Tag Archives: loans

RCS Personal Loans

The RCS Group is an financial independent company which offers individuals a variety of loans including personal loans, home loans, insurance, private label and retail credit cards.

Who may apply for such a loan?

RCS personal loans range from between R1000 to R50 000 and individuals between the ages of 21 and 65, who is permanently employed, and earning at least R2000 per month can apply.

Back up and quality service guaranteed

The RCS Group was established during 1999 by two business giants namely, Standard Bank with 45% shares and Foschini Group with 55% shares, and therefore financial expertise and customer service backup is guaranteed for your RCS personal loans; RCS is also listed on the Johannesburg Stock Exchange (JSE).

How do I go about applying for such a loan?

It really is as simply as filling out an online application from the RCS main website. Simply fill in the form with accurate information and a customer service advisor will contact you within 48 hours to complete the transaction. A real time credit check facility is available which automatically provides information regarding your current credit ranking, and whether or not you qualify for the loan amount.

Because client’s interest is taken to heart, the service agent will need to discuss your current expenses and how much you can afford to pay on a new loan. With this information a feasible approved loan amount will be provided; individuals must be truthful as most of your current credit liabilities and info will appear on the credit bureau listing.

Loan period and interest rates

The repayment on your loan will vary from between 12 to 60 months and the interest will be charged accordingly. Being an independent financial credit provider, individuals should note that the interest rates charges will most probably be higher than the personal loans provided by conventional banks. RCS personal loans are unsecured loans which also mean that no collateral or securities from the individual is required, and therefore motivates the higher interest rates charged and smaller loan amounts offered compared to secured loans.

Other fees

Other fees, including initiation and service fees might be applicable and individuals need to be aware of this. Individuals may be subject to undertake a small insurance policy which will cover your loan amount in the case of dread disease, permanent disability or death.

RCS personal loans are usually must easier to obtain and the application process is simple. Friendly and knowledgeable customer agents will be able to assist with any queries, and whether or not the requested personal loan and repayments will suit your budget. RCS personal loans are ideal to obtain if you require funds relatively quickly. It can therefore not be stressed enough to keep your current debt payments up to date to ensure trouble free and easy access to a RSC personal loan.

Individuals interested in applying for a RSC personal loan or who simply require more information, simply apply at their website

Old Mutual Personal Loans

Funds are made available within minutes of your application for you to spend as you wish without needing to worry about providing spending plans and progress reports before approval is given.

Minimum term of 3 months.Maximum term of 36 months.Qualify for up to R50 000.Fixed interest rate at the time of the application.You need to be employed for at least 3 months at the same employer.The interest rate applied will be determined by your credit score.Only individuals can apply for a loan.You must be older than 18 years of age.

You need to be a resident of South Africa.You must have a valid South African ID document (Green, bar coded, 13 digit).You must provide a current payslip no older than 1 month.You need to provide a consecutive bank statement for the last 3 mont

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    Please Contact your Old mutual Financial Adviser/ Broker or Old mutual Direct in order to apply. Turnaround time is approx 10 working days

ATM loans

ATM loans (Recurring advance deposit): This is an electronic service allowing customers to apply for small loans and receive immediate payouts at an ATM. It is a South African first. Currently FNB and ABSA offer the service where a customer can check to whether he or she qualifies and withdraw the amount, all from the ATM.
It is more like an overdraft facility where the amount is offset against the next deposit.

ABSA Personal Loans

Whether you want to give your lifestyle a boost or have an unexpected expense to deal with, a Personal Loan from Absa is the cost-effective way of making it happen.

A Personal Loan is an excellent way of financing a planned or unplanned event. You enjoy immediate access to the entire loan amount and can negotiate repayment terms to suit your needs and budget.


A Personal Loan could be the right choice if you:

  • Need to access R3 000 to R150 000 quickly, with variable and fixed monthly repayment options and up to 84 months to pay
  • Are a South African citizen or permanent resident, 18 years or older, with a valid identity document
  • Receive a minimum income of R2 000 a month
  • Have a bank account into which your salary is deposited
  • Have proof of your current residential address, such as a municipality or rates bill
  • For personal loans below R 15,000: fixed monthly repayments and up to 60 months to pay.
  • For personal loans above R 15,000: variable monthly repayments, linked to prime and up to 84 months to pay.
  • For personal loans over R 30,000: you qualify for a longer repayment term of more than 60 months.

Rates & Fees

  • Competitive interest rates which are determined by your individual risk profile.
  • Initiation fee will be charged on all new personal loans based an individual risk profile.
  • Monthly service fee will be charged on all loans.

