How to look for safe Loans in Pinetown | Tips to save R456

How to look for safe Loans in Pinetown | Tips to save R456

At some point of our lives, almost all of us need to ask for a loan. There are many reasons for requesting loans. Maybe we want to buy a car, or a house. Or we want to make a trip or take some holidays. However, sometimes we need to take loans for unpleasant reasons: an emergency situation or just because we cannot make ends meet. In this article we will talk about some of these loans you can take out in Pinetown, and also about how to request loans in a safe manner.

Where to Find Instant Cash Loans in Pinetown?

In South Africa, there is a vast variety in terms of credit companies. However, you should be careful since there may be some companies that not play by the rules and might get you into trouble. The good news is that it is fairly easy to know if a credit company is a safe provider or not. What you need to do is check if that company is registered with the National Credit Regulator. If it is, it means that the company complies with all the provisions set forth by the NCA. Since our aim is to show you how to find safe loans in Pinetown, we will only talk about companies that are registered with this governmental agency.

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Wonga is an online company that offers cash loans that once your income has been confirmed, the loan is deposited into account in an instant. This loan is a short-term loan; this means you will have to pay it back in a maximum of six months.

1 Way to Get Easy Cash Loans in Pinetown

Most loans offered by credit companies such as banks or online credit providers request that you meet certain qualifying criteria in order to ask for them. For instance, many of these companies ask you to be under regular employment, to have a bank account, or earn a certain amount of money each month.

With these requirements, many people are ruled out. What happens, then, when you need a loan but you don’t meet the requirements? There is a safe and easy way to get cash loans in these situations: borrowing against your valuables. This system is pretty simple, you go to a pawn shop and tell them the amount of money you need to borrow and you show them the item you want to pawn. This item can be a TV set, a fridge, a piece of furniture or jewelry, such as a ring or a necklace. You will arrange with the pawn shop the amount of money for the loan and the term in which you will have to pay it back (usually within a month), and you leave the shop with the money in your pocket. One of the most reliable credit companies in Pinetown that offer this service is Cash Converters.

3 Requirements to Get Payday Loans in Pinetown

In some occasions, your salary is not enough. This is even more so when you have an unforeseen expense that you just can’t avoid. Some people might turn to a relative in the hope that this person can lend them the money they need. However, sometimes this is not an option and you have no other alternative than asking for a loan.

If you think running out of money only happens to you, let us tell you that you are wrong. So much so, that there is a type of loan to solve this problem. These loans are called payday loans, and they are meant to fill the gap when you are in that period in which you need the money but you don’t have it and when you get paid.

For those living in Pinetown, and everywhere in South Africa, there is an option called Konga, that provides payday loans of up to R5 400. To get them you will need to meet the following 3 requirements:

  1. South African ID
  2. Being over 18 years old
  3. Having a bank account

What are Consolidation Loans and how to Get them in Pinetown?

A consolidation loan is a financial instrument that helps you combine different loan you already have into one. So, for instance, let’s imagine you have taken out a home loan to build your house, a student loan to send your child to university and a vehicle loan to buy a car. These loans are with three different credit lending providers. This means that you have to remember each month what the due date of each of the loans and that you have three different interest rates. Moreover, one of them lets you pay electronically, while the other one makes you go to their offices to pay the installments.

With a consolidation loan you would forget about this. You ask for a loan to pay for the other three loans and you remain only with one loan, one interest rate, and what maturity date. In the end, this might even save you money since you might even get a more convenient interest rate.

In African Bank you can consolidate up to 5 loans and the total amount of money you can consolidate is of up to R250 000.

2 Places where you can Find Student Loans in Pinetown

We all know how important it is to get a higher education. Those of us who are lucky enough to afford university studies might get better chances in getting higher paying jobs and retaining them. Many of us need to turn to a financial company to start that their studies. There are two important banks that offer student loans in South Africa. One of them is Standard Bank and the other is Nedbank. With both banks you will find the following coverage:

  • Tuition fees
  • Accommodation
  • Food expenses
  • Reading material and equipment such as a computer

Getting a loan in Pinetown is easy and safe if you follow our recommendations. Here you learned that you can take different kinds of loans and how to make sure that the company you are requesting the loan from is reliable. We talked about general requirements, and we discussed instant loans, payday loans, consolidation loans and student loans. 

Preguntas Frecuentes

Does Wonga offer payday loans?

Wonga is a credit lending company that offers short term loans and payday loans. They call it “cash advances”. However, they go the extra mile since they allow you to pay it back for a period of up to 6 months. With them it’s not necessary for you to pay them back on your next payday.

How long does it take for Konga to send the money?

Konga takes pride in delivering a fast service to their clients. After you decide the amount of the loan you need and the time period in which you want to repay it, Konga assesses your information and you can have your money at your bank account in less than five minutes.

If I am full time student, can I ask for a student loan at Nedbank myself?

If you are full-time student you will need a guarantor to ask for a loan at Nedbank. Your guarantor can be one of your parents and he or she will have to provide documentation proving identity and regular income. And in order to apply for it you and your guarantor will need to go to a Nedbank branch with all the required documentation.

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