CashLoan.co.za loans Review 2020

There are times in life when unexpected circumstances that require immediate cash injection from you may arise.

Sadly, you may not be liquid at that point, having exhausted all your salary. If you are caught up in such a debilitating position, do not despair as CashLoan.co.za can you help you get a quick cash loan within 24 hours.

CashLoan.co.za is a direct loan comparison website that is dedicated to help South Africans get access to loans quicker than before.

CashLoan.co.za partners with reputable lenders in South Africa helping their clients to access loans whenever needed. The Loans start from R2000.00 stretching up to R150,000.00.

CashLoan.co.za exclusively deals in personal loans.

According to the company’s website, loans can be approved within a couple of hours with the cash disbursed within 24 hours of approval.

With CashLoan.co.za, business is generally done online with loan application done 100% online with verification details required from the applicant.

CashLoan.co.za offer loans only to those that can be able to repay the amount borrowed. You need to be employed or earn an income as CashLoan does verification of whether you are beneficially employed or not.

The assessment is done rigorously by checking your employment history, the legitimacy of your employer, bank statements, payslips and if the amount stated as income is correct.

The company makes use of the credit bureaus to assess your eligibility as your credit report summaries you credit history and how much you currently owe other lenders. The website also uses FICA system so as to verify that the loan issued out goes to the intended recipient.

Loan application process

  • First step of the loan application process is to indicate the amount of money you want to borrow. You need to use the slider on the website. Loan amounts range from R2000.00 up to R150,000.00.
  • After indicating the loan amount the next step is to indicate the number of months you have been employed. There are two available options, so you need to choose whether you have been employed below or over six months by your current employer.
  • The next step is to choose the day in which your salary is deposited into your bank account.
  • Thereafter, choose the bank that your salary is deposited into every month. You need to choose one bank from a list of South African banks, if your bank is not listed you will then need to select other.
  • After selecting your bank account then you will have to indicate your finances. This includes your monthly gross income, your net income and all your expenses. These have to be straightforward therefore input correct figures where necessary.
  • Next step is to provide your personal information. This includes your Name and Surname, email address and mobile number.
  • Then after you will need to produce your identity number.
  • Next step is to choose if you are under debt review or not.
  • Final step is to complete your application. On the complete page, there is an option to get a life cover so you can ignore if you don’t need a life cover or accept if you need a life cover.
  • You will need to produce your payslip and banking information to complete your application. A consultant will then make a call to you to finalize the loan application process.

Cashloan.co.za Advantages

  • When making an application and leave without finishing the application your information is retained so that you don’t fill in the same information again.
  • Loans can be approved within 48 hours.
  • The application process is easy with only 9 steps involving easy question and answer method. Only 2 steps require typing information i.e. Personal information and ID number.
  • Get a chance to talk to a consultant over the phone who will explain everything to you before accepting the loan.
  • Payments are flexible as you can choose to settle your loan amount between 12 months and 60 months so it is all up to you on which payment period you are comfortable with.
  • CashLoan.co.za works with numerous lenders so chances of getting a loan are higher.
  • No live calls will be made to the credit bureau, and hence no footprint will be left that will impact your credit score.
  • Your information is not shared with any advertisers.

Cashloan.co.za disadvantages

  • You can only contact CashLoan using emails as phone numbers are not on the website.
  • Can’t upload relevant necessary documents after application. You need to wait for a call and send the documents by email.
  • There is not enough information about the company on their website.

What you need to apply for CashLoan.co.za loan

  • Must have a South African Identity Document
  • Must be older than 18 years
  • Have a current 3 months bank statement showing your proof of income
  • Have 3 months bank statement

Web security and information security

  • The website doesn’t have any malware and injected spam, therefore, the website doesn’t have any attacks from outside.
  • Information input will only be distributed to partner lenders who contact applicants for obligation-free quotes on specified loan amounts.
  • The site uses cookies so the way you use the CashLoan.co.za website is monitored to give you a better web experience.

CashLoan.co.za as a loan facilitator provides great loan opportunities to choose from depending on your loan budget.

CashLoan.co.za assessment makes it easy for you to get better chances of loan approval for example optimising system used for financial details to allow quick assessment of how much loan you qualify for. With such assessment, your credit score will not be compromised and you will be able to get a loan that you really can afford.

You don’t get to do the hard work of comparing loans as CashLoan.co.za does that for you. Thus, saving hours if not days of making loan comparisons from tens of loan providers.

You also get access to quick cash loans without going anywhere. The loan process can be done from home or work or any place depending on where you are.

You need to make sure that the required documents are in order before starting your loan process. Your pay slips must be recent and in the correct order, all being a compilation of 3 months payslip.

Your bank statement will have to show income and it must be recent. Make sure your credit score is good and that you pay your debts on time.

CashLoan.co.za loans Review 2020

Staff Writer

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