any Standard Bank brunch.
The Standard Bank Term Personal Loan is up to R300 000 and the repayment term is from 12 months to 72 months, when it is approved Standard Bank pays the amount directly into your bank account immediately. What is more incredible is that if you decide the pay off your Term Loan sooner Standard Bank won’t apply any early termination fees.
If you have a Standard Bank account and you have signed up for the Ucount rewards program and you are earning points into you Ucount account, if you wish you can be able to repay your monthly instalments using your UCount Rewards Points.
Just in case you find yourself disabled, retrenched, you face dread disease or death, you can be able to insured your term loan and the insurance will pay it off, for more information on the insurance of loans please read this article on the importance of having a loan; Personal Loan Customer Protection Plan
Standard Bank Contact Details
So you can email to: email@example.com
Or call: 0860 111 400.
Standard Bank Debt Consolidation offers you an opportunity to combine all you multiple accounts into one repayment installment. The good thing about a Standard Bank Debt Consolidation is that the interest rate becomes lower to unlike when you have multiple monthly repayments on various accounts, all with different interest rates then eventually the interest rate will be high and this will put a huge knock in your wallet and then you end up with no money to survive the month until you get paid again, and you eventually go and ask for another loan and end up in more debt.
Standard Bank Debt Consolidation Benefits
Having a consolidation loan can help you by relieving you from the stress of not have money after payday as you will finish it paying all the multiple debt that you have.
One monthly repayment amount
Less interest rates
You end up saving after payday
How to get Standard Bank Debt Consolidation
Standard Bank has a has a department called Debt Care Centre which you can get in touch with and they will help you get the right solution
So you can email to: firstname.lastname@example.org
Or call: 0860 111 400.
Capitec Bank offers its client an affordable credit insurance to all customers who are taking a loan or a credit card as from May 20 2020, Capitec Bank affordable credit insurance is compulsory but if you have your own insurance you can provide the information of your credit insurance to capitec bank so that you can get covers for unforeseen circumstances.
What does the Capitec Bank credit insurance offer?
The Capitec Bank credit insurance underwritten by Guardrisk and works based on your employment status and when you get a loan you will get the below benefits.
Your credit insurance premium will decrease as the value of your loan decreases
Available up to the age of 65
The claims process is simple
No paperwork is required when applying
Insurance contract is available immediately
How does the Capitec Bank credit insurance work
Capitec Bank credit insurance is designed to help you with your debt just in case you find your self out of the job and you can not prepay the loan, it will come into effect when you claim and inform Capitec Bank on you situation that you are out of work.
The below circumstances can happen to any one in South Africa, but when this happens make sure that you are cover, they will then pay you and cover the debt on your behalf;
When death occurs: the full outstanding amount will be paid
When you get permanent disability: the full outstanding amount will be paid
When you are temporary disability – a maximum of 12 instalments
Unemployment, the inability to earn an income other than as a result of disability or retrenchment – a maximum of 24 repayments (3-month waiting period for retrenchment or termination of employment)
What are the conditions for Capitec Bank not to pay the Capitec Bank credit insurance payout
If you become unemployed or unable to earn an income for reasons other than temporary or permanent disability, no benefit will be payable as a result of;
Retrenchment of which you were aware of or received notice of within a period of 3 months from the entry date of your policy
Participation in an unprotected strike
Voluntary retrenchment or termination of employment
Voluntary forfeiture of salary, wages, or other employment income
So before taking a loan please ask the consultant of the bank if they do offer credit insurance so that you can protect you self for the future.
Capitec Bank consolidation loan can help you to settle and pay all account that are in arrears or loans that you can not pay due to the fact that you have too much debt to cover every month end. A Capitec Bank consolidation loans can help you make debt repayment easier, reduce your total monthly repayment, and maintain and protect your good credit profile. accounts in arrears is a perfect solution for people who have multiple personal loans.
How does Capitec Bank Consolidation Loan work
When you get the Capitec Bank Consolidation Loan you will have all your monthly repayment of loans and accounts that you owe into one instead of several individual ones and your total monthly repayment will be less, this will help you maintain a good credit profile and improve your credit score as you will never miss a payment.
For example lets say your have 3 different clothing account and you also have a car that you are paying off, so all of these account finish your money and then you have nothing to leave off and ending up having to borrow more money that will put you in more debt.
So that is why capitec bank has one solution to help you lower your monthly payments by providing and Capitec Bank Consolidation Loan. this is a single loan that will pay off all of your other loans, leaving you with one loan amount and payment every month.
What do you get with the Capitec Bank consolidation loan
You get a personalised loan of up to R250 000 payable for over 84 months
Affordable credit insurance on loans longer than 6 months
FNB ATM Loan is design for FNB customers who have an account with FNB, the FNB ATM loan is a temporary loan or easy loan that you can get at any FNB ATM. This type of a loan has many benefits and saves a lot of time especially for people who don’t have time to go to the FNB branch to apply for the loan there.
Why is the FNB ATM Loan Special
FNB ATM Loan is the most quickest way to get a loan without any hustle or struggle, for the unexpected events that require immediate finance, whether it’s an emergency such as death in the family, medical payments, vehicle expenses or any other unexpected bills the FNB ATM Loan is always available when ever you need it.
What are the benefits of FNB ATM Loan
When you get the loan or you are thinking of getting one these are the benefits that you need to take into account;
The Loan is available immediately into your bank account
No paper work needed
You get personalised interest rate from as low as 12.75%
Pay no penalty fees for settling your loan early
Loan is from R1000
What is the Qualifying Criteria of FNB ATM Loan
To get the FNB ATM Loan you need to meet the bellow Qualifying Criteria, there are no exception if you dont meet them you wont be able to get the loan.
You need to be an FNB customer with an active FNB Cheque Account or Easy Account
Be 18 years and older
Be a South African Citizen
Pass affordability and credit scoring assessment
What documents do you need to apply for FNB ATM Loan
No documents required
They dont need any documents this is because you are already a customer and they have all the details they need about you.