4 Requirements for Bayport Loans in SA | Fast Approval
If you work hard every month and still you feel that you are not living the life you want, this article is just for you. Like many South Africans, you may want to buy something you’ve fancied too long now, or you want to take that trip to America, but you cannot afford it right now. At Bayport, you can take out personal loans to fulfill your dreams. When you finish reading this article, you will know how these loans work in SA, how to apply for them, where to find their branches and the 4 requirements you need to meet to take them out.
How does Bayport Loans Work?
Bayport Loans has been in the South African credit lending market since 2004, and now is one of the largest private lenders. Their mission is to provide credit tools to South Africans, which are accessible, and easy to apply for. Besides, their vision is to become a valuable provider for its customers by offering client-tailored solutions.
With this company, you can apply for a personal loan that starts at R1 000 and that has a maximum of R250 000. This amount of money can work as an amazingly versatile tool that you may use for whatever reason.
For instance, you can start making that makeover you always wanted in your kitchen; if you’re tired of public transportation, you can buy a car and forget about checking the bus schedule, or if you are tired of working as an employee you can make your dream come true and start your own company.
You can trust Bayport since they are duly registered with the NCR. This is really important because this means they will only work with rates and fees approved by this institution.
4 Requirements for Bayport Loans
Bayport Loans aims at providing credit solutions for its customers and they want to do it as easily as possible. Why? Well, their objective is to reach out to as many South Africans as possible. Therefore, they try to keep it simple.
For you to request a personal loan with Bayport Loans you should first know the information they will ask from you. There are basically four requirements you need to meet. Let’s check them out.
- You will be asked to provide a copy of your South African ID
- You will have to show them your last bank statement
- You will need to give them a copy of your last receipt of salary
- You will be requested to present a certificate of residency.
You need to prove to them you can afford to pay them back the money you borrowed. These requirements are no different from the ones asked by other creditors.
What do I need to Know about the Bayport Loan Application Process?
At Bayport Loan you can take out either a short-term or a long-term personal loan, depending on the amount of money you wish to borrow. The maximum loan term you can have is of 84 months, while the shortest loan term is of 6 months. Remember, the longer you take to pay back your loan, the more money you might spend.
Applying for a loan at Bayport Loan is super easy. First, if you are new to this company, you will be asked to register and then you will be able to fill out the online application. Of course, you can also go to one of their branches if you wish to talk to a staff member in person. However, time is a valuable commodity, and Bayport knows it. This is why they invest in technology and allow you to do your whole application process in the comfort of your house.
How can I Use a Personal Loan Calculator to See if Bayport is the Right Option for me?
Bayport Loans offers loans with convenient interest rates per annum. However, interest rates vary from person to person. Why? This is because the creditor sets an interest rate based on your financial information. Factors like how much money you earn or if you already have other loans, or if you are late with some credit card bills will have an impact on the interest rate you will be offered.
Personal loan calculators are tools that help you simulate the loan you are about to request. You need to enter the amount of money you want to borrow and the time period in which you think you can repay it. For instance, if you want to borrow R50 000 in 12 months. Then, the calculator will show the approximate repayment amount you will have to pay each month.
In our site, we have a tool that allows you to compare different loans. You don’t need to provide any individual information. You also have to choose the amount of the loan and the term, and you will be given different options of banks and lending companies offering that type of loan. You can even start your application by clicking Quote Now.
How can I Find Bayport Loans Reviews?
There are many positive reviews on the loans offered by this company. Most customers thank this company for the kind assistance provided by their staff members. Others are happy with Bayport Financial Services because the application process was super easy. Some tell their happy ending: being able to buy a car, for example. There’s a long list of happy clients.
Not everybody had positive experiences, though. However, Bayport did not leave those complaints unanswered and promised to direct the request to the appropriate department.
You can also ask your friends, relatives or coworkers if they have heard comments about this company. Possibly someone you know has taken out credit at Bayport and has an actual experience to tell you about.
Can I take out an Instant Loan at Bayport?
If you have a personal loan with Bayport Loans, you can have access to instant loans. You can apply for a My Monthly Booster and get cash right away from R500 to up to R1 000.
Do I Need to Take Insurance for my Loan at Bayport?
