A personal loan is a type of loan that anyone can take out and use for various personal expenses. These include paying for a wedding, a car, vacation or those home renovations you’ve been postponing due to financial burdens. How you choose to use it is entirely up to you.

Get a personal loan of up to R150 000! Over the years, personal loans have become a real financial option for consumers and the demand continues to rise. It’s a type of financing you can’t ignore and with a simplified application process – it’s the Smart Loan you can access at your fingertips

What’s so personal about personal loans?

A personal loan allows you to borrow a certain amount of money for a stipulated period of time and pay it back in regular monthly installments. The rate one pays back is based on credit score and credit history. We advise that you make sure that your monthly payments fit your budget.

Always look at the different loan rates being offered. Personal loans allow you to consolidate debt such as credit cards which in some cases can be paid off in a month or two. With a personal loan, you get to pay back a set amount for a set period of time. This makes it easy to structure a budget and work out a payment plan with a due date

Factors that influence approval for a personal loan

  • You must have a good credit score. The higher your score – the better.
  • Your employment is a relevant factor. You need to have a regular monthly income of at least R4000.00 or more.
  • You need to have a healthy annual income. The higher your income – the better your chances of getting approved. Loan providers will look at your credit report to check if you have a good repayment history. If they can see that you can make regular payments, then getting approved will be a seamless process.

Enjoy the convenience that comes with applying for a personal loan – apply today smart-loan.co.za