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Blacklisted cash loan

“Is a cash loan the right option for me?”

If you require Money for any unforeseen expenses, such as car repairs, a sudden death in the family, home improvements or if you just need to take a holiday. Then a cash loan would be the option for you. If you are looking to consolidate debt and pay of existing expenses then a consolidation loan will be better for you.

“How to select the right repayment period “

Depending on your situation and the loan amount you require, when taking out a cash loan one needs to understand what they are getting themselves into and select the best option that suits there budget. If you are looking to borrow say R10 000 it would be better to take this loan over 6, 12 or 18 month repayment period provided you feel you can afford the monthly repayment. The basic concept here is the shorter the repayment period the less interest and other fee’s you will pay.  On the same note if you feel that the repayments are too high then taking the loan over a longer period such as 24 or 36 months will be a good option. Although you will pay more interest this way but with the lower monthly instalments this will help you in the long run from becoming over-indebted and unable to afford the monthly repayments and also from being listed on the credit Bureau for Non-payment which will also have negative effect on any future credit applications.

“Implications of being blacklisted and taking out a cash loan”

If you have any bad credit on your name you may still qualify for a loan however the interest rate might be much higher and the repayment periods shorter based on your own risk profile. Companies whom provide these types of loans usually charge the maximum allowed interest rate as per NCR regulations which currently 31% per a year and 5% per a month for Short term loans. The reason why such companies charge higher rates is to offset the risks involved in the lending to someone who has a bad credit record. The loan repayment might also be shorter then expected and if you feel you cannot afford the repayment it’s always better to take a lower amount which suits your budget rather then over-committing yourself.

How do I apply for a cash loan if I am blacklisted ?

SA Loan Services offers a simple solution in assisting you with getting a cash loan , simply complete our quick and easy online application form and we will do the rest. With 10 years of experience and in-debt knowledge of the industry we will do the best to get that much needed assistance.
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