Compare Personal Loans Online
Get pre-approved personal loan quotes in minutes from a variety of providers
Look at Individual Credits in a couple of simple tasks
A personal loan can help you get out of a tight spot or get the funds you need to make your dreams come true, and Hippo.co.za can help you get the best personal loan deal.
What is a Personal Loan?
Personal loans are typically associated with unsecured loans. They are a convenient way to access cash for emergencies, home improvements, and leisure activities like weddings and vacations.
Loans range from R$1,000 to R$350,000, with repayment terms from 7 (minimum) to 12 months and up to 72 months. Repayment is usually (but not always) calculated at an annual interest rate of 27,25%. Once you have applied for and received your loan, you must begin repaying it in monthly installments over the term you have chosen. Home
Why compare personal loans Online ?
It’s easy: Comparing options is the easiest way to find loan offers you can afford, from loan amount to repayment term to interest. You can find different offers from different loan providers, so it is responsible to compare before signing on the dotted line.Compare Personal Loans Online
Instructions to Apply for an Individual Credit On the web.
Applying for a loan online at Hippo.co.za is easy. Simply enter your ID number above and we will pull up the information you need to complete your application. Then, at that point, enter a couple of insights concerning how much private credit you really want and we will track down you different proposals from driving advance suppliers in South Africa. Compare Personal Loans Online
How are personal loans approved?
The loan company will look at your credit score and decide whether to approve your loan application. A good credit score means that you are likely to repay your loan on time, while a poor credit score means that you have had difficulties with repayment in the past.
Not sure what your credit score is? You can check it by applying for a free credit report, available once a year. Check your credit score regularly to find out if you need to change your money habits with regard to debt and credit. If the numbers don’t add up, it can also reveal whether you are a victim of fraud or identity theft. Compare Personal Loans Online
What documentation do I need to provide to qualify for a personal loan?
Once you have decided on a loan you can afford, you will need to submit the following documents
- A copy of a valid South African identification card
- Proof of residence
- Three months’ bank statements or pay stubs.
These documents are only required when applying for a loan. If you are just comparing offers, you do not need to worry about documentation.
What are the maximum and minimum amounts available?
Before choosing a loan, you should have a good understanding of your options regarding the amount you need, the repayment period and interest. Each of these has a maximum and a minimum.
How is the repayment amount calculated?
The majority of the repayment amount is based on interest. Since interest rates are quoted in annual amounts, to calculate the amount of interest you pay on a loan, divide the interest rate by the number of monthly repayments (hint: the repayment period you choose).
Then multiply that by the outstanding balance on the loan (the first payment is the full amount). Did you get the numbers? This is the interest you pay.Compare Personal Loans Online
Calculating interest requires a lot of math. All you need to do is select the loan amount and the loan term!
Personal Loan Calculator
This table tells you what kind of loan you have, but it does not give you an estimate of your monthly payment or whether you can actually afford the loan. See Here
Money – Frequently Asked Questions
What is a personal loan?
A loan is a financial contract in which one party borrows a specific amount of money from another party and repays it over an agreed upon period of time. A personal loan is a type of loan that can be used for long-term or short-term financial problems.
If you are currently struggling to repay debts from various service providers, a personal loan can be used to consolidate your debts. Compare Personal Loans Online
How does a quote work?
Contrasting individual advance statements on Hippo.co.za is quick, simple, and free. Ensure you have entered all the necessary data. The information you enter (excluding contact information) will be sent to our partners. Compare Personal Loans Online
That information is then run through our decision engine to determine the appropriate quote for you. You will be presented with various options from our partners, including the interest rate offered, loan amount, loan term, monthly repayments, total repayments, and credit protection cover.
Look at the changed choices and pick the best arrangement for you. Once your selection is complete, your details will be sent to the provider of your choice. Each provider will then contact you about your personal loan offer. Compare Personal Loans Online
I am a foreign citizen, can I apply for a Personal Loan?
Only South African citizens who work and live in South Africa can apply.
Is there an age limit for applying for a Personal Loan?
You must be at least 18 years of age to be eligible for a Personal Loan.
Do I need to be employed to qualify for a Personal Loan?
Some service providers will only consider your application if you are employed on a regular basis and have worked at your place of employment for at least 6 months, while others only require that you have regular income.Compare Personal Loans Online
Do I need my own bank account to apply for a loan?
