Quick cash loans online Pretoria, South Africa
Short term loans or payday loans have increasingly become popular in South Africa with borrowers looking for easy, quick access to cash to cover emergency expenses. And with the introduction of online loans in South Africa, people looking for short term finance in SA now have a reputable, trusted provider to help them with short term credit needs.
As the name implies, short term loans are normally smaller amounts that people can borrow and repay in shorter time frames (hence also the term payday loan). Short term loan providers in South Africa have less strict approval requirements, so a lot of people prefer them to their normal bank, where loan approvals are scrutinized in detail, and approvals take a longer time.
In order to qualify for an online short term loan in South Africa you will need the following:
- A South African Citizenship with a valid ID
- You must have completed 18 years of age
- You must hold a valid bank account
- You need a valid cell number
Most short-term loans have a 40-day repayment cycle which means you can easily pay when your payday arrives. The loan amount is also totally flexible so you can set the credit according to your needs and repayment abilities.
As mentioned above, the opening of many online loan lending shops in South Africa has changed the face of the local short term loan industry by moving the application process entirely online. This results in easier applications, speedier turnaround times and increased transparency in rates and fees for the borrower. These companies use special online risk assessment technology that will assess your request and inform you of whether or not you were successful within minutes. If approved, you will have the requested funds in your account within 24 hours which makes them great to use for those unexpected emergencies.