How do you qualify for Personal Loan from Absa?

  1. To apply you must be either a South African citizen or permanent resident and be in possession of a valid Identity Document and 18 years or older.
  2. You must have minimum income of R2, 000 per month and hold a valid bank account into which your salary is deposited.
  3. Proof of current residential address, e.g. electricity or cell phone statement, etc.

 

Nedbank Personal Loans

Whether individuals require extra cash for a holiday or a larger amount as a deposit on a new vehicle,Nedbank personal loans is the answer for you.

Nedbank offers both secured and unsecured personal loans to individuals.

What is the difference between secured and unsecured loans?

Generally a secured loan means that you have signed over some form of security, such as a mortgage, which the financial institution may sell if individuals do not repay their personal Nedbank loans as agreed.

With Nedbank some pension or provident funds have established agreements with Nedbank where the money available in an individual’s pension fund can be used as collateral by the particular individual to obtain a Nedbank personal loan. These individuals need to comply with the following strict criteria before a secured Nedbank personal will be offered:

  • Must have permanent employment for at least 3 months by the same employer, or employed for 12 months with the same employer when earning weekly wages.
  • Provide the latest salary slip.
  • Must be able to proof a net salary or wage of at least R1500 per month which is electronically deposited into a bank account.
  • Must provide a green South African bar-coded identity document.
  • Provide proof of residence such as an electricity or rates and taxes bill.

Unsecured Nedbank personal loans are probably the most common form of loan given to consumers and can range anything from R2000 to R120 000. If approved the cash amount is deposited directly into the account in which you receive your salary; it doesn’t even have to be a Nedbank account! Payments are debited directly from your account over a repayment period of between 12 to 60 months.

The same criteria for secured loans exists with the exception that 3 months bank statements are required from the individual applying for the loan.

A unsecured loan usually is given at a higher interest rate because no collateral is required from the individual and therefore the risk to Nedbank is far greater. With unsecured Nedbank personal loans individuals are obliged to take out insurance on the loan amount which will pay off the loan in the unforeseen event of death, retrenchment or disability.

It is always good practice to pay your liabilities as agreed as your payment history is reflected at the credit bureau and influence your application process. In most cases interest rates charged is a direct result on how you manage your finances.

Why not step into a Nedbank branch to see if you would qualify for a Nedbank personal loan? Friendly and knowledgeable staff will guide and assist you through the application process, and will discuss the amount you can afford to repay on a monthly basis. Alternatively individuals may complete an online application.

Interested individuals seeking more information about Nedbank personal loans can enquire at their closest Nedbank branch.

Nedbank Home Loans

Nedbank’s earnings from their home loan products are up by more than 25%, a percentage they are looking to increase even further by the time that they release their full year results in the second half of this year. To achieve their goal, Nedbank aims to “compete across all client segments with differentiated products and tailored distribution. A key part of this is the implementation of our ‘bank for all’ strategy.”
In addition to their Buy-to-Let and Building products, Nedbank has two flexible mortgage products through which to meet their targets. These are:
Ordinary Home Loan Alphabond 
Ordinary Home LoanThe Ordinary Home Loan is a flexible home loan that can be tailored to meet individual requirements. It suits prospective home buyers who have the cash to pay the registration and transfer fees of their new property.Features and BenefitsSome of the features and benefits of Ordinary Home Loan include:
Loan Term 
Loan terms of up to 30 years are granted.
Financing 
Up to 100% financing can be provided. The minimum loan amount is R 70,000. There is no maximum set. Presents you with a choice between fixed interest rates and variable interest rates. Ability to register a second home loan Includes Readvance. Readvance provides you with access to the difference between your original loan amount and that portion of the principal that you have already repaid.
Transacting
You are allowed to make additional deposits and / or to pay more than the minimum amount every month in order to save on interest and to reduce your term. Includes NedRevolve, an add-on that allows you to either access the additional deposits you make into your home loan account or to use as a method to accrue interest-free savings. Qualifying criteriaTo qualify for Ordinary Home Loan, you will need to meet Nedbank’s credit requirements, earn a minimum of R 2,500 per month – singly or jointly – and possess a valid South African Identification Document.CommentThe Ordinary Home Loan can be used for the purchase of an established residential property or to buy vacant residential land for development purposes.AlphabondAlphabond is designed for first time home buyers who do not have the cash to pay the upfront registration and transfer costs of a property.Features and BenefitsSome of the features and benefits of Alphabond includes:
Loan Term 
Loan terms of up to 30 years are granted.
Financing 
You have a choice between a 108%, and a 104% home loan. If you choose 108%, there is a guaranteed cash back. If you opt for a 104% home loan, you only start making your repayments in month four. If you prefer a home loan of less than 100%, Nedbank will offer you a rates concession. The minimum loan amount is R 70,000. There is no maximum set.Choose between a fixed interest rate and a variable interest rate. Ability to register a second home loan Includes Readvance. Readvance provides you with access to the difference between your original loan amount and that portion of the principal that you have already repaid.

