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Where Can I Find Loans online through Direct Lenders?

When you think about loans, probably the first thing that comes to your mind is banks. However, that is a thing of the past. Nowadays, there are other alternatives that might save you time and money. Here we will talk about direct lenders that offer online loans in South Africa.

What is Credit Provider in South Africa?

Credit providers are companies that provide financial services to individuals. Within these services we can find loans. In the past, most credit providers were banks, but today we can find other companies that offer these services. Direct lenders are a good example, however, some people might feel uncomfortable with dealing with these companies since they are unsure if they are trustworthy or not. Luckily, this is fairly easy to find out in South Africa. If you need to know if a company is legit you should check if it is registered with the NCR. If it is, it means that it will abide by the standards and rules set by the National Credit Act.

2 Personal Direct Loan Providers in South Africa

Direct loan providers in South Africa lend money to individuals directly, no middleman involved. This will benefit you since no additional fees will be charged and the process will be straightforward. You know who will lend you the money, at what terms, and who to contact in case something goes wrong.

There are two excellent options for personal loans with direct providers in South Africa:

  1. Wonga. With this provider you can borrow up to R4 000 when you are a new client and up to R8 000 if you’re already a customer.  
  2. Konga. This company can lend you a maximum amount of R5 400 that you can repay from 4 to 35 days.

What are Payday Loans and how to Find them Online through Direct Lenders in South Africa?

In this economy, getting by might sometimes be a challenge. In South Africa 29.1% of the population is unemployed. However, even if you are lucky enough to have a job, you might be a little short of money some months. But you know what? You are not the only one and for that reason there are direct lenders that specialize in extending you a helping hand with diferent type employee loans for you .

For those months were your salary is just not enough because you had an emergency or unplanned expense, a payday loan might be the solution. This financial instrument allows you to borrow the money you need to fix your issues; and, when you receive your salary you pay it back, usually you will pay this loan in less than 1 month. 

Since there is almost nothing you cannot do online these days, payday loans are not the exception. There are many online payday loans for you to choose from. Try to always check that the company is duly registered with the NCR to be on the safe side. We’ve done this, and we can safely tell you that one excellent and secure option can be Little Loans.

What is the best way to find quick loans up to R8 000?

Usually, when we need money quick is because we’re in the middle of some kind of emergency. Whatever the reason you need the money in such an urgent way, the best way to find quick loans might be through an online lending provider. These companies tend to have less stringent requirements and have your loan approved within 24 hours. The maximum amounts you can borrow, will depend on the specific company you choose, fortunately many of them offer loans up to 8 000 rands.

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Is it Safe to Get Unsecured Personal Loans through Private Lenders in South Africa?

This is a tricky question indeed. Most private lenders are people that have some extra money, and they want to make it work for them. They usually charge much higher interest rates than banks or direct lenders, and the terms might not be straightforward and clear. So, our advice would be to walk away from these loans and trust a company that complies with the regulations set forth by the NCR. For this reason, we cannot provide you with a list of private loan lenders.

This is extremely important because if you borrow money from an entity that is not registered in this government agency and you have a problem with the company, you have nowhere to turn to. Besides, some private lenders might use intimidating methods to make you pay.

However, if you run a business and need money to invest and grow your company and want to avoid banks, you can think of Peer to Peer Lending. There is an excellent P2P platform in South Africa called Peerfin that matches people who need to borrow money and people who wish to lend money. The platform checks the trustworthiness of the parties involved making it a safe procedure.

Is Lending Money to Family a Good Idea in South Africa?

Family is there to help each one of its member, isn’t it? However, when it comes to money, things might get a bit blurred. In every family there is one member that is more financially stable, and he or she might become the family bank. Everyone turns to this member when they are pressed for money. If this is your case and you’re considering if it is a good idea, all we can say to you is that you evaluate the situation carefully. How often do they ask you for money? Do they return it to you? It’s always nice to be there for your loved ones, but you should set clear terms so that the relationship is not damaged.

1 Way to Fund your Private School Education with a Student Loan by Direct Lenders in South Africa

There are not many options when it comes to student loans through direct lenders in South Africa. In general, school loans are offered by the biggest banks of the country. However, there is an option that you can take into account if you want to fund your studies.

Fundi is a company that works hard to provide convenient school loans so that no South African is left behind. If you run a check in the NCR records, you will find that Fundi is registered as a provider under the name of Fundi Capital (PTY) Ltd.

Now you know that banks are not the only option for you when you need to borrow money. You’ve learned that in South Africa there are direct lenders that offer trustworthy financial solutions to your every need. We tried to give you walk you through the key points to help you find the best online loan.

Leave your question

Questions and answers

I need urgently R50,000.

If you need R50,000 you could ask for a loan at direct lenders online. This way, you might be able to have access to the money faster than if you asked for a loan at a bank. However, you should be careful enough to check the reliability of the direct lender. 

How do I know if qualify for a wonga loan?

If you wish to ask for a loan at Wonga you will need to be over 18 years of age, be a South African resident, and providing proof that you will be able to repay the loan. For you to account for all that, you will have to provide Wonga your ID, your last payslip and the details of that account.

Is my information secure with Little Loans?

Your personal and financial information will be treated with the utmost care and confidentiality by Little Loans. In fact, they have state of the art technology in place for the end of protecting all the information that you provide through their application form. All your data will be encrypted so you needn’t worry about it.

Does Fundi offer only loans for higher education institutions?

Student loans for higher education are one of the many financial solutions that Fundi provides South Africans with. You can also ask for a Fundi loan to pay for a private school for your children, for instance. Also, you can find finance to attend to short courses that will help you advance your career.

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