Life is never predictable, and there are times when we all need some extra cash for those rainy days. Whether you are faced with an unexpected emergency, or simply need instant access to cash to tide you over until your next pay-check, short term loans in South Africa gives you access to money on a term anywhere from one to twelve months.
Applying for a short term loan from a bank is a good idea if you are looking for the best interest rates. ABSA for example, offers loans up to R8,000 to qualified individuals.
An Express Loan could be the right choice if you:
- Need to access between R1 500 and R8 000
- Want a short-term loan payable over 1, 3 or 6 months
- Earn a minimum income of R1 500 per month
- Have a bank account into which your salary is deposited
- Have proof of your current residential address, such as a municipality or rates bill
Here is an example from Nedbank:
- You get cash of R1 000 to R200 000 deposited in your salary account.
- Flexible payment periods of 12, 24, 26, 48 or 60 months.
And here is what FNB offers clients:
- With a loan from FNB you get access to loans from R1000 to R150 000 paid out within minutes.
- Depending on your loan amount you can get up to 60 months to repay.
- In the event of your death, dread disease, retrenchment, permanent or temporary disability, our Customer Protection Plan will ensure that you are taken care of.
Many people have utilized short term personal loans for a variety of different reasons. Short term personal loans are a way to get the money that you need, on a short term basis. This type of loan has a few worthwhile benefits. However, there are also some drawbacks associated with it as well.