The demand for debt among South Africans has grown even stronger during the past few years. DebtBusters marketing manager Kelli Kootsen says: “We have noticed a considerable rise in the amount of low earning income consumers turning to payday loans for help when financial times get tough and on the verge of defaulting on their asset repayments.”
Consumer debt levels are still high and this is mainly owing to high petrol prices and high food prices.
MFIN Cash Loans offers instant cash services to the general public.
Loans are provided up to a maximum of R7500.
They can be useful for paying for short term expenses such as paying for your child’s school fees, or paying for an unexpected medical bill or for repairs on your car.
Instant cash loans provided by institutions such as MFIN Cash Loans are often preferred over those provided by banks. This is largely due to factors such as convenience, speed and flexibility.
With the amendment to the National Credit Act, which came into effect in 2007, South African consumers are offered a wider array of options.
What do you need to apply?
- Be a South African resident
- Provide a valid South African ID
- Be permanently employed
- Provide your employee number
- Provide the name of your employer
- Provide your employer’s telephone numbers
- Provide banking details of the account into which your salary is paid monthly
Once you are approved for the loan, the cash will be deposited directly into the bank account provided.
To find put more about applying for MFIN Cash Loans, send an email to: email@example.com or call 0861 346 346.