Christmas Loan Offers South Africa
It’s almost Christmas time and many people have concerns about how to cover upcoming Christmas expenses including gift shopping, decorations, events, parties, foods and drinks. Applying for a Christmas Loan can be a good option during that festive for people who need financing to cover those Christmas costs.
Christmas Loans in South Africa
Christmas Loans can be categorized as personal loans or short-term loans depending on the amount they provide. Borrowers who need smaller amounts prefer short-term Christmas Loans to receive the small amount they apply for instantly while borrowers who need larger amounts may choose personal loans since they come up with larger loan amounts and longer repayment terms.
Borrowers with good credit usually are charged lower interest rates due to low risk they set and since loan terms and rates differ among lenders, loan seekers should shop around before choosing Christmas Loan to apply for. On the other hand, borrowers with bad credit may be less likely to be approved for larger loans so loan seekers with low credit scores may want to consider short-term loans since most lenders do not require hard credit inquiries for smaller loan amounts. In addition, some lenders may have special offers for that festive period which allows loan seekers to face more affordable rates.
Small Christmas Loans in South Africa
Bad credit scores may limit loan seekers options while looking for a personal loan so they may end up applying for a smaller loan which requires no credit check or a soft credit check in which the main decision will be based on the applicant’s repayment ability. Also, customers who need smaller amounts should not borrow more just because they can. So, applying for a small Christmas Loan can be a good option for loan seekers with bad credit or borrowers who need limited amounts.
- Wonga: Allows customers to borrow up to R4 000 to repay within 6 months after submitting necessary information including phone number, SA ID number, bank account details and proof of income.
- Albatross Money: After submitting the online application form, once they found eligible, borrowers get the fund transferred into their bank accounts within 24 hours.
- Cobol: Applicants who are South African citizens and meet the minimum monthly income requirements (R3 000) can apply for a small loan and can receive up to R3,000 to repay within 6 months.
- Dube Cash: Dube Cash allows its customers to learn if they are approved within an hour an deducts the repayments from their next salaries.
- Easy Cash: Even borrowers with low credit scores can apply for a small loan and receive the amount they need without paying off any establishment fees.