Discover the 5 Cheapest Loans in Krugersdorp | Estimator

Are you considering taking out a loan? Great, because you are about to find out what are the cheapest loans in Krugersdorp. We will show you how to get instant cash with payday loans, online loans and loans against your items. You will learn where to get them, how to get them, and the qualifying criteria you need to meet in order to request these loans.

What are the Requirements to Get Instant Cash Loans in Krugersdorp?

Generally, when we think about loans we are left with two options: asking for a loan at a bank or at an online credit lending company. Which one is more convenient for you will depend on how much money you need to borrow, how urgently you need it and how good is your credit history.

If you need big amounts of money, you’d probably need to go to a bank since there you will find loans of up to R250 000, for instance. However, if what you need is a small amount of money but as quickly as possible, the best option might be an online loan.

5 Cheapest Loans:

Since banks are the ones that offer more money, they have much stringent requirements. This might prevent many people from accessing a loan since they cannot meet these requirements. With an online loan, such as the ones offered by Cobol, Wonga, Lime 24, Bayport Financial Services, or Konga, it might be easier for you to collect all the information they need from you and they might be cheaper than other loans. 

These instant cash loans allow you to borrow up to R5 000 or more depending on the company. For instance, at Cobol you can ask for that amount and repay it in a maximum of six months. All the companies mentioned above are similar in that they all process online applications in a matter of minutes. This means that if your application is accepted, you will have your money in no time.

In order to qualify for these loans you will have to be a South African citizen or if you are a foreigner, you will need to prove that you are a legal resident of the country. Also, you will only be allowed to take out a loan if you are of legal age, that is, over 18 years old. Most online credit lending companies will require you to have a permanent job and bank account under your name where the loan amount will be deposited.

Where to Find Payday Loans with Convenient Interest Rates in Krugersdorp?

How stressing it is when you are only days away to have your salary deposited in your bank account, but something unexpected happens and all your budget and planning goes to waste. Salary earners know how much money they will have each month, and plan accordingly. However, there are some occasions in which we need to spend more money than we can afford.

This is why payday loans are so useful. They were created for this reason: to help you cover for the unexpected expenses you might have. How do they work? For example, if you take out a payday loan at Little Loans, you can ask for up to R8 000 and you pay it back when your salary is deposited in your bank account. The process is very simple and straightforward: they will request your ID, proof or residence, and proof that you have a permanent job.

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Interest rates will vary from client to client. The reason for this is that interest rates are based on your specific economic situation and your credit record. When Little Loans receive your application, the staff will evaluate your situation and offer you a specific interest rate. However, what we are able to tell you is that Little Loans complies with the regulations enforced by the NCR regarding interest rates. This means that you will only be charged an interest rate permitted by this governmental agency.

2 Best Shops to Pawn your Valuables in Krugersdorp

Although online credit lending companies ask for requirements that are not as strict as the ones asked by regular banks, there are still a lot of people that cannot meet them. If this is your case since you’re not currently working, or you do not own a bank account, don’t get desperate; there are other ways.

There are many companies that offer loans against your valuables. In this case, the security is the item itself. So, for instance, you need to borrow R2 000 to have your car fixed; you ask for a loan at a pawn shop and you bring your cellphone, or a piece of jewelry such as a gold ring. The pawn shop will keep this item until you pay back the loan.

Now, like we said above, there are many companies that offer these kinds of loans; and, for this reason, you should be very careful with which company you choose. We would not recommend you go to a pawn shop that is not registered with the NCR.

Since your safety is our main concern, we’ve decided to show you the 2 most reliable companies that offer this service in your area:

1. Loans against your valuables at Cash Crusaders. This company accepts jewelry, furniture, electronic devices, and power tools. In order to apply for their loans you will have to go to one of their branches with your ID and the item you want to pawn. You must be the lawful owner of that item.
2. Pawn my Car. This company has the nearest offices in Johannesburg. There are some similar companies in Krugersdorp, but we do not feel comfortable recommending them to you since they are not registered with the NCR. Pawn my Car allows you to borrow money against your car. Your car will be safely stored in their facilities until you repay the loan.

We talked about the loans you can take out in Krugersdorp for those people who need the money as soon as possible or that are unable to meet the requirements asked by banks. Recommendations were made us to which are the cheapest and safest loans that you can find in Krugersdorp.