Get Approval on your Mpowa Loan | Fast and Easy Calculator

Get Approval on your Mpowa Loan | Fast and Easy Calculator

If you are here you might need cash to solve a problem and problems need to be solved fast. When talking about quick loans, banks may not be the best solution, since they usually have stricter requirements and routine paperwork. Mpowa is a leading payday loans provider in South Africa. Stay with us and learn how this company works, what you need to do to apply for their loans, and how to contact them.

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Does Mpowa have a Loan Calculator?

A loan calculator is a very useful tool that helps you project how long will it take you to pay back the loan and see the number of your installments. It is important to underline that we are talking about approximate amounts that will be useful for you to get an idea of how your following months would be. We talk about approximate figures because the credit lending organization will only be able to set an interest rate on the basis of your financial situation. The better your credit history, the lowest interest rate you can be provided. 

Mpowa does not offer a loan calculator on their website. We have a solution for you, though. In our site, you can compare different loans offered by various banks or online credit providers. You don’t need to give us any personal information; all you have to do is enter the figure you want to borrow and the number of months you think you will be able to repay it. This is a great tool because it will let you compare the offers and choose the best one. The best part, you can start the process by clicking “Quote Now”.

Can I Fill out an Online Application to get a Loan with Mpowa?

This company is committed to providing convenient and hassle-free loans. They work hard to make this process as easy as possible for you. How do they manage this? Well, they’ve created an online application that you can complete from your bed, or wherever you are, within minutes. After you complete your application you will be requested to sign some documents online and upload the papers proving your income. Then, you will get a phone call from Mpowa confirming you all the information regarding your loan. 

How do Mpowa Short-term Loan Works?

With Mpowa you can take out a cash loan within minutes and, since their application is online, you can do it from your house or your work. The maximum amount of money you can borrow with this company is R5 000. When do you pay it back? You have to pay the full amount of the loan the day you receive your paycheck.

Mpowa is registered with the NCR and complies with all its norms. They are very straightforward in terms of what they charge. Their initiation fees and services fees are published for their clients to check out. If you are unable to pay back your loan, Mpowa will make every effort to agree with you another repayment term.

Another question we get a lot is if you can get an increase in your Mpowa loan. You will be able to ask for increases after you have paid back three loans to Mpowa.

What are the Requirements to Access a Mpowa Finance Payday Loan?

Mpowa strictly works with payday loans. This credit tool is helpful for when you need to fill the gap between your payment periods. If you run out of money and you won’t receive your paycheck in a few days, you can ask for this loan and solve your issues. Also, unlike banks that have strict qualification criteria and that take up to a week to approve your loan, Mpowa promises to approve your loan immediately and make your money available at your bank account at 5 p.m. 

However, there are some requirements you need to meet. You wouldn’t lend money to someone you didn’t know, would you? Well, they need to know you better, too. For this reason, they will ask you the following things:

  • You have to be employed for at least three months
  • You need to provide your valid ID
  • You must have a bank account under your name
  • You will have to upload your latest payslips

You need to have a bank account because the money will be deposited there and the repayment will be debited from that account, as well.

How to Find Reviews about Mpowa Loans?

Every experience is unique, so there are various and different types of comments about a product. The same thing happens with Mpowa; they have very positive reviews and they also have negative ones. However, in this online world, how can you tell what is real and what is not? Perhaps the best way to find accurate and actual opinions is to ask sources close to you. Who do you know who has taken out a loan with Mpowa? Ask them how it all went, and if you want, you can leave us a comment below telling us all about it.  

How can I get in Contact with Mpowa Loans?

Mpowa makes available a wide range of media for you to contact them. It is always nice to have the possibility of reaching out to the company and ask them a doubt or maybe making a claim. If you would like to do that here is how you can get in touch with them:

  • You can fill out their contact form on the website: you need to enter your name, your cell-phone number and e-mail address together with your comment,
  • You can call them at: 0861 228 228, or
  • You can send them an SMS at: 083 736 0165

When you have one of those months when you cannot make ends meet, don’t stress out, take out a loan with Mpowa and keep moving. In this article, you learned how much money you can take out when you have to pay it back, and what you need to qualify for it. Don't panic if you are a bit tight this month, take out a payday or personal loan with Mpowa and have your problems solved.

Author: Cristian Renella

Update: 30/09/2023

Preguntas Frecuentes

I want to take out Mpowa loan but I’ve just changed my job. Can I still get it?

It depends on what you mean by “just started”. Mpowa requests clients to be employed for a time period of at least three months. So, if you’ve been working at your new job for less than that, then no, you will not be able to request a loan with Mpowa at this time.

I live in Robben Island; can I get a loan with Mpowa?

Of course you can. This is one of the best things about this company; since it manages its business online, they can provide financial service to people living anywhere in South Africa. Remember that the whole process is done online and that you don’t need to visit their physical offices to request their loans.

I’m concerned about my personal information, is their site secure?

Mpowa is a company that plays by the rules imposed by the NCR. In order to be approved by this government organization, they need to prove that all their transactions are legal and secure for their clients. This company will treat your information in the utmost confidentiality and will only use it to perform the tasks related to your loan request.

