It is a fact that two-thirds of adults globally live without a bank account citing a lack of money as the obstacle to use of formal financial services. Figures also show that one-third of adults blame the cost of opening and maintaining an account or the banks being too far away.The South African context is not any different. In order to change these glaring disparities, EC loans came on the scene.
EC loans has become a leader in providing personal loans, blacklisted loans and cash loans across South Africa. With a quick online application process that guarantees same day approvals, EC has become a haven for cash strapped consumers.
Cash loans from EC offer cash amounts of up to R120,000 to clients who include blacklisted ones with a guarantee of same day approval. Loan repayment periods depend on customer’s credit risk but the standard minimum period is 1 month with the maximum being 84 months. All applications are submitted electronically and there is no need for original documents.
To qualify for these cash loans, an applicant must be 18 years of age, be permanently employed for 3 months at current employer, earn a minimum gross salary of R2,000 per month, have a bank account against which debit orders can be loaded and be a South African citizen with an ID.
Personal loans offer clients cash amounts of up to R120, 000. To qualify a customer needs to be a South African citizen, be formally employed, provide a payslip and be at least 18 years old.
EC loans can be contacted on 0879432500.