Cobol

5 / 5Rating 0Took advantage 1Review
Overal rating
Terms and conditions
Customer service
Ease of application
Interest and instalments
Amount 1000 - 5000 R
Interest from 3 %
Loan term 30 days - 6 months
Cobol

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Quick overview

Loan processing time
15 minutes
Applicant's age
18 years


Loan amount R3.000, repayment term 6 months, monthly repayment 696.07, total repayment R4 189.78, initiation fee R416.1, monthly fee R68.4, interest 3%, APR 124%.

3000R fast and simply. THX.
Jamie
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Basic information

Cobol is a relatively new loan service, that not many people know about. However, this is one of the best services that will give you cash when you need it most. You can use Cobol as a payday loan where you repay them after just one month, or you can use them as a short-term loan.

They are situated in Stellenbosch and can be contacted via different platforms. They don’t have a walk-in store for applying for a loan directly, or for getting assistance when needed. But, you can make use of other methods to apply for a loan. These are the different contact details that you can use to get into contact with them.

What has Cobol to offer

What has Cobol to offer? They offer short to medium-term loans. Loans where you can repay the loans from 1 to 6 months. Making it easier for you to choose the repayment plan that suits your needs and requirements best.

They offer loans up to R5 000 for those that qualify. The one thing that you need to know is that interest is great, starting at a low 3%. There is also an additional fee that you need to pay that they are calling handling fees. Great for those that have a bad credit score or that is looking for immediate cash. Approval and payout are normally done within 15 minutes to an hour. Cash will be paid out on the same day.

Loan requirements

Cobol is an NCR registered loan service. Therefore, their requirements are in line with the NCR guidelines. These are the requirements for getting an approved loan from Cobol. You will see that it is similar to other lenders because they are all registered with NCR.

  • Needs to approve credit checks
  • Needs to have a South African bank account
  • Need to be older than 18 years and have a valid South African ID.
  • Be permanently employed with a salary of more than R5 000 and needs to prove it.

Cobol loan review conclusion

There are many positive reviews from clients and previous clients that have used Cobol before. They claim that payouts are done fast, without any problems, and that staff is friendly.

The whole process from starting the application to getting the money paid into their accounts was without any problems the same day as the approval was done. A lender that most clients recommend to people that are looking for a loan fast and without any delays.

Cobol might not be one of the most popular lenders, but they are offering some great options to you. Reviews are saying that this is one of the best lenders you can find. And, you will be able to repay the loan within 6 months. There aren’t many negative things about this lender, so making use of them is a great option. If you are looking for a short-term loan that is offering low interest and immediate payment, then you need to make sure that you are considering Cobol. Other clients haven’t regret using them and you won’t either.


What is your experience with this loan provider?

3000R fast and simply. THX.
Jamie
Reviewed 10. 05. 2020
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