Compare the best loans of South Africa and find the lowest rate
Do you need urgent cash? Are you searching for the right lending company for you? In the following lines, you’ll be informed about two short term loans companies from South Africa. You’ll find information about BFS and Wonga Loans.
The information will be expanded in this way; first, you’ll encounter BFS’ characteristics and requirements followed by its contact details. Second, there’ll be a brief explanation on how can applicants use Wonga online calculator that will help them have an approximated idea on the cost of the loan. Then, there will be shown Wonga rates and quotes. Finally, you’ll see the email addresses and phone numbers this entity offers to get in contact with them
This company provides their clients with quick money to pay in a really short time. It’s a fine solution for an unforeseen expense like, a medical bill arriving before your pay date, for example. Getting a short term loan with Barko Financial Services allows people to pay for that urgent expense and then, repay the loan when they receive their paycheck. In this way, they can avoid stressing about finding ends meet.
What are the Requirements to apply for a BFS loan?
Among the documents BFS requires, you should submit bank statements, payslips a proof of address and, passport or Identity Document. This documentation should serve to check you comply with the following requirements: you must be 18 years old or older, South African citizen, and be employed for a minimum of 6 months previous to the moment in which you apply for the loan. So, if you meet these requirements and, you can provide BFS with the proper documents to back it up, you’re ready to apply.
BFS Contact Information
Next, I’ll list the different ways you can get in touch with BFS:
+ BFS’ office telephone number is 013 - 235 1030.
+ Also, there’s a toll free number, 080 777 3777.
+ For those who prefer to write emails, BFS’ email address for enquiries is email@example.com.
+ The headquarters address is 59 Burger Street in Lydenburg, 1120.
Wonga Loans Online Calculator
Let’s move on to Wonga, which also offers short term loans. In this case, I want to expand on the online calculator you can find in their webpage.
By entering the quote and terms, you can get the interest rates and fees you’ll be charged. This is an amazing tool as, you can enter different terms until you reach a total cost you can afford so, you can apply knowing you won’t fail on the repayment.
Now, I’ll show you an example for you to see in details what is it about. If, for instance, you choose to repay R3010 on 30 days, you’ll get R594.94 on interest and fees. This will leave the total cost of the loan on R3614.94. But, if you choose to repay that same amount over 3 months, you’ll have to pay R804.39 on interest and fees, which means you’ll pay 3 monthly installments of R1274.80. So, in this case, the total cost will go up to R3824.40. As you can see, you can go over different terms and, decide on the one that fits your needs.
Wonga Loans Information
In this table, there’s shown some useful information about Wonga
New clients: R4000. Existing clients: R8000
16.5% for loans up to R1000
Sat: 8 to 13. Weekdays: 7 to 19.
Be a SA citizen, own a bank account, have a cellphone number, provide Wonga with proof of income.
0861 966 421
What are the rates for a Wonga ?
Wonga will charge some fees over the loan you request. For example, there’s an initiation fee of R16.5% for loans under R1000. If you request more than R1000, this fee would be the 10% of the loan amount. Besides, they charge R69 on service fee and, 0.1% on Interest rate. Bear in mind, the service fee is added every month the loan lasts but, the interest day is charged every day of the loan length.
If you’ve never taken a loan with Wonga, you can request up to R4000 but, if you’re an existing client, the amount can go up to R8000. You can cancel the loan in just one installment within 30 days or, you can decide to cancel it over a total of 6 months, that is to say 6 installments. Just keep in mind, the longer the period, the more expensive the total cost will be. That’s why I advise you to use the online calculator to find out how much you’ll be charged on fees and interest.
How to contact Wonga Loans?
Now, as I did with BFS at the beginning, I’ll list Wonga contact details:
+ There’s only one phone number, which is 0861 966 421.
+ You can write to firstname.lastname@example.org to elicit doubts about the application.
+ But, if you need to ask about payments, you should email to email@example.com.
+ Wonga assistants works from Monday to Friday, from 7 am to 7 pm and, on Saturdays, from 8 am to 1 pm.
+ Also, they offer a number and email address in case you need to report fraud. The email address is firstname.lastname@example.org and, the telephone number is 0861 968 424.
Besids, I want to mention another lending entity placed in South Africa: Cash Converters. This company has 3 different short term loans alternatives for their applicants to choose. These are:
As you can see, you have different options for short term loans. You’ve read about companies from South Africa offering loans but, with different options and terms. So, now it’s up to you to analyze them carefully and decide on which one is the perfect company for you.