Applying for Payday Loan
Here we look closely at payday loan application process.
Payday loans are the easiest and quickest to get compare to other kinds of loans.While its possible to get payday loans with instant approval and no credit check, you should begin the process by comparing as many different lending options as possible.
This is so important because you will be able to get the best interest rates and low processing fees. But additionally, depending on the lender you work with, you may be able to use your findings as a bargaining chip.
Once you feel like you’ve found a lender you can trust, you’ll need to provide them with some basic information.
You’ll also need to meet certain requirements. You’ll need to prove you are a South African citizen, be 18 years old and older, and be able to give the lender an address. Usually, you’ll need to show that you are able to earn at least R3,000 per month.
Other kinds of loans will require you to go through credit check but most payday loans don’t.However, you will still need to show proof of employment. You’ll also show a lender your identification. You may need to provide them with bank statements.
When in doubt, ask the specific lender you want to work with about their unique application requirements.
In most cases, you should be able to apply for a payday loan online. Depending on the lender, you could be approved in as few as 24 hours