Transacting
Payment by debit order compulsory. You are allowed to make additional deposits and / or to pay more than the minimum amount every month in order to save on interest and to reduce your term. Includes NedRevolve after your home loan is less than 100%. This is an add-on that allows you to either access the additional deposits you make into your home loan account or to use as a means to accrue interest-free savings.Access to Further Bond. Further Bond allows the registration of an amount of money additional to your current, registered mortgage. Qualifying criteriaTo qualify for Alphabond, you have to be a first time home buyer, meet Nedbank’s credit requirements, earn a minimum of R 2,500 per month – singly or jointly -, and prove stable employment in the same career stream for two years or longer.

RCS Personal Loans

RCS Group is an financial independent company which offers individuals a variety of loans including personal loans, home loans, insurance, private label and retail credit cards.

Who may apply for such a loan?

RCS personal loans range from between R1000 to R50 000 and individuals between the ages of 21 and 65, who is permanently employed, and earning at least R2000 per month can apply.

Back up and quality service guaranteed

The RCS Group was established during 1999 by two business giants namely,Standard Bank with 45% shares and Foschini Group with 55% shares, and therefore financial expertise and customer service backup is guaranteed for your RCS personal loans; RCS is also listed on the Johannesburg Stock Exchange (JSE).

How do I go about applying for such a loan?

It really is as simply as filling out an online application from the RCS main website. Simply fill in the form with accurate information and a customer service advisor will contact you within 48 hours to complete the transaction. A real time credit check facility is available which automatically provides information regarding your current credit ranking, and whether or not you qualify for the loan amount.

Because client’s interest is taken to heart, the service agent will need to discuss your current expenses and how much you can afford to pay on a new loan. With this information a feasible approved loan amount will be provided; individuals must be truthful as most of your current credit liabilities and info will appear on the credit bureau listing.

Loan period and interest rates

The repayment on your loan will vary from between 12 to 60 months and the interest will be charged accordingly. Being an independent financial credit provider, individuals should note that the interest rates charges will most probably be higher than the personal loans provided by conventional banks. RCS personal loans are unsecured loans which also mean that no collateral or securities from the individual is required, and therefore motivates the higher interest rates charged and smaller loan amounts offered compared to secured loans.

Other fees

Other fees, including initiation and service fees might be applicable and individuals need to be aware of this. Individuals may be subject to undertake a small insurance policy which will cover your loan amount in the case of dread disease, permanent disability or death.

RCS personal loans are usually must easier to obtain and the application process is simple. Friendly and knowledgeable customer agents will be able to assist with any queries, and whether or not the requested personal loan and repayments will suit your budget. RCS personal loans are ideal to obtain if you require funds relatively quickly. It can therefore not be stressed enough to keep your current debt payments up to date to ensure trouble free and easy access to a RSC personal loan.

Individuals interested in applying for a RSC personal loan or who simply require more information, simply apply at their websitE

Direct Axis Personal Loans

As an authorised Financial Services Provider with many years in the financial services industry,Direct axis offer a range of solutions and benefits that are designed to cater to our customers’ every need. This includes a choice of two loan solutions – with up to R150 000 cash available.
Choice
Choose a DirectAxis Personal Loan of up to R100 000 or a Direct Plus Loan of up toR150 000!

A DirectAxis Personal Loan of up to R100 000 could be yours within 48 hours!This is an unsecured loan that you can pay back over a repayment term of 2 to 6 years. You can choose the loan amount that suits you, from R4 000 up to R100 000 (in increments of R1000), and the money could be in your bank account within just 48 hours.

A Direct Plus Loan of up to R150 000 with fixed interest rates! For those larger needs and expenses, a Direct Plus Loan amount from R50 000 up to R150 000, could be the answer. This loan is secured against your immovable property. Opt for a repayment term from 4 to 10 years. A portion of the loan could be in your bank account within just 48 hours and the balance could be within 2 months. An added benefit is that DirectAxis pays for the full conveyancing fees.

Whichever loan solution you choose, you are free to use the money however you like – make those home renovations, pay for your child’s education, consolidate your retails accounts and more!

