By simply using a computer or smart device, you can access online loans anywhere and at any time.
Another benefit of online loans is that they may be more affordable that traditional loans. For one, online lending institutions save more money by offering loans this way. They have fewer overheads, so they can afford to offer loans with lower interest rates.
Keep in mind that it’s best if you don’t have an existing loan when you apply for an online loan. This way, you may be more likely to qualify for a more favourable loan amount.
Which are the top 5 simple short term loan lenders online?
The South African financial industry has a wide array of short term loan lenders online, including the likes of Wanna Loan, Wonga, FinCheck, GetBucks and Little Loans.
Wanna Loan provides simple short term loans that are usually due the next time you get paid. As long as you are employed and have an active bank account, it’s simple. Wanna Loan is one of the top 5 simple short term loan lenders online that specialises in providing fast, paperless cash loans.
Offering up to R3000 for new customers and up to R8000 for existing customers, Wonga has established a reputation as a trusted microfinance provider. To apply, all you need is a cellphone number, your valid South African ID and active bank account details,
100% free and independent, FinCheck specialises in providing quick, online applications. Loan amounts range between R100 and a maximum of R8000.
GetBucks offers personalised credit that is based on positive behaviour. With a world-class application process, GetBucks strives to have a quick turnaround on your application. With a process that is 100% transparent, GetBucks is trusted by people all over the world.
Promising its clientele instant approval with no paperwork, Little Loans charges no upfront fees. As one of the top 5 simple short term loan lenders online, Little Loans processes over 2500 loans daily, with sameday payouts.