How to Make Use of Instant Cash Loans for Blacklisted
Posted by financial advisor on
Even though there is a government plan for the amnesty of many blacklisted individuals in South Africa, it is not known when it will kick in. The good news is that there are various borrowing opportunities for such individuals even at the moment. You can readily consider instant cash loans for blacklisted. They cannot be found at African Bank, Nedbank or Standard Bank, but they are readily available from lenders in entire country and not only in major cities like Durban, Cape Town or Pretoria.
It is important to know how instant cash loans for blacklisted work. You can borrow up to R3000 and possibly more depending on the lender.
Typically, no collateral is required. The term of the loan is very short. The repayment is due in 30 days or on your next payday.
Still, some lenders may allow you to repay your debt in 60 or 90 days.
You should keep in mind that the interest rate on such loans is typically fixed for all borrowers. This means that your bad credit record will not be taken into consideration when you make an application. The chances of you getting approved are extremely high.
Given that these loans have a very short term, you can expect the cost to be considerable. That is why you should borrow money only for covering urgent and important expenses such as medical bills. You should also ensure that you borrow only as much as you can afford.
The instant cash loans for blacklisted come with varying cost and term. Take advantage of the competition between lenders and compare as many products as possible to find the cheapest one.