Global Finance Loans South Africa
Getting a loan is often an important part of your financial success, especially when it comes to making big and important purchases like a car, home renovations or even business equipment. In many cases, you can apply for a loan online, which gives you these benefits:
- Paperless and Fast Application
- 100% Transparent Fee Structure
- Low Fee’s And Flexible Interest Rates
- Free Credit Advice To Improve Your Profile
Personal finance loans have taken a back seat since the recession – lenders have pushed more profitable credit cards and payday loans instead. With returns for lenders being much lower on personal loans, it is harder to get one unless your earnings are high and you have a reasonably good credit rating.
If you require funds for larger purchases such as a new car or a wedding, a personal loan can be better suited to your needs than a credit card. The structured nature of a personal loan, with known, regular payments over a set term, make it easy to budget and easy to understand what you’re in for.
How Long Does It Take?
Once submitted, your loan application normally gets reviewed within a few hours. To streamline the loan process, be sure to provide the most accurate information possible. Attracting lenders require a good proposition with little risk. Make sure you describe your loan in as much detail as best possible.
Paying on time and in accordance with your credit agreement will help maintain and may even boost your credit score, and your future ability to get credit. But on the other hand, if you don’t repay loans on time, lenders often automatically extend the term of the loan which will impact your credit score negatively and which will incur additional fees and interest.
If you don’t pay in full, the lender may issue a default notice as the first step in collection action, then either take you to court for recovery of the money, or put the matter into the hands of debt collectors, all incurring more fees. So only take out loans you can comfortably afford to repay on time.
