Cash loans in South Africa are becoming more prevalent. One only has to look at fuel costs and rising food costs to understand why many citizens are buckling under economic pressure.When unexpected expenses arise, this places an immense amount of pressure on household budgets.
When you suddenly have to pay for a car repair or an illness forces you to take time off from work and you are left without a source of income to meet your financial obligations, a cash loan may be highly useful. Paying for medical bills that aren’t covered by your medical aid can also push one to turn to no credit check loans in South Africa.
While many people apply for funds at banks, some do not qualify due to bad credit records.
There are micro lending institutions that specialise in providing loans to individuals with no credit checks.
This makes it easier to obtain access to a loan with instant approval. These loans are normally used by blacklisted individuals and are offered at no hassle to applicants.
No credit check loans in South Africa are often mainly based on affordability. This means that the applicant’s credit history is not considered, but rather their ability to afford repayments comfortably.
While they are easily accessible and pay-outs are relatively fast, it’s important to keep in mind that interest rates that are charged are quite high. Lenders have no way of guaranteeing that you will repay your loan through a form of collateral, so charging high interest rates is one way pf ensuring that these loans are repaid on time.
Easy Cash Loans:
This lender offers cash loans of up to R150 000 with no credit check.
Loans are also offered at low interest rates. In addition, the application process is made simple by minimal paperwork required.
Blacklisted individuals are welcome to apply