SA Cash Loans offers you fast cash, particularly if you’re blacklisted. You can get a personal loan from R500 to R150 000 with periods of 60 months to repay. With SA Cash Loans, you must be permanently employed for at least 3 months with a minimum gross monthly income of R3000.
Where banks don’t want to assist, WE DO. We will have an answer on your personal loan for you within 2 hours!Our blacklisted personal loans range from R500 to R15 000 When you apply for a personal loan you will have a response within the same day.
We have assisted thousands of clients and have a very high success rate on all types of personal loans. You get the best personal loans with us at affordable rates! We have a professional team, assisting clients for the past 10 years.
Apply for your Personal Loan go to www.lctfinance.co.za
Blacklisted people often get turned away from major financial institutions that are weary of giving personal loans to people with a bad credit record. This has, of course, an effect on the personal lives of such people.
You can still get a personal loan if you are blacklisted or have a bad credit record. This is because smaller financial credit providers are more inclined to grant you a loan as they are less restricted and have more flexible policies. They are by law required to abide to the National Credit Act, 2005 (Act No. 34 of 2005) so don’t go into a financial credit provider’s office expecting them to break ethos and laws of the country.
Now, here are certain things you need to know in order to have the best chance to acquire that much needed personal loan.
- You will certainly attract a higher interest rate because you are still considered a risk. The interest rate is one of the first things you will need to inquire on, so shop around for the best rate.
- You have to have been permanently employed with your current employer for a period of more than 2/3 months, receive a salary into a bank account and have a salary slip.
- Be a South African citizen.
A lot of these institutions will most likely turn you away if you are:
- Self employed
- A commission earner only
- Under administration or debt review
- Weekly or fortnightly paid
- A Pensioner
How much can you acquire? Well, it really depends on the lender and you. Some lenders will go as far as R 200, 000 or as low as R 1000, but will depend on how comfortable you are with the interest rate they will charge you. They also will look at your own debt record. The most important thing is to make sure you can pay back these monies.
Be at the ready with documentation such as the last 3 months bank statement, South African ID, payslip and proof of residence. There are still institutions willing to grant loans for blacklisted people and your search should not end with the banks. Apply here
Being blacklisted is not the end of your credit road for you. South Africa has a lot of registered credit providers that are willing to look at your case and help you apply for a loan (in the case of facilitators) or even loan you the funds themselves. Therefore you can go straight to a credit provider to apply for a loan and you will get your answer sometimes within minutes depending on the loan amount. The best thing to do in most cases for blacklisted individuals is to go see a credit facilitator. These are the people who apply on your behalf to credit providers and facilitate your application process to give you a better chance of being approved for a loan.
Let’s look at credit facilitators and how they help people who are blacklisted but need a loan.
A loan is often looked at case by case to see if you qualify. Credit facilitators that apply for a loan for you are experienced enough to know how to present your case to lenders and which documents and information is needed when presenting a loan application to registered credit providers. Information that you would normally have to have are your monthly expenses, monthly/fortnight salary, SA ID book and employment record.
Tip: make sure you are able to afford a loan by calculating your monthly expenses. You will most likely be approved if you can show that you can afford the loan. Do not cheat when calculating your expenses as credit providers can easily check what you are paying to other credit providers. Make sure you calculate all your expenses including your groceries and clothing accounts.
Tip: keep a record of how you are paying for the debts that you are currently blacklisted for. A track record of good financial management will look good for credit providers. No credit provider wants to get into trouble with the NCR for giving a loan to a person who is unable to pay their debts.
Personal loans are available even if you have bad credit. The issue most people with bad credit have is that they are afraid of getting rejected by the big banks like FNB and Absa when they apply for personal loans.
The good news is that banks are not the be all and end all of creditors, other institutions also provide loans for people with bad credit. These independent companies are also registered credit providers and help people with personal loans. A quick search on the internet reveals countless number of credit providers willing to help.
What help is there for people with bad credit records?
You can put through an online loan application for people with bad credit and get a reply within the same day. They will assess your credit score and see how much you qualify for. The qualification is often stringent as they will have to assess your expenses as per NCR’s rules.
Make sure you qualify by making sure of the following:
• You must be permanently employed
• You must be a permanent resident of South Africa
• You must be between 18 and 65 years old
• You must have a monthly take home of a reasonable amount after all your monthly financial obligations including the newly added consolidation loan
• A salary that has been deposited into the same account for more than 3 months
How much do you qualify to get a personal loan for?
You can get as much as R 200,000 if you can show you are able to qualify for the personal loan. It also can be as little as R 1,000 if that will help you through the month. It also depends on the reason you give for requesting the loan. If you can prove why you would like the loan you can get as much as R 200,000 or whichever the maximum allowed amount by specific lender. Apply here