An article in the Business Report section of www.iol.co.za, published on the 3rd December 2019, wrote that in the latest Consumer Default Index (CDI), released by Experian South Africa, Personal Loans showed the biggest increase year on year from 8.03 percent in 2018 to 8.84 percent in 2019. “Due to the tougher economic climate, more consumers are accessing personal loans and available credit card facilities to support their day-to-day expenses,” said Jaco van Jaarsveldt, Decision Analytics Head Consulting and Marketing Services at Experian South Africa.

South Africans take out loans for various reasons – whether it be to pay for tuition fees for their child, to replace household appliances or to fund a wedding.

If you are looking to take out a personal loan, we at Moneyshop.co.za can assist you with applying for one. All you have to do is follow these steps:

  1. Visit https://www.moneyshop.co.za and click on the ‘borrow’ tab on our homepage Loan1_MoneyShop

 

 

 

 

 

 

 

 

 

2. Click on the ‘Personal Loans’ tab and then on ‘Apply for a personal loan’

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3. You will be asked various questions by Monty – He’ll ask you for your ID number, cell number, your monthly income (before tax), what assets you own, if you’ve had any bounced debit orders recently, etc….so have all of this info ready.

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4. You will also have the chance to get a free credit report directly through Moneyshop to see what your credit score is – It’s always good to know this number!

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5. You will be informed if you are pre-approved for a loan, with our partner

 

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6. You can either choose to be redirected to complete the application process, online, with our partner or choose to have a link sent to your phone and accept the offer later on.

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7. You will also be given a detailed report regarding your pre-approved loan, which you can download immediately, or we can send it to you via WhatsApp or SMS. In this report you’ll be given your application ID and what you can expect next – a call from our partner, who will go through a more detailed application form with you over the phone. You will also be asked to supply them with a copy of your ID, 3 month’s bank statements and payslips…so have all these ready to send off.

We’ll also give you our partner’s details so you can call them directly, at a time that is convenient for you, and you can let them know that you have been pre-approved for a loan via moneyshop.co.za and continue with the application process.

If you would like to apply for a personal loan, you can click on this link

Until next time

The Moneyshop Team