Do you need a payday loan and unsure of the process to obtain one?
When you need cash in a hurry and have exhausted all your favours with friends and family, then payday loan approval in Port Elizabeth will do the trick!
It’s always best to know what you’re getting into when applying for any type of loan and if you’re based in Port Elizabeth and need access to funds asap, then there are lenders who will accommodate you.
There are a number of questions that might be lingering on your mind with regards to the where’s when’s, how’s and what’s. Let’s start with some of the basics that we need to take into consideration before your payday loan receives approval with one of the lenders Port Elizabeth has to offer.
The first thing to understand about short term loan approval is that quite simply, it’s a loan that will get you from one payday to the next when that unexpected emergency arrives on your doorstep and you need to come up with additional funds to cover it (and yourself) for the remainder of the month.
Loan approval requirements
Since it’s a payday loan, it goes without saying that you will need to earn a stable income, each lender will have their predetermined amount that they are comfortable with before deciding to approve a loan. Lenders will typically lend from as little as R500 and up to R8000.
You would need to be 18 years or older and be a valid citizen of South Africa, therefore in possession of a valid South African ID and lastly, a working contact number.
Are there fees?
Most lenders also don’t charge you any fees for payday loan approval, but it’s always a good idea to do your homework and check that this is the case. It is important to bear in mind that payday loans and any quick cash loans for that matter, attract high-interest rates. Be prepared in that case to budget for your repayment with your next paycheck, since it will be more than the amount you need to borrow!
Where and how do I apply?
So glad you asked! It’s very easy. Thanks to technology, payday loan lenders in Port Elizabeth offer most of their application processes online. That means no more tedious paperwork, changing into a presentable outfit and leaving your living room to apply. You need money fast, lenders understand that therefore they have streamlined the process into the quickest and simplest way possible to ensure that you receive your much-needed personal loan approval online as soon as possible!
You can of course still apply in store at any of the banks in Port Elizabeth or other lending firms that have offices you can visit. But why stand in queues when you can obtain approval right from your seat?
The online process
As mentioned, it’s very simple. Simply visit the website of the lender of choice and look for their “apply now” button, or section, visible on the web page. You’ll be met with a page of details that are required from you regarding your personal information. Once completed, along with the amount you wish to borrow, all that’s left to do is click “submit”. No mess, no fuss! You will need to have recent payslips handy to prove your current employment and income, as well as a utility bill for proof of residence.
On the back end, someone is reviewing your profile and ensuring that you tick all the boxes for payday or bad credit loan approval. Your expenses, employment and affordability take into consideration. Meaning you don’t need to fret over thorough credit checks that might cost you your loan approval. Once everything checks out and your loan is approved, you will receive instant communication. The best part is that you can expect to receive funds in your Port Elizabeth banking account within 24 hours. This is exactly what you need when an emergency comes up unexpectedly.