Yes, you need to have your own bank account. Our partners need to see that your bank account reflects your salary and income each month. Therefore, it is important that you provide us with details of the bank account to which your salary will be deposited.Compare Personal Loans Online
What will my ID number be used for?
We will need your 13-digit South African ID number in order to find the best deal for you.
Do I need to submit any documents?
When applying for a Personal Loan, you may be asked to submit the following documents
- A copy of your green bar-coded ID card
- Three months of bank statements
- Proof of residency
Do I need to provide my Personal Loan as collateral?
There are two sorts of individual advances: got individual credits and unstable individual credits. For secured personal loans, you must provide collateral such as a house or car as collateral for the loan. Unsecured personal loans do not require collateral and are determined based on your credit rating.
How much can I apply for?
You can apply for a Personal Loan from R$500 up to R$150,000. The amount you can apply for depends on your credit rating and payment status. Compare Personal Loans Online
Can I be denied for a loan?
While our partners will always do their best to accommodate your request, the final loan amount will be determined based on your personal financial situation and is subject to credit approval.
If approved, how soon can I receive my money?
With a personal loan, the loan amount is quickly and directly deposited into your bank account. How quickly you receive your money depends on your service provider and how quickly you submit the correct documentation. Compare Personal Loans Online
What are the loan repayment terms?
The repayment terms of your personal loan depend on the service provider you choose.
Can I choose my repayment method?
Repayment options depend on the service provider you choose. Most credit providers prefer repayment by direct debit from the bank account from which your salary is deposited.
How do I know if I can afford the monthly repayment?
To calculate the monthly repayment amount you can afford, please use our Expense Calculator tool. Subtract all expenses such as bonds, groceries, gas, tuition, credit card payments, etc. from your monthly income to calculate your remaining expenses.Compare Personal Loans Online
Will nonpayment affect my credit rating?
Repayment of personal loans must be made on time each month. Non-installment will adversely influence your credit score.Compare Personal Loans Online
Are loan repayments affected by interest rate fluctuations?
The interest rate charged on personal loans varies depending on the provider you choose. Some Personal Loans have a fixed interest rate, which means that your repayments will not increase if interest rates rise. Other personal loans do not have a fixed interest rate and your monthly repayments will increase as interest rates rise.
Can I use the amount of my personal loan freely?
Of course. The loan is at your disposal. Personal loans can be used for any personal expense, from large purchases to educational expenses. Also, keep in mind that some personal loans have lower interest rates than credit cards, so you may be able to save on interest when you apply for a personal loan.
Can I apply if my paycheck is paid in cash or by check?
No. Your salary must be deposited directly into your bank account via electronic funds transfer (EFT).
Can I apply for a personal loan if I am paid weekly or bi-weekly?
Weekly and bi-weekly wage earners are eligible to apply. If you are paid weekly, please submit your last 4 pay stubs and if you are paid bi-weekly, please submit your last 2 pay stubs.
I am a business owner, can I apply for a business personal loan?
No, you may not. Unfortunately, personal loans are for individuals only. You can apply for a loan as an individual, but you cannot apply for a loan as a business entity.
Could I at any point apply for an Individual Credit for the benefit of another person?
No. The Personal Loan must be in your name. You cannot apply on behalf of a friend or relative.
Can I apply for a Personal Loan if I am in the process of or have already filed for receivership or debt consolidation?
No. You may not apply for a Personal Loan if you are in receivership or have applied for a debt settlement. If you are in receivership, applying for debt review, or applying for liquidation, your application will be void.
Can I apply for a Personal Loan if I have been declared bankrupt?
If you have been declared bankrupt, your application is not valid.
Do I need my spouse’s permission to take out a loan?
If you are married under property division, common law, or foreign law, you must obtain your spouse’s consent to enter into a credit agreement.
How can I protect my family?
Some Personal Loans include a Personal Protection Plan that will clear your loan balance in the event of your death, permanent disability, or certain dreaded illnesses.
The Individual Assurance Plan presented by your favored supplier will be shown on the outcomes page.If your preferred credit provider does not offer this plan, you may enroll in a separate Personal Protection Plan.Compare Personal Loans Online
At Hippo.co.za, we strive to provide our customers with a variety of options, including life insurance, car insurance, and personal loans. We are always looking for providers to partner with. If you are an approved financial services and credit provider, we would love to hear from you.