When you request a loan with Bayport you will be also taking a Credit Life Insurance. This insurance will protect you in the event you can no longer take responsibility for your repayments. For instance, if you have an accident and after that, you become permanently disabled and unfit to keep working, this insurance will cover for the outstanding amount of your loan. If you do not want to take this insurance, you can absolutely opt-out from it. However, you are required to arrange another insurance that provides the same coverage. You will have to submit the documents proving that you have this insurance.
Find the best loan of South Africa
How can I apply for a Student Loan at Bayport Loans?
Bayport Loans offers personal loans that you can use to cover any expenses you might have. If you want to pay for your studies, you can do so with a Bayport personal loan. You will be in charge of paying the tuition fees and all expenses you have as a student.
Also, if you want to take out a loan to start a business, you can do so! When you request business loans in regular banks or other finance providers, you need to meet stringent requirements and you might be left out. Forget about it and take out a Bayport Personal loan and start your entrepreneur journey.
Is there a Finance Consolidation Loan in Bayport?
You can use the money you borrowed from Bayport Loans to consolidate other loans. You will have to pay off your other loans just like you would with a regular debt consolidator offered by the main banks of South Africa. In this way, you will only have to pay monthly installments to Bayport Loans.
If you are looking for a specific debt consolidation loan you can consider the ones offered by Absa Bank or Nedbank, for instance. Use our site to compare loans and find the best credit solution to your specific needs.
How long does Bayport Take to Approve a Loan?
After you filled out your online application, Bayport will start checking your financial history. Is it true that you work where you stated you worked? Do you have other loans taken out with other banks? Are you up to date with the payments of your credit card? This process usually lasts a whole week. However, sometimes it may take a little more time due to some paperwork problem, such as you not providing the appropriate documentation. If this should happen, your loan may take an extra week or two to be approved.
How Can I Contact Bayport Loans in Johannesburg?
Bayport Loans has a strong presence in the province of Gauteng. There you will find branches which you can visit if you want to have a one-on-one conversation with a sales representative. You will find Bayport Loans offices both in Johannesburg and Pretoria. You won’t be able to contact them on Sundays since they are closed.
These are the contact details:
- Johannesburg: +27 10 492 4967
- Pretoria: +27 12 492 1395
Can I take out a Loan at Bayport if I Live in East London?
If you live in South Africa, you can take out a loan at Bayport no matter which city you live in since you can do everything online. But, if you’d like to drop by at one of their branches, and you live in Eastern Cape you can do so. There are offices in East London and in Port Elizabeth.
How Can I Contact Bayport to take out a Personal Loan in Cape Town?
If you live in Cape Town and want to request a personal loan with Bayport, you can complete their online application. If you’d rather call them or pay them a visit, you can do so. There are three Bayport branches in Cape Town.
How can I Find Bayport Loans Contact Information in Durban?
Durban is the third biggest city in South Africa, and of course, Bayport is there. You can call them on +27 31 492 2140. They open their office Monday-Friday from 8:30 a.m. to 5 p.m and on Saturdays from 8:30 till 1 p.m.
When do Bayport Loans Open in Pietermaritzburg?
near the Tatham Art Gallery. If you’d like to contact them, you can call them on +27 33 342 3444.
Is there a Bayport Loans Branch in Bloemfontein?
Bayport has expanded all over South Africa and Bloemfontein is not the exception. There is a branch of Bayport in the judicial city of our country. You will find a Bayport Branch in 101 St Andrews St. They are open from Monday to Saturday. Also, you can call them on +27 51 492 0240.
Does Bayport have Offices in Kimberley?
If you live in the capital of Northern Cape and you need to talk to a Bayport staff member, you are in luck. There is an office of Bayport in Kimberley. You can either go to the physical office or call them. Their phone number is +27 53 492 0040, and their office is near the Civic Center.
What is Bayport Loans Contact Number?
The main offices of Bayport are located at Sandown, the important suburb of Johannesburg. You can either go to their offices or call them on +27 (0) 87 287 4000. They also have an e-mail address where you can write them to email@example.com. They work from Monday to Saturday, and they are closed on Sunday.
