If you ever needed a loan before and done the research, you may have come across Woolworths. This is because this is one of the biggest lenders in South Africa, even if you know Woolworths as a food and clothing store. They are offering different loans for different people. Making it easier for people to find a loan when they desperately need cash.
Woolworth's head office is situated in Pretoria. This is where all the loans are processed and payouts are made from. However, there are offices where you can walk in to get assistance anytime. But, you can get the necessary assistance from their platforms and contact details.
What Woolworths has to offer
It is important to know what Woolworths has to offer before you decide to apply for a loan with them. Because this is a payday loan, you need to repay the loan between 12 to 60 months. Meaning that you need to repay the loan when it suits your need best.
The amount that you can lend goes from R2 000 to R75 000. Their interest rate is extremely great at just 10%. But you need to know that there are some additional fees as well that are payable with the repayment of the loan. The process and provide an answer within 48 hours after the application was done correctly. The payout is done soon after.
It is important to know what the requirements and criteria are for you to apply for a loan at Woolworths. Because they are registered with the NCR, their criteria are strict. These are the loan requirements for you to apply for a loan and to be considered.
- You must be older than 18 years of age
- You need to have a valid barcoded South African ID Credit checks will be done
- Must be permanent employed with a monthly salary of more than R 5 000
- Need to be able to prove that you can afford the repayment of the loan
- Need to give proof of residence and three month’s bank statements
Woolworths loans review conclusion
Woolworths isn’t just a loan service. They are a retailer as well. And, this is why so many people are making use of Woolworths when they require cash. Many love Woolworths for clothing and food shopping, and they know what they get with this retailer. And, this is why the reviews of Woolworth's loans are just as positive.
There aren’t as many people giving negative reviews, because there aren’t any negative reviews. With great interest rates, using a well-known retailer, and having 60 months to repay the loan, there isn’t anything to moan about.
With Woolworths, you can buy clothing, food, and apply for a loan. This is why this lender is getting so popular. People are familiar with the brand, and they know the quality service they are getting. The best part is that if you are already a cardholder of Woolworths, getting an approved loan will be so much easier and faster.