How to apply for Southern Finance Payday Loan?
Find out how to apply for small and fast loans from Southern Finance and receive the funds immediately upon approval.
Get all the information you need for your loan application
If you are in need of funds to cover expenses or pursue a specific goal, Southern Finance Loan offers payback terms that can help you. Applying for their loans is easy and fast.
Southern Finance Payday is a reliable company that provides credit of up to R2500 for new users and R6,000 for existing customers.
The platform offers an immediate calculation of loan amounts and repayment periods and provides a payment method directly from your deposit bank account.
This comprehensive guide will assist you in understanding how to sign up and request a loan from Southern Finance today.
Eligibility requirements
Southern Finance values close and humanized customer contact and service, and they have invested in creating an easy and swift platform. To request a loan, you must be a South African citizen and be over 18 years old at the time of providing your information.
Proof of employment is a primary requirement for Southern Finance. They only offer loans to individuals who can demonstrate being duly registered in a job with a regular monthly salary.
If you are unemployed or do not have formal employment in South Africa, you are not eligible to apply for a loan with Southern Finance.
How to apply for a loan
The application process at Southern Finance is quick and easy, thanks to the platform’s simple usability. On the homepage, you can access the menu to simulate loan amounts and interest rates.
Here is the step-by-step process to apply:
- Access the Southern Finance website and simulate loan amounts and repayments.
- Provide your South African identification number.
- Immediately, the platform will inform you whether you are eligible for probable approval.
- Fill in your contact information, employer details, and details of the bank account where you receive your monthly salary.
- Submit the application.
Southern Finance conducts a comprehensive income check to determine loan approval. The platform does not specify a time limit for this process, but as their goal is to offer fast money, it does not take long.
After approval, the time it takes to receive the funds will depend on you. Southern Finance releases the funds on the same day of approval, and they typically arrive in your salary-receiving bank account within 24 hours.
If you need the money immediately, you have the option to pay a fee of R57 for instant availability. For repayments, the company offers the option to send a direct debit request to your bank account.
For your first loan on the platform, Southern Finance releases a maximum of R2500. However, with more frequent use, you can reach the limit of R6,000.
Considering other options?
If you need larger amounts, you may want to consider an African Bank personal loan. The company offers credit of up to R250,000 for South African citizens, providing a much larger opportunity for those who need to negotiate higher amounts.
The main requirement to apply for a loan with African Bank is to have a credit score above 550. You must also reside in South Africa and have a good credit score, which are the basic requirements for gaining access to their loans.
If you believe that African Bank better suits your needs and meet the conditions, check out our comprehensive article on applying for a loan with the company.