For over 14 years, Bayport has been providing SA with accessible and easy to get personal loans and insurance. This company can offer you services that are trustworthy and help you solve your financial needs. Now you know that you can apply for their loans for whatever reason: buying a vehicle, starting a business, making a home repair, paying for your studies, and more. You also found out that there are many Bayport offices all over South Africa that you can visit if you want. You’ve learned about their excellent reputation and the loans and insurance they offer.
Questions and answers
Can I apply for a loan if I'm self-employed?
If you are self-employed and wish to obtain a loan with Bayport Financial Services, it is important that you comply with some requirements. You need to make sure you have a steady income, as the company will ask you to provide proof of it by showing your latest payslip and the last three months' bank statements.
Hi, I am self-employed and make more than 7600 rand monthly. My credit score is below 600 rand, could I qualify for R50,000 loan at Bayport?
To qualify for a personal loan of 50,000 rand at Bayport Financial Services, it is important to comply with certain requirements. After you hand over all the necessary documentation, the institution will carry out an affordability assessment. In other words, the company will check all the information with the credit bureau and will determine, according to your salary (7,600 rand), how much money you can obtain.
Do I qualify for 50,000 rand?
To know if you qualify for a loan of 50,000 rand with Bayport Financial Services, you need to comply with four basic requirements. You should provide a copy of your South African ID, your last bank statement, a recent payslip and a certificate of residency. Also, you need to have a positive credit record and enough affordability capacity.
Can I get a loan with Bayport if it is a weekly salary?
Yes, of course. This is so because the main requirement for clients who wish to obtain a loan with Bayport Financial Services is to be able to show proof of income with a positive credit record. To demonstrate this, you should provide a recent bank statement. The company will determine if you have enough inconme to afford the instalments.
Hello.I lost my job. Now that I'm employed, I want to pay off all my debts and be able to pay back only to Bayport if they can give me the money I want to close off all my debts. Can you help me?
If you need money to pay off all your debts, you can apply for either a debt consolidation loan or debt counselling with Bayport Bank, which are two available financial solutions to deal with existing debts. In order to be eligible, you will need to submit a copy of your ID, proof of residence, latest payslip and the bank statements from the last three months.
How long before loan is paid out after approval?
If you apply for a personal loan with Bayport Bank, usually the process will take up to one week to be approved. It is also important to consider that if there is a problem with the paperwork and bank application, it may take a little bit longer. The bank needs to analyse every single detail to determine whether a loan can be granted or not. Once it has been approved, the money will be deposited in your bank account.
Can I apply for a Bayport loan if I'm a non government employee?
Of course, you can. In order for you to be eligible for a personal loan with Bayport Bank, you need to comply with some basic requirements. Applicants should submit a copy of their South African ID, their last bank statement, the last payslip and a certificate of residence in the country.
What can I get at Bayport if I am under debit review but working under government
If you are under debit review, you will probably not be able to receive any type of loans with Bayport Bank. That is to say, applicants must have a favourable credit history with no debts and show proof of income by providing payslips. Also, the bank will carry out a deep analysis of the applicant´s economic situation before granting any lines of credit.
I'm still waiting my feedback coz I applied a loan since from last week is now 2 weeks I don't know what happens.
The application process to get a loan from Bayport Bank involves creating and activating an online account with your contact details. Then, after aplying, you will need to upload the necessary documents. Once everything has been examined in detail and approved, you will need to accept the loan offer as well as the terms and conditions. Immediatley after the application passes the final revision, the funds will be deposited in your bank account. Probably, you need to make sure to login in your account and accept the loan offer.
Goodday, would Bayport consider helping an existing client who chose bad financial institutions to handle money matters only to be put further into debt?
In order for Bayport Bank to grant a loan, it is important to meet all the requirements and hand over the necessary documents. The financial company will carry out a thorough affordability assessment to determine the client's payment capability. Based on the result, the bank will decide whether the client can access the money.
I have a loan from Bayport from last year and I paid it monthly. My question is, is it possible for me to make another loan at Bayport? cos I'm still paying that one.
Unfortunately, if you are still paying for a loan at Bayport Bank, you will not be able to apply for a new one. That is, when you finish paying off your current debt, then you will be elegible for a different financial plan. Another option you can consider is to ask for a Quarterly Booster with which you can take up to R2.500 every three months.
Can I apply for a Bayport loan if I'm a non government employee?
