Ayoba Loans is a micro credit lender. It has been active in South Africa for some years. The mission statement of the company is to help all South Africans access easy and simple loans without any headaches. Ayoba Loans has a team of very seasoned consultants that will help you arrange your application of the loan and advice you on what loan you should go for. The company offers the public cash when money is needed due to a situation that arises.
Loans are also available to individuals who have been blacklisted. To get the loan all you have to do is log on to the internet. Fill an online applicant’s form. Choose Repayments terms that are over a period of time. Remember that with Ayoba loans there is no need to secure it with personal possessions, or collateral.
About Ayoba loans
Ayoba Loans are open to everyone in the country. The loans are also available to people who are blacklisted. The company offers personal short term and long term loans.
Ayoba loans services
- Short term personal loans
- Blacklisted people can apply for the loan.
Benefits
- Easy repayments
- Affordable rates on fees and interest
- Helps blacklisted people get loans
To qualify for a personal/blacklisted loan you need:
- Applicants need to be a South African citizen living in the county not planning to migrate.
- Applicants must have a valid South African Identity Document (ID) card or book.
- Applicants must have an active bank account with debit order services.
- Applicants must be working full time.
- Applicants must have a minimum salary of R3 000 per month.
Applicants can be declined on the following basis:
- Applicants that cant repay monthly installment on the loans.
- Applicants that are under debt counseling, debt review.
- Applicants that are going through or under administration or sequestration.
The mentioned above are 3 types of applicants Ayoba Loans will decline loans.
All lenders of Ayoba Loans are registered with the National Credit Regulator (NCR). You don’t have to worry about accreditation of the company; giving you peace of mind.
Ayoba Loans fees and interest structure is based on chapter 5 of the National Credit Act (NCA) no 34 of 2005:
Initiation Fee of 15% of the Loan Amount up to R1 000, thereafter 10 % (+ VAT)
Services Fee of R50 per month (+ VAT)
Interest charged:
Per Day: 0.17%
Per Month: 5%
Per Annum: 60%
NOTE: Ayoba Loans can offer loans up to R250 000. The table below is an example of the cash loan and related fees, not the exact amounts because as every loan is different. Every micro credit lender has their own method of calculating repayments and has their own models. However; the company’s repayments loans are very competitive and affordable.
Cash loan table:
| Loan amount: | R1 000 |
| Term: | 1 month |
| Initiation Fee: | R150 |
| Services Fee: | R57 |
| Interest: | 32.74% |
| Total Installment: | R1 474 |
Ayoba loans Contact Details
To access Ayoba Loans you can visit their website, and fill in the application form online and a consultant will be in touch with you as soon as possible.
Tel: 074 123 8235
Email: finance@financeturtle.co.za
Website: www.ayobaloans.co.za