Find out all about Boodle Loans
Boodle loans are there to make life more financially comfortable if you’re in South Africa. This is why you can quickly have a cash loan in your bank account in times of emergencies. These short term loans are affordable, and the loan application process is easy to follow. Find out all about Boodle offers for personal loans.
What you need to qualify for a Boodle loan
- you should be 21 years and above;
- proof of a regular income/salary for the last 3 months;
- South African bank account; and
- South African ID number.
How do you apply for a quick loan with Boodle?
The online application process is simple. On top of that, it only takes about ten minutes to finish:
- Use the calculator on this page to get an idea of your monthly repayments. Click “Go To Site” to navigate to Boodle’s secure website.
- On the Boodle website, look for the SmileDial which is shaped like a smile. There are two of them: The top dial lets you choose your loan amount. On the other hand, the bottom dial helps you choose the number of days you want the loan.
- After choosing the amount of money you want and the time frame for paying back click on the “Get Boodle Now” button.
- At this stage, you need to create an account if you don’t have one already. Therefore, you need to fill in your name and provide your cell phone and ID number.
- After your account is created complete the quick online form provided by supplying additional details.
- You have done all the work. Now, wait for Boodle to verify your information. When they’re done, they will get back to you with an offer.
- If you accept the offer the money is transferred into your account within 10 minutes (if you do it online) or 2 hours (if you do it manually).
How much money can you get with Boodle Finance?
Minimum Loan Amount: R100
Maximum Loan Amount: R4 000
Repayment Length of the Loan: 1 day to 42 days
Interest rate: 5% per month OR 0.17% per day or 60% per year
Service Fee: R60 per month plus 14% VAT
Initiation fee: R165 plus 14% VAT. If the loan is above R1000, you also get charged 10% of the loan value.
Example: For a loan of R4000 that you have to pay back after 30 days, you will have to repay a total amount of R4 827.38. So, the total interest and fees are R827.38.
Boodle Payday Loans
If you need to pay for a sudden emergency that happens before your salary comes, then Boodle payday loans may help. They are short term loans for employed South Africans. Consequently, they have to be paid back as soon as your salary reflects in your bank account. Besides that, there are no credit checks since Boodle only considers your salary.
How do I benefit from getting a Boodle loan?
- Boodle is a registered Credit Provider. As a result, it is regulated by the National Credit Act 34 of 2005.
- Boodle gives you all the information when applying, and there are no hidden costs. For example, they clearly show you the interest amount and charges. Additionally, they tell you the date you are supposed to pay back the loan.
- Applying for loans is an online process and hence no physical documents involved.
- You can get same-day approval and instant cash loan that meets your individual needs.
- Your details are always safe and secure since Boodle keeps them confidential.
Boodle loans
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