Do you need a loan you want to repay for a long time? We have a perfect solution for personal installment loans in South Africa at MoneyStar, with almost guaranteed approval rates. No paperwork, credit check, or anything will be an obstacle when you apply for funds, even if the loan process doesn’t trouble you with us.
A short online application process with a 5-minute time consumption doesn’t make borrowers wait for long when they are in extreme need of money.
What are personal installment loans in South Africa?
Personal installment loans cover significant expenses, including consolidating high-interest debts and some unexpected emergencies in South Africa. Such emergencies may be short-term with small expenses such as paying medical bills, home renovation, travelling costs, food buying, rent payment, etc.
Unlike other short-term loans, these installment loans don’t tend to be paid on your next payday. You can repay such loans over time with a fixed loan amount with low-interest rates. Defaulting your loan payments leads to extra penalties, including late fees.
So, these funds are the only option left for you when you have no way for money arrangements instantly.
How do online installment loans work from direct lenders?
The application process is straightforward, with four easy steps for installment loans when applying at MoneyStar from direct lenders.
Instant decision:
- Fill online application:You need to fill out a simple online application form with income stability and some personal information required.
- Quick response: You will get a quick response after a small verification of your details by our lenders. So, this can be either positive or negative depending on your details authenticity and mistakes made by you.
- Sign a loan contract: You need to sign a loan contract with a digital signature once you have received the positive confirmation. You should read the terms and conditions before signing the agreement for betterment.
- Get disbursed in your bank account: You can get your funds in your account in the next 10 to 15 minutes on the same day.
What are benefits for installment loans with guaranteed approval?
Installment loans with guaranteed approval come with several benefits that borrowers expect before applying for any loan. But they don’t get these benefits from traditional loans, so you should check them out.
Benefit types of installment loans in South Africa:
- Fast access: You can get fast access to such cash because you need to apply online with the most reliable lenders.
- Easy to repay: You make your loan payments in installments rather than on your next payday after using these funds.
- Bad credit acceptance: You can apply for such loans even if you have a bad credit score from direct lenders and get approved fast.
- No paperwork: It is not necessary to get into any paperwork formalities manually because you need to complete a small application process.
- No hidden charges: These loans come with no hidden charges unlike other traditional loans always carried to pay by borrowers.
What to remember before applying for installment loans with no credit check?
It will help if you remember the following things when applying for an installment loan with no credit check at MoneyStar.
Things to remember before applying:
- How much you need: You need to make sure how much you need to meet your goals and choose the loan amount accordingly. It won’t be a problem further in paying them.
- Interest rates: You need to check out how much interest rates will be there for you because every lending institution charges differently.
- Hidden charges: You need to check out if there are hidden charges to pay for the loans because many conventional lenders charge.
- Terms and conditions: You need to check out the terms and conditions before concluding because this will help you precautionary.
- Choose trustable lenders: You should choose trustable lenders, and you can also check their official website and reviews of existing customers to get some ideas.
What is difference between Payday loans and installment loans?
Payday loans and installment loans differ from each other, so you should check out the difference before applying for them.
Payday loans vs. installment loans
- Payday loans: Payday loans are short-term loans applied to cover unexpected expenses and are repaid on unexpected expenses and borrowers’ next payday with high-interest rates.They are available 24/7 and you can access cash anytime and anywhere, so you don’t need to worry about money. They are typically ranging between R100 and R5,000.
- Installment loans: Differ from payday loans because borrowers don’t need to pay them on their next payday. Payments are made in installments with low-interest rates, so you have enough time for money arrangements for loan repayments. These loans can be used for more considerable expenses than short-term expenses. You can borrow up to R50,000 or more.
Can you apply for personal installment loans for bad credit?
Yes, personal installment loans can now be availed with bad credit scores in South Africa because many lenders don’t have any problem with your bad credit. Everybody can’t have perfect credit, so some lenders ignore it when you apply.
But your loan repayment ability matters most, so you must prove that you can make all your loan payments on time with no default. Once you stick to loan payments then your bad credit improves gradually further.
Are fast approval installment loans secured or unsecured?
Both installment loans with fast approval can be secured and unsecured depending upon the type of lender you have reached. While applying for such loans with us, you don’t need to carry anything precious to get funds in exchange.
Our most reputable direct lenders offer unsecured loans to the convenience of borrowers so they can get rid of their financial problems. On the other hand, you are asked for collateral when applying for these loans from traditional lenders because they commonly offer secured loans.
It’s up to you whom you choose for these installment loans to remove the financial hurdles of your way without getting delayed.
Personal Installment Loans South Africa- Some FAQ’s.
Can I apply for multiple installment loans in South Africa?
Yes, you can apply for multiple installment loans, but you shouldn’t do it until you repay your first loan fully. Otherwise, you may have a hard time paying off your loans to debts. Always ensure you fully repaid your first loan before applying for a second one.
Is it reasonable to apply for installment loans during emergencies?
Yes, these loans are the best choice for emergencies because you can get fast approval in minutes and funds on the same day to overcome your emergencies.
Where can I apply for loans with guaranteed approval?
You can apply for loans with guaranteed approval from direct lenders at MoneyStar in South Africa and fix your sudden expenses.
How much loan amount can I get from direct lenders?
The loan amount varies from lender to lender, but you can choose a loan amount of up to R30000 from direct lenders.
Can I make my loan payments before the due date?
Yes, you can make your loan payments before the due date with some specialized lenders without paying prepayment charges. Many traditional lenders charge prepayment penalties in your province.
Using the MoneyStar, you may get from R100 to R35,000 in just 5 minutes.
Applying won’t affect your credit score
Micah Sedres
MoneyStar expert Micah strives to navigate finance niches like credit cards, loans, and mortgages easily. She helps hundreds of readers in credit building and provides money management tips. After regularly working for brands like Businesslive.co.za, she joined the MoneyStar.co.za team as a staff writer to develop credit product reviews and comprehensive guides mainly focused on credit scores and loan/card offers.