To apply for a Bayport Loan, there is no need to be a government employee. The bank agents will need to check some information before providing their clients with credit solutions. Basically, you will be asked to hand over a copy of your South African ID together with your bank statement, a copy of your last payslip and a certificate of residency.
How much is my installment for 60 000 for 4 years?
For us to help you figure out how much you would pay in installments for a R60,000 loan over 4 years, we would need to know the interest rate that Bayport can establish for your loan. Let us suppose this rate is set at 22%. In this case, you should pay 48 installments of around R2,200.
Can i apply for a loan of r30 000 and what will be my installment?
If you are able to request a R30000 personal loan at Bayport or not will depend on your meeting the requirements. The installments will be calculated on the basis of the repayment term you chose and the interest rate Bayport decides to set on your loan after reviewing your financial information.
Does it require for an administration fee before getting the loan?
Actually almost all banks and financial organizations that offer loans charge an administration fee. This is a set amount of money that these institutions needs you to pay in order for them to be able to carry out all administrative tasks related to the loan you are requesting from them.
I am still paying for a loan at Bayport, can I get another loan of 7000 rands?
You will not be able to request for another loan until you finish paying off the loan you already have with Bayport. However, there is an alternative that you might want to consider. You can request for a My Quarterly Booster which will allow you to borrow an extra R2,500 every three months.
Good day if you get an opt number from Bayport for a loan can they do it through a bank .Thank you
I'm not quite sure if I understand your question. If you mean that you need a personal loan from Bayport (that can be of up to R250,000 and paid in a maximum of 84 moths) and want to pay through direct order from a bank account, you can absolutely do so.
How do you know if your loan is approved and how long it takes to be paid out?
In order to find out whether your loan has been approved by Bayport, you will have to wait for the company's reply. Bayport will carry out an affordability assessment by going through your information and documents provided. If it has been approved, you will receive a loan offer. A soon as the offer is accepted, you will receive the loan.
Hi, is it possible to take loan while you have two other loans that you are about to finish paying? Is it possible that you can make one payment for all?
The ideal situation is to apply for a consolidation loan that would help you unify all your debts and expenses together, so you would only make a single payment for all. At Bayport, you can ask for a personal loan or My Budget Booster loan. The company will analyze your situation if you have two loans that are still unpaid.
I am looking for a loan and have a credit score of 664
If you are looking for a loan with Bayport, yuo can get a personal loan that can be of your benefit. Short term loans offered at Bayport can help you get what you need. The maximum is of R250.000. You will need to register in order to find out whether you qualify for a loan at Bayport.
How much is the interest of R30.000 for 24 months?
In case you decide to apply for a personal loan of R30000 at Bayport, with a term of 24 months, then your repayment per month would be of R1,827.78. You should know that the interest rate starts from 20% , but the rate depends mainly on the risk profile of the customer.
I wish to apply for a loan to consolidate my African Bank loans, can u assist me?
Sure! We can tell you there are few banks prepared to consolidate your debts. One of them, and very popular, is Direct Axis. If you decide to get their product they will be in charged of cancelling your debts, which means, you won’t have to worry about all the hassle that involves. Then, if after paying all your loans, there’s still money from the loan left, they let you spend it on whatever you want. One of the benefit is you’ll receive fixed repayments.
May I pleased be informed about Bayport loans?
We can certainly do that! This bank has a maximum loan request of 250000 rands and, the whole process is carried out online. If we refer to the requirements, they’re like with any other company: SA Identity Document, proof of address, having a steady job and submitting payslips supporting that information. As with any other bank, your credit record is the piece of information they take to set the loan amount available for you.
How much will I pay monthly if I borrow r20 000 for terms of 36 months?
You can use Bayport online calculator to know the cost of your loan. In this case, you’d have to pay R1,100 per month and, the total cost would be around R39,645. If you can choose to pay the loan in less time, you’ll have the chance to save a lot of money. For example, with 6 months less, that is to say, to cancel it in 30 months, you can save around R3000.
Can I have a consolidation loan?
Yes! You just need to check you meet the characteristics to qualify for a loan and then, start the process to apply. Once you get the money, you use it to cancel all the debts you accumulated and, from that moment on, you’ll have only one installment to cancel per month. By doing this, you’ll see your finance will get much organized.
