Personal loans have been helping individuals around the country for many years when they’ve been faced with financial situations that require funds on demand.
Applying for personal loan approval means requesting an upfront lump sum for a matter that might be personal, yet requires the funds immediately, therefore not having the luxury of being able to wait and save. If this sounds like the situation you are in, then it’s time to consult the experts and let them help you solve your problems with the help of a loan.
When looking for a preferred lender, it’s important to shop around and see what terms, costs, and deals are available. Each lender has a specific set of requirements and also rates and fees which they charge for the loan application. It’s, therefore, a wise idea to ask for advice or otherwise does the homework yourself online.
Pretoria has a variety of options available to individuals seeking the help they need to cover their financial needs. All one is required to do is visit the websites or call and ask all the questions that matter to you when making a financial decision as paramount as this. When you have opened all the sites of the seemingly apt loan providers, you can easily navigate through the Q & A and other pages like the blog and loan approval tips pages to ascertain the costs and other vital information you may need prior to making a decision.
Personal loans don’t require collateral; however, you can offer security if you think it might increase your chances of receiving a better rate. Interest rates are attached to the loan as fixed, therefore your entire term’s instalments will remain the same until the loan is completely settled.
Am I choosing the right loan type?
Any loan provider out there will have a bouquet of loan options available. If you’re unsure whether you’re making the right decision, there are consultants that can help you feel secure in this decision by putting to bed any concerns you may have. However, it can be said that there are tailored loans for specific requirements such as vehicle finance, education finance, and others, but pursuing personal loan approval in Pretoria is ideal for those looking for larger loan amounts.
Is there a limit to how much I can borrow?
Certain lenders will offer you an amount as a first-time customer that differs from those who are repeat customers. Typically, the loan amount is between R150,000 and R200,000 as the maximum, differing from lender to lender. The loan is repayable via monthly instalments over a period of anything up to 60 months.
Obtaining loan approval in Pretoria is quick & easy
It is the prerogative of the individual as to whether they would prefer to go instore or into a bank to apply or to simply use the handy sliding scale tools and application forms online. It is also up to you to decide whether you'd prefer to pursue short-term loan approval or a long term personal loan depending on your needs and budget. The sliding scale tools are easy to use and help you determine the estimated instalment amount prior to even getting started. Simply toggle between the amount you wish to borrow and the period over which you wish to repay the loan, and you will see the amount that you will need to be able to afford each month.
If you’re happy with what you see, then filling in your personal details can be done within minutes, along with the uploading of personal documents that each lender requires in order to perform the credit checks. These documents include your South African ID, 3 of your most recent payslips, 3 months’ bank statements and a proof of residence no older than 3 months.
Your credit profile will be checked and assessed, as will your affordability from the disposable income that you prove through your income and expenditure. Provided you have supplied all the correct information and are comfortable that you have a good credit score at the bureau, you can patiently wait for the quick loan approval online from the loan provider!
As soon as your loan is approved, you’ll be furnished with an agreement encompassing all the information, costs and repayment terms of your new personal loan and funds will be transferred into your account.