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Find online loans in South Africa with Friendly Finance

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Why an online loan?

In the modern era as a consumer, we are fortunate to have convenience at our fingertips. This means we can shop online for pretty much anything. The online finance world is no different, whether in search of a short-term loanpersonal loan, or car loan. When you need finance, online loans are often the easiest way to fulfill that requirement because they provide convenience in your unique financial circumstance. Online lenders in South Africa can offer anywhere from R500 up to R150,000, to be paid back over a duration of 1 – 60 months.

Find the best online loan

At Friendly Finance, we have created a loan finding service that helps you compare lenders within one convenient website. When searching for the right online loan – you need to establish the following:

  • Purpose of the loan
  • How much do I need to borrow?
  • For how long should I borrow the money for?
  • Can I afford the repayments?

There are several important factors you should consider before applying. For example, you don’t want to take out a loan of R40,000 over 3 months if your monthly average take home salary is less than R15,000. This is because you will be left with very little money each month to cover your common expenses, such as rent and groceries etc. Never stretch yourself in times of need, even when you require money quickly. Take the time to see if the lender your choose allows you to repay the loan before the due date without incurring any fees. This way you can set a longer repayment date but you have the option to pay off the loan faster.

What are the next steps?

Once deciding on the type of loan and the lender of your choice, simply click ‘apply now’ and you will be transferred in a jiffy to their application page. Here you will supply the lender with a variety of personal details, where they will verify your identity and run affordability checks based on your requested loan amount and income/monthly outgoings. During the application process, they may request pay slips or your last 3 months of bank statements. The provider will also perform a credit check to assess your creditworthiness. This whole process should take up to 10 – 15 minutes, so make sure you have all your personal information ready to ensure a speedy application.

Why Friendly Finance?

At Friendly Finance, we strive to make it as easy as possible to find a loan online. Our search and comparison tool is part of the equation, but our exceptional customer service plays a crucial role too. If you require assistance on how to use our website or information around any of the partners we work with, please don’t hesitate to get in touch.

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