About SA Personal Loans
In times of financial need you can get extremely frustrated with all the calculations of hoping that this time around; the 25th time around the maths will add up but nope; you’re still running on a deficit. The stress of keeping up with the cost of living can be gruesome and at times it can negatively affect your health. Looking for a loan is something that most people turn to in their time of financial need but the process can be a bit overwhelming with so many credit providers bombarding you with their offers; how do you know which one is best for you?
This is where SA Personal Loans comes in. SA Personal Loans was established to bring to light the methods and processes you should take when applying for a loan online. There are so many myths surrounding getting a loan and SA Personal Loans has made it their priority to address these myths.
SA Personal Loans Popular myths
- Collateral is needed to apply for a loan: Having collateral to offer a potential credit provider may bring a bit more confidence to the lender however; it is not always a requirement. There are many credit providers that offer their clients unsecured loans that do not need any collateral from their clients.
- Personal loans are such a headache to apply for: Gone are the days where you had to stand in a long queue only to go through an even more tedious process of going through a never ending pile of documentation. Now you don’t have to put yourself through that pain; you can simply apply online or via the phone thanks to 21st century technology.
- Personal loan approval takes weeks: This is just not true at all. Once you’ve submitted all of your personal details alongside with your application; most credit providers can give you a response within 24 to 48 hours.
- Bad credit record makes it impossible to get a loan: A bad credit record does not dismiss you from acquiring a loan. There are many credit providers that offer loans to people who have been blacklisted. As long as you earn a salary that will enable you to repay the loan back in time.
- Your personal bank is the best place for a loan: Your own bank can be great source of acquiring a loan if you have a good credit record but not so much if you are blacklisted. There are many credit providers who can offer more competitive interest rates than your bank as well.
- You’ll need to take out life cover with your loan: This is not true. Although beneficial but it is not necessary to take out a life cover policy with your loan and many credit providers do not make it a pre-requisite.
- You need to pay off all loans and debt before saving for retirement: A lot of people will never be debt free so it only makes sense to save for retirement while paying off a loan or any other debt. Both can be done simultaneously.
- One loan at a time is all you can have: This is not entirely true. You can have one loan at a time if that is all you can afford at that particular time otherwise you can have as many loans as you can afford.
- Credit cards are cheaper than personal loans: This is all dependent on the interest rate of the credit card or the personal loan; so it is entirely dependent on which one has the best interest rate.
So next time when you are looking for a loan; consider these tips and get your loan as soon as possible.
SA Personal Loans contact details
Phone Number: 087-550-1929
Postnet Suite 1005
Private Bag X2