A personal loan is a lump sum provided to an individual by a bank, credit agency, A personal loan is a lump sum provided to an individual by a bank, credit agency, or private lender, in order for them to use for personal expenses. Personal loans often come with lower interest rates than credit cards, so funding a big expense or project with a personal loan could save you thousands of Rands on interest payments.
The amount of money you are able to borrow with a personal loan varies based on the lender as well as your credit history. Personal loans usually, however, range between R5000 to R100 000. If you wish to borrow more, lenders may require that you switch to a secured loan instead of the more commonly used unsecure personal loan.
Simply fill in your name, surname, email address and a few other details in order to apply for a personal loan. You will contacted soon after this in order to discuss your loan options.
Your personal loan will then be approved/disapproved based on your:
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