A successful partnership between Cash Credit, an international tech-based financial services company with mobile company MTN has resulted in a simple loan solution called Instaloan. In addition to offering prepaid and contract cellular deals, as well as mobile payment solutions the mobile company has also expanded its services to include loan services.
With this loan solution, loans are completely transparent and fees are in line with National Credit Act regulations.
Individuals can get access to loan amounts of up to R5000 in a quick way, where there is no upfront payment required.
The application process is quick – it takes only 5 minutes to complete.
Repayments can be made by debit order, within a period of 6 months. An alternate way of repaying the loan is by making payment at any PicknPay, Checkers, Shoprite, Woolworths, or Boxer Stores. If you opt to, you can make a payment by EFT or by making a direct deposit.
Once you have been approved for a loan, the money is paid directly into your bank account.
What are the qualifying criteria?
- Be at least 18 years old
- Be a South African citizen
- Have a regular income that is deposited into your bank account
How the Instaloan application works:
- Decide how much you want and when to pay
- Complete the 5 minute online application. This way you can save time and money because there are no branch visits to be made.
- Register an account and fill in your personal and banking information. Upload your 3 most recent bank statements.
- Your information will be verified after which the loan will be finalised.
- Once approved, you will get an SMS and an email.
- Login to the website and sign the agreement electronically.
For more information about Instaloan, call 087 743 2000 or visit www.instaloan.co.za
