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Have you received an unexpected bill? Perhaps your home or vehicle needs some minor repairs? No matter the reason for needing to borrow funds, a R100 loan could be just the answer. These small pockets of credit are ideal for providing a quick, temporary solution should a R100 loan be enough to cover whatever mini crisis life has thrown your way.
Let's take a closer look at how loans for 100 work and what you can do to improve your chances of acceptance.
Each R100 loan works in almost exactly the same way as other short term forms of credit available in the South Africa market. Once you know that a R100 loan is all that's required, simply select a term over which you want to make repayments. The longer your R100 loan runs for, the lower your monthly repayments will be.
The repayments that you make will be calculated based on your creditworthiness, the R100 loan amount and the term of the loan. All of the repayments will be explained in full in your personalised credit agreement which will be sent to you as soon as your initial application has been approved.
Yes! Your credit history isn't the only factor that gets taken into account when assessing your application for R100 loans. As well as your creditworthiness, lenders will consider your ability to repay the loan by considering your employment status, residential status, income and monthly expenditures.
The big advantage of R100 loans for those with bad credit is that the risk isn't huge to lenders. Borrowing a smaller amount such as this will give you a better opportunity of acceptance, whilst also helping to improve your credit score so long as loans for 100 are repaid on time.
As well as your credit history, you'll need to meet some basic eligibility criteria to be considered, including:
You may also need to meet employment, residential and salary criteria to be accepted.
Applying for R100 loans has never been easier thanks to the Rodeco Finance comparison service. We won't ever charge you any fees for comparing R100 loans, however you may find that lenders apply a small charge if you want your R100 loan transferred on the same day that you apply.
It all starts by taking a R100 loans comparison through Rodeco Finance which takes just a couple of minutes to complete. We'll then match your circumstances with lenders who specialise in offering R100 loans to South Africa customers.
From the personalised comparison that we present to you, it's then down to you to select loans for 100 that you feel best meets your circumstances. Finally, you'll need to electronically sign and return your credit agreement at which point your chosen R100 loan will be sent directly to your personal bank account, often on the very same day that you apply.
So what are you waiting for? Apply for R100 loans today with Rodeco Finance and begin your journey to a short term financial solution.
