Loans for Bad Credit
We all make mistakes at times, and that includes our finances. No matter the reason, if you have bad credit, you might be worried that you won’t be able to get the money you need — when you need it.
It’s true that bad credit can make it a little more difficult to get quick cash when things get tricky. However, there are lenders that specialize in making loans to those with poor credit. These lenders are often flexible and can provide you with solutions that might not be available at more traditional brick and mortar banks, whether you just need a couple of thousand dollars to get through the next week, or whether you need to buy a car fast.
Here’s where you can look if you need quick loans for bad credit.
Best Personal Loans for Bad Credit clients
Personal Loans are paid back in a relatively short period of time, usually over six months or up to a year. Additionally, they are usually small, often not allowing you to borrow more than R 100 000
In many cases, you can get short-term loans that are approved in minutes, with the funds arriving in your bank account as soon as the next business day. Realize, though, that these types of loans often come with very steep interest rates. If you need quick cash loans and can pay it off fast, it might not matter as much, but it’s important to pay attention and avoid renewing
Best Personal Loans
With Personal loans, you can generally borrow money for up to 72 months. Personal loans might also allow you to borrow more money, sometimes up to R 150,000. However, if you’re looking for Personal Loans for bad credit, you’re more likely to be limited to R 40 000
When you apply online, you can still usually get a fast decision and have the money in your bank account within a couple of business days from being approved.
- Network of lenders
- Loan amounts between R 5 000 – R 150 00
- Interest rate ranging from 15% to 60%
- Loan terms ranging from 3 to 72 months
Best Car Loans for Bad Credit
When you need to buy a car, you might not have time to save up or improve your credit score. As a result, you might be looking for online lenders that offer car loans for bad credit. If you need to buy a car quickly so you can get to work, consider getting a loan with one of these lenders, all of which offer quick application decisions and funding.