Payday loans are a type of unsecured short term loan that usually have to be paid back within a few weeks of being granted, sometimes even within a few days. The date on which a payday loan must be repaid usually coincides with the date on which the borrower’s next salary will be received, or shortly thereafter – hence the name Payday Loan.
Because of their very short-term, unsecured nature, payday loans are quite risky for South African lenders and usually feature fairly high interest rates – therefore they must be used carefully and correctly.
Contact Us Now to speak to one of our loan specialists about a Payday Loan. Due to their knowledge of the South African financial industry, they can help you find the Payday Loan that best meets your needs
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