How to Apply for High Risk Loans Guaranteed Approval South Africa
What are high risk loans and how can you apply for them and receive successful approval?
In this post we take an overview of what does this really mean? Where can people who are considered high risk borrowers can get assistance.
Whether you have bad credit or have been blacklisted, the fact remain that we all need help frequently to keep up with the month.
With the cost of living so high in South Africa, many people are really struggling to maintain their previous or old lifestyle.
Petrol hikes and increasing interest rates makes it impossible to maintain what used to be maintainable.
If you bought a house on a salary bracket that you were able to afford previously, you find yourself in a situation where you now can't afford.
Our focus on this post however is to focus on those people who have been declined by banks to apply for personal loans due to their credit status.
One of these credit statuses may be that you have not been taking care of your credit profile and your credit health is not on a good standing.
The other reason to be declined is that you have been blacklisted and lenders are refusing to help you with finance.
If you have one of these credit statuses, below is a list of where you can apply for high-risk loans guaranteed in approval South Africa.
High Risk Loans Guaranteed Approval
Lenders that might be willing to help you if you have been blacklisted or have bad credit history.
| Provider | Loan Amounts |
|---|---|
| Binixo | R9 000.00 |
| uBank | R8 000.00 |
| EZI Finance | R8 000.00 |
| Mulah | R4 000.00 |
| Blink Finance | R4 000.00 |
| Hoopla | R250 000.00 |
| iThemba | R8 000.00 |
| Kamela Quick Cash | R5 000.00 |
Blacklisting
Let us quickly look at what does it really means when you are considered blacklisted in South Africa.
Being blacklisted simply means that your name or identity has been flagged by the credit bureau, these will put an alert to lenders that you’re a bad borrower.
The blacklisting status is one of the flags that will really make it difficult for you to get by especially when it comes to finding finance with most popular lenders.
When you try to apply for personal loans, bond and car finance, you will be rejected by many lenders because of this status.
There are currently many lenders now who are willing to offer help to those who have been flagged as blacklisted.
These lenders are most likely to charge higher interest rates and will require you to provide proof of income.
Bad Credit Loans
How to apply for high risk loans guaranteed approval South Africa?
Bad credit loan providers as listed about provide those who have been blacklisted and declined by major lenders with high risk loans with guaranteed approval.
If you have bad credit in South Africa, you will be declined to apply for personal loans, mortgage, car finance and even finding a cell phone contract.
Your credit profile is one of the most important parts of your life, if you take care of your credit profile, it takes care of you.
To get finance when you have bad credit is possible, however it comes with very strict terms which includes higher interest rates.
Conclusion
One of the most important parts of your life is your credit profile, it can determine lot of financial relationships between you and providers.
If you have been offered credit by any lender, ensure that you pay your debt in time to maintain the health of your credit profile.
Having bad credit status can restrict you access to major lenders like FNB, Standard Bank, ABSA and Nedbank.