Apply for a loan through Justmoney.
What is a loan?
A loan is a borrowed sum of money that can immediately assist with costs like buying your dream home or car, furthering your studies, or footing unexpected costs.
There are two types of loans – secured and unsecured.
A loan is considered secured when the borrower pledges an asset as collateral in the event that they default on their payments. For example, a home loan is tied to the value of your home and if you are unable to make your payments, the creditor can repossess it.
An unsecured loan, on the other hand, is considered an agreement that is not backed by an asset. Examples of this include personal loans or consumer loans. Unsecured loans have higher interest rates because creditors cannot rely on an asset to compensate them if you default on your payments.
Why a Loan?
A loan can be used for a variety of things, such as your dream car, home renovations, or covering unexpected medical expenses. If you cannot afford an item upfront, a loan will help you benefit from it at once, while allowing you to systematically pay it off.
Aside from the typical loan spends like a car, home, or student loan, many people also acquire debt to cover things like a vacation or a wedding. Here’s a simple rule of thumb for taking on debt – only go into debt when absolutely necessary or for appreciating assets.
Examples of good reasons to take out a personal loan include paying for unexpected medical expenses or home renovations.
The trick to managing a loan is ensuring you can make the repayments. If you want a loan because you are struggling to pay off other debts, then debt consolidation or debt counselling is more suitable.
Loans through Justmoney
You can apply for a loan through a variety of traditional financial institutions, like banks and credit unions. But nowadays, non-banks are offering safe and simple loans at the click of a button. These institutions allow you to access your statements online, as well as make your payments electronically.
So where does Justmoney fit in? We act as a bridge between you and your ideal loan provider.
The success of your application depends on several factors, such as your: credit score, repayment history, and affordability. To get your application going, all we need are details like:
- your full name
- ID number
- cellphone number
- gross salary
- loan amount
- email address
Justmoney has partnered with trusted lenders to bring you the best deals for your loan requirements – whether you are interested in a personal loan, home loan, or vehicle finance.
Ask our experts
Featured Should you take out a personal loan for your wedding?
You may not have considered the costs of your wedding yet. We have a look at whether a loan could be an option, how to take one out responsibly, and what alternatives you have.
Should you get a personal loan from a bank or a loans provider?
When you decide to take out a personal loan, you need to consider many factors which will help you determine how long it will take you to settle your debt. However, you will notice that you can take out a personal loan from the bank or from a loan’s provider.
What are the differences between secured and unsecured loans?
Do you know whether your chosen loan is considered “secured” or “unsecured”? We have a look at what each of these refer to, as well as the impact this has on your repayments.
What makes a personal loan “personal”?
If you’re interested in taking out credit, you may have been advised to take out a personal loan. But what makes it “personal”, and do you have any other options?