If you are a South African and you are thinking about applying for a loan, you will find you have many options as long as you can satisfy some basic requirements. What are these requirements? Well, they do vary depending on the establishment you are approaching, but in the main, you will need to show:
- Your ID card
- Proof of address (no older than three months)
- Proof of your income
Some loan companies may insist on you having a bank account and will want to see three or six statements covering three to six months.
Personal loans are a product, and just like most products available today, competition among providers is fierce. While it is good from a consumer point of view to have plenty of options to choose, it can make selecting the right product somewhat confusing.[Read more…]