Fixed rates

Repayments are fixed at our current interest rate for the full term of your cash loan – they never go up, no matter how much interest rates do!

Easy access

Apply for a loan online or over the phone 7 days a week from 8am to 8pm.
No face-to-face interviews or unnecessary paperwork.
Cash deposited directly into your bank account.

Speed

Fast application and speedy processing gives you direct access to the money you need! Plus, get a decision in seconds on whether you qualify – no waiting around when you fill in our short online loan application form.

Peace of mind

You’re dealing with an authorised Financial Services Provider. DirectAxis has always promoted responsible lending and is compliant with the National Credit Act, No 34 of 2005. All of our loans include our Personal Protection Plan which settles your outstanding loan balance in the event of your death, permanent disability or certain dread diseases. This plan also includes limited cover in the event of temporary disability or retrenchment. You’re free to substitute the Personal Protection Plan with a policy of your choice, provided the cover offered is equivalent.

We try to accommodate all requests, but ultimately your final loan amount will be based on your personal financial profile and subject to credit approval.

Get an instant decision by filling in our quick loan application!

Loans are subject to the National Credit Act No. 34 of 2005. All loan applications are considered and are subject to credit approval by DirectAxis. This offer is subject to expiry at the discretion of DirectAxis

Advantages and Disadvantages of Unsecured Loans

Unsecured loans are loans that are issues without having any pre-requisites of collateral. An unsecured loan provides financial solution for a short term period.

Unsecured loans act as immediate financial solutions. Borrowers with good credit ratings can get unsecured loans at relatively lower interest rates. Unsecured loan packages offer loans with fixed interest rates and with fixed monthly installments. Borrowers have to payback these monthly installments within a pre decided duration of time.

Advantages and disadvantages of unsecured loans differ from one lender to another. Due to this it is necessary to compare the loan packages offered by different lenders. You must understand the terms and conditions offered by a lender. Make sure you have a clear idea about the loan package before getting unsecured loan or any kind of loan like an unsecured tenant loan, so that you do not end up as a defaulter.

Advantages of Unsecured Loans

There are certain advantages of unsecured loans:

– Overall process of unsecured loan application and approval is faster than secured loans, mortgages and home equity loans.
– Very little of documentation and paper work is involved in unsecured loan process.
– Homeowners, renters and non-property owners are eligible to apply for unsecured loans.
– Unsecured loans can be applied for without having any collateral. This allows you to get a loan without staking your property.
– Another most considerable advantage of an unsecured loan is that it is granted on fixed interest rate. Due to fixed interest rates, monthly installments remain unchanged till the end of the payback period.

Disadvantages of Unsecured Loans

 

Following are the disadvantages of an unsecured loan:

– Since there is no collateral involved, unsecured loans are offered with high interest rates. To get relatively low interest rates borrowers must have good credit record.
– Large amounts of money can not be borrowed as an unsecured loan. Borrowers can only get unsecured loans of maximum R150,000 and it will rise to just R250,000 that too very rarely.
– You have to return the loan within the set payback period. This payback period is set by the lender.
– You are required to pay the loan in pre-decided time frame. If you want to pay your unsecured loan before the set time period, you will have to pay an early repayment fine.
– Repayment terms and conditions of unsecured loans are very rigid. Only lender has the right to decide the amount and repayment schedule of the unsecured loan, which is a must follow for the borrower.
– The application terms and criteria are also rigid. Borrowers with bad credit record, Country Court Judgments CCJs, default or arrears are not eligible to apply for the unsecured loans.

These are some advantages and disadvantages of unsecured loans. Borrowers must consider them when applying for an unsecured loan. Different lenders offer different packages. To choose a flexible lender with relatively lower interest rates, we suggest you to; first be fluent on the characteristics of unsecured loans, second window shop and compare unsecured loan packages offered by different lenders and never go for the first unsecured loan offered.

Loans Online Sa

Loans Online Sa Online offers loans from R500 – R150 000 that will make your life easy and you can simply apply for the loan online using their easy to use system.

  • Loans from R500 – R150 000
  • Discreet, Secure and confidential
  • Easy and Flexible Repayment Terms
  • Blacklisted Applicants Welcome
  • Same Day Approval
  • No Original Documents Required

Requirements

  • You need to be employed for 3 months
  • Need to have a permanent job
  • Your salary needs to be paid into your bank account
  • You must be at least 18 years old
  • You must carry a South African ID document

Documentation needed

  • Copy of your payslip
  • Copy of your ID document
  • Copy of your latest bank statements

Please visit www.loansonlinesa.co.za