Here at Mr Cash Loans, we mainly deal in the following types of loans:
• Cash Loans,
• Personal Loans,
• Online Loans, and
• Easy Loans
All of our loan products are unsecured loans, meaning that you do not need surety in the form of an asset, such as your house or car, to secure your loan.
If you have difficulty in getting loans approved come to us for excellent service and fast approval.
We are here to help you with a number of different loan options. There is no longer a need to be concerned about waiting in long lines or making your way through the unfair lending practices of the larger banks.
The ability to take back control of your finances is now squarely within your hands.
Debt consolidation through a loan online is something that South Africans find convenient, as personal loans tend to have lower interest rates attached than many pay day loans. Importantly, term loans also have a defined timeframe – a certain amount of time to pay it off.
This is a great way to impose discipline!
Many South Africans fall into debt by having multiple one month loans and an instant gratification, “I want it now” mentality. Then they need to consolidate their debt into one place just so that they can meet the minimum repayments. It's not a decision to take lightly, but sometimes it can be a good way to pay off your debts.
Part of the appeal of online loans is that they can be approved by financial institutions very quickly.
Most financial institutions will approve or deny a personal loan in 1 – 2 banking days.
With an unsecured loan, the lender agrees to lend you money without taking a form of security.
The loan will still be subject to your capacity to repay it, and a full affordability assessment will be conducted, to confirm that you can afford to repay the loan installment.
Loans online can be taken out for as short as 3 months or up to 60 months in some cases.
Our loans explained:
So, how will we be able to assist you in obtaining your unsecured loans?
Well, the answer to that question is actually not as difficult as you think. The first thing that you need to do from your side is to complete our online Loan Application form . With this information we will be able determine whether or not we can assist you with a loan and guide you through the rest of the steps. The final steps can be completed via email or fax.
Please have a look at our Basic Criteria and Required Documents before applying for a loan with us.
Another question we are normally asked is how long it will take before I get the money in my account.
The loan amount is normally available in your bank account within 24 to48 hours of approval.
Tips for fast loan approval:
o Ensure that your online Loan Application form is completed truthfully.
o Ensure that your contact details (email address and cell phone number) are completed correctly.
o Ensure that you send the correct and completed Required Documents when requested to do so. (We need to verify your information)
o Ensure you sign in all the correct places on the loan agreement.
o Ensure your HR telephone number is correct as employment confirmation will be done before a loan is approved.
Loan terms and Cost of credit:
- Loans terms - we offer - 3 month loans up to 60 month loans
- Loans Available R3,000 up to R150,000
- The Annual Interest Rate is a maximum of 28% as prescribed and governed by the NCA (National Credit Act, 2005) for unsecured loans with a repayment period of 12 months or more.
- A representative example of this is:
On a loan of R15 000 over 15 months at a maximum interest rate of 28%, maximum fees of R68.40pm, credit life fees, maximum initiation fee of R1 197 inclusive of VAT comes to a total cost of R22 717 which equals an APR of 68%.Which means that your monthly installment will be R1514.47
The interest rate will depend on the loan amount, loan term and credit profile of the applicant.