How to apply for Mulah Payday Loans?
Subtitle: Mulah, a startup, provides a swift application process, enabling the potential to receive funds on the same day in your account.
Get the Complete Guide for Your Mulah Loan Application
Mulah is a leading startup in South Africa that offers small-value loans completely online, with a quick and easy registration process. According to Mulah, funds can be deposited on the same day of approval if the application is submitted before 3 p.m.
For new customers, Mulah offers an initial loan of up to R4,500, with the potential for an increase to R8,000 based on platform usage. The company values building a strong relationship with its customers.
Mulah allows repayment periods from 1 day to 90 days, depending on the customer’s usage level. Regular users can enjoy up to 3 months to repay their loans, providing flexibility and convenience.
With its focus on providing smaller loan amounts compared to competitors, Mulah aims to meet urgent financial needs that may arise in everyday life.
Eligibility Criteria for a Mulah Loan
Mulah’s services are exclusively available for South African citizens above 21 years old. This age requirement is in line with the financial responsibility principles that discourage providing personal loans to minors.
Additionally, Mulah’s loans cater to individuals with a proper employment history and documented proof of employment. The bank account used for registration must be the same as the one where the monthly salary is deposited. However, the platform does not specify a minimum monthly income requirement.
It’s important for applicants to have their identification and bank account documents in order to meet Mulah’s regulatory requirements.
How to Apply for a Mulah Loan
Applying for a loan with Mulah is a straightforward process that can be done online using any device with internet access, including PCs, smartphones, and tablets.
Here are the steps to follow:
- Create a user login on Mulah’s website by providing your identification number, full name, phone number, and email address.
- Provide the bank information for the account where your monthly income is deposited, as well as details about your employer or source of income.
- Depending on your application, Mulah may request additional documents such as a brief motivation for the loan, your latest paycheck, and bank statements for the last 3 months.
You can send these documents via email to [email protected] or fax them to +27 (86) 599 6280.
Mulah provides excellent support throughout the registration process and can be contacted via phone during business hours for assistance.
After verification, Mulah will present a loan proposal containing all the repayment terms and amounts. Applications approved by 3 p.m. on a business day can expect instant payment, while those approved after this time will receive the money in their account the following day.
Looking for Other Lenders?
If you are considering alternatives to Mulah, you can explore Hoopla, a credit brokerage company that offers personal and consigned loans up to R250,000 to South African customers. Hoopla boasts a user-friendly platform, convenience, and a fast application process.
Hoopla maintains a high accuracy rate of up to 84% for credit approvals, providing customers with favorable chances of securing a loan. To learn more about Hoopla’s services and determine if it’s the right fit for you, visit their website.
