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SApersonalloans - description of the lender in moneyguru24.com

Loan amount

R500 - R150000

Loan term

3 - 60 months

Company

SApersonalloans.co.za is not a direct lender and do not provide loans to consumers. They have contracts with various direct lenders to whom submit your application, based on your personal profile and loan requirements.

APR

9.8 - 21 %

Representative example

SApersonalloans.co.za is a free loan-finding service. Loan terms, conditions and policies vary by lender and applicant qualifications.

Loan amount: R10 000, Loan term: 24 months, Installment: R484.87, Total amount payable: R11,636.80, APR: 15.0%

NB! Total amount payable depends on the loan amount, percentage, terms and individual credit worthiness.

Age restriction

You must be at least 18 years old.

Implications

- 30 days late - will damage your credit scores only when it is reported as "currently 30 days late". The exception is if you are 30 days late often. Otherwise, a 30 day late payment will not cause lasting damage.

60 days late - will damage your credit scores when it is reported as "currently 60 days late". The exception is if you are 60 days late often. Otherwise, it will not cause long term damage.

- 90 days late - will damage your credit scores for up to 7 years. The main goal of the scoring model is to predict whether or not you will pay 90 days late or later on any credit obligation. By showing that you have already done so means that you are more likely to do it again compared with someone who has never been 90 days late. Your credit scores will drop.

- 120+ days late - at this point, your debt is usually "charged off" or sold to third party collection agency. Both of these occurrences are reported on your credit files and will lower your credit scores further.

If you continue to miss your payments beyond 90 or 120 days, the following records may also harm your credit score:

Collections
Collections are the result of late payments. There are two types of collections; those that have been sold to a 3rd party collection agency or those that have been turned over to an internal collection department. Regardless of which one shows up on your credit reports, your scores will suffer.

Settlements
Settlements are deals made between you and a creditor who is trying to collect a past due debt. Normally, you and the creditor would agree on an amount that is less than what you really owe them. Once you pay them, they consider the matter closed and paid off. However, they will report that you have made a debt settlement for less than your contractual obligation. This will hurt your scores as much as any other serious delinquency.

Important information

WARNING: Before borrowing please make sure that you read all the terms and conditions in your loan agreement.

Rates & Fees

Annual interest rate - 32.10%;
Service fee - R57 (per month);
Fees include VAT - 14%.

Late Payments

Your costs will never change, unless you change the terms of your loan by for example changing the repayment date, or by defaulting on your payment. If we see an account has defaulted, we will contact you to try and resolve the situation as soon as possible. However any additional fees by your bank (for insufficient funds, etc.) will be for your own account.

Should we be unable to contact you to resolve the situation, a collections team will take over and attempt to contact you. In case your personal circumstances have changed, they will propose alternative solutions and come to an arrangement to get you back on track. Keep in mind that the collection team also has their own fees, charges and interest on overdue amounts, which you will be liable for. Should they be unable to reach an agreement, your account will be handed over to an external collections partner.

Continued failure to repay a loan will also mean credit bureaus will record the outstanding debt. Records remain on file for a number of years after they are closed, whether settled by you or not.

Renewal Policy

SApersonalloans do assist clients with more than one active loan. Once you made three payments on your current loan, you can apply for another loan with them.

Address

Century Pl Blvd
Century City, Cape Town
7446

Additional information

Phone: +27 87 550 1929
Email: info@sapersonalloans.co.za

Minimum loan amount
R500
Maximum loan amount
R150000
Minimum loan term
3 months
Maximum loan term
60 months
APR
9.8 - 21 %
Minimum age
18 years
Loan granting
Excellent
Online application
Apply now sapersonalloan...
Requirements:
  • - you must be at least 18 years old.
SApersonalloans.co.za is a free loan-finding service. Loan terms, conditions and policies vary by lender and applicant qualifications.
Representative example: Loan amount: R10 000, Loan term: 24 months, Installment: R484.87, Total amount payable: R11 636.80, APR: 15.0%
NB! Total amount payable depends on the loan amount, percentage, terms and individual credit worthiness.
Minimum loan amount
R1500
Maximum loan amount
R150000
Minimum loan term
12 months
Maximum loan term
60 months
Max. APR
28 %
Minimum age
18 years
Loan granting
Good
Online application
loanfinder.co.za
Requirements:
  • - at least 18 years of age;
  • - South African citizen;
  • - steady, monthly income of at least R1500;
  • - South African bank account;
  • - not under debt review;
  • - not filed for bankruptcy;
  • - are not under any debt restructuring programmes;
  • - have not declared as an insolvent; and/or are not under administration.
Loanfinder SA is a free loan-finding service. Loan terms, conditions and policies vary by lender and applicant qualifications.
Representative example: Loan amount: R10 000, Loan term: 24 months, Monthly service fee: R68.40, Total Amount payable: R17 208, APR: 28%
NB! Total amount payable depends on the loan amount, percentage, terms and individual credit worthiness.
Minimum loan amount
R1000
Maximum loan amount
R180000
Minimum loan term
3 months
Maximum loan term
72 months
APR
35.57 - 1141.24 %
Minimum age
18 years
Loan granting
Good
Online application
ubank.co.za
IMPORTANT:
  • - Initiation fee charged at 16.50% for the first R1,000 and 10% of every thousand thereafter capped at R1,197 including VAT;
  • - Monthly service fee of R68.40, VAT inclusive, included in monthly repayment of all loan applications.
Representative example: Loan amount: R10 000, Loan term: 24 months, Monthly Repayments: R696.76, Total Amount payable: R16 722.24, APR: 71.54%
NB! Total amount payable depends on the loan amount, percentage, terms and individual credit worthiness.
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