Making a loan is a very personal matter. It is our believe that a personal loan should be handled by a real person, not a computer chatbot. A person who can act when called upon, without transferring your call.
Making online loans is very convenient but remember there will come a day when you need to talk to the 'other side' and do so without draining your airtime being on hold all day. - You will know us on first name basis long before this need arises.
PaydayLoans 2.0 is a very exclusive loan provider. Not everyone who applies can be helped. Affordability matters. For those who do, however, we offer a lower total repayment rate right from the start - Possibly even lower once we get to know you better. Ever tried searching for 'cheap cash loans'. You won't find any, except you just did.
Not that much. Our loans are a help, not a solution and not a trap. With that in mind, we will start you off on a R1000 loan right off the bat and increase the size next month depending on your willingness and capacity to repay the loan within 40-days.
We only offer short-term loans that must be paid in full within 40-days, typically on your next payday date. Do not stress about it. We will provide you with a simple user-friendly calendar so you don't make a mistake. The idea is to get you through the month and not to tie you down for months endlessly.
You will know exactly how much needs to be repaid before you sign-off on the final application. Yes, there will be fees and interest calculations but what matters is Rands and cents and that will be made clear as a bell.
We aim at an all-inclusive, total repay-rate of 20% and less. Oh, and it does not matter one bit if your salary date is 20, 30 or 40 days away, the rate stays the same. That's why you won't find a fancy payback slider thingy on our website. We keep it clean and straightforward, month after month.
It is of the utmost importance that the statement shows multiple months of information up to and including the most recent date. A lack of such detail is the single biggest reason for delayed payouts. One more thing - the statement must be in your name.
Payday loans are not for big item loans. It is small easy to pay off loans, let's call it micro cash loans. Easy to get - easy to get out of. We start at R1000 and might even increase it up to R4000 later on. All loans must be paid back within 30-40 days. You can always re-apply if you want.
We've created a step-by-step illustration to show the whole registration process and the subsequent loan application stages.
Take a look.
You will need to complete a simple straightforward 4-step ONLINE registration process:
1) Who are you?
2) Who do you work for?
3) Where do you bank? (Have your bank account number ready)
4) A short basic monthly income and expenses summary
* After completing the enrollment the system we will promptly email and sms your login details and password.
** You are now registered on our database as a potential client but no loan application has done or filed yet. We are not going to process and approve you based on your personal details only. You are not done. Log into your newly created account and specifically apply for the loan. Remember to email the required documents to firstname.lastname@example.org
R1000 is just a starting point. Even thou we will soon be on a first name basis, we must start somewhere. R1000 is kind of like an opening balance and most likely increased once we have a closer look at your bank statement.
Someone else can only gain access to your account by using your login and password. Your login code and password is your own responsibility and it is essential to keep it to yourself.
We don't accept nor store credit card details.
We also monitor and respond to account changes.
That said, we encrypt all our data sort of like bitcoin does.
Repayment is with ease. A collection instruction will be presented during each application. Electronically sign this and we will make the collection as agreed.
All documents and agreements are legally binding, electronically signed as stipulated by the ECT bill (Electronic Communication and Transaction Act) Think of it this way, whenever you do an internet bank transaction, you legally bind yourself to the transaction by signing it by means of a login and clicking the OK buttons. Terms and conditions apply.
A legally prescribed criterion is used in the calculation of all costs.
1) an Initiation fee,
2) a Monthly fee,
3) Vat is charged on the above Initiation and monthly fees,
4) Interest is charged.
This will be explained in detail on the application page with the heading -
PRE-AGREEMENT STATEMENT & QUOTATION FOR SMALL CREDIT AGREEMENTS
( in terms of section 92 of the National Credit Act34 of 2005)
Yes, we have sales on our loans, big proper ones too. Take a look at an email offer we ran recently. Imagine saving more money buying that amazing something on sale than is the cost of borrowing to get it. We are different.