Loan approval for Durbanites seeking payday loans is easier than you think.
Much like a quick Durban curry-in-a-hurry, payday loan approval in Durban the best thing when you need cash in a hurry. It’s not that you are bad with your financial or budget poorly, it could simply be that something completely unforeseen has landed in your path and requires access to funds that you simply do not have. A payday loan will solve this problem in no time.
When it comes to the options available to you, there is a multitude. South African’s have become quite familiar with loans since it’s become a household term and a necessity for most. In Durban you are no exception, there are as many lenders at your disposal as the next place.
Even though you have your pick when it’s time to choose the right lending institution, it’s still a good idea to investigate all the product offerings that each one has, as well as take your time to read through the fine print in the policies section. Payday loans are novel and extremely helpful when you’re in a bind, but don’t borrow to your own detriment. Do your homework! You can also review our range of expert tips on loan approval so you can ensure you have all the facts before taking out a loan.
Who can apply?
The answer to that is – anyone! If you are a South African citizen and have proof in the form of a valid ID book or card and are over the age of 18 years, then you can apply for personal loan approval online. If you have bad credit – you can apply. Do you have bad debt? You can apply too! Lenders will not perform a full credit check for a payday loan, they simply look at your expenses and your income and determine whether you can afford the repayment on your next payday. The other very clear criteria from the above is that you need to earn a monthly income. How much will depend on the lender in question since they each have their own stipulations?
Will I be charged for applying?
Payday loan lenders don’t always have fees attached to their services. However, some might and that is why you should always find this information out prior to seeking payday loan approval. You certainly can expect to be charged with interest on the loan, and remember that with any short-term loan, interest rates are higher than usual. If this is a concern for you, be sure to shop around for the best deal out there. Consult a friend or family member for advice if you need.
Applications for payday loans in Durban
While you can apply at your very own bank, you can also apply online. Remember that if you do choose to go to your own bank, you may receive a better deal on the interest rate. Applying online means access to funds quickly. Avoid queues and get the help you need immediately!
Fill in a very quick and easy online application form with all your personal information, your financial information and your intended borrowing amount and wait for the quick loan approval! Upload your recent payslip and a few other documents that might be required and submit your application. A quick analysis is done on the back end of one of the handy consultants on the receiving end and they decide whether you are worthy or not of this loan. As soon as this is determined, you are instantly notified and you can expect the funds in your account the very next day, if not the same day in some cases. It’s a completely paperless and fuss-free solution to accessing emergency funding.
Make sure that your bank account is active and the lender will transfer the funds to that specified account. A debit order is also set up to take the repayment amount by the next payday.
It’s always important to budget for that repayment. Though lenders will assess your affordability, it’s also up to you to ensure that you will have money available for it when the time comes. If not, you could incur a heavy penalty, so avoid this by borrowing responsibly.