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History and Evolution of Payday Loans in South Africa

History and evolution of payday loans in South Africa

Payday loans, often referred to as cash advances or short-term loans, have become an integral part of South Africa’s financial landscape. Designed to provide quick financial relief until the next paycheck, these loans cater to those in urgent need of cash. This article delves into the journey of payday loans in South Africa, tracing their […]

Definition and Overview of Payday Loans

Definition and overview of payday loans

In today’s fast-paced world, financial emergencies can strike at any moment. For many, payday loans offer a quick solution. But what exactly are payday loans, and why do they stir up so much debate? Let’s delve deep into understanding this controversial financial product. Definition of Payday Loans A payday loan is a short-term, high-interest loan […]

Soft Credit Checks Role in Obtaining a Personal Loan

soft credit check personal loan

While there are many personal loans on offer, South African laws require lenders to conduct background checks before approving any loans. These generally include credit checks, income checks, and affordability tests. These background checks are all methods of testing your risk as a consumer, which is perfectly reasonable. But did you know that there are […]

Loans without Affordability Checks – The Pros & Cons

loans without affordability check

Most loan application processes involve comprehensive financial background checks. Lenders will need to know your full credit history, employment details, and even spending habits before handing over any cash. But is there a way to skip these affordability checks and still get a loan?  South Africans can find a number of payday loans and personal […]

Urgent Cash Loans – What You Need to Know

Positive delighted bearded man working at computer

Times are tough and budgets are tight. So what do you do when you’re suddenly hit with another expense? Starting from R100 to a maximum loan amount of R10 000, urgent cash loans offer South Africans quick access to a small loan that is to be repaid over a short period.   Let’s delve deep into […]

Personal Loan Interest Rates – Understanding and Comparing Them

personal loan interest rates

Planning a wedding? Want to finish that renovation on your dream home? Or maybe you need to pay off medical bills? Personal loans are useful in a myriad of different situations, but it is important to know exactly what you’re getting into before you find yourself with unmanageable debt. Personal loans work just like other […]

Exploring No Credit Check Personal Loans: Pros, Cons, and Alternatives

personal loan no credit check

Securing a personal loan can be a lengthy process, especially if you have a flawed credit history. So what can you do if you’re strapped for cash? Getting a personal loan with no credit check is one way to expedite the loan process. No credit check personal loan lenders do not use your credit score […]

Personal Loan Guarantor – Understand the Benefits and Responsibilities

personal loan guarantor

Getting a personal loan guarantor is one way to be eligible for a loan if you do not have a desirable credit score or do not meet other requirements, such as having a consistent source of income.  What a guarantor means is someone who takes on the obligation of repaying a lender if you, as […]

Securing a Personal Loan with a Low Credit Score

personal loan low credit score

Getting a personal loan application approved in South Africa does involve a number of factors, including your income, employment history and age. But your credit score is the most important factor of them all.  A credit score is a three-digit number that tells potential lenders all about your credit history and how much of a […]

 Personal Loan Defaults – Understand the Consequences

Personal loan default

Life happens, and sometimes that can mean being unable to fulfil all your financial commitments for the month. But failing to make payments on your personal loan on time can have severe negative effects on your credit score, future borrowing capability, and overall future financial situation. Let’s explore the consequences of defaulting on your personal […]