What is an unsecured loan?
When an unsecured loan is taken out this means that the loan you are getting does not hold any of your assets as security . The interest rate and the monthly payments are fixed over the term of the loan which can be from 1 month up to 84 months depending on the company you are borrowing from .
The fixed payments Can Work in your Favor as you can work an exact Budget . always read the small print carefully and make sure you ask all the questions that concern you.
Interest rates on unsecured loans can be between 2 and 5 % a month depending on the loan product and this is the maximum allowed by NCR regulations , the rate of interest you get is determined by your individual risk profile and if you have a poor credit record you can still obtain a loan but in most cases it is at the highest interest rate. The reason these companies charge a high rate is because as a client with bad credit you are considered high risk and to offset this risk the lenders charge you a higher rate , but it pays to shop around for the best deal before signing anything . The amount you want to borrow could also affect you repayment so its always best to only take the amount you need .
Is an unsecured loan right for me?
If the Money you want is for a holiday to pay for education or medical bills or anything that is not a fixed asset(such as a house or car).This type of loan is known as a unsecured loan. A personal loan is basically a unsecured loan an they are other various terms used that mean the same thing . Some of these terms like micro loans basically mean a smaller type of loan with a short repayment period and loan amount. A Personal loan is usually over a longer period and has a higher amount and repayment period. Other types of unsecured loans are consolidation loans. These types of loans still need to meet the same Criteria as a personal loan the only difference is that instead of the Money being paid to you it is paid directly to the company that you would like to pay off this will also decrease your monthly expenses and allow you have a higher disposable income. We at SA Loan Services offer consolidation loans and will help you through the entire process. The types of loans that actually are different are home loans ,vehicle finance asset based finance(secure loans ) . These types of loans have a totally different set of rules and Criteria.
In what cases can I NOT apply for a loan ?
You cannot apply or qualify for a loan if you are under debt review , Admin order , Sequestration .
We all need extra money from time to time, but debts can quickly spiral out of control that's why it is so important to make sure that you are signing up the deal that suites your personal needs .
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If you reside in South Africa and you are permanently employed then you can apply for a online personal loan today . By applying with us we aim to give you the best possible professional service .We try our best and are willing to go to the Extra mile to assist our customers in any way we can. We try to bring you the best and most easy way to apply for loan by taking out the hassles related to it. When you search for a bad credit personal loan in South Africa all you need to do if complete a quick and easy online application form to apply.
All these private lenders use there own set of risk Criteria to score an application , knowing where to apply and who to apply with means that your chances of getting that much needed help is greatly maximized. We at SA Loan Service's understand that sometimes unexpected thing's happen in life and as a result one gets a bad credit record due to this. We at SA Loan Service's have specially designed product's to assist ITC listed clients in getting a personal loan today. Even if you have a judgment or default or both or if your credit score is low you may still be able to qualify. Bare in mind that you will still need to meet these companies credit risk Criteria however the Criteria used is much more lenient. All these private loan companies also need to follow NCR guidelines and need to conduct proper affordability assessment to protect to consumer against over indebtedness.
"SA Loan Services has been in the loans industry for over 10 years , with our vast and extensive industry knowledge we greatly maximize your chances of qualifying for credit by knowing the legal requirements to motivate your application"
Sit back relax and let us take the hassle out of applying !
Apply for a quick and easy personal loan today by completing our online application form .When one goes online searching for a loan a very popular phrase used is blacklisted loans. You will find a vast number of companies and options whom use this phrase and it can be quite overwhelming to the consumer. Not knowing where to apply or whom to apply with can leave one feeling stressed and anxious. We at SA Loan Services aim to address those needs by bringing your the very latest in alternate financial products. Trying to get a personal loan can be quite a daunting task if you have any type of bad credit. Some companies and banks will not grant a loan in the event that you do not have a good credit record. Luckily there are private credit providers whom use less strict Criteria and will still grant a loan to you even if you have a less then perfect credit record.
"SA Loan Services are Direct loan Brokers with 10 years of industry experience, we deal directly with various private credit providers and also facilitate the application process from start to end. Your information is NOT passed on to any 3rd party other then the credit providers themselves" Click here today to complete our quick and easy online application form.
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