Cash Loans Online

Search for cash loans online with Friendly Finance

Cash loans online and calculations

What are cash loans?

These are small unsecured loans that are used by borrowers to cover expenses. Unlike Mortgages (which are secured), you do not need to provide collateral against a cash loan in case of non-payment. This makes the loan higher risk for the lender but offers great flexibility and convenience to borrowers. You can find a cash loan lender that suits your needs through our comparison tables at Friendly Finance.

Why loans online are popular

Consumers are turning to cash loans online as a source of extra funds because of the efficiency and speed of the process. Unlike traditional bank loans, you do not have to wait several days to know if you have been approved and the application can be done from home. The process is often 100% online, just submit your details with the loan request and the lender will provide an approval decision within moments.

Apply for loans

The approval criteria for cash loans online are like storefront lenders. The lender will need to verify you are who you say you are as well as decide on your affordability for a loan. An affordability assessment is what the lender will carry out to judge your ability to repay the loan amount and interest. It will be based on the information you submit and your credit score. If you have a bad credit score you can still apply for a cash loan as many short-term lenders are more concerned with your current financial situation rather than your financial history. You will also need to meet the minimum basic criteria of the lender to be considered. These criteria usually include:

  • A valid SA bank account
  • Be at least 18 years of age
  • Be employed and receive a regular income
  • Be a resident of South Africa.

Make sure you can afford the loan

Before applying, make sure you can afford the loan. If you take out more than you can manage and struggle to make repayments, you will fall further into debt. Carry out a budget analysis to understand how much you can repay. This involves comparing your total monthly expenses against your income to see what’s left. If you don’t have much spare cash each month, review your expenses to see if there is anything you can cut back on. The Friendly Finance loan calculator tools can then be used to find a loan that fits your budget. We take care of the tricky calculations, simply enter the loan details to see how much the loan will cost and what each repayment will be.

Smart search

Friendly Finance is the ultimate one-stop shop for finding cash loans online. Our comparison tables compare the most trusted lenders on the market in one place. You can search for payday or personal lenders depending on your needs. After your search results appear, you can sort and filter them based on your precise requirements. Compare cash loans based on loan amount, interest rate, repayment period and other terms. At a glance, our detailed loan descriptions convey important information like lending criteria, allowing you to zero in on products that are the most likely to work for you.

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