We offer Personal Loans, Business Loans, Consolidation Loans, Mortgage Loans at 5% Interest Rates. Apply from R10,000 to R50,000,000.
A ‘short term loan’ is usually a personal loan that is to be paid back over a term much shorter than what a traditional bank loan requires. Short term loans that we, at Rodeco Finance, help you get are typically to be paid back on 1 to 30 Years.
Here are some major benefits of a short term payday loan:
They are quite easy to apply for and get.
They require no collateral, guarantee or pledge.
They are processed instantly, making funds available to you within minutes.
They can be a great help when you are faced with sudden cash shortage.
You can save on much of the interest if you settle the loan early.
For all practical purposes, short term loans are much the same as payday loans. Here are the similarities between the two:
Both are quite easy to get.
Both require little paperwork.
You can get them even if you have a poor credit score.
Both are processed very quickly – on the same day of submitting an application in most cases.
The best part about short term loans is that it’s very easy to be eligible to receive one. The eligibility criteria is very broad and much more lenient when compared with traditional bank loans. To be eligible to get a short term payday loan, you need to be a legal South Africa resident (18 years of age or older).
Yes.
Most payday lenders who offer short term loans approve loan applications even from those who have bad credit history. These loans, since they are approved almost instantly, involve minimal credit checks (soft credit checks), or, at times, no credit checks whatsoever.
Yes.
Even though short term loans involve superficial or no credit checks, every short term loan you take (or apply for) will impact your credit score. If you settle the loan on schedule, it will have a positive impact on your credit score, as you exhibit a responsible borrowing behaviour. On the other hand, if you regularly roll over or default on such loans, your credit score may be affected negatively.
Short term payday loans we help you get at Rodeco Finance are inherently small sized loans. You can expect to borrow anywhere between R10,000 and R50,000,000 as a short term loan, to be repaid over 1 to 30 Years.
No.
All the fees that are associated with a loan we help you get are clearly made known to you before you agree to borrowing. We, at Rodeco Finance, work hard to ensure that we connect you with responsible lenders who have a proven track record of fair lending practices.
Yes, it is.
Any source of regular income is usually enough to help you get a short term payday loan. This includes wages, salary, pension, benefits, aid, grants etc. That said, it should also be noted that you will have the best chance of having your short term loan application approved if you are full or part time employed.
A short term payday loan may not be a suitable option for you if:
You are a habitual borrower, or
You are not quite sure that you will be able to repay on schedule, or
You want to manage pre-existing loans or debts.
It must be noted that short term loans are usually more expensive than bank loans or cash credits.