I really would like to settle all of my small loans at once. Instead of having a few debit orders I would prefer only one. Do you help with consolidations?

The financial company, Mpowa does not offer consolidation loans to their clients. Strictly speaking, the company only provides payday loans in South Africa. The interest rate will be set based on your economic situation and your credit history. There is an online application form that you can complete and obtain the money within minutes. 

Do you accept a self-employed person?

There are certain requirements that applicants need to consider in order to apply for a payday loan with Mpowa. The company requires applicants to be employed for at least three months, provide a valid ID, have a bank account under their names and submit their payslips from the last three months. 

How can you apply for more than you offered me?

The private financial company, MPOWA, offers instant loans up to 5,000 rand. If you already asked for this amount of money, you will not be able to obtain more, as there is a limit. The recommendation is to pay the current loan completely and then if you need more money, you can start the application process again. 

What happens if apply for a loan after 5am on a Saturday, when will the money payout?

Usually, after the application process for a loan with MPOWA is completed, the money is deposited in your bank account within 2 hours. However, If you start the application on Saturday after 5am, if it is the last Saturday of a month, you may obtain cash at 12pm. If this is not the case, then you will have to wait until the following Monday. 

Can I apply on Sunday or on a public holiday and get the money same day?

If you apply for a personal loan with the private financial company MPOWA on a Sunday or on a public holiday, the money will be deposited on the following Monday. Usually,for working days, payments are made at 5 pm. Also, if you apply on the last Saturday of a month, then payments are made at 12 p.m.

I just tried to apply for a loan, but I'm really struggling at the end. When they need my banking pin and password, everything comes to standstill.

If you are trying to apply for a personal loan online with the private company MPOWA, and everything comes to standstill, maybe there are some problems with the platform, and you may try again later. You may also consider the option of contacting any agent of the company by phone. 

Hi, I have applied Friday, but no has come back to me.

If you applied for a personal loan with MPOWA on Friday and you have not received any answers yet, then you will need to wait for a certain period of time for the application to be processed and for the money to be deposited. Usually, the financial company takes about a week.

How long does the DebiCheck SMS take to come through?

First, you need to authorize the MPOWA Finance DebiCheck before 4pm on working days and before 11 am on Saturdays to release the loan amount. Usually, the entire loan application processed is analysed on the same day, so you should get an SMS immediately afterwards. In any case, you can get in touch with the company by phone. 

I applied for a loan at 8am now. It's still telling me there are processing. Am I going to get the money? Because it's saying the money won't be released when it's 5pm.

If you already applied for a personal loan with MPOWA at 8 am and have not received any feedback yet, then you will need to wait for a bit longer. This means that if the money is not released by 5 pm, then it can be deposited on the following day. MPOWA may also take up to one week to approve a loan application. 

Can Mpowa give me 8,000 rand?

Mpowa is a South African online financial platform which enables users to obtain money in a simple and fast way. No paperwork is needed as all the application process can be done virtually. After submitting all your details and provide proof of income, then you can obtain up to 8,000 rand. 

How do I submit my bank details?

In order to submit your bank details so that the money of your personal loan with MPOWA can be deposited in your account, you need to create an online profile account where you will have to provide all the contact details as well as your information about the bank account into which you want the money to be transferred.

I need a loan.

If you are seeking a personal loan to cover a need, then you can apply for one with the private financial company called Mpowa. This institution offers an online platform through which you can obtain up to 8,000 rand. The application process is quite simple and fast, which means you can receive your money right away upon approval. 

I applied on Friday afternoon, when can I expect it on Saturday?

In general, after the loan application process for a personal loan with the company MPOWA is finished, the money is supposed to be deposited in your bank account within 2 hours. if you applied on Friday afternoon , you may get the money in two hours or at least on Saturday morning. 

How do I apply for a loan?

In order to apply for a personal loan with the financial platform MPOWA, you will need to complete an online application process. There, you will have to fill in an online form with all the necessary information such as your personal details, employment information and the loan amount you are looking for. The company will then analyse the form and approve it within 2 hours. 

How do I send my bank statement and sign my loan?

The process to obtain a personal loan with MPOWA is quite easy and simple. You just need to fill in an online application and create your account with the entity. Soon afterwards, a loan contract will be sent to you by email. You will have to sing the documents online and upload your bank statements or your payslip. Finally, you will receive a voice call or a confirmation about your loan approval. 

How can I change my loan amount and the number of the months I decided to pay back the amount? Because I've taken out a loan with you.

The only way you can confirm if you are able to change the amount of your loan and the number of months you chose to repay will be by contacting MPOWA directly. Usually, the customer service department will be more than happy to help you out. Also, it is recommended to check the terms and conditions of the existing loan. 

When can I get paid? Because I applied yesterday and was approved.

According to the official source of information, if you apply for a loan with MPOWA, you can obtain same-day payouts for approved lines of credit. Nonetheless, the exact time of payment will depend on several factors such as the time of the day you applied, the bank you use and the time the company takes to process your application. 

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