Are cash loans bad?
Cash loans can be bad if you borrow and not able to pay.This non-payment will affect your credit score temporarily, but once you start repaying on time your credit score is brought back up again.
In the meantime when your credit is being reviewed, you may not be able have access to another loan.
Instant cash loans are the quickest instant loan to get in South Africa.You can use these loans:
- To cover the cost of an asset purchase,
- For medical emergency,
- To travel expenses,
- or other unplanned events.
What you nee to apply for Instant Cash loan:-
- Be at least 18 years old,
- Have a valid South African ID,
- Bank statements for the past 3 months (usually with a bank stamp),
- Proof of your salary or proof of employment
Your South African ID will be used to verify your identity, to ensure that your identity matches your details, to emsure that you are least 18 years old and a citizen of South Africa.
Lenders will use your Bank statements for the past 3 months to esnure that you have an active account where tour salary is paid and also to verify that your salary is enough to repay loan’s monthly instalments.
Proof of your salary or proof of employment – lender want to see that your income is steady and that you have enough extra money or savings to be able to make your monthly repayments.
Once your loan application is processed and approved, cash is deposited into your account within 24 hours.