How to apply for a personal loan

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How to apply for a personal loan

Many people in life are always in desperate need of a loan, when they are not financially stable or when they don't qualify to buy something special for a special person in their life.




If you want to complete a certain task that needs money and you are in desperate need of a personal loan then this article is for you.

Top Loan Lenders In South Africa


Many companies that are trusted in offering Personal Loans are banks, like 

  • ABSA loans - borrow from R250 up to R350 000 and you have up to 38 months to repay, with personalized interest rates beginning at 13,75 per annum
  • African Bank loans - borrow from a minimum of R500 to R250 000, the repayment term ranges from 7 months to 72 months with interest rates of up to 27,5% per annum.
  • Standard Bank loans - get a loan amount starting from min. of R3 000 up to a maximum of R300 000 with a repayment term that ranges from 12 months to 72 months with an interest rate starting from 18,25% to 28,25% per annum.
  • First National Bank (FNB) loans - borrow from R1000 up to a maximum of R360 000 and repayment term ranges from 1 month to 60 months.
  • Capitec Bank loans -  borrow loan amount starting from a minimum of R1000 up to a maximum  of R500 000 and repayment term ranges from 1 month up to 84 months 

The are many banks that can offer loans of up to R200 000 and can be paid for over 72 months or more.

When you are thinking of applying for a personal loan online or face to face, you should bear in mind that you must be employed or have a certain financial income whether weekly, fourth night or monthly.

People who apply for loans should know that when applying, they should not request an amount that will be hard for them to pay and end up affecting their credit score.

Most of the time when people apply for a loan from a banking company, they are usually asked for proof of income, a payslip, a bank statement and a number of their employer or company numbers.
 
The are other companies that offer loans like Captain loans and Cash Crusader loans, these companies can help you apply for a very minimum amount of loan/money.

You can apply to any place that you prefer and make sure to provide valid information and apply for an amount that you'll afford.

Please share on social media if this is valuable information for you.


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