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What to Expect During a Short Term Loan Online Application Process

Short term loans, also known as same day loans, have become an increasingly popular financial tool for South Africans who need a solution to temporary cash flow issues. However, the short term loan online application process can feel a little daunting for new applicants.

Whether you have previously used other forms of borrowing or not, familiarising yourself with the process is the first step to a successful agreement. At Blink Finance, we pride ourselves on delivering a simple and streamlined application process.

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A Short Term Loan Application Process Completed in Just 3 Easy Steps

Traditional loans may require long-winded application processes, especially when large sums of money are involved. However, a short term loan online application boasts a far simpler process. With Blink Finance, you can have funds in your account after just three simple steps.

Find a proposed loan agreement that works for you. Do this by using the sliders to select the amount you’d like to borrow and for how long.
Provide a few simple details to confirm who you are, where the funds will be paid, and where repayments will be paid from.
Get a decision on the application and, if successful, receive your cash.

It is possible to borrow between R1000 and R8,000. However, the upper limit is reduced for new applicants.

An Application Process Requiring Minimal Personal Information

Another daunting prospect of applying for traditional loans relates to the amount of information required. If you do not have access to the necessary documents, you may be excluded from applying. Moreover, a poor credit score could potentially stop you from getting a standard bank loan for larger amounts.

The short term loan application can be completed with very few personal details. You will only be required to supply the following;

Your South African ID number to prove who you are.
Contact information, including your physical address and postal address.
Your employer’s details.
Details of income and expenses to confirm you can make the repayments.

If you are a South African resident with a permanent address and a regular income, you will be welcome to apply.

A Decision in Next to No Time

When you need an emergency loan to manage temporary financial problems, you don’t have time to waste. One of the many advantages of a short term loan online application process is that it is open to applicants 24/7. This allows you to complete the application, which takes under five minutes, at a time to suit you.

Our experts will then complete a financial examination to confirm acceptance. In many cases, this can be done within the hour. You will receive a notification once this has been done, along with advice on the next steps.

Funds Received in the Next 24 Hours

Short term loans are also known as same-day loans. As the name suggests, payments to successful applicants are made within 24 hours. The majority of applicants can expect to receive their cash even sooner, especially if the application is made in office hours.

Before receiving funds from an online short term loan application at Blink Finance, you should also know that;

Funds can only be released to the same bank account that you use to receive your salary.
Funds are paid in full, regardless of how much you borrow and the duration of the loan agreement.
All transactions are facilitated by a secure payment processor, ensuring your data is 100% protected.

Online short term loans are primarily designed for emergencies, unforeseen expenses, or to bridge payment gaps. However, once the funds have been released, you are free to use them as you like.

A Transparent Application and Agreement

Short term loans are a preferred option for many reasons, including convenience, quick repayments, accessibility, and smaller borrowing amounts. By choosing a reputable company that is fully accredited with the National Credit Regulator, you also gain 100% transparency.

The simplicity of the short term loan online application and subsequent agreement makes it very easy to understand everything. Key things to remember are;

We use the same interest rates for all applicants. So, the repayment plan shown during the application process is what you would pay if successful.
Charges applicable to all accounts are a R69 monthly service fee and a 3% interest charge for any non-repayments.
All applications are analysed individually and are not impacted by issues like poor credit scores.

Ready to make your application? Get started now and you could have funds hit your account later today.

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