Can i get R 30.000 loan if my salary is R 8000.00 a month?
You can apply for a loan at Bayport of R 30 000 and repay for it in 4 months by financing monthly installments of R 677
If one`s credit profile is not yet updated at Transunion but obtains the paid up letters, will that hinder an approval somehow?
Yes, in fact, that situation may affect the approval of the loan application because the bank has to make sure the information about you is real and current. Besides, they won’t lend money unless they can verify the client’s payment capability and, as you know, credit profile is of paramount importance to do that. You may have to wait until your credit profile is updated to make sure.
Is the company in Johannesburg?
Yes it is
Can I finance a loan with cash?
Yes you can
I want to apply for a loan but I can’t reach the form
You will only be allowed to get and complete the form once you start the application. To start it, please, contact Bayport Financial Services and let them know you’re interested in one of their loan products. You can call them on the phone to find out about your options, you can go to a Bayport branch to ask for the form or, you can go through the process online.
Can I apply for a loan of r500. If so, how much will I pay?
Not with Bayport, as their minimum amount to borrow is a thousand rands. If you consider to high up your loan up to that minimum, the cost of the loan will depend on the months to pay for it. For instance, if you pay 1000 rands in 6 months, you’d have to return 1,779.79 rand. But, if you extend the repayment over a year, the total cost would be of 2,360.04 rands. That’s why, the less you take to repay it, the less amount you’ll have to return.
I need a loan of r50000. How can I pay for it?
The repayment term that Bayport Financial Solutions has to offer their clients goes from a minimum of 6 months up to a maximum of 72. You can decide, among those terms, how to repay the loan. For instance, if you choose 24 months, the total cost would be of R71,998 more or less. If you want to pay it earlier, the total cost would be lower.
How can I apply for a loan online?
You can apply in the simplest way! Begin by creating your account at Bayport. You’ll start this step just with your email address, cell phone and ID number and your name. As simple as that, you have your own account to ask for the loam and, later, to manage it through it.
I want a loan for December so that I can meet all my needs
Bayport Financial Services can lend you up to a maximum of 200,000 rands. Their service includes going through all the steps in the simplest online procedure. From getting the quote up to even submitting the documents, you can do it from your house. Feel free to use their calculator first, to manage the terms of your loan that best suits your budget.
Can I apply for a Bayport loan?
If you are capable of presenting your SA Identity Document, the last bank statement, and the copy of the last pay slip you received, you can start your loan application to see if your credit history allows you to get the money you need. Keep in mind, all documents must be current and valid in order to serve as proof of your identity and of your salary.
How much for a R76.000 loan at Bayport to pay in 30 months?
As a general estimation and taking into account the terms you’ve just said, we can define your monthly payments on R3,783.86. All the same, that cost will be affected by the interest rate Bayport sets for you. That rate is always decided according to the applicant’s risk profile. So, if you have good credit history, you have chances of getting a lower rate.
How much do I have to pay for the calculator?
That is a free service
I was applying for loan but I don't know what to do next. Can you help me?
Yes! As we don’t know where you get lost we’ll simplify all the steps for you. The first step is to use Bayport calculator to decide on the terms. The second step, is to generate your own Bayport account providing them information about your identity and to contact you. The third step is to complete the loan request from your Bayport account, submit the documents they’ll ask and, wait until you get Bayport’s response. From then on, one of their consultants will guide you until you get the money and pay it back.
I want a loan. How much is going to be my monthly instalment?
The payments vary as regards the amount the client needs and, the term to repay. I’ll show you an example with Bayport for you to have in mind. For a loan of 60000 rands to cancel over a year, your installments to pay would be of 6,425.77 rands every month. This means, the total cost of the loan may be around 77,109.26 rands.
If I earn r5900 can I get a loan?
Your minimum earnings requested may vary according to the loan amount you want to ask for. Let’s see an example to clarify this. For a loan quote of R40,000 to pay over 2 years, the approximately monthly payment would be R2,633. So, your income must be high enough to cover that amount plus the regular expenses every citizen must pay every month so as to avoid getting problems repaying the loan.
If want to borrow r30000 to pay for 18 months, how much is gonna be my instalments per month?
