Personal loans differ from other types of loans, such as home mortgages or automobile loans. Specifically, personal loans allow you to spend your money in a number of different ways, whether it's to help pay off medical expenses, make home improvements, repairs to your vehicle or consolidate your debts. A personal loan is paid back to the lender over a set period of time. Fill out the form and see just how much money you can borrow from the comfort of your own home.
It's as easy as that. WHAT IS A PERSONAL LOAN FOR. People get personal loans to help with home repairs, unexpected expenses, holiday shopping, and more. Such a loan from one of our lenders can help you get the cash you need. Just fill out our Online Form. Follow the short process and if you are approved, receive your cash loan.
By this time it was 1994 and the whole country was changing. I resigned from Implats in February 1994, signed the franchisor agreement on 1 April, 27 days before the first democratic elections, and we opened the first Cash Converters store in Parow, Cape Town, after two months of training. That store is still there today except 400m up the road, Mukheibir smiles.
Financing was as challenging then as it is now. We needed R1 million, half for the master franchisor fees, half to open our own store, and truth be told, I think we were lucky to have the right banker at the right time because I had no experience. Were still with our bank 20 years later.
Early repayment. You can pay off your debt before the end of the loan term if you come into some cash. But watch out for early repayment fees. Many lenders levy a penalty for early repayment, which could wipe out any potential interest savings. Some lenders also charge arrangement fees for personal loans, which you should factor into your cost calculations. Payment protection insurance. A lender will probably try to sell payment protection insurance (PPI) sometimes known as Accident, Sickness Unemployment cover when you take out a loan.