Get an easy long term personal cash loan
Our goal at Mr Cash Loans is to provide you with access to personal cash loans online. Whether you would like to consolidate your debt or want a quick personal loan to help with an emergency, we understand. Our loan service providers offer predictable monthly payments, competitive loan cost and interest rates and they will consider your loan application even if your credit is less than perfect.
Personal loans are generally for larger amounts than short term loans and are paid off in multiple installments over a longer period of time. The term and the loan amount gets determined by your credit rating and affordability.
A personal loan can help you handle emergency expenses and can be a great way to consolidate your current debt burden. With fixed monthly repayments, and competitive interest rates. We can assist you in getting that personal loan online today, with our fast and simple online application process.
Understanding the basics of debt consolidation personal loans
People tend to consolidate their current debt to simplify their finances. With a debt consolidation loan, you essentially take out a loan to cover multiple loans or credit installments, with varying interest rates and cost, which then only leaves you with one reduced loan installment monthly.
Best is not to look for a consolidation loan to solve an affordability issue. You will find that most debt consolidation companies will not consider your application if you have no affordability available.
Mr Cash Loans partners with service providers that are here to help you achieve your dreams. No matter how you got into the situation that you are in now, we can try and assist you along the way to a better tomorrow.
What is the difference between Debt Consolidation and Debt Review?
How can I apply for a personal loan?
You can apply for a personal loan online, by filling out our online application.
What do I need to apply for a personal loan?
You need to be at least 18 years old and an employed South African citizen, you will need the following to apply.
- ID document
- 3 months bank statements not older than three days
- Latest payslip
How much does a personal loan cost?
South African personal loan installment consists of the following costs:
- Interest: The maximum interest rate is equal to the repo rate plus 21%. – your interest rate will depend on your affordability and personal credit profile.
- Monthly service fee: Standard monthly service fee of R69 (including VAT) is applied to all loan accounts.
- Credit life premium: Credit life premium is charged monthly. This premium is based on the Rand value of your loan at the time of application.
- Initiation fee: Once-off initiation fee is applied to new loans. This is R165 plus 10% of the loan amount in excess of R1,000 (capped at R1,050 excluding VAT).