The concept behind a payday loan is quite simple and appeals to those who require a short term loan with immediate effect. Payday loans in South Africa is usually made shortly before payday, or else with the agreement in place that the loan (as well as any interest) will be repaid when your next salary is due.
Sometimes a month can feel just that little bit too long, especially when unexpected expenses arise or special occasions overwhelm your budget. Payday loans, usually a smaller amount compared standard loans, are often taken without adding long term pressure to your financial circumstances. At iloans, we provide payday loans to individuals through a simple online application process. For applicants who are successful, our team of financial professionals will ensure a fair and transparent repayment setup. A payday loan can often provide much needed relief to those with unavoidable financial commitments that cannot wait.
With a payday loan, individuals will need to repay the entire loan amount and any interest back on the agreed upon day. Iloans provides a trusted payday loan option to individuals through a transparent online repayment agreement. Simply get in touch with our team to find out how we can help you.
Please note that all our lenders are registered with the National Credit Regulator (NCR).
Fees and interest charged in terms of chapter 5 of the National Credit Act (NCA) no 34 of 2005:
Initiation Fee of 15% of the Loan Amount up to R1 000, thereafter 10 % (+ VAT) Services Fee of R50 per month (+ VAT)
Interest charged: Per Day: 0.17% Per Month: 5% Per Annum: 60%
PLEASE NOTE: Every Lender has their own policy - this is only a guideline for a cash loan. Our various lenders offers personal loans up to R250 000.
|Loan amount:||R1 000|
|Total Instalment:||R1 474|