Being able to successfully apply for a personal loan depend on many factors, but the most important is your credit score. Building a good credit score takes time and requires discipline. The first step you need to take in building a good credit score is to know the status of your credit score. You can get a credit report at all credit bureaus. Various contributing factors like how long you have been working at your current job, how often you move residences and if you pay your bills in a timely manner will influence your credit score.
Moneyboss’s personal loan application is fast and simple process, and you may find out within a 24-hour period whether you qualify for the loan, the loan amount ranges between 9 one thousand Rand (R1000) up to hundred and fifty thousands Rand ( 150 000). You will then be asked to send us your required documents. Once the loan is fully approved you will have the funds within hours. If you want to pay your loan off early, there is no settlement penalty. Their loan structure is of such a nature that it gets determined by your overall score, which means that yes, they look at your credit record, but also base their decision for your personal loans on far more than just that.
Personal loans are often used to pay down and consolidate debt on high interest credit cards, or cover emergency or unexpected expenses, medical bills, education, home improvements, moving costs, weddings, paying taxes, and more. The easiest way for you to find out whether you will qualify or not, is to complete our online loan application form and let us assist you through the process.
When you open an account or take on credit of any kind, your repayment behaviour is recorded by credit bureau, whether good or bad. When a credit provider identifies poor payment behaviour it might influence the out come of your application. On the other hand , if you pay all your accounts on time every month, you will find that you have a very positive credit report.