Guaranteed bad credit loans are for people who are blacklisted and need a loan urgently in South Africa. Or perhaps been unsuccessful when trying to borrow money from the banks approval. There is certain criteria to getting quick approval for a bad credit loan.
Those listed as slow payers will not generally have a problem. But those who have been blacklisted by several companies over a period of time are going to have trouble with approval. Unless they have security.
So that security comes in the form of a house or property that can be signed against the borrowed money as a guarantee. In the event that an applicant cannot pay the loan back.
Checklist of Criteria for Guaranteed Bad Credit Loans:
- Applicant must be over 18 years old
- Must be a South African resident
- Credit Score: Bad Credit/Average Credit/ Fair Credit OK
- A valid functioning SA bank account
- Employed or self employed proof of income
- Proof of address in South Africa
- Valid proof of ID: ID book/card/drivers licence/passport
Locations where you can Apply for Guaranteed Bad Credit Loans in SA
If you are blacklisted and need a loan urgently you can apply from the following regions:
- Cape Town
- East London
- Port Elizabeth
- Pretoria (Tshwane)
Major banks in South Africa will not issue guaranteed bad credit loans.
Nedbank, Capitec, African Bank, ABSA, Standard Bank and FNB are all governed by the National Credit Regulator.
The National Credit Regulator (NCR) in South Africa regulates the credit industry. One of the NCR tasks is to promote the development of an accessible credit market.
Visit the National Credit Regulator website Here.
The major banks have very strict rules on who they will and will not lend cash to. However banks are not the only places that lend money to people in Cape Town, Johannesburg, Durban and other areas of SA.
Financial Credit Providers for Guaranteed Bad Credit Loans
There are financial credit providers that can offer guaranteed bad credit loans. Having said that, it is important that any applicant be weary of loan sharks and micro lenders that may not be acting 100% legally.
Online applications are about the quickest and most convenient ways to apply for finance from anywhere in the country.
Whether you need money for a car, to go on holiday or for debt consolidation. You can apply for finance from any computer or laptop with an Internet connection.
Therefore this convenience saves time and money on physically going to different branches. Having to fill out long application forms or spend time waiting for consultants on frustrating phone calls.
Being blacklisted these days is nothing to be ashamed of as many people run into financial problems. So many South Africans need a guaranteed bad credit loan urgently.
People That Need Money Fast Choose These Loans
People that need money fast choose loans to get cash into an account quickly. Usually with same day approval as the application process. And there is no quicker way than applying for a personal loan online. Through the use of the application forms.
So online finance applications speed up the process of being able to apply for a personal loan on the Internet. Because forms only take a few minutes to fill in and submit.
Once applications have been submitted and a loan has been approved to a potential borrower the money can be transferred to a bank account. As quickly as same day approval with some lenders.
There are many reasons that people need money fast including debt consolidation. To pay for an unexpected medical or hospital bill or for a spur of the moment holiday.
Quick Loan Applications Often Same Day Approvals
Whatever the reason someone needs money, a fast money loan is the solution to borrowing cash in a hurry. Often having approval and funds paid into an account on the same day.
Getting finance into someone’s account as speedily as possible can serve the purpose of helping that person to get money almost instantly.
But the cash has to be paid back and it must just be noted that the interest rates on guaranteed bad credit loans is usually high. Higher than that of normal finance so a person needs to think carefully before applying.
So this kind of service is really emergency funding and designed to be used for the short term.
But if after giving it some thought and weighing up the options a person is certain that they will be able to pay the loan back quickly… Then choosing these loans maybe the best way to borrow money fast.
If you are stuck for cash. You are blacklisted and need a loan urgently in South Africa. Or you are after guaranteed bad credit loans with possible same day approval. Just be sure to tread carefully and only apply from a trusted financial company.