If you want to cancel R 30000 in 18 months, you may pay R 2,440 each of the instalments. At the end of the term, you would have paid an approximated total amount of R 43,936. Despite everything, these are just approximated calculations as, your rate will be affected by your particular information. That’s why, this estimated quote can guide you on your loan but, you must apply to know the official cost of the loan you need.
What are requirements when applying for a loan. I have just started a good job and I don't have yet a pay slip as my salary is being transferred to my bank account and I need a loan. My name is Makhosi 0631911940
Hello Makhosi. Basically, the requirements asked refers to prove the clients is older than 18 years old, is from South Africa and has a stable job. this very las point is really important and, the client needs to be paid for at least the previous 3 months. So, if you just started working, you may have to wait for a few months before applying.
I need a personal loan of r50 000. Can I have it?
Sure! Start by calculating the cost of the loan based on the terms you choose. For example, if you want to pay the loan in 18 payments, you would have to pay around 3,900 rands each of them. But, if you want to cancel the credit sooner, let’s say in 12 payments, the cost per month would be 5,400 rands approximately. Once you’re sure about the terms, you can send Bayport your information for them to approve your request.
Do I qualify?
Qualifying for a Bayport loan is only a matter of complying with the following requirements. Every client has to be the owner of a SA ID or Smart ID and, present a copy of such document. In addition, they have to be employed permanently and present bank statements for the previous months. In addition, Bayport applicants have to receive payslips for their job and, give a copy of it to Bayport. These requirements put you one step closer to get the loan.
Can i apply for a loan as i m under debt review?
Unfortunately, you must first make sure you have a clear or good credit record and then you can apply for the loan and not waste time. You can check your credit record at your bank.
I would like to burrow 50000 but for 5yrs, how will be my installment each month?
If your credit score helps you get a low rate, 9.25% for example, you will probably have to pay R 1044 per month. But, if you get a higher interest rate, let’s say 23 %, the cost of the loan per month may reach R 1410. These are just examples to estimate on your monthly installments as, you will know how much to pay when you go through the entire loan procedure.
Can I be contacted?
If you enter Bayport web page, you will find the option to ask them to get in touch with you. By providing them with your personal and contact information, they will have one of their agent calling you to discuss over your needs. Of course, there’s always the option to go to their branch to have a conversation in person, if you like to have a face to face interaction.
How do I know if I qualify? If I’ve already signed the contract form means I qualify?
It depends what form are you referring to. At the beginning, you find the application form which serves to help Bayport know your information. After Bayport answers that form and you submit the documents, they will inform you if you can apply for the loan. When you sign the contract means you get the loan but, pat attention to what the contract states to be sure.
Do I qualify for a personal loan?
In order to know if you qualify, you ought to go over Bayport’s loan application. If you meet the basic requirements mentioned in the article, you’re one step closer. Next, the entity will put your information under some checks to find out if you can afford to pay for the loan. If your credit history is good and you have enough income to settle the instalments, you won’t find any problem to be granted the loan.
Do I qualify for r30000 loan if I'm earning r3400 per month?
Bayport has one exclusive budget calculator to assist you on this matter. You will have to submit your income but, they also ask you about the expenses you pay every month (cellphone, electricity, credit cards, etcetera). At the end, you will see how much of your salary is left per month to know if you can afford paying for a loan.
Can I apply for a loan with my old account?
As long as it’s still active, of course you can. You can log in and, as your information is already uploaded, they only step left to do is to updated for Bayport to have real data about you. Then, you can go on with the steps to get money borrowed. If you find out your account has been closed, don’t worry as you can open a new one and go over the process.
Hi! I am asking a loan of r10.000, thank you
If you have already decided Bayport has the loan you want, you can get online and apply for a loan with them. To start, you must register to open your Bayport account to manage every detail of your loan. Then, you complete the application with your information and expect an answer from Bayport shortly.
How much should I pay per month if I borrow R 10000 over 24 months?
We can use that information to calculate simply an estimated cost of your loan but, bear in mind, the final offer will be the one Bayport states based on your credit history and other information. A 10 thousands rands loan payable for two years will have monthly instalments of 674.06 rands approximately. From these monthly payments we can calculate the total cost of the loan in around 